MetaTrader 5 (MT5) is a versatile trading platform designed for accessing various financial markets. Understanding what is Meta 5 used for involves looking at its core function as a multi-asset platform and its extensive features for analysis, automation, and order management.
The Core Purpose: Multi-Asset Trading
MT5 allows trading across a range of financial instruments. This includes:
- Forex (FX)
- Stocks
- Indices
- Commodities
- Cryptocurrencies
- Futures
- CFDs (Contracts for Difference)
This multi-asset capability distinguishes MT5 from its predecessor, MT4, which primarily focuses on Forex and CFDs.
Advanced Analytical Tools
MT5 provides a powerful set of tools for market analysis. These include:
- Technical Indicators: 38 indicators, covering trend, volume, and oscillator types.
- Charting Tools: Over 80 analytical objects for drawing on charts.
- Timeframes: 21 options, from one-minute to monthly.
- Market Depth: Shows market liquidity by displaying bids and offers at different prices.
The platform also supports fundamental analysis with financial news and economic calendars.
Automated and Copy Trading
MT5 supports automated trading and allows users to copy the strategies of others.
Expert Advisors (EAs)
EAs are automated trading programs that can analyze markets and execute trades. Users can develop their own using MQL5 or use existing ones.
Copy Trading (Signals Service)
The Signals service allows users to automatically copy trades from thousands of signal providers.
Enhanced Order Management
MT5 offers a sophisticated order system with various types:
- Pending Orders: Including Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit.
- Stop Orders: Stop Loss and Take Profit for risk management.
- Trailing Stop: A dynamic stop-loss order.
The platform also provides various execution modes to suit different strategies.
Accessibility and Customization
MT5 is accessible across multiple devices and offers extensive customization options.
Multi-Device Access
Access is available on desktop (Windows, Mac), WebTrader, and mobile apps (iOS, Android).
Customization Options
Users can personalize the interface, charts, indicators, and settings to match their trading preferences.
MT4 vs MT5: A Comparison
To further clarify what is Meta 5 used for in comparison to MT4:
| Feature | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Market Access | Primarily Forex, CFDs | Forex, Stocks, Indices, Commodities, Cryptocurrencies, Futures |
| Analytical Tools | Standard set of indicators and charting tools | More extensive array of charting tools, 38 technical indicators, 21 timeframes |
| Order Types | Limited order types | Expanded order types, including pending orders, stop orders, Trailing Stop |
| Automated Trading | Support for Expert Advisors (EAs) | Improved support for algorithmic and automated trading, MQL5 language, integrated development environment |
| Hedging | Supported | Improved hedging functionality |
| Backtesting & Optimization | Limited capabilities | Advanced backtesting and optimization features |
| Speed | Slower | Faster |
| Interface Complexity | Simpler, more straightforward | More complex, potentially overwhelming for beginners |
Note: Information compiled from various sources including,, and.
MT5 is suited for traders seeking broad market access and advanced features, while MT4 might be preferred by beginners or those focused mainly on Forex.
Conclusion
What is Meta 5 used for? It is a sophisticated multi-asset trading platform with advanced tools for analysis, order execution, and automated trading across various financial instruments. While its primary focus is on financial markets, the concept of virtual spaces, like those in the metaverse, could potentially impact unrelated sectors such as healthcare and pharmaceuticals in the future. However, MT5's core function remains within financial trading.
