Meta Trader 5: Exploring its Merits

The name Metatrader, itself, evokes a kind of confidence in us- simply owing to the fact that it has been created by the very famous Meta Quotes Software Corp – a reliable name in the world of finance. The latest version of Metatrader- metatrader5 actually combines a number of benefits that can be explored by traders. So what exactly are the advantages of trading with metatrader5? Let us explore in the course of the post.

What are the benefits of using the Meta Trader 5 platform?

It has clearly been opined that Meta Trader 5 makes trading even easier than its predecessors. In fact, right since the time the creators were mulling the introduction of this platform, traders actually expected that it (Metatrader) was going to add to the overall functionality of its predecessor. Has the platform been able to live up to that expectation? The answer is a definite yes! Here is a primer on its primary advantages.

Distinct

Let us start off by pointing out that Metatrader 5 clearly distinguishes between the terms Position, Order and Transaction. It only means that it works a bit differently from its earlier versions (especially Metatrader 4) where the opposite positions are offset.

Number of Orders

It enables you to place 8 types of pending orders as against 6 in the previous version. And what exactly are these orders? Buy stop, buy limit, sell stop, sell limit, stop loss, take profit, buy stop limit and sell stop limit. A greater number of postponed orders turns out to be highly beneficial for traders since they have the opportunity to gain more precise control over open positions. This entire attribute bolsters further development of flexible strategies.

Market Depth

Market Depth is another notable attribute of Meta Trader 5. This module helps all the investors to examine the quotations of the respective securities. It offers them the idea of the volume of securities offered at a given a price. This particular attribute shows you the aggregate view of pending orders and quotations.

Other Advantages

You can select from among 21 time periods on the charts. This particular aspect has been hailed by traders since they can now take advantage of the technical analysis that is much more precise and accurate. As against the previous version, MT5 offers you access to a whopping 9 surplus techniques for chart structuring, as well.

The One click trading module is one of the greatest innovations associated with the Market Watch technique. It allows clients to open a position with the single click of a mouse. The quotations can as well be viewed in the form of active buttons. The menu enables you to select the volume of transactions.

Conclusion

Please make sure that you are educating yourself about Meta Trader 5 without fail. It is definitely going to help you make an informed decision regarding the choice of the platform (whether it will suit your trading style or not). Trust us- there are more such (as mentioned above) benefits to be explored as well.