FxPro MT5 Expert Guide -
how to download, login and trade
how to download, login and trade
What is FxPro MT5?
FxPro is a recognised leader in professional trading. The broker has long been a partner of the MetaTrader 5 (MT5) platform and with its help has significantly expanded trading opportunities. Having won the 'Best MT5 Broker' award at the 2015-2017 UK Forex Awards, FxPro has set the benchmark for excellence in the use of this advanced platform.
MT5 for PC
The MT5 platform has quickly become popular in the trading industry, extending the renowned features of its predecessor MT4. This has come at the expense of enhanced features and an improved environment for trading Expert Advisors. The PC platform is the most functional compared to other devices and is designed to meet the requirements of modern traders, offering a rich set of resources and easy customisation options.
Key features:
- Includes 38+ preset indicators and 44 analytical tools.
- Offers three chart types and 21 timeframes.
- Additional pending order types such as sell stop limit and buy stop limit.
- Fully customisable charts with the ability to add custom Expert Advisors and indicators.
- Economic calendar and market DOM(Depth of Market) feature.
- Available for both Windows and Mac, ensuring accessibility for all users.
MT5 for Mobile
Mobile trading platforms have revolutionised the way individuals engage with the markets. There's no longer a need to be tied to desktop trading; instead, you can keep track of market changes and execute trades from anywhere in the world using your smartphone or tablet.
Features include:
- The ability to trade from any location at any time with instant execution.
- Compatible with Android, iOS, and accessible via web browsers.
- 30 free technical indicators & 23 analytical tools.
Market news feed and customisable chart layout.
An intuitive user interface optimised layout for tablets.
MT5 Webtrader
The MT5 WebTrader offers a robust, browser-based trading platform, enabling direct access to global markets without the necessity of downloads or installations.
Key Features Include:
- Engage in CFD trading across five distinct asset classes.
- 30 technical indicators and 24 analytical tools.
- Compatible with all web browsers and operating systems.
- A 9 variety of time frames are available for selection.
- Facilitates 1-click trading for efficiency.
- Provides market depth insights.
MT5 Trading Central Tools
One of the features of MT5 is the Trading Central service, which provides market analysis and trading signals to help you make more informed trades.
To use the Trading Central service on MT5, follow these steps:
- 1Open the MT5 platform and log in to your account.
- 2Click on the "Market" tab on the main menu and select "Trading Central."
- 3A new window will open with the Trading Central dashboard. From here, you can browse the available analysis and signals for different financial instruments, including forex pairs, stocks, indices, and commodities.
- 4To view analysis or signals for a specific instrument, select it from the list on the left side of the dashboard.
- 5The main window will display a summary of the analysis or signals for the selected instrument, including the current market trend and any potential trade opportunities. You can also view more detailed analysis and signals by clicking on the "Analysis" or "Signals" tab.
- 6To place a trade based on a signal from Trading Central, click on the "Trade" button next to the signal and follow the prompts to open a new trade.
Overall, the MT5 Trading Central service is a fantastic resource for traders who utilise the MT5 platform and want access to expert-level market research and trading ideas. By following the methods indicated in the preceding section, you may quickly access and use the service to enhance your trading abilities and outcomes.
Functions
Regardless of which device you trade MT5 on, you'll have access to advanced trading platform features designed to enhance your trading experience and improve your market performance, and therefore your income.
- EA Trading:Automate your trading strategies using Expert Advisors
- Depth of Market (DoM):Gain insights into market depth, viewing levels of prices to better inform your trading decisions.
- Indicators and Integrated Economic Calendar:Analyse assets like a professional
- Pending Order Types:Utilise 6 types of pending orders: Buy limit, Sell limit, Buy stop, Sell stop, Buy stop limit, Sell stop limit
- Trading Central Integration:Enhance decision-making with advanced insights and analysis available through the Trading Central plugin.
- Trailing Stop:Protect your profits with dynamic stop-loss orders that automatically adjust as market prices move.
- Detachable Charts:Organise your trading space by detaching charts for a more flexible and efficient setup.
Interface
The MT5 interface on 49 languages is very rich and at first glance may seem complicated. However, try the demo version and you will see that the functions are well organised and everything is in its place. The interface allows you to quickly analyse data, manage trades and work with various financial instruments using advanced tools.
- Main Menu:This is where you'll find all the essentials like file management, viewing options, and quick access to tools and charts.
- Toolbar:Located right above the chart, this is perfect for quick actions such as opening orders and managing your account.
- Chart Window:It shows real-time prices and indicators, and you can change the time period to get the analysis just right.
- Orders and Trades:This section displays your current and past transactions, complete with details on volume and your profits or losses.
- Market Overview:Get a summary of different financial instruments and what makes each one unique.
- Navigation:Easily access a full list of tools, advisors, and custom indicators.
- Terminal:Here you can view important financial info like your account stats, balance, and margin.
Features
There are a few other features that will help improve your trading!
- MetaEditorThe MetaEditor software, seamlessly integrated into the MT5 trading terminal, enables the development, alteration, and compilation of custom indicators, expert advisors, and scripts using the MQL5 coding language. MQL5 is notably more user-friendly and efficient than its predecessor, MQL4. Additionally, it simplifies operations by requiring just a single coding function, rather than multiple, to handle requests.
- MT5 Strategy TesterThe MT5 platform includes a strategy tester, which enables you to backtest and refine your Expert Advisors using historical price data.
How and where to download?
To download any version of the platform or to start MT5 web based trading, register with FxPro and get the platform you need absolutely free and safely! Start FxPro MT5 download!
PC
FxPro MT5 download for pc on Windows or macOs is easy, follow our instructions:
- After registration, in your personal cabinet, go to ‘Quick Access’-‘Download Centre’.
- On the page find the section ‘FxPro MetaTrader 5 Platforms’ and the option: ‘FxPro MT5 Client Terminal’.
- Select your operating system and the file download will start automatically.
- Run the file and start the Metatrader 5 install.
To install the MT5 platform on your Mac, first download the PlayOnMac software.
- Once downloaded, locate the .exe installation file in the Finder, right-click it and select Open with PlayOnMac. This action will start the installation of MT5 in PlayOnMac.
- Follow the on-screen instructions to complete the installation. Once installed, you will see a shortcut to MT5 in PlayOnMac.
- Double click on this shortcut to open MT5 and enter your FxPro account login details.
Mobile
To get MT5 to your mobile phone, register with FxPro and log in to your personal account from your mobile phone. Next:
- In your personal cabinet (FxPro Direct), enter the ‘Quick Access’-‘Download Centre’ section.
- On the page find the section ‘FxPro MetaTrader 5 Platforms’ and the option: ‘FxPro MT5 Mobile Platform’.
- Select your iOS or Android operating system.
- You will be redirected to the official App Store or Google Play where you can start downloading.
System requirements
Compatible with Microsoft Windows 2008/7/8/10 operating systems. Internet speed of 56 kbps or above. The FxPro MT5 mobile application requires a smartphone running iOS 11.0 or Android 5.0 or higher. The application also requires a stable internet connection for optimal functionality.
How to login
So, how to connect FxPro to MT5? Simply use the login and password that you will receive by mail when you open an MT5 account on the FxPro platform.
For PC - launch the platform and then:
- In the window that appears, enter the login, password and server sent to your email when you opened the account.
- Or in the ‘file’ menu select ‘Sign in to trading account’ and enter login and password details.
To access the mobile app:
- Open the MT5 app on your device.
- Tap the settings icon in the bottom right corner.
- Select the ‘New Account’ option.
Select your company name.
Enter your account number, password and server information.
- These details are available in an email to you.
- Click ‘Sign in’ to access your account.
Available account types
In order to trade on the MT5 platform you need to open an MT5 account. To open an MT5 account:
- Log in to your personal cabinet and in the ‘Accounts’ section click ‘Create a new account’.
- Select the type of account and specify the required parameters as shown in the photo below.
- Click ‘Create’ to complete the account creation. After that you will receive your MT5 login and password to your email.
When setting up an MT5 account with FxPro, you have the flexibility to select from three different account types: Standard, Raw+, and Elite. Each type is available in either a hedging or netting configuration, providing six distinct options to tailor your trading strategy:
- Hedging: Engage in simultaneous buy and sell positions on the same currency pair to balance risks.
- Netting: Positions in the same instrument and direction are combined into a single trade, while opposite positions will offset each other.
- Hedging Elite
- Netting Elite
- Hedging Raw+
- Netting Raw+
The FxPro Hedging version account is particularly noteworthy for its ability to place opposing trades on the same pair, a strategy used to mitigate potential losses.
Assets available for trading
On FxPro MT5, traders have the opportunity to engage in a diverse and dynamic trading environment, with the ability to trade CFDs across multiple asset classes. This comprehensive platform allows you to explore a variety of markets, including:
- Forex:Trade major, minor, and exotic currency pairs.
- Metals:Invest in precious metals such as gold and silver.
- Indices:Access a wide range of global indices.
- Energy:Trade commodities like oil and gas.
- Stocks:Diversify with CFDs on a broad array of international stocks.
- Futures:Explore future contracts across different markets.
This breadth of options equips both seasoned and novice traders with the tools to diversify their portfolios and explore different markets from a single platform.
How to trade
Trading on the FxPro MT5 platform is straightforward and efficient. Here's a quick guide to help you get started:
- 1Setting Up Your Account:Sign up on FxPro's website, verify your account, and deposit funds to begin trading.
- 2Downloading platform Metatrader:Download the MT5 platform from FxPro, ensuring compatibility with your device (Windows, Mac, or mobile).
- 3Logging In:Launch MT5 and log in using the credentials provided in your account confirmation email.
- 4Opening a Trade:From the Market Watch list, select an asset, right-click, choose 'New Order', set your trade parameters, and click ‘Place’.
- 5Managing and Enhancing Your Trades:Monitor active trades under the 'Trade' tab, adjust trade settings as needed, and use MT5's analytical tools and resources like expert advisors to inform and enhance your trading strategy.
By following these steps and keeping informed via the economic calendar and news feeds on MT5, you'll be well-equipped to navigate and succeed in trading.
Advantages and Disadvantages
We have broken down and done a detailed review of the MT5 platform, let's summarise:
Advantages of FxPro MT5 Platform:
- Versatility:Supports trading across various markets including Forex, stocks, indices, metals, and energy products.
- Advanced Tools:Offers comprehensive charting capabilities, technical indicators and robots, and graphical objects.
- Algorithmic Trading:Enables automated trading through Expert Advisors (custom EAs) and the use of the MQL5 development environment for custom tools.
- Multi-Asset Trading:Allows trading multiple asset classes from a single platform.
- Risk Management Features:Includes options like stop loss and take profit functionalities, enhancing trade management.
- User-Friendly Interface:Designed to be accessible for both novice and experienced traders with customisable layouts and multi-language support.
Disadvantages of FxPro MT5 Platform:
- Complexity for Beginners:The wide range of features can be overwhelming for new traders.
- Resource Intensive:Can require significant system resources, especially when running multiple EAs or extensive backtesting.
- Limited Backwards Compatibility:MT5 does not support MQL4, meaning programs and scripts created in MT4 cannot be directly transferred to MT5.
- Broker Dependency:The actual range of features and assets available can vary depending on the broker, which may limit access to some of MT5’s capabilities
