Are you a Forex trader looking for the latest technology that will help you become a successful investor? MetaTrader 5 is probably the right answer for you.
Some brokers offer online trading platforms with the MT5 technology, as a trader you want to make sure that you choose among the best MT5 brokers.
This choice, while doing all at the beginning of a traders’ path in the world of Forex, will have a huge impact on their future success. Making sure you choose the right broker for your trading style and level of expertise, as well as making sure they satisfy your investment needs, will make a world of a difference!
What is MetaTrader 5?
MetaTrader 5 is the most recent update of the software company MetaQuotes when it comes to online trading platforms. This Russian company has led the world of trading platforms for years and has made an internationally recognized name for itself.
MT5 features a few new things that will be interesting for certain traders. The new MetaTrader 5 offers new indicators and detailed reports. But what’s probably the most interesting aspect of this new online trading platform, is that it allows traders to deal with other assets, apart from currency.
Including equities and commodities has opened up this platform to include other assets in the future and make it more powerful than ever before.
Best Brokers offering MT5
MT5 is without a doubt the online trading platform with the latest technology. Even so, many brokers still offer MT4 platforms, and since both are not compatible, they remain different options for the traders, that can choose whichever they prefer.
FOREX.com. A broker that has earned first place as a Forex broker for several years now, and it’s considered the best overall. They support MetaTrader 4 and 5, which is an interesting offer for those traders looking to get started with MT5, still under the security of the well-known MT4.
At the same time, they offer a variety of educational tools, as well as different types of accounts, each with its own advantages, designed for different kinds of traders.
IC Markets. This is an Australian broker that features MetaTrader 4 and 5. As with each broker, other aspects make them attractive options, in the case of IC Markets, they offer leverage up to 500:1 and an interesting variety of currency pairs to invest in.
Admiral Markets. Our last choice today that also supports MetaTrader 4 and 5. This broker is thoroughly regulated and while high leverage is only available to professional traders and there are fewer currency pairs available, Admiral Markets is definitely the best choice when it comes to trading CFDs.
Tips for beginner Forex traders
Several things can maximize new traders’ chances of success in the Forex market.
Learn about the market
Traders, whatever their level of expertise, should dedicate the necessary time to learn how the market reacts in order to identify the entry and exit signs. This will prove useful.
Brokers offer a demo account that traders can use for some time before starting to invest their own money. There is no better time to learn about the market than this one.
Use the tools brokers offer
Traders should make sure they are familiar with the typical concepts of Forex, like leverage and margin, low spreads. Knowing these tools and how to use them will make them more successful.
Many traders avoid Forex because of the risk that comes with a large always-fluctuating market.
There are tools, like stop-loss, as well as strategies that can help traders avoid losing lots when trading in currency.