How to Use MetaTrader 5:
A Step-by-Step Guide

MetaTrader 5 (MT5) is a popular trading platform known for its precision, flexibility, and in-depth market analysis capabilities. Whether you trade forex, indices, metals, or commodities, MT5 delivers the necessary tools and speed for active trading.

Your journey starts here

In this guide, we walk you through the basics of trading on MetaTrader 5 with easyMarkets. By the end, you'll understand what MetaTrader 5 is, how to open a real forex account, and how to access MT5 so you can trade with confidence. Let's get started.

Step 1: Create your easyMarkets account

First, you must access the platform:

Head to easy-markets.com and sign up for a new account.

Complete the quick KYC (Know Your Customer) verification by uploading your ID and proof of address.

Fund your account by clicking the ‘Deposit Funds’ button in the menu bar.

During the deposit process, you may choose MT5 as the destination of your funds, and you can contact easyMarkets to request your MT5 login credentials; they will be sent to your registered email.

If you’re not ready to trade live, you can open a demo account and practice without risk. It’s a good way to explore the platform and build familiarity before committing real funds.

Step 2: Download and install MetaTrader 5

Next, install the MetaTrader 5 platform on your device.

Download the installer: Click here to download MT5 for easyMarkets.

Run the installer and follow the on-screen instructions.

Once installation finishes, the MT5 terminal launches automatically.

If you prefer to trade on the go, easyMarkets MT5 is also available on mobile and through web access.

MT5 syncs and works seamlessly across devices, so you can monitor your trades at any time and from any location.

Step 3: Open an MT5 demo or live account

You have two options when you first access MT5: Open a demo MT5 account or log in to your live MT5 account.

MT5 demo account

An MT5 demo is for practicing without putting funds at risk. It is a useful way to learn how to use MT5 in a low-pressure environment.

Click ‘File’ in the menu bar, then ‘Open an Account’.

Search for and select the company ‘Blue Capital Markets Limited’.

Select ‘Open a demo account to trade virtual money without risk’.

Enter your details.

MT5 will generate a username and password for your MT5 demo.

MT5 live account

To trade with real funds:

Request MT5 access by contacting a representative through your easyMarkets dashboard.

Receive your login credentials by email.

In MT5, click ‘File’ in the menu bar, then ‘Open an Account’.

Search for and select the company ‘Blue Capital Markets Limited’.

Select ‘Connect with an existing trade account’ and enter your login and password. The ‘Server’ field should be ‘easyMarkets-Live’.

Click ‘Finish’.

Once connected, you’re ready to start trading live markets. Remember, if you’d prefer to explore the platform first, your demo account is always available.

Step 4: Place your first trade on MT5

On MT5, you can trade manually or with one-click trading.

1. Manual trading:

Double-click a currency pair in the ‘Market Watch’ panel.

Choose your ‘Volume’ and select ‘Buy’ or ‘Sell’.

That’s it. You’re now in the market.

2. MT5 one-click trading:

For faster execution, activate one-click trading via Tools > Options > Trade.

Accept the Terms and Conditions.

Once enabled, you can trade directly from your charts with a single click. It’s a fast, simple, and precise way to act on the markets.

To close a trade, right-click the position in the ‘Toolbox’ panel and select ‘Close Position’, or click the ‘x’ icon on the right-hand side of the position listing.

Step 5: Customise MT5: charts, tools, and Expert Advisors

MT5 offers a wide selection of features:

✓

Charts: Drag any asset from Market Watch into the chart window to begin your analysis.

✓

Timeframes: Choose timeframes from one minute to one month, giving you the flexibility to monitor price movements at different levels of detail.

✓

Indicators: Access more than 80 built-in technical indicators, or create your own using the MQL5 programming language.

✓

Expert Advisors (EAs): Automate your strategy by dragging an EA onto your chart and enabling algorithmic trading. EAs run your rules around the clock, even when you’re away.

✓

Depth of Market (DOM): Right-click any symbol, then select Depth of Market to view real-time pricing layers and order book data.

Step 6: Manage your account with ease

easyMarkets keeps things straightforward for you, even when the markets don’t:

✓

Deposits and withdrawals: Manage your funds on MT5 through your easyMarkets Web Platform, or easyMarkets Trading App.

✓

Switch profiles: Use the ‘Navigator’ panel in MT5 to switch between your accounts.

✓

Check instrument specifications: Right-click a symbol, then select ‘Specification’ to view spreads, margin requirements, swaps, and more.

✓

Reset passwords: Whenever you wish to update your login details, go to Tools > Options > Server. Enter your new password and click ‘Change’.

MT4 vs MT5:

Which platform is right for you?

You may be wondering why certain traders prefer MetaTrader 5 while others stick to the familiar MetaTrader 4. Here’s a quick comparison:

Feature	MT4	MT5
Timeframes	9	21
Built-in indicators	30	80+
Order types	4	6 (including Buy Stop Limit and Sell Stop Limit)
Depth of Market
Economic calendar
Programming language	MQL4	MQL5 (faster, more flexible)
Asset classes	Primarily forex and CFDs	Forex, CFDs, indices, metals, commodities, and more

In short, MT5 offers more timeframes, more indicators, more order types, and a built-in economic calendar. If you’re starting fresh or looking for greater analytical depth, MT5 is the stronger choice.

Regardless, many traders still prefer MT4 for its lightweight build, broad broker support, large ecosystem of community tools, and familiarity.

Important tips before you begin

✓

Connection status: Check the bottom-right corner of the platform for a green connection-bars indicator to confirm you’re online.

✓

Watch your margin: In MT5, the ‘Trade’ tab in the ‘Terminal’ panel displays your real-time equity, used margin, and margin level so you can monitor your exposure in real time.

✓

Know the stop-out rule: easyMarkets applies a stop-out level of 30% to help protect your account from excessive losses.

✓

Monitor swap rates: Overnight fees apply to positions held open; always review these before holding a trade beyond the trading day.

✓

Manage your risk: easyMarkets offers floating spreads from 0.6 pips and negative balance protection on MT5.