Are you ready to download the MetaTrader 5 platform for your Windows PC? Here’s how to get MT5 up and running in just a few steps:
- Download and install
- Log in to the terminal
- Get to know MetaTrader 5
- Place a market order
- Place a pending order
To start the installation:
- Run the file you’ve just downloaded and follow the instructions.
- You should now see a new window containing the license agreement. Read the agreement and, if you agree, select Yes, I agree with all the terms of the license agreement, then click Next.
If you’d like to change any information, you can click Settings.
- The installation process may take a few minutes, so you have time to make yourself a cup of coffee or tea while you wait. When the progress bar disappears, click Finish.
So, you’ve installed MT5, but how do you launch the platform? Well, there are two ways.
You can either:
- Click on the MT5 icon on your desktop; or,
- Go to the Start Menu and click Start > Programs > MetaTrader 5.
✅ Installation - Done!
✅ Platform launch - Done!
You’re now ready to connect your existing Exness trading accounts to MT5. Read on to find out how.
Now that you’ve installed MT5 on your Windows PC, it’s time to get your Real and Demo Exness accounts set-up too:
- Click Connect with an existing trade account.
- Enter your login credentials and select your server.
- Click Finish.
If this is the first time you’ve used the MT5 platform, let us give you a tour of some of its main features.
MetaTrader 5 may feel familiar if you’ve ever used MT4. You’ll find the Main Workspace in the centre of the screen, the Toolbox at the bottom, and the Market Watch and Navigator windows on the left of your screen, and you can open and view multiple charts alongside them.
Market Watch Window
View the real-time rates of the instruments you are most interested in via the Market Watch window. You can customise it to suit your trading preferences simply by clicking on + to add a currency pair or other tradable asset, or right click on your mouse to view even more options.
Look at the bottom of the Market Watch window. can you see Symbols, Details, Trading and Ticks? Click between the tabs to view a variety of information about the displayed tradable assets.
Click on the Symbols tab to see the current ASK (Buy) and BID (Sell) prices per asset.
If you want to view statistics for a particular instrument, click on the Details tab. Remember to select the asset you want details for in the Symbol tab first.
You’ll be able to see statistics like:
- Bid: The Bid price
- Bid High: The highest Bid price of the day
- Bid Low: The lowest Bid price of the day
- Ask: The Ask price
- Ask High: The highest Ask price of the day
- Ask Low: The lowest Bid price of the day
- Last: The last price at which an order was executed
- Last High: The highest price that a deal was executed during the day
- Last Low: The lowest price that a deal was executed during the day
Trading Tab (One Click Trading)
You’ll see all the assets you have in your Symbols tab displayed under the Trading tab. You’ll need to enable the One Click Trading Option to use this feature, otherwise clicking Buy or Sell will trigger an order creation window.
Want to see a tick chart? Choose an asset in the Symbols tab and then switch to the Ticks tab, where the last 2000 ticks should be visible.
By the way, a Tick is a minimum measure of price in an upward or downward direction.
Tip: Right click on any of the Market Watch windows to view all the available actions. Explore MT5 and make sure to right click on the different areas to reveal useful functions. Right click is your friend when it comes to getting to know exactly what the platform can do.
Here’s an example of a right click that can help you to reduce bandwidth. There are plenty more functions to discover, so start exploring the platform now:
- Go to the Symbols tab.
- Right click on an asset.
- Click Hide.
Another simple, but very useful, function is dragging and reordering assets in the Symbol tab.
In your Navigator window, you’ll find:
- Your accounts - Click to switch between your MT5 trading accounts, login to accounts, add new accounts, login to MQL5 or register a virtual server.
- Indicators - You can run a wide range of indicators. To activate an indicator, double click and fill in the parameters.
- Expert Advisors - Want to try automated trading? Click on your Expert Advisor of choice.
- Scripts - There are various scripts designed to make your trading day run like clockwork. Just drag and drop them onto a chart.
Your main workspace on MT5 is customisable. You can display up to four charts and apply indicators to help you to analyse price movement.
Once again, if you right click on your mouse, you’ll reveal a great range of functions.
It’s really easy to switch between chart types (candlestick, bar or line) by clicking on the icons on the top menu.
Want to change the time period for a specific chart? Use the time frames toolbar, which you can launch by clicking on View >Toolbars >Timeframes. Or, go to Charts >Timeframes.
You’ll find the toolbox at the bottom of your MT5 window. It’s the place to see your open and pending trading positions, market news, trading history, alerts, mail logs and so much more.
The Toolbox is fully customisable so you can add the tabs you want to see and hide the ones you don’t need. Want to modify or close an order, this is the place.
Click on History to see your past trades and how profitable, or not, they were.
Notifications can be a mine of information and your Mailbox keeps them safely organised in one place. Check it to see if we’ve sent you anything useful.
Your Journal is a really useful place if you want to check the MT5 log files, which documents everything about the operation of the terminal. Want to see more about an event? Right click. Simple.
You can find the New Order command in the menu bar or by clicking Tools > New Order.
When you click New Order, a new window will popup. You can now set your preferred symbol, transaction size, Stop Loss and Take Profit levels.
To place your order, click Buy or Sell.
To close a position, click on the order you want to close in the Trade tab of the window that runs along the bottom of the platform. Click Close Position > Close, or simply click ✖️. That’s it, your order should now show as closed.
If you want to place a Pending Order rather than a Market Order, follow these steps:
- Open a new order by clicking the New Order icon in the toolbar or by clicking Tools > New Order.
- There are 6 pending order types to choose from in MT5 (Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit and Sell Stop Limit). You can also place Stop Loss and Take Profit levels.
- So, select the Symbol you want to trade, set your Volume and specify your pending order Type.
- Then set your Price, Take Profit, Stop Loss levels and Expiration.
- Finally, click Place and your pending order will appear in the Trade tab.
Please note that Expiration can be:
- Until canceled
- A specific date and time that you choose
If you choose a date that falls during a weekend, your order will expire before market close at the end of the current week.
How to modify or delete a pending order
It’s quite easy to modify or delete a pending order that you have opened. Here’s how:
- Right click on the pending order you want to modify in your Trade tab.
- Click Modify if you want to change your pending order in some way.
- Click Delete if you want to cancel your pending order completely.