Welcome to our guide on how to install, set up and get trading with the MT5 trading terminal.
To install MetaTrader 5 for Windows:
- Download the MT5 installation file.
- Run the file from your browser or double-click the installation file from where it downloaded.
- You can modify where you install MT5 by clicking Settings for your preferences, or simply click Next to agree to the End-User License Agreement and continue.
- When the installation is complete, click Finish and it will open MT5 automatically.
- For your first log in: close the window titled “Open an account” by clicking Cancel. See the instructions below for “Logging in” to log in with your Exness trading account.
Watch the video to find out how to log in with an Exness trading account, or follow the instructions below:
- Click File > Login to Trade Account.
- Enter your trading account’s Login, Password, and Server then click Login.
- This information is in your Exness Personal Area. Under “My Accounts”, click the cog icon next to the trading account of choice, and select Account Information for the MT5 Login and Server. Your password is the same as set in the PA.
- If successful, you will hear a confirmation chime. You have now logged into MT5 with your trading account.
Note: For MT5 default accounts created during Exness registration, your Personal Area password can be used to log into that trading account. It is recommended that you change your default trading password as soon as you can.
Having difficulty logging in? Try our troubleshooting guide.
Switching between trading accounts
To switch between different MT5 trading accounts, follow the steps below:
- While logged into your trading account, click File > Login to Trade Account.
- Sign in with your other trading account’s number, password and corresponding server; then click OK. You can make switching quicker for next time by ticking Save password.
You can switch between active trading accounts by going to File > Login to Trade Account - use the drop down menu in the Login entry to choose any previously logged in trading accounts.
Configuring the platform
Watch this video and find out all about it.
To open a new order, you have four options:
- Click New Order in the toolbar.
- Click F9 on your keyboard.
- In the Market Watch window, right-click on the trading instrument you want to trade and click New Order.
- Double-click the trading instrument in the Market Watch window.
- Open a New Order, by double-clicking the instrument in the Market Watch window.
- Select your preferred symbol and volume, as well as the optional Stop Loss and Take Profit levels. If you want to check the execution type you can find it under Type. Execution type is auto-detected based on the instrument you choose and your account type.
- Click Sell by Market or Buy by Market to place the order.
- Double-click on the order you want to close in the Trade tab of the Toolbox section that runs along the bottom of the terminal.
- Click the yellow Close by Market button.
- Alternatively, you can also right-click on your order and choose Close Order; if One-Click-Trading has never been activated, you will be prompted to enable it; this method will then work when you try it again. Another simple way would be to simply click the x beside your order in the Trade tab.
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). To close a position you can use Stop Loss and Take Profit.
- Click the New Order icon in the toolbar on the top or click Tools > New Order.
- Select the Symbol you want to trade in, set your Volume and specify your pending order Type.
- Set your desired Price, Take Profit, and Stop Loss levels, and Expiration. Note that setting up Take Profit, Stop Loss, and Expiration are optional.
- Click Place to set up your pending order.
Note that if you choose an expiry date that falls during a weekend, your order will expire before the market closes at the end of the current week.
To modify/delete a pending order:
- Right-click on the pending order in the Trade tab and click Modify or Delete.
- If you want to modify, the fields available for modification are Price, Stop Loss, Take Profit and Expiration date. Once done, click Modify.
- If you want to delete your pending order, simply click on the Delete option.
Note: Please follow Stop Levels when setting up Pending orders (including SL and TP).