MetaTrader 5

Trading Terms and Platform Features  

The MT5 platform offers an extensive array of technical tools for market analysis. Its service enables users to personalize various chart types, apply indicators, and trigger scripts and advisors. The platform’s capabilities empower traders to scrutinize market conditions and make well-informed decisions.

MT5 provides support for automated trading options. The terminal comes equipped with pre-built robot variations. Users can seamlessly integrate advisors into the software without necessitating programming skills. This approach allows market participants to conduct round-the-clock trading without their direct involvement.

MT5 grants access to economic news and an events calendar. Users can keep track of significant global developments and their market-influencing announcements without the need to scour external resources.

The developers have considered traders who prefer mobile trading, creating a specialized mobile app. Metatrader5 offers fast order execution with minimal delays, crucial for volatile markets, and it supports deposits as low as 1 unit of the base currency. Spreads and commissions vary depending on the chosen broker.

How Scammers Deceive Traders on MT5

MetaTrader 5 is simply software. Its developers have obtained a license and ensure the quality of the service. Access is granted exclusively to legitimate brokerage firms, so using MT5 doesn’t inherently involve the risk of losses due to program malfunctions.

Nonetheless, fraudsters exploit the software’s strong reputation. They lack the capability to provide investors with the genuine platform version, hence programmers from unauthorized companies replicate it through code duplication. They assert the utilization of a plagiarized version (naturally, presenting it as the original) within the MetaTrader5 investment project, leveraging the positive software reviews, which serve as implicit promotion for the fraudulent project.

The altered platform lacks the features of the original. In reality, it’s a facsimile. The new software retains only the visual interface of MT5. Upon closer examination, it’s clear that the platform provides minimal functionality. Traders are offered a basic set of options: to buy, sell, configure trade volume, draw trend lines, and use a significantly reduced list of indicators.

Such platforms are manipulated by their developers. The platform’s algorithms are programmed to specific tasks, simulating trading activity and its outcomes. If the goal is to inspire clients to deposit more funds, trades are closed with profits. However, when traders are no longer seen as financial contributors, the market begins to move against them, ultimately leading to the complete loss of their accounts, purportedly due to incorrect market analysis.

These facades are employed by companies operating under the so-called “kitchen” financial scheme. Programmers must work diligently to create the illusion of price movement on the terminal screen.

Metatrader 5 – Investor Feedback

The MetaTrader 5 trading platform is user-friendly for the majority of traders. Traders who use its original version, provided by legitimate brokerage companies, leave positive reviews about their experience with the software. For instance, Daniil Budyansky, in his post, praises the platform’s straightforward interface, its advanced features, and its reliable performance.

Online, there are users who are familiar with the MT4 terminal, and they were not particularly impressed by its update to the MT5 version. These investors have no inclination to dive into the nuances of the new project, and they view the innovations as drawbacks. They express these sentiments in their MetaTrader 5 reviews. For example, Olga, in her comment, mentions the need for further exploration of the terminal and highlights the restriction on trading strategies with locks as a downside.

A distinctly negative tone characterizes the content of reviews about MetaTrader 5 from customers of fraudulent companies offering access to the supposedly legitimate platform as their primary trading platform.

Maxim, in his commentary on the terminal’s performance, notices its sluggishness when switching timeframes. In reality, this serves as a warning signal indicating potential risks of deception.

Expert Opinion

When selecting a broker for trading activities, one critical factor is the range of trading platforms supported by the company. The success of your trades depends on the proper functioning of the trading terminal. A registered software license is an assurance that your transactions won’t be tampered with by the financial service provider.

The platform should provide analytical tools that traders are accustomed to using. It’s advantageous if you can customize the appearance of asset charts, apply indicators, and automate trading. Ideally, the platform’s interface should be user-friendly.

Final Verdict

MT5 is widely embraced by traders due to its functionality and advanced features. Despite the favorable reviews of the platform, the crucial decision lies not in selecting the platform itself but in choosing the right broker for collaboration. It’s important to consider their reputation, legal status, trading conditions, and security level.