Easy money on the go!
Forex trading has been gaining popularity since 2001. After the financial crisis in 2008, it has become one of the ways through which an individual can earn money with a computer and Internet. You can also trade currencies on your mobile devices now.
MetaTrader 5, developed by MetaQuotes Software Corp., is the fifth version of the popular application MetaTrader. Users need an account to get into it or they can sign up for a demo account from the homescreen of the app. The mainscreen of MetaTrader 5 features four sections – Quotes, Charts, Trade and History.
The Quotes section features real-time prices for the currencies – users can visit chart and properties for a particular currency or place a new order straight from here. The Charts area helps in detail technical analysis by presenting charts with seven timeframes – M1, M5, M15, M30, H1, H4 and D1. Scroll and pinch zoom are there to offer things in a better light.
The Trade section offers the list of Profit, Balance, Equity, Margin and Free Margin, while the History area of the app has all the orders and deals. Users can get details for that particular day, week, month or for three months from here. Customizing this duration to get details for a particular period of time is also possible. Users can add an account by accessing the Account area from Menu. They can have any number of accounts within MetaTrader 5. That is really impressive!
People using MetaTrader 4 would find it easy to handle things with MetaTrader 5. However, this fifth version lacks few of the features of the MetaTrader 4 – especially the indicators. Investors would always look for it before placing the order. It also consumes some battery as it updates in real-time. Let us hope that the developers will fix these things while presenting the next version of the app.
MetaTrader 5 needs Android 2.1 and up and this is one of the most popular Forex trading applications in Google Play. This free app has already crossed 50k downloads. It is also available for iOS.