MetaTrader 5 (MT5) on Mobile: A Complete User Guide

MetaTrader 5 (MT5) on Mobile: A Complete User Guide

In the fast-moving world of trading, access to market information and effective trading tools anywhere and at any time is essential. MetaTrader 5 (MT5), an internationally recognised trading platform, is designed to meet this need. Its mobile app offers flexibility and a wide range of capabilities. This guide explores how to use MT5 on mobile, from getting started to using advanced functions, with expert insight to help you get the most from the trading app.

Key Takeaways

• MT5 for mobile is a comprehensive platform for trading a range of assets, offering flexible market access wherever you are.
• To get started, install the app from the App Store or Google Play and use the account details supplied by your broker.
• The mobile app includes tools for viewing charts, managing orders, and reviewing trading history.
• Chart types, timeframes, and other settings can be adjusted to suit your analysis preferences.
• Use MT5 effectively by combining risk management, practice on a demo account, and an understanding of its analysis tools.

What Is MetaTrader 5?

MetaTrader 5 is a multi-asset trading platform developed by MetaQuotes Software. It lets traders access a range of financial markets—including Forex, shares, indices, commodities, and even cryptocurrencies—through a trading account.

MT5 is designed for traders at every level, from beginners to professionals, with an easy-to-use interface, a range of technical-analysis tools, and the ability to execute orders quickly and precisely. MT5 also supports automated trading through Expert Advisors (EAs), programs that follow strategies defined in advance.

A key difference between MT5 and its predecessor MT4 is that MT5 supports a wider range of assets and more timeframes (21 compared with MT4's 9), along with more in-depth analysis tools such as Depth of Market (DOM) and a built-in economic calendar. These features make MT5 an appealing choice for traders who want to expand their trading scope and access more comprehensive information.

Getting Started with MT5 on a Mobile Device

Download and Install the App

The MT5 app is available for iOS and Android devices. Download the official app from the relevant app store:

For iOS (iPhone or iPad):

1. Open the App Store.
2. Search for “MetaTrader 5.”
3. Select “MetaTrader 5” by MetaQuotes Software Corp.
4. Tap “Get” or the cloud-download icon to install it.

For Android phones or tablets:

1. Open Google Play Store.
2. Search for “MetaTrader 5.”
3. Select “MetaTrader 5” by MetaQuotes Software Corp.
4. Tap “Install.”

After installation, the MT5 icon should appear on your device's home screen.

Connect a Trading Account to Your Broker

You need a trading account with a broker that supports MT5. If you do not already have one, register with a broker of your choice. The broker will provide the login details you need to connect the account to the app.

1. Open MT5: Tap the MT5 icon on your mobile device.
2. Manage accounts: When you first open the app, MT5 usually creates a demo account automatically. To add a real account, tap the menu (often a three-line icon in the upper-left corner) and choose “Manage Accounts.”
3. Add an account: Tap the “+” icon, usually in the upper-right corner.
4. Find your broker: Type the broker's name in the “Find broker” field. Examples include “XM,” “Exness,” and “IC Markets.”
5. Choose the login option: Select “Log in to an existing account” if you already have account credentials. The other option, “Open a demo account,” is for creating a demo account where available.

Enter Your MT5 Login Details

After choosing “Log in to an existing account,” enter the details provided by your broker:

• Login: Enter your MT5 trading-account number.
• Password: Enter the main trading password, not a read-only password.
• Server: Select the exact server specified by your broker. It may be labelled “Real,” “Live,” or “Demo,” or have a name such as “BrokerName-Live01.” Choosing the wrong server can prevent you from logging in.
• Sign in: After checking the details, tap “Sign In.”

If the credentials and server are correct, the account should appear in “Manage Accounts.” Check that the displayed broker and account number match the account you intended to connect.

Adjust Basic MT5 Settings

You can customise several settings from the app's main menu by choosing “Settings.” Labels and options may differ across operating systems or app versions.

• Charts
  • Chart type: Choose Bar Chart, Candlestick Chart, or Line Chart. Candlestick charts are the most popular for price analysis.
  • Volumes: Turn volume display on or off. Volume can provide insight into the strength of a trend.
  • Trade Levels: Display entry, Take Profit (TP), and Stop Loss (SL) levels on a chart.
  • Period Separators: Show separators for periods such as days, weeks, or months.
• Sounds: Turn notification sounds on or off, such as sounds when opening or closing an order or when the price reaches a specified level.
• Journal: Review app activity logs, which may help with troubleshooting connection or operation issues.

Adjusting these settings to suit your preferences can make it easier to read charts and make trading decisions—much like adjusting a car seat and mirrors before setting off.

Main MT5 Mobile Screens

Once you are logged in and have adjusted your settings, the app's main screens provide tools for viewing prices, charts, open trades, and past activity.

Quotes: Monitor Prices

The “Quotes” screen lists currency pairs, shares, or other instruments available through your broker. It displays real-time Bid prices (the price at which the broker is willing to buy from you) and Ask prices (the price at which the broker is willing to sell to you).

• Add or remove instruments: Tap the “+” icon to search for and add an instrument. Remove instruments you no longer want to display.
• View instrument details: Tap an instrument to see details such as its spread and daily high/low, or to open a chart or order ticket.

Charts: Review Price History

The “Charts” screen is a key analysis tool. It shows the story of past and current price movements and helps traders assess possible market trends.

• Chart type: Switch between bar, candlestick, and line charts.
• Timeframe: Select a chart period, from 1 minute (M1) to 1 month (MN), as available in the app and for the instrument. Comparing timeframes can provide broader and more detailed views of price action.
• Indicators: MT5 includes technical indicators such as Moving Averages, RSI, MACD, and Bollinger Bands. Depending on the version, tap the “f” icon on the chart to add an indicator. These indicators help analyse market trends, momentum, and volatility.
• Drawing tools: Use tools such as Trend Lines, Horizontal Lines, and Fibonacci Retracements to mark levels or areas you want to study.

Trade: Manage Orders

The “Trade” screen is used to view and manage open positions and orders, and to check account information.

• Open a new order: Tap the “+” icon, or choose “New Order” from the Quotes or Charts screen.
• Market Execution: Buy or sell immediately at the current market price.
• Pending Orders: Set an order to activate if the market reaches a specified level. The source lists Buy Limit, Sell Limit, Buy Stop, and Sell Stop.
• Set order details: Select the Volume (lot size) and, where appropriate, set Stop Loss (SL) to define an exit level for limiting loss and Take Profit (TP) to define a target exit level.
• Modify or close an order: Press and hold an open order and choose “Modify Order” to edit SL/TP, or “Close Order” to close it. Available actions and exact labels may vary.

History: Review Past Activity

The “History” screen records past trading activity. Here you can review closed orders, deposits and withdrawals, and total profit or loss over a selected period.

• Filter activity: Choose a period such as today, last week, last month, or a custom range, where available.
• Inspect an order: Tap an item to review details such as opening and closing information, price, time, and the recorded profit or loss.

Reviewing trading history is important for learning and improving your strategy, much like reading a travel journal before planning your next trip.

Further Considerations for Using MT5

Learning the basic functions of MT5 on mobile is only the beginning. The following expert suggestions can help you use the platform more effectively and develop your trading practice.

“MT5 is not just a tool; it can be your own laboratory. Experimenting, analysing, and learning from data are central to developing as a trader.”

1. Practise with a Demo Account

Many traders overlook demo accounts, but they provide a safe practice environment before you put real money into the market. Use a demo account to:

• Get familiar with the platform: Practise opening and closing orders, setting SL/TP, and using indicators.
• Test a strategy: Try new trading strategies without financial risk, evaluate the results, and refine your approach.
• Practise decision-making: Although the funds are simulated, practising decisions in real market conditions can help prepare you for the psychological pressure of trading with real money.

Think of a demo account as a flight simulator for pilots: before flying a real aircraft, pilots spend many hours in a simulator practising and correcting mistakes.

2. Consider Risk Before Placing an Order

MT5 settings are not just about appearance; they are also an important part of risk management. It is best to set a Stop Loss (SL) and Take Profit (TP) whenever you open an order. In general, do not risk more than 1–2% of your capital on a single trade.

• Calculate position size: Before opening an order, calculate a lot size that suits your account balance and your risk tolerance.
• Set SL and TP deliberately: Set your SL at a level that would show your trading idea is wrong if the price reaches it. Set TP at a level where a profit is possible based on an appropriate risk-to-reward ratio (such as 1:2 or 1:3).
• Understand Trailing Stops: For a profitable order, use a Trailing Stop to protect some of your profit while allowing the order to continue running.

Using these functions consistently can help protect your capital from excessive losses.

3. Use Analysis Tools with Care

In addition to basic indicators, MT5 offers more advanced analysis tools. Some are available on desktop, but their concepts can also be applied to mobile analysis.

• Depth of Market (DOM): Even though mobile may show limited DOM data, understanding the concept—orders waiting at different price levels—can help you understand liquidity and the strength of support and resistance.
• Economic calendar: MT5 has a built-in economic calendar showing news and important events that may affect markets. Following these events may help you avoid unnecessary trading during periods of high volatility or use the information to plan a trade.
• Multiple timeframes: Do not analyse only one timeframe. Check a higher timeframe (such as H4 or Daily) for the main trend, then a lower timeframe (such as M15 or M30) to look for an entry.

Using these tools wisely can give you a broader view of the market and more information for your trading decisions.

4. Protect Your Login and Trading Account

Your login details control access to your trading account. The original article recommends:

• Use a strong password: Use a complex password containing lowercase and uppercase letters, numbers, and symbols. Avoid passwords that are easy to guess.
• Keep credentials private: Never disclose your login details to anyone.
• Watch for phishing: Always make sure you are logging in through the official MT5 app or the correct broker website. Beware of suspicious emails or messages attempting to steal your information.
• Keep the app updated: Updating the MT5 app to the latest version helps you receive new features and security fixes.

Protecting your trading account is one of your most important personal responsibilities.

5. Develop Trading Discipline and Keep Records

A trading platform alone does not determine results. The source also recommends:

• Keep a trading journal: Record every trade, including your reasons for entering and exiting, how you felt at the time, and the result. This can help you recognise patterns and mistakes to correct.
• Manage emotions: Do not let greed or fear dominate your decisions. Stick to your trading plan and strategy.
• Get enough rest: Trading requires focus and sound decisions. Getting enough rest can help prepare you mentally for trading.

MT5 is a powerful tool, but you are the one at the helm. Strong discipline and trading psychology can help you navigate your way safely.

Summary

MetaTrader 5 (MT5) on mobile is more than a trading app: it is a comprehensive and powerful platform that gives traders access to financial markets anywhere and at any time. Its simple installation, broker-account connection using secure login details, and customisable settings make it an essential tool for modern traders.

Whether you are a beginner or a professional seeking more flexibility in managing your portfolio, MT5 on mobile has features to meet your needs. Understanding the Quotes, Charts, Trade, and History screens gives you the information and tools to make trading decisions effectively.

Above all, combine expert knowledge with serious demo-account practice, risk management, advanced analysis, account security, and trading discipline and psychology to take your trading experience further. MT5 on mobile is a powerful tool waiting for you to unlock its full potential.

Related Resources

• Gold and Bitcoin Trading Strategies: Building a Sustainable Portfolio (Thai)
• Decoding Success: The Path to Becoming a Professional Trader (Thai)
• Stock Trading for Working Professionals: Long-Term Strategies and Risk Management (Thai)
• Expert Review: Trading Strategies for Success in the Market (Thai)

Learn More About Trading Courses

Browse all course listings (Thai). The source article also links to an Online Futures course for people interested in SET50 Futures and gold trading. The course page is in Thai: View Online Futures course details (Thai).

For enquiries, contact the team through LINE (Thai). The original article also includes this LINE QR code.

Full Video

Watch the full video (Thai).

About the Author

Written and edited by Krittiya Khunabrimas (Kru Kook). Full-Time Trader with 14+ years of experience; 2019 DW06 trading competition champion; guest speaker for leading financial institutions and brokers.

Original source links

• Watch the original video (Thai)