If you asked any trader what their greatest wish is, it would probably be to predict future price movements of stocks and other securities as accurately as possible. Impossible as it may be to tell the correct price of a stock in the future, predictions have become easier and less risky thanks to trading platforms. With the right platform, traders can perform fundamental and technical analytics and use them to determine price movements in the markets. Among the top trading platforms for traders is MetaTrader 5 (MT5).
One of the most popular debates in the past few years is MetaTrader 4 vs MetaTrader 5. MetaQuotes Software Corp. released MetaTrader 5 in 2010, 5 years after the release of MetaTrader 4 (MT4). Although this was meant as an upgrade that would soon see MetaTrader4 obsolete, MetaTrader’s 5 popularity did not catch on as expected. Because of this, MetaQuotes retained both trading platforms.
However, traders have become more accustomed to MetaTrader5. In fact, it has become the go-to trading platform for most traders and finally has more users. And it is not just about the fact that they can see price trends.
Traders, like investors, need to diversify among asset classes and reduce the risk associated with trading individual stocks and securities. MetaTrader 5 has proven to be an excellent platform for traders to trade while diversifying their risks. Here’s why:
Supports Multiple Securities
Although trading more than one can help with some risk diversification, traders are not cushioned from market risks that affect every stock. That’s why traders look for platforms that support trading in different asset classes.
MetaTrader 5 is a multi-asset trading platform that allows traders to trade in different securities right from one platform. These can range from forex and stock trading to CFDs, futures, commodities, and cryptocurrencies. With a collection of two or more asset classes, traders can diversify their risks with MetaTrader 5.
Algorithmic trading has recently become a hot topic in the world of trading. The concept involves the use of available automated trading features or developing custom robots for one’s trading needs. These robots can trade the market or signal when suitable to deal. One of the many advantages of this is that traders do not have to be on the trading platform throughout to make a trade when necessary.
MetaTrader 5 has multiple automation applications. But perhaps what makes it even better for the platform is that traders can order custom robots for their trading needs from the available developers.
Economic Calendar Feature
Part of diversifying one’s trade is being on the watch for things that might trigger a reaction in the market. This way, you can exit or enter the market at the right time. The best way to go about this is to be up to date with the happenings in the world. Traders are always keeping up with news outlets to follow the happenings of the world and the markets they are interested in. MetaTrader 5 has made it easier for traders with its economic calendar feature. It gives traders access to market events that may influence the prices of securities in their areas of interest, allowing them to make trading decisions on time.
Traders rely on accuracy and speed. Therefore, it is important to use a trading platform that is fast and powerful. MetaTrader 5 does not disappoint on this end. It operates at a higher speed. It is a 64-bit multi-threaded platform for starters, whereas some of the available platforms use a 32-bit single-threaded platform. Second, MT5 has 4 dedicated servers for trading, access, history, and backup. Due to this, MT5 is smooth, fast, and efficient, making it easier for traders to have instant access to trading information for better decision-making.
It is not hard to see why MetaTrader 5 has become popular amongst traders looking to diversify their investments. Apart from its high speed, it also comes with an economic calendar and access to news. In addition, it supports automation, allowing traders to rely on their vast applications and access to developers for custom robots. Most importantly, traders have access to multiple asset classes, which is one of the best ways to diversify one’s portfolio.