Originally, the MT5 was sent into beta testing all the way back in 2010, so it’s a long awaited app that’s been in production for a very long time. With so many features, including strategy testing, one-click trading, all the different charts and analysis tools, and the MQL5 programming language, it’s no surprise that it took so long to perfect.
With a better interface and a sleeker look initial reviews were generally good and actively promoted the MT5 app. Brokers have been slow to take it up as their mobile software program of choice, as already mentioned, but one major broker called Alpari were one of the first to integrate Metatrader 5 into their trading platform as an Android app. This encouraged some other brokers to follow suit and take up the app as well. This caused the popularity levels of the MT5 to rise up again.
What encourages people to take up this app instead of the tried and tested MT4, though?
Well the fact that it’s many more analysis tools than the MT4 is a major consideration. Whilst it’s not really an attraction for those who rely almost solely on fundamental analysis to make their decisions, it’s a big boon for fans of technical analysis. Furthermore, the fact that the new MQL5 language makes it easier to deal with EAs is an additional benefit. Now optimising new automated trading programs can take minutes, instead of the days it tends to take when utilising MT4.
Where to get the App: You can download the MT5 android app from MetaQuotes or the android marketplace. Little Tip: Register with Alpari or a similar broker (that uses the MT5 mobile platform facility) to create a demo account using the brokers’ server technology. This enables you to dummy trade on the live financial market and gives you an opportunity to check out the connection speed on your android mobile device.
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