MetaTrader 5 Web Terminal: A One-Stop Web Trading Platform for Forex, Stocks, and Commodities

There’s a huge variety of trading platforms out there but I could hardly ever find a comprehensive forex and stocks trading platform which I could access easily on the web without having to install it on my desktop or mobile. But MetaQuotes, the Cyprus-based company behind the famous MetaTrader 4 and MetaTrader 5 trading platforms, solved this common problem of traders as it recently launched the MetaTrader 5 Web Terminal, which is easily accessible on any device, including Windows, Mac, Linux, Android, and iOS.

I was thrilled to see that almost all basic, as well as advanced features available in the desktop version of MetaTrader 5, are available in the MT5 web terminal.

MetaTrader 5 Web Terminal Features

Some of the most important and noteworthy factors that make MetaTrader 5 Web Terminal worth a try are:

  • • You can trade forex, stocks, commodities, and futures from any browser or device without having to install the tool.
  • • Compatible with Windows, Mac, Linux, Android, and iOS.
  • • Supports netting and hedging accounting systems for trading positions.
  • • Offers 3 types of chart display and 9 timeframes (time periods).
  • • Offers 30 indicators and 24 graphic objects for technical analysis.
  • • You can view real-time quotes in Market Watch of the MT5 web terminal.

Let’s first quickly see some of the most important factors that make MT5 stand out before jumping to a detailed review of the MT5 web terminal.

What Makes MetaTrader 5 Special?

The biggest difference between MetaTrader 4 and MetaTrader 5 is that the former is more geared towards forex traders while the latter is for a wide range of traders who want access to multiple asset classes and securities in addition to forex. These include broader market indices and commodities.

Some important factors which make MT5 better than MT4 are:

  • • Backtesting is much faster in MT5 as compared to MT4 because MT5 multithreaded and supports multiple cores, external servers, and customized Cloud-based systems.
  • • MT5 has more user-friendly GUI-based options to make custom indicators.
  • • In MT5 you can enjoy strong bot support and run your custom bots on hundreds of machines at the same time.
  • • MT5 protects compiled files and has the ability to enhance protection through the Cloud.
  • • MT5 has 6 order types, while MT4 has 4 order types.
  • • MT5 gets continuous updates and refreshes while MetaTrader 4 is set to retire in the coming years.

Like MetaTrader 5 desktop version, the MT5 web terminal is not restricted to forex trading. You can trade stocks, metals, energy, commodities, and much more. You can trade international stocks and access broader indices of non-US markets as well.

Accessing the MT5 web terminal is super easy. I simply opened the MT5 web terminal link and started playing around with the platform by opening a demo account first:

After launching my demo account, this is the first screen I saw on the web terminal:

There are two most important windows in MetaTrader 5 Web Terminal where traders spend most of their time. The first is the charts window, visible in the center of the screen. The second is the Market Watch window, which is visible on the right side of the screen shown above. From here you can access forex, stocks, commodities, and other assets — collectively known as “Symbols” in the MT5 world.

Unlike the comprehensive toolbars and menu items of the desktop version, the design of the MT5 web terminal makes it very easy to find the most important and frequently required options.

It’s worth mentioning here that the number of asset classes and options you can access/trade in this tool would depend upon your broker. For example, some brokers may disable non-US equities for their clients if they think they are not necessary.

To access stocks, forex or commodities, just type their name in the “Search Symbol” text box in the Market Watch window and click the “+” sign.

Here I’m adding S&P 500 Index to my Market Watch window.

After clicking the “+” sign, the asset will appear in the Market Watch window. Just double-click your symbol and start trading.

Charts in MetaTrader 5

One of the most important and handy features of the MetaTrader 5 web terminal is the variety of charts it provides on the go. The MT5 web terminal makes it extremely easy to access and maneuver charts. There are primarily three types of charts in the software: bar, candlestick, and area. You can quickly change the type of charts from the options visible in the top left corner of the screen.

You can access chart settings from the hamburger menu icon on the top left side.

Chart Screenshots

Another thing that I liked about the tool is the screenshot feature for charts. You can click the “Save Chart as Image” option visible on the right corner and instantly download any chart as an image. You can also hit CTRL+S to use this feature.

Timeframes

You can also select different timeframes for your charts for a better analysis. The MT5 web terminal allows you to select timeframes on the go as they are visible on the tool’s quick bar.

Objects

MetaTrader 5 web terminal also lets you draw on and around the charts. You will see a number of options on the left side of the terminal screen where you can access shapes and objects like trend line, horizontal line, ray, extended lines, regression channel, Gann line, Fibonacci retracement, and much more.

Market Watch

The most important and frequently used feature of the tool is the Market Watch window which usually appears at the center of your working screen in the web terminal. Here you can add symbols (forex, stocks, commodities, etc.) and do the actual work of analysis/trading. By using the rightmost option on the web terminal’s quick bar you can hide or view the Market Watch window.

One Click Trading

MetaTrader 5 makes it extremely easy to view live market prices. You can view the market prices on your charts window, but a more convenient way is to use the Market Watch window which shows the Ask and Bid prices in a tabular fashion. You can also hit Buy and Sell buttons on the “One Click Trading” window you see with your charts. If you cannot see this feature with your charts, just enable it from the menu.

Percentage Change Calculation

Being a stock analysis writer I need to see percentage declines and gains for stocks all the time and I hate going back to Google Finance or Yahoo Finance to see these metrics, especially when they involve long date ranges. I loved the percentage drop/gain feature of the MetaTrader 5 web terminal. Using the crosshair option, you can calculate the percentage change between any two points on your charts.

The crosshair option can be accessed from the left side of the working screen.

Indicators

Financial forecasting and making sense of chart patterns are impossible without indicators. It’s very easy to add important indicators like moving averages, moving average convergence divergence (MACD), relative strength index (RSI), and on-balance-volume (OBV) to your charts in MetaTrader 5 web terminal.

You can click the “Add Indicator” option available on the quick bar or press CTRL+I to start adding indicators.

Entering New Trades in MT5 Web Terminal

Entering trades is extremely easy in the MetaTrader 5 web terminal. First, select the symbol you want to trade from the Market Watch window and click the “New Order” button on the main quick bar.

In the dialog box that will open, select your order type and volumes. You can also specify stop loss and profit levels here. After these settings, you can click Buy or Sell to execute your trade.

Dark Theme in MT5 Web Terminal

You can apply a dark theme on the MT5 web terminal and I simply loved it. I found the dark theme better than the light theme. Here’s how it looks like:

Final Thoughts

If I were to compare the MetaTrader 5 desktop version and the web terminal, I can easily say that the web terminal is much easier to use, albeit lacking some advanced features of the desktop version. However, MetaQuotes is known for its rapid updates and I’m expecting many new features to roll out on the web terminal soon.

You can access the web terminal from any device. It’s free for individual users. To start trading, contact your broker’s representative to set up a working environment.

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