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MetaTrader 5

MetaTrader 5

Free multi-asset trading platform for forex, stocks, and futures with automated trading support.

softwarePersonal Financeforex-tradingalgorithmic-tradingmql5
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Our Verdict

Best for

Traders who want a free, broker-agnostic terminal with strong automation and backtesting via MQL5.

Skip if

You want an all-in-one app with a built-in account and no separate broker setup.

What is MetaTrader 5?

MetaTrader 5 (MT5) is a trading terminal developed by MetaQuotes and distributed free of charge through brokers that support it. It provides charting, technical and fundamental analysis tools, and order execution for forex, stocks, futures, and other instruments offered by the connecting broker. MT5 supports algorithmic trading through its MQL5 programming language, letting users build custom indicators, scripts, and automated Expert Advisor trading robots, plus a built-in strategy tester for backtesting. A Signals feature lets users subscribe to copy other traders' positions, and the platform is available as a desktop terminal, web terminal, and mobile app.

SpecificationsAI-estimated

deploymentDesktop App
open source❌ No
api available✅ Yes
support optionsBroker-provided support, MQL5 community forums
key integrationsBroker trade execution, MQL5 Market for add-ons

Key Features of MetaTrader 5

Native support for forex, stocks, futures, and other instruments depending on which broker supplies the connection.
MQL5 language lets users code custom indicators, scripts, and fully automated Expert Advisor trading strategies.
A built-in strategy tester backtests and optimizes automated strategies against historical price data.
The Signals service lets users browse and subscribe to copy trades from other MT5 traders.
Depth of Market and one-click trading tools support fast manual order entry.
Desktop, web, and mobile terminals sync charts, watchlists, and open positions across devices.

Use Cases for MetaTrader 5

1

Automated strategy trading

Developers code Expert Advisors in MQL5 to execute trading rules automatically without manual intervention.

2

Multi-asset manual trading

Traders place and manage forex, futures, or stock orders through a broker's MT5 connection.

3

Strategy backtesting

Users test indicator- or rule-based strategies against historical data before risking real money.

4

Copy trading

Users subscribe to the Signals service to automatically mirror trades from other MT5 traders.

Pros & Cons of MetaTrader 5

Pros

  • Free to download and use through any broker that supports MetaTrader 5
  • Deep automation support via MQL5 for building and backtesting trading robots
  • Wide broker support makes it usable for forex, futures, and stock accounts depending on region
  • Available on desktop, web, and mobile with synced accounts

Cons

  • Requires a broker account to actually place live trades; the terminal alone doesn't execute orders
  • Interface and setup are less beginner-friendly than simpler mobile-first trading apps
  • Feature availability (instruments, leverage, signals) varies significantly by which broker supplies the connection

Frequently Asked Questions

Is MetaTrader 5 free?

Yes, the platform itself is free to download; you connect it to a live or demo account through a supporting broker.

Do I need a broker to use MT5?

Yes, MT5 is a trading terminal, not a broker; it needs to be connected to a broker account to place real trades.

Can I automate trading strategies in MT5?

Yes, using the MQL5 language to build Expert Advisors, custom indicators, and scripts.

Is MT5 available on mobile?

Yes, MetaTrader 5 has iOS and Android apps that sync with the desktop and web terminals.

Pricing Overview

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Free

Detailed plans are not listed. Visit the official website for pricing information.

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About the Product

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Platforms
WebWindowsMacLinuxiOSAndroid
Target AudienceForex, futures, and stock traders who want automation and broker flexibility

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