Meta Trader 5 is the advanced multi-asset platform of MetaTrader 4 which is used for trading and training with demo accounts, trading forex, stocks and other financial instruments.
Meta trader 5 allows traders to learn both fundamental and technical analysis. Another feature offered is automated trading using robots and trading signals.
This application can be installed via PC, laptop or smartphone, making it easier for users to trade stocks anywhere and anytime.
How to Use the Meta Trader 5 Demo Account Trading Platform on an Android Phone
The following is a tutorial on using Meta Trader 5 as a demo account via an Android smartphone:
· Install MetaTrader 5 by doing a search in the playstore. After downloading it and opening the app you will automatically have an MT5 demo account .
· Demo account is an account that only uses virtual money which is used for practice only.
· Then select the indicator that will be used to analyze the candlestick chart technically.
· You can choose to ignore too many indicators to make the candlestick chart look simpler, such as Bollinger Bands, Moving average, MACD, and so on.
· The “Quote” menu is a list of currency pairs (major/minor pairs) and is available with ask (right) and bid (left) prices.
· Ask price is the price of your base currency and is always higher than the bid price. While the bid price is the price that will be obtained when selling the base currency.
· Then select a currency pair and click "new order" Then specify whether you want to sell (sell) or buy (buy) by pressing the "SELL" or "BUY" button and the order will be opened immediately.
· After you open an order, the Trade tab will automatically appear showing the price movement so you can see the open positions at any time.
· To close or modify a trade, press and hold the open trade until the option appears. Then select the Reposition or Close Position option.
· After you press the close button, the trade will be closed and the profit amount will be added to the account.
· In addition, to view candlestick charts, select the "Chart" option to view technical price movements.
· It also shows timeframes starting from M1, M5, M15, H1, H4, D1, W1, MN.
· On the chart tab, you can also open a trade by pressing the Trade button. Also study the other menus available in the MetaTrader 5 application to better understand how to analyze forex trading technically.
There is a difference when you use a real account registered with a futures brokerage company and use the margin you deposited.
How to Use Meta Trader 5 Real Account on Android Phone
How to use Metra Trader 5 for real account traders on Android:
· After you are registered with the intended broker, install Meta Trader 5 on the Playstore.
· Open the app, then there are 3 options: “Open a real account”, “Open a personal demo account”, and “Log in to an existing account”.
· Select "Log in to an existing account" Then type the name of the brokerage company in the "search broker" box to enter the server.
· Log in with the account and password on the "login" menu, each user opens a new account.
· The broker's server will send an email containing the account number and password. If you can login, you can now trade.
· The “Quote” menu is a list of currency pairs (major/minor pairs) and is available with ask (right) and bid (left) prices.
· Ask price is the price of your base currency and is always higher than the bid price.
While the bid price is the price that will be obtained when selling the base currency.
· Then select the currency pair to be traded, then select “New Order”.
· Enter lots in the top box (-0.1; -0.001; 0.01; +0.1; etc.).
· Then specify whether you want to sell (sell) or buy (buy) by pressing the "SELL" or "BUY" button and the order will be opened immediately.
· After you open an order, the Trade tab will automatically appear showing the price movement so you can see the open positions at any time.
· To close or modify a trade, press and hold on the open trade until the option appears, then select "Close Position" or "Modify Position".
· Once you press the close button, the trade will be closed and the profit will be added to your balance.
· In addition, to view candlestick charts, select the "Chart" option to view technical price movements.
· On the chart tab, you can also open a trade by pressing the Trade button.
· Also study other menus and enjoy trading anywhere and anytime.
The Meta Trader 5 app is an easy-to-use app for forex traders. Besides that, other advantages of this application are that it has more time frames up to 21 time frames, a forex calendar that can be used for daily fundamental analysis, more choices of indicators to help with technical analysis.
When wanting to make a real transaction, the user must register with a secure futures broker and be registered with BAPPEBTI.
