5. Customizable

Let’s say you have a successful trading strategy to robotize and forget about routine market analysis and trading. How do you do that?

One of the major benefits of the Metatrader 5 platform is that traders are not confined to just utilise the built in analytical resources such as the Metatrader 5 tables, graphs and market indicators. Thanks to MQL5; a high performance programming language, traders can create their very own technical indicators and Expert Advisors utilizing heavy calculations for the most accurate technical analysis and forecasting.

This programming language is very powerful, and at the very same time, simple to understand or master. The beauty of MQL5 is that the developer does not need to think about connecting to the stock exchange or anything unrelated to the trading logic itself.

In order to create a trading robot for Binance you would have to be a programmer and need to know how to write complex code and solve a lot of problems not related to your trading strategy that you want to implement.

MetaTrader takes care of all of these problems, providing you with a very simple language, so that the only thing you need to care about is your strategy, and not something like : ”how do I allocate memory to store the incoming prices”.

All of the trading data is already there, sending orders is very straightforward, all messages are very uncomplicated. The whole technical level (communication, memory & stability) is hidden from the developer — you just write the logic of your trading strategy right away.

But what should you do if you are not that enthusiastic about programming?

6. Multi-market

MetaTrader software is used for trading on all of the imaginable markets. It would be a missed opportunity, if MetaQuotes (the company responsible for the development of MT) didn’t have a market of their own.

And they do! To be fair is is far from the market in its traditional sense, but it does not make it any less awesome.

Even if you don’t have a slightest clue about programming, even if you don’t know a single thing about trading — thousands of user-created trading robots and technical indicators are available in the built-in Market of Trading Apps.

Every product has a free trial version which you can test before deciding to pay for the full application version.

Just to paraphrase: you can use your money to purchase a tested working robot, with a single purpose of earning you more money.

“Crypto robots” sounds like something taken straight from a futuristic fantasy novel, but it’s already here.

7. Precautious

Trading robots and user-created indicators are; without a doubt, a wonderful addition to an already outstanding trading terminal, since pretty much all of the algorithmic trading is designed to save you money and cut the losses. However, these massive benefits might have been completely ruined with a single tiny issue.

Imagine purchasing an Expert Advisor only to find out that you have to test it first. You need to know all the settings, test out which assets does the robot work best with, tweak and change it until you are satisfied with the results.

Here is when the aforementioned issue comes to play. Testing the robot means letting it trade, but a working untested robot will lead to inevitable losses. Keep in mind, that the testing should be thorough and lengthy in order to locate all of the possible issues. So you would have to lose money, in order to figure out the necessary setting for making money!

This catch-22 is easily solved by the MetaTrader software by allowing Expert Advisors to be tested using the previous historical data with a help of the trading “strategy tester”.

During testing, the Expert Advisor goes through the accumulated quotes and performs virtual transactions according to its algorithm as was intended.

You can check out how much profit your trading robot would have made with a few simple clicks so that you never run a trading robot with real money without a proper thorough testing.

8. Comprehensible

You could probably tell that by yourself, through taking a small glance at the platform image, but the MT5 user experience is polished and refined, the interface is user-friendly, functional and its generally easy to master.

This is topped up by a number of neat features, such as a possibility of detailed report download, one-click trading and much more.

Most of these features would barely pass as a benefit, since forex traders have been using these instruments for well over a decade now. However things are different in crypto. For example, we are yet to see a trading history export option on any crypto exchange!

And it seems that features like one-click trading are no biggie, but this is the type of stuff, that once you try it, you won’t be able to trade without it.