Deriv MT5

MT5 was developed as an improved and more advanced version of MT4, offering the following additional features and capabilities for traders:

• ‍Asset classes: MT4 predominantly focuses on forex pairs and a limited selection of other CFDs. In contrast, MT5 broadens its scope by including forex, stocks, indices, bonds, cryptocurrencies, and commodities.
• ‍Position hedging: MT4 permits only one position per symbol, whereas MT5 supports multiple positions on the same symbol and simultaneous Buy and Sell positions for hedging.
• ‍Timeframes: MT4 offers nine timeframes for chart analysis, ranging from one minute to one month. MT5 provides 21 timeframes, affording greater flexibility in analysing price data, especially beneficial for technical analysis.
• ‍Technical indicators: MT4 comes with 30 built-in technical indicators for chart analysis. In comparison, MT5 offers a wider selection of 38 built-in technical indicators and 44 graphical tools.
• ‍Depth of market (DOM) data: MT4 lacks Depth of Market data, while MT5 incorporates this feature, allowing traders to view bid and ask prices at various levels in the order book.

Spreads are zero most of the time on selected financial assets, but may revert to raw spreads during periods of low market liquidity. This does not apply to Synthetic Indices.

You can use helpful tools like like tick charts, economic calendars, trading calculators, and one-click trading.

The Market Watch window in MT5 shows real-time quotes for all available instruments. You can use it to open trades, view contract specifications, set alerts, and customise the list of symbols you see.

Deriv MT5 supports several order types, including market orders for immediate execution and pending orders to buy or sell at preset levels. You can also use stop loss and take profit to manage risk.

To connect an Expert Advisor (EA) to MetaTrader 5 (MT5):

1. ‍Install or import the EA file: Obtain the EA file (e.g., .ex4 or .mq4) and import it into your MT5 platform.
2. ‍Access the "Navigator" window: Open the "Navigator" window, usually found on the left side of MT5, click on View and then Navigator (Ctrl +N).
3. ‍Add the EA to the "Expert Advisors" section: In the "Navigator," drag and drop the EA onto your desired chart or double-click it.
4. ‍Customise EA settings: Fine-tune EA parameters, like lot size and risk management, in the EA settings window.
5. ‍Enable "AutoTrading" for live trading: Activate the EA for live trading by ensuring the "AutoTrading" button is turned on (usually on the platform's toolbar).
6. ‍Monitor EA performance: Keep an eye on charts, trade execution, and check the "Experts" and "Journal" tabs for updates and error messages.