How to Download and Configure MT5 on iOS
MetaTrader 5 is the latest addition to MetaTrader that allows you to trade forex, stocks, shares, indices, and much more. It is a famous alternative to its predecessor, MT4, that shares most of the functionalities and tools used for technical and fundamental market analysis, copy trading, and even automated trading. There are many features that come with having MT5 on your mobile device.
MT5 on mobile
For starters, you can trade currency pairs you’d like without having to take out a full-sized laptop with you. The system that comes with Market Depth and other types of trade execution is the same as when using the desktop application. You can also utilize netting and hedging position accounting systems, as well as all the kinds of trade orders, such as pending and stop-orders. For any additional information, there is also a built-in chat, in addition to the financial news and alerts that you can set to notify you via push notifications so you don’t miss anything. On iPad, you can also enjoy the extended version of the platform, which is a more visually accommodating version meant for larger screens.
Downloading MT5 for iOS
Before going to the official MetaTrader website or the App Store to download MT5, it’s advisable to use the version provided to you by the broker. This way, all the benefits that come when you have an account can be loaded successfully. For Eightcap clients, there is a dedicated MT5 page that has the option to download the installation files for their specific device from the relevant store.
To get access to the markets on iPad and iPhone, once you have downloaded the dedicated MT5 app, you only have to wait until it is automatically installed on your device. It should take no longer than a couple of seconds but if you are having issues due to lack of available memory, you may wish to do a bit of clean-up first.
Configuring MT5 on iOS
After the installation, once you open the app, you will see the main screen of MetaTrader 5. There, you have to choose to either log in to an existing account that you have received from your broker, or create a new one. For the latter, you would need to check your credentials via the confirmation email you should have received. Make sure to verify your spam and junk folders, in case the message is filtered there as well.
Upon logging in, you will have to enter your credentials and choose the appropriate server, as in the instructions in your welcoming email. Choose to save your password if you want to stay logged in. Once you’re at the Quotes tab, you can tap on the bar at the top and choose one of the groups before picking a financial tool. After adding what you want to trade, if there is anything you wish to remove, simply press the pencil icon on the top left-hand side of the Quotes tab, select the entries that you wish to remove and tap the trashcan icon.
When you want to use charts to trade or monitor a financial instrument, you select this tab. Tapping anywhere on it will allow you to either set up a trade, add indicators or objects, or configure additional settings to customize the chart to your liking. At the top right-hand side of the tab, you can tap the icon and enable one-click trading.
This is where you will find your balance, equity and free margin. Any open trade is also visible here. Use this tab to check whether you have enough funds in order to proceed following your current trading strategy.
All closed trades, transactions indicating deposits and withdrawals can be viewed here. You can also switch between Positions, Orders, and Deals if you want to see what kind of trades you have taken until now. At the top right-hand side of the tab, there is a clock icon that enables changing the time period of account history.
A full view of all the settings of your MT5 account can be found here.
- Mailbox is the place to go to for the latest news from MT5, your broker, and news in general that may concern you.
- However, if you want to read the full stories, in the dedicated News tab, you can go through all the latest economic news and even save as favorites via the star icon at the bottom.
- The Chat and Messages tab requires an MQL5 registration so that you can communicate with members of the community.
- OTP is the setting used for additional protection so you can protect your phone from unauthorized access.
- Interface allows you to change the language in which the app is displayed.
- Charts is the same option that opens when you choose Settings from the charts tab after clicking anywhere on the chart – it gives you options for setting up chart preferences.
- Journal is a list of technical events on the MT5 app and is mostly used for troubleshooting. The date-by-date activity log means that you can share any issues you encountered on specific days, using the top-right icon to send the data to an address of choice.
- Settings is the build information of your current MT5 app, also helpful for troubleshooting.
Eightcap as your trading broker
Trading with Eightcap, you gain access to 250+ financial instruments, 21 chart timeframes, 38 technical indicators, and you can use the dedicated browser version of the MT5. Join today and enjoy extremely tight spreads, coupled with excellent support for all the questions you have along the way.
Trading on margin is high risk.