How to Trade Share CFDs on MT5
Stock trading, or share trading, is best done on a well-optimized platform such as the MT5. Although trading CFDs on shares itself may prove to be hard to get used to, not using the correct platform for your trading needs can sometimes backfire and lead to considerable loss. The MetaTrader 4 is famous for its versatility and comes out at the top of many lists. Its successor, the MT5, expands on the technical capabilities of MT4 and is built to cater for all kinds of financial instruments and to accommodate even more traders.
Why trade CFDs on MT5?
There is a reason MT5 is an award-winning platform. First of all, it is accessible for everyone from anywhere – be it from a desktop or mobile device, or even a browser, MT5 is there. Moreover, features such as multi-account usage save time on switching between accounts and managing them on a daily basis. Similarly, instruments and categories can be navigated with ease in accordance with the market volatility at the time due to the integrated functions. An abundance of tools and indicators for analytical and technical analysis are at your disposal in just a few clicks or taps. This includes 80 analytical indicators and 100 charts with 21 time frames. Not only that, but there are also a total of 7 new indicators that improve accuracy and allow you to stay consistent, within which 5 are trend indicators never seen before.
Looking at MT5 as a source for news and being up to date, there are two features that stand out. One of them allows the in-app reading of all kinds of financial news and the adding of favorite news to your list. The other one is an economic calendar so you can be on top of the latest happenings in the financial world. Atop all this is the biggest hurdle that an app has to face and that is ease of use. MT5 is made in a way that downloading, installing, and setting up is a breeze. Latest quotes, charts, financial instruments, and more – all of it is there and highlighted accordingly, without having to look for what you need in hidden menus.
Trading share CFDs on MT5
Now, when it comes to trading CFDs on shares within MetaTrader 5, there are a few things to remember. Going long or short on shares CFDs means that you are speculating on the price movement of stock assets using contracts for difference. Put simply, they are contracts between you as a trader and the broker.At the very start, you have to choose a broker, open an account and set it up. Eightcap offers tight spreads and excellent support for learning how to navigate the shares market. After completing these steps, you will be able to log in to MT5 and start trading CFDs:
- Open the Market Watch window and navigate to the View menu, selecting the Symbols menu (or simply use the keyboard combination Ctrl+U). From the list of shares, pick the ones that you wish to trade and click on Show.
- In case you have not determined an account capital, now it is time to do that and to deposit funds to start trading.
- Begin building your trading strategy, familiarize yourself with factors that can impact share CFDs price movement.
- Understand how to place orders on MT5 and begin practising on a demo account before going onto a live account.
Picking the share CFDs that you wish to trade is one thing, but preparing yourself for trading and testing out your strategy is in a completely different category. With Eightcap, you can find many learning materials that can help you gather knowledge and build your confidence to enter the financial markets. You can open a demo account for free or go for a live account and have it created in just a few minutes. As an award-winning and multi-regulated broker, Eightcap is there to support you in learning the ins and outs of MT5 that could allow you trade share CFDs at ease.
Trading on margin is high risk.