Phillip Futures launches the MetaTrader 5
It is essential to have access to a robust and versatile platform if you are to enjoy any degree of success in trading in the financial markets. To help its customers succeed in their investment goals, Phillip Futures has moved ahead of the curve and launched the MetaTrader 5 trading platform on July 7.
So what is MT5 about? What are the advantages that MT5 has over its predecessor MetaTrader 4?
Want to learn more about the MT5 platform? Sign up for Phillip Futures’ Forex Trading: The Basics and Introduction to the MT5 platform seminar now.
MetaTrader 5 – developed to improve your trading strategy
Source: Shutterstock
The MetaTrader series is a result of the efforts of the software engineers working at MetaQuotes Software Corp., a leading developer of applications for brokerages, banks and exchanges. MetaTrader 5, their latest offering, incorporates a number of features that provide traders with the ability to access advanced charting and trading tools in a simple and easy to use manner.
One of the key offerings of MT5 –beyond its multi-asset capabilities – is the Expert Advisors (EA) programming that helps investors to analyse price charts and enable automatic trading. In fact, while investors are currently able to utilise EAs for forex trading, they would also be able to utilise them for other asset classes that Phillip Futures plans to introduce at a later date.
Phillip Futures is encouraging traders to test the new platform by registering for a demo. This facility is available to every investor and it is not necessary to have a trading account with the company if you want to test MT5.
Want to build your own EA? Then register for Phillip Futures’ Create Your 1st Trading Robot with Phillip MetaTrader 5 seminar seminar now.
Here is what I’ve found unique to MT5, compared with the MT4.
Economic calendar
The older MetaTrader version does not offer this feature. MT5 provides an inbuilt Economic Calendar that incorporates news events and direct inputs from dozens of newsletters. This helps in making a better-informed trading decisions.
Various macroeconomic indicators that could influence the market were also available, which helps in making smarter trading decisions and forecasting future price movements more accurately.
Technical indicators
Traders would be very familiar with the use of technical analysis when deciding on a strategy, so the trading platform should offer tools that help you to successfully identify price trends and support and resistance levels in a timely fashion.
While the MT4 platform is highly regarded for its technical analysis software, I appreciated that the MetaTrader 5 was several steps ahead of its forerunner with MT5 providing 38 technical indicators compared to MT4’s 30.
Some of the other key features of MetaTrader 5 are:
The availability of 44 analytical objects
21 timeframes
Ability to download 1-minute and tick history
An unlimited number of charts.
Experience all 38 technical indicators on Phillip Futures’ MetaTrader 5 platform here.
Graphical objects
Source: MetaQuotes Software Corp
Both MT4 and MT5 allow graphical objects to be to be applied to a price or an indicator chart. But the new version has increased the number of objects that are available from 31 to 44.
One of the most useful objects you can insert is the graphical chart, which allows you to track the price dynamics of a number of symbols at the same time, or monitor different time frames for a single symbol.
It is also possible to add text to a chart. This label is bound to the chart and moves with it. Alternately, you can add a “text label.” A “text label” is anchored to a chart window and does not move when the chart is scrolled.
Similarly, you can add Bitmaps and Bitmap labels. There are also a number of other graphical objects that are available for your use.
Need more help? Sign up for Phillip Futures’ seminar “Forex Trading: The Basics and Introduction to the MT5 platform” here.
Other advantages
Here are a number of other benefits that MT5 offers:
MetaTrader 5 | MetaTrader 4 | |
Partial order filling policies | Yes | No |
Order fill policy | Fill or Kill, Immediate or Cancel, Return | Fill or Kill |
Pending order types | 6 | 4 |
Depth of market | Yes | No |
Time and Sales (Exchange data) | Yes | No |
Timeframes | 21 | 9 |
Embedded MQL5.community chat | Yes | No |
Strategy tester | Multi-threaded + Multi-currency + Real ticks | Single thread |
A reliable broker
Phillip Futures was established in 1983 as a member of PhillipCapital Group. One of the founding clearing members of Singapore Exchange Derivatives Trading (SGX-DT) and it holds the Capital Markets Services Licence issued by the Monetary Authority of Singapore (MAS). Phillip Futures has since grown to become one of the region’s top brokerages for the trading of global futures, foreign exchange, energy, metals and commodity futures.
With the launch of MT5, Phillip Futures is offering its clients the opportunity to upgrade the trading platform that they use. The added features and benefits that are available will enable users to enhance their trading experience and provide an opportunity to increase the returns that they can earn.
Improve your trading experience today, and sign up for MT5 with a reliable broker like Phillip Futures now.
(By Ravinder Kapur)
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