Can you Trade Bitcoins on MT5?

Despite the huge dip caused by a few passive-aggressive comments from Elon Musk on the state of cryptocurrency, buying crypto is certainly still a wise move. But in order to make the right decisions, you need the right platform. MT5 might be the one you need.

1. What’s MetaTrader 5?

Whether you are on iOS, Android, or PC, stocks and Forex traders often choose MetaTrader as their go-to application for investing in the stock market. Don’t take our word for it, MT5 has been claimed to be the best day trading platform and actually won 2 awards not that long ago; the first one for “Best FX trading platform” and the second for “Best multi-asset trading platform”.

2. What’s better for crypto between MT4 and MT5?

While MT5 was designed with an easier workflow for different types of CFDs in mind, MT4 was primarily developed for trading Forex. The programming language for both applications is completely different, MT4 was simply from another era, so it is quite understandable.

Moreover, the differences between MT4 vs MT5 don’t stop there. Backtesting on MT5 is much faster than on its older counterpart, and you can also use MT5’s Depth of Market function (DOM) to measure the supply and demand of a certain stock.

3. What are the latest features on MT5?

Aside from the obvious addition of cryptocurrencies in its development pipeline, there are also many other reasons why you should jump in with MT5. Indeed, its built-in market analysis tools are very precise and coupled with many automated features. Furthermore, being able to use scalping and hedging for swing traders is another big MT5 advantage.

4. A step-by-step guide to trading crypto with MetaTrader 5

If it’s your first time with the software or if you’re just in need of a refresher, here’s how to trade cryptocurrencies on MT5:

1. Create an MT5 account with any broker.
2. Log in to your MT5 account.
3. Once the main dashboard is in front of you, right-click on the Market Watch window and choose the ‘Symbols’ tab.
4. On the Symbols menu, choose ‘Crypto’. From here, you can click any cryptocurrency symbol that you like, then click ‘Show’ to see them in the Market Watch window.
5. Now you are ready to trade cryptocurrency in MT5.

To conclude, MT5 is definitely one of the top trading software on the market, and with all its latest features, buying/selling crypto coins such as ETH, BTC, or LTC is a breeze.

The post Can you Trade Bitcoins on MT5? appeared first on Entrepreneurship Life.

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By: Carson Derrow
Title: Can you Trade Bitcoins on MT5?
Sourced From: feedproxy.google.com/~r/entrepreneurshiplife/feed/~3/7Vq-Da-UHb0/
Published Date: Wed, 09 Jun 2021 05:31:13 +0000