If you’re looking to jump into forex and stock trading in India, MetaTrader 5 (MT5) is your perfect starting point. This powerful trading platform offers everything you’ll need to analyse markets, execute trades and manage your portfolio effectively.
Starting your trading journey with MT5 trading platform doesn’t have to be complicated. While the platform might seem overwhelming at first with its numerous features and technical indicators, breaking it down into manageable steps makes the learning process much smoother. We’ll walk you through the essential aspects of MT5 trading platform, from setting up your first account to placing your initial trades in the Indian market.
This guide will cover account setup, platform navigation, basic trading tools and safety measures you’ll need to know. Whether you’re interested in equity, derivatives or currency pairs, you’ll find all the fundamental information to begin your trading adventure with confidence.
What Is MetaTrader 5 (MT5)
MetaTrader 5 (MT5) is a multi-asset trading platform developed by MetaQuotes Software for trading stocks, forex, commodities, futures, and cryptocurrencies. The platform combines advanced charting tools with automated trading capabilities, making it a comprehensive solution for traders in India.
Key Features and Benefits
MT5’s core features enhance trading efficiency across multiple markets:
- Multi-Market Access: Trade forex, stocks, indices, futures, and cryptocurrencies from a single interface
- Advanced Charting: Access 21 timeframes, 38 technical indicators, and 44 analytical objects
- Automated Trading: Create custom trading robots using MQL5 programming language
- Market Depth: View real-time price levels with detailed order book information
- Economic Calendar: Monitor market-moving events with integrated financial news
- Cloud Storage: Sync trading settings, indicators, and strategies across devices
| Feature Category | Specifications |
| Chart Timeframes | 21 periods |
| Technical Indicators | 38 built-in |
| Analytical Objects | 44 tools |
| Maximum Charts | Up to 100 simultaneous |
- Market Coverage: MT5 supports stocks, bonds, and futures trading while MT4 focuses primarily on forex
- Execution Types: MT5 offers 6 types of order execution compared to MT4’s 4 types
- Timeframes: MT5 provides 21 timeframes versus MT4’s 9 options
- Programming Language: MT5 uses MQL5 with object-oriented programming while MT4 uses MQL4
- Technical Analysis: MT5 includes more technical indicators and graphical objects than MT4
| Feature | MT5 | MT4 |
| Order Types | 6 | 4 |
| Timeframes | 21 | 9 |
| Economic Calendar | Yes | No |
| Depth of Market | Full | Limited |
Setting Up Your MT5 Trading Account
Setting up your MT5 trading account involves selecting a regulated broker in India and completing the platform installation process. Here’s a detailed guide to get you started with MT5 trading.
Choosing a Reliable Indian Broker
A regulated Indian broker ensures secure trading operations through MT5. Top criteria for broker selection include:
- Regulatory Compliance: Verify SEBI registration numbers
- Account Types: Standard accounts start at ₹10,000 minimum deposit
- Trading Instruments: Access to NSE equities BSE derivatives currency pairs
- Trading Costs: Compare brokerage fees slippage spreads swap rates
- Customer Support: 24/5 support in regional languages technical assistance
- Server Stability: 99.9% uptime reliable trade execution speeds
- Payment Methods: UPI NEFT RTGS bank transfer options
Popular Indian brokers offering MT5:
| Broker | Min Deposit | Markets Offered |
| Angel One | ₹5,000 | Stocks Forex |
| ICICI Direct | ₹10,000 | Stocks Derivatives |
| Kotak Securities | ₹25,000 | Multi-asset |
- Download MT5:
- Visit broker’s official website
- Select desktop mobile web terminal versions
- Download appropriate file for your device
- Installation Steps:
- Run installation file
- Select language preferences
- Choose installation directory
- Create desktop shortcuts
- Account Registration:
- Complete KYC verification
- Submit identity proof address proof
- Upload income tax returns
- Sign digital account agreement
- Platform Login:
- Enter trading account credentials
- Select trading server
- Enable two-factor authentication
- Save login details securely
Navigating the MT5 Interface
The MT5 trading platform interface organizes essential trading components into distinct windows for efficient market analysis and trade execution. Each window serves specific functions that streamline your trading operations.
Understanding the Market Watch Window
The Market Watch window displays real-time price quotes for your selected trading instruments. Here’s how to maximise its functionality:
- Click the ‘+’ symbol to add new symbols from available markets
- Right-click any instrument to open a new chart or place instant trades
- Sort instruments by name, bid, ask or time using column headers
- Create custom watchlists for different trading sessions or strategies
- Enable tick charts to view price movements in real-time
- Access instrument specifications including spreads, margins and trading hours
Managing Charts and Trading Tools
MT5’s charting interface empowers technical analysis through multiple features:
- Open up to 100 charts simultaneously across 21 timeframes
- Apply 38 built-in technical indicators from the toolbar
- Draw trendlines and Fibonacci tools using the drawing toolbar
- Save custom chart templates with preferred indicators and layouts
- Switch between chart types: bars, candlesticks or line charts
- Use one-click trading directly from chart windows
- Enable depth of market (DOM) for detailed price analysis
- Drag and dock windows to create multi-monitor layouts
- Save workspace profiles for different trading strategies
- Modify colour schemes for charts and interface elements
- Create custom indicator panels and market depth displays
- Set price alerts and notifications for market events
- Configure hotkeys for quick access to common functions
- Adjust chart properties including grid lines and scale settings
Executing Trades on MT5
MT5’s trade execution system enables precise order placement with multiple options for entry timing control. The platform integrates real-time market data with advanced order management tools for efficient trade execution.
Different Order Types
MT5 offers several order types to match specific trading strategies:
Market Orders:
- Buy Market: Executes a purchase at the current market price
- Sell Market: Executes a sale at the current market price
Pending Orders:
- Buy Limit: Places a buy order below the current market price
- Sell Limit: Places a sell order above the current market price
- Buy Stop: Places a buy order above the current market price
- Sell Stop: Places a sell order below the current market price
Advanced Orders:
- Stop Loss: Automatically closes positions at a specified loss level
- Take Profit: Automatically closes positions at a specified profit level
- Trailing Stop: Adjusts stop loss levels based on price movement
To place an order:
- Select the trading instrument from Market Watch
- Click ‘New Order’ or press F9
- Choose the order type from the dropdown menu
- Enter volume size position
- Set price levels price targets
- Click ‘Place’ to execute
Position Management and Monitoring
MT5’s position management tools provide comprehensive trade oversight:
Active Positions Window Features:
- Current profit/loss calculations
- Entry price display
- Position size tracking
- Swap rates information
- Duration monitoring
Management Functions:
- Modify stop loss take profit levels
- Close partial positions
- Add to existing positions
- View detailed trade history
- Real-time equity curves
- Balance level tracking
- Margin level indicators
- Free margin calculations
The ‘Trade’ tab displays:
- Open positions
- Pending orders
- Account history
- Trading journal entries
- Symbol identification
- Order type
- Volume size
- Opening price
- Current price
- Profit/loss amounts
Essential MT5 Tools for Indian Markets
MT5 trading platform offers a comprehensive suite of analytical tools specifically optimized for Indian market conditions. These tools enhance trading decisions through advanced technical analysis capabilities integrated seamlessly into the platform.
Technical Analysis Indicators
MT5 provides 38 built-in technical indicators categorised for precise market analysis:
- Trend Indicators: Moving averages (SMA EMA), MACD, ADX for identifying market direction
- Momentum Oscillators: RSI, Stochastic, CCI for measuring price momentum
- Volume Indicators: OBV, Money Flow Index, A/D Line for tracking trading volume
- Volatility Tools: Bollinger Bands, ATR for measuring price volatility
- Custom Indicators: Support for user-created indicators in MQL5 language
The platform enables simultaneous application of multiple indicators on a single chart with customisable parameters. Each indicator includes real-time calculations based on tick data from Indian exchanges.
Automated Trading Solutions
MT5’s automated trading framework integrates three key components:
- Expert Advisors (EAs):
- Automated trading programs for executing preset strategies
- Back-testing capabilities using historical Indian market data
- Real-time monitoring of multiple trading positions
- Custom Scripts:
- Single-run automation tools for specific trading tasks
- Market analysis functions for quick data processing
- Position management utilities for bulk order handling
- Trading Signals:
- Copy trading services from verified signal providers
- Performance metrics for signal evaluation
- Risk management settings for automated position sizing
The MQL5 IDE enables creation of custom automated solutions with direct access to Indian market data feeds through authenticated APIs.
Risk Management Features in MT5
MT5’s risk management tools protect your trading capital through automated controls and real-time monitoring systems. These features help maintain consistent risk levels across your trading portfolio.
Setting Stop Loss and Take Profit
MT5 offers precise stop loss and take profit settings through multiple placement methods:
- Direct Chart Placement: Click and drag stop loss/take profit levels directly on price charts for visual confirmation
- Order Window Input: Enter exact price levels when placing new trades through the order window
- Modify Existing Orders: Adjust stop loss/take profit levels for open positions via the Trade tab
- Multiple Stop Types:
- Regular stop loss for basic price exits
- Trailing stops that follow price movement
- Guaranteed stops with fixed execution prices
- Break-even stops to protect profits
The platform displays potential losses in your account currency based on stop loss placement. A visual warning appears when stops exceed your predetermined risk parameters.
Using the Built-in Risk Calculator
The MT5 risk calculator determines optimal position sizes based on your risk tolerance:
| Risk Parameter | Calculation Method |
| Account Risk | % of total equity per trade |
| Position Size | Risk amount ÷ stop loss distance |
| Margin Required | Position value × leverage requirement |
| Potential Loss | Stop loss distance × position size |
Key calculator features include:
- Automatic lot size computation based on risk percentage
- Real-time margin requirement updates
- Multiple currency pair calculations
- Custom risk ratio settings
- Position scaling options for partial entries/exits
- Risk-reward ratio visualization
- Maximum position size limits
The calculator integrates with the order placement window for seamless trade execution within risk parameters.