MetaTrader 5
Multi-asset trading terminal from MetaQuotes, offered through forex and CFD brokers
About MetaTrader 5
MetaTrader 5 is the successor to MetaTrader 4, a desktop and mobile terminal with charting, an order book view, a strategy tester and MQL5 for automated trading. It is not sold directly: you get it through a broker, so available markets depend on who you sign up with. It supports more timeframes, indicators and asset types than MT4 but has a smaller ecosystem of legacy expert advisors.
Pros
- Free with most forex and CFD brokers
- Built-in strategy tester and MQL5 language
- Native web, mobile and desktop apps
Cons
- Quality depends on your broker's data and execution
- Dated interface compared with modern web charts
- Not compatible with MT4 expert advisors
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