MetaTrader 5 From Download to Your First Trade

Introduction

Before You Begin#

MetaTrader 5 (MT5) is a trading platform developed by MetaQuotes and offered by hundreds of brokers worldwide. The platform is the same for everyone; what differs is the server you connect to — in other words, the broker.

• The platform is not the broker. It is software that displays prices and transmits your orders. Your money is held by the broker, not by the platform.
• Every screenshot in this guide was taken from the generic version of the platform, on a demo account with virtual funds on the MetaQuotes demo server, and is not tied to any broker. Colors or window layout may differ slightly at your broker, but the functions are identical.
• The platform interface is shown in English, as it is the most widely used. You can change the language from View → Languages.

Chapter 1

Downloading and Installing the Platform#

Where to download it#

Installing on Windows#

1. Run the installer you downloaded, accept the terms, and click Next until the end.
2. On first launch, the platform automatically opens the “Open an Account” window so you can choose a company and open an account (Chapter 2).
3. If it does not appear, open it from the menu: File → Open an Account.

Chapter 2

Opening a Demo Account#

A demo account is free, uses virtual money and live prices, and takes less than a minute to open from inside the platform.

Step 1: Choose the company#

Step 2: Account type#

Step 3: Your details#

Step 4: The account is ready#

Click “Copy the registration information to clipboard”, save the details somewhere safe, then click Finish.

Chapter 3

Logging In to a Live Account#

A live account is usually not opened from inside the platform but on the broker's website. The platform is simply where you log in afterwards.

1. Register with the broker on its official website and complete identity verification (a copy of your ID and proof of address).
2. Choose the account type (standard, or raw spread with commission), the leverage and the account currency in the broker's client area.
3. Deposit funds using a payment method in your own name (see our article “How to Choose a Broker”).
4. Receive your account details: the account number, password and server name, by email or in the client area.
5. Log in from the platform: File → Login to Trade Account, or the third option in the “Open an Account” window, “Connect with an existing trade account” (screenshot in Chapter 2), then select the correct server.

Chapter 4

The Main Screen: A Map of the Platform#

Chapter 5

The Top Menus and the Toolbar#

There are seven menus across the top of the platform: File, View, Insert, Charts, Tools, Window and Help. You will not need everything in them, but you should know where everything is.

The toolbar#

The File menu#

Option	Function
New Chart	A new chart for any symbol.
Open Deleted	Restore a chart you closed.
Profiles	Save your set of charts and their layout, and restore it.
Close (Ctrl+F4)	Close the current chart.
Save (Ctrl+S)	Save the chart's price data to a file.
Save as Picture	Save an image of the chart.
Open Data Folder	The platform's file folder: indicators, programs and templates.
Print …	Print the chart.
Open an Account	Open a demo or real account (Chapter 2).
Deposit / Withdrawal	Deposits and withdrawals, if the broker has linked them to its client area (greyed out here).
Login to Trade Account	Log in to an existing account (Chapter 3).
Login to Web Trader	Open the account in the browser version.
Exit	Close the platform.

The View menu#

Option	Function
Languages	The platform language, including Arabic.
Color Themes	Light or dark appearance.
Toolbars / Status Bar / Charts Bar	Show or hide the bars.
Symbols (Ctrl+U)	All available symbols.
Depth Of Market	Market depth.
Market Watch (Ctrl+M)	The Market Watch window.
Data Window (Ctrl+D)	Candle and indicator values exactly under the mouse cursor: open, high, low and close.
Navigator (Ctrl+N)	The Navigator.
Toolbox (Ctrl+T)	The Toolbox.
Strategy Tester (Ctrl+R)	Test automated programs on historical data.
Reports (Alt+E)	An account performance report with figures and charts.
Fullscreen (F11)	The chart in full screen.

The Insert menu#

• Indicators: grouped by category — Trend (such as moving averages), Oscillators (such as RSI and MACD), Volumes, Bill Williams, and Custom (indicators you have added yourself).
• Objects: the same drawing tools as on the toolbar, and more.
• Experts: automated programs (Expert Advisors).
• Scripts: small programs that run once (for example, to close all positions).

The Charts menu#

Option	Function
Indicator List (Ctrl+I)	The indicators on the chart, to edit or delete them.
Objects	A list of the drawings on the chart, and a way to delete them all at once.
Bar / Candlesticks / Line	Chart type (Alt+1/2/3).
Timeframes	The chart timeframe.
Templates	Save a chart's settings and indicators, and apply them to other charts.
Grid (Ctrl+G)	Show or hide the grid.
Auto Scroll / Chart Shift	Automatic scrolling, and the space on the right of the chart.
Volumes / Tick Volumes	Show volume below the chart.
Trade Levels	Show position and order lines on the chart.
Trade History	Show your past trades on the chart with entry and exit arrows — excellent for reviewing your performance.
Zoom In / Out	Zoom in and out.
Step by Step (F12)	Advance the chart one candle at a time.
Properties (F8)	Colors, and showing the Ask price line.

The Tools menu#

Option	Function
New Order (F9)	A new order.
MetaQuotes Language Editor (F4)	The editor for indicators and programs.
Task Manager (F2)	The platform's use of your computer's resources.
Global Variables (F3)	Variables used by automated programs.
MQL5 Market / Signals / Virtual Hosting	The store for indicators and programs, the signal-copying service, and hosting.
Options (Ctrl+O)	All platform settings: server, trading, charts and notifications (Chapter 13).

The Signals service automatically copies another trader's trades into your account. Do not subscribe to any signal before you fully understand its track record and risks.

The Window and Help menus#

• Tile Windows (Alt+R): arrange all charts side by side.
• Cascade / Tile Horizontally / Vertically: other arrangements.
• Reset to Default: restore the default window layout if things get mixed up.
• At the bottom of the menu: a list of open charts to switch between them.

• Help Topics (F1): the complete official platform manual.
• Video Guides: official tutorial videos.
• MQL5 …: links to the MQL5 community: documentation, articles, code base and forum.
• MetaTrader 5 Mobile / For Mac / For Linux: download links for the other versions.
• Check For Updates: update the platform.
• About: the platform's version number.

Chapter 6

Market Watch and Adding Symbols#

For each symbol, the Market Watch window shows the Bid (the price at which you sell), the Ask (the price at which you buy) and the Daily Change (the change since the start of the day). The difference between the Ask and the Bid is the spread.

The key menu items

• New Order: the New Order window.
• Chart Window: open a chart of the symbol.
• Depth Of Market: market depth (if your broker provides it).
• Specification: the contract specification (Chapter 7).
• Symbols (Ctrl+U): all available symbols.
• Show All / Hide All: show or hide all symbols.

Adding a symbol (for example, gold)#

1. The quick way: at the bottom of the Market Watch list there is a “+ click to add” row. Click it, type XAUUSD and press Enter.
2. The full way: Ctrl+U → type the symbol name in the search box → select it → Show Symbol → OK.

Symbol names vary slightly between brokers: XAUUSD, GOLD, XAUUSD.m or XAUUSD+. Extra characters usually indicate a different account type.

Chapter 7

The Contract Specification: The Most Important Window#

Right-click the symbol → Specification. This window contains everything that determines the value of each price move, your costs and your margin. Read it before your first trade on any symbol.

The middle part of the window (between the two screenshots) shows the long and short swap values (Swap long / Swap short) and how they are calculated — scroll the window to read them.

Chapter 8

Charts, Timeframes and Indicators#

Opening and setting up a chart#

• Open a chart: right-click the symbol in Market Watch → Chart Window, or drag the symbol into the chart area.
• Maximize the chart: double-click its title bar, or use the maximize button.
• Timeframe: use the M1 to MN buttons on the top bar.
• Chart type: bars (Alt+1), candlesticks (Alt+2), line (Alt+3).
• Zoom: the + and − buttons, or the mouse wheel.
• Show the Ask line: F8 → Show tab → Show Ask line. This matters because the chart plots the Bid price only.

Adding an indicator#

Insert → Indicators → Trend → Moving Average. The settings window opens:

• Period: the number of candles used in the calculation (for example, 200).
• Method: Simple, or Exponential (which gives more weight to the most recent candles).
• Apply to: the price used (usually the close).
• Style: line color and thickness.

To remove an indicator: right-click the chart → Indicators List (Ctrl+I) → select it → Delete.

Drawing tools#

On the top bar: horizontal line, vertical line, trendline, channel, Fibonacci and text. Select the tool, then click on the chart. To delete a drawing, double-click it and press Delete.

Chapter 9

The Eight Order Types#

The order window (F9 or New Order) has four tabs on the left. Each tab is an order type, and each type has a buy version and a sell version — eight orders in all. The platform decides between “buy” and “sell” automatically, depending on where the price you enter sits relative to the current price.

The complete table#

1. Market Execution#

2. Limit Order#

• Price: the price at which the order executes.
• Expiration: how long the pending order remains valid: GTC (until you cancel it), Today (until the end of the day), Specified (until a date and time you set), Specified day (until the end of a day you set).

3. Stop Order#

4. Stop Limit Order#

In plain terms: “If the price reaches 4180, place a buy limit order at 4177.” You wait for the breakout as confirmation, then enter on a small pullback instead of buying at the top of the surge. The risk: if the price takes off after the breakout without pulling back to 4177, you will not be filled.

Orders attached to every position#

Chapter 10

Opening a Trade and Reading Your Account#

In the market order window: volume 0.01, stop loss 4165, take profit 4195, then Buy by Market. A confirmation message appears:

Reading the account line — with the actual figures from the screenshot#

The floating loss of −$1.65 at the moment of the screenshot comes from the spread and price movement: the buy was filled at the Ask, and a buy position closes at the lower Bid.

Chapter 11

Modifying and Closing a Trade#

Double-clicking the position row opens the Position window:

Modifying the stop loss and take profit#

• A faster way: drag the stop-loss or take-profit line on the main chart with the mouse, or click the × next to their values in the position row to remove them.
• The message at the bottom of the window — “Stops processing is performed on the broker side” — means your stop loss and take profit are executed by the broker's server even if you close the platform (unlike the trailing stop).

Closing#

• Full close: the yellow “Close #… by Market” button, or the × at the end of the position row.
• Partial close: change the volume in the Position window before clicking the close button (for example, close 0.01 of 0.03) — this is how you take a third of the position off at each target.
• Close By (with an opposite position): on Hedging accounts, you close a buy position against a sell position on the same symbol, saving one spread.

Chapter 12

History and the Journal#

History#

• Right-click the history → choose the period (today, this week, this month, or a custom period).
• Right-click → Report: a full performance report you can save. It shows the requested and executed prices of stop-loss, take-profit and pending orders — useful for measuring slippage.

The Journal#

A log of everything the platform does: connecting to the server, every order sent and its result, and every error. When an order is rejected or something unexpected happens, this is where you will find the reason (see the screenshot in Chapter 8). The Experts tab is the equivalent log for automated programs.

Chapter 13

Useful Shortcuts and Settings#

One Click Trading#

The SELL / BUY panel on the chart executes a trade instantly, with no confirmation window, no stop loss and no take profit. It is fast, but it is the most common source of accidental trades. We recommend keeping it switched off until you have mastered the platform: right-click the chart → One Click Trading, or go to Tools → Options → Trade.

Settings worth adjusting#

• Tools → Options → Trade: the default order volume (set it to 0.01).
• Tools → Options → Charts: show trade levels (position and order lines on the chart).
• View → Languages: the platform language, including Arabic.
• Templates: once a chart is set up with your indicators, right-click → Templates → Save Template, so you can apply it to any chart with one click.

Chapter 14

MetaTrader 5 on Your Phone#

The same app runs on iPhone and Android, with five main sections in the bottom bar (names may vary slightly between versions).

Logging in from your phone#

1. Settings → New Account → search for your broker's name.
2. Choose “Login to an existing account”, select the correct server, and enter your account number and password.
3. Or scan the QR code shown when the account is opened on your computer (screenshot in Chapter 2).

Chapter 15

Common Error Messages#

Chapter 16

Checklist Before Your First Live Trade#

© 2026 Consultya · info@consultya.co · This guide is educational and is not investment advice.