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METATRADER5

User interface

The trading platform MetaTrader 5 provides a simple and user friendly interface. All commands can be accessed from the main menu, and the most frequently used ones are available on the toolbar. Quotes are displayed in Market Watch, while from the Navigator you can manage technical analysis and algorithmic trading tools.

The platform interface provides access to all the necessary tools for trading in the financial markets. It includes various menus, toolbars, and service windows.


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1. Main menu


The main menu contains almost all the commands and functions that can be executed in the trading platform. It provides access to operations with charts, analytical tools, platform settings and other features. The main menu consists of the following items: File, View, Inset, Charts, Tools, Window, Help.


2. Toolbars


The platform has three built-in toolbars: Standard, Line Studies and Periodicity. The toolbars contain duplicated commands and functions of the main menu. However, these commands are customizable, so one can collect only mostly used widgets in them.


3. Market watch


The Market Watch window provides access to the price data of financial instruments: prices, statistics and tick charts. Contract specifications and one-click trading features can also be accessed from this window.


4. Chart


The essence of technical analysis is studying price charts of financial instruments using technical indicators and analytical objects. Charts in the platform have a variety of settings, so that traders can customize them and adapt to their personal needs. Every chart can be displayed with 21 timeframes from one minute (M1) to one month (MN1).


5. Navigator


The Navigator allows switching between accounts and provides functions for running trading robots and indicators. It contains a list of applications purchased from the Market and downloaded from the Code Base. From the navigator, users can rent a virtual platform to provide round-the-clock operation of Expert Advisors and trading Signals.


6. Chart switch bar


The chart selection bar provides quick access to open chart windows.


7. Toolbox


Toolbox is a multifunctional window that provides functions for working with trade positions, news, account history, alerts, internal mailbox, program logs and expert journals. Additionally, from the Toolbox you can open and modify various orders and manage trade positions.


8. Status bar


The status bar contains additional details: server connection indication, the name of an active template and profile, as well as command prompts and price data.

The trading platform interface is highly customizable. You can choose to display only the tools that you currently need, using item View.


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For example, you can hide or not Market Watch and Navigator, and show the Depth of Market and Data Window.


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9. Account and Chart Details


The platform header contains information about the current account number, application name, as well as the active chart name and its timeframe.


10. MQL5.community Chat


Chat with you friends and fellow traders on MQL5.community straight from the trading platform. The chat maintains the history of messages, as well as it features the number of unread messages. To start a chat, log in to your MQL5 account directly from the chat window or via the platform settings: 'Tools' -> 'Options' -> 'Community'


11. Search


The trading platform provides the smart high-performance Search system to help you find required information in the MQL5.community — a community of traders and MQL5 developers. The MQL5.community resource contains documentation, trading forum, blogs of traders and analysts, as well as articles about programming and terminal use. The community provides access to the huge Code Base and the store of applications for the platform. Trading operations of professional traders can be copied through the online Signals service.


12. Fast Navigation Bar


This bar provides functions for quick chart operations. It allows moving a chart along the time axis, as well as changing its timeframe or the symbol. Double-click and type the required symbol, timeframe, and date.


13. Depth of Market


The Depth of Market displays information about buy and sell orders for a security at the best prices (closest to the market price). The Depth of Market also includes a tick chart, on which the Time&Sales data of deals is displayed. Deals appear as colored circles. The color shows the direction, the size means the volume of a deal.


14. Data Window


The data window features accurate price information, as well as currently used indicators and Expert Advisors at the selected point of the chart.


Open demo account

Two types of accounts are available in the MT5 platform: demonstration (demo) and real. Demo accounts provide the opportunity to work in a training mode without real money, allowing to test a trading strategy. They feature all the same functionality as the live ones. The difference is that demo accounts can be opened without any investment and, therefore, one cannot expect to profit from them.


Demo Account Opening

Click "Open an Account" in the File menu or in the context menu of the Navigator window.

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The account opening procedure consists of several steps:

Select a server


Select ACB Incorporation Ltd. and click "Next".

Demo account


Enter the details of your existing account or create a new one.

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Personal details


Enter your personal details:

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If you agree with account opening terms and the data protection policy, tick the appropriate box and click "Next". After that, the demo account will be created.

Demo account registration


Once an account is created on the server, details will be shown in the dialog window:

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The upper part of the window contains brief information about the account; the lower part shows its details:

  • Login — the number of the opened account.
  • Password — a password to access the account. This is a master password, which allows trading from this account.

  • Investor — investor password. The password allows connecting to the account to view its state and analyze price dynamics, but it does not allow trading.

Open an account

If you want to open a live account, please, follow the link.

Mobile platform

iOS

Download mobile version of platform Metatrader 5 from AppStore and install application on your phone.

Choose «Login to an existing account».

Start typing “ACB” to find your account – demo or live account. Enter login and password of your chosen account.

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To open a new demo account choose “Open a personal demo account” during the first step and follow the instructions of opening procedure.


Android

Download mobile version of platform Metatrader 5 from Play Market and install application on your phone.
Start typing “ACB” in the Search box to find your account. Click “ACB Incorporation Ltd.”. Enter login and password of your existing demo or live account and select the appropriate Server – ACBIncorporation-Demo or ACBIncorporation-Main. Click “Login”.

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To open a new demo account choose “Open a demo account” during the first step and follow the instructions of opening procedure.


After clicking Finish, the newly created account is automatically connected to the trade server. It also appears in the Accounts section of the Navigator window. If you click Cancel in this window, connection to the trade server is not performed and the account is not added to the Navigator window, though it is already created. You can connect to the server later using the account details.


If you have any problems with registration, please contact ACB technical support team.


Connect to an account

To start working with a trading account, you need to connect to it using a login (account number) and password. Two types of account access are available in the trading platform: master and investor. Logging in using the master password gives full rights for working with the account. Investor authorization allows you to see the account status, analyze prices, and work with your own Expert Advisors, but not trade. The Investor access is a convenient tool for demonstrating the trading process on the account. 


Click "Login to Trade Account" in the File menu or in the Navigator.


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Specify the following data in this window:

  • Login — the number of the account used for connection.
  • Password — the master or investor password for the account.
  • Server — server to connect to. 

Enable the "Save password" option, and the next time you start the platform, the last used account will be automatically connected to the server. Option "Keep personal settings and data at startup" in the platform settings performs the same action.


After specifying all the details, click "OK" to connect.



Forced change of password

Upon authorization, you may be requested to change the master password of the account. Forced password change can be enabled by the trade server administrator. The mechanism of forced change of the master password, when you first connect or on a regular basis, increases safety.


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Enter the new password, and then enter it again to confirm. The password must meet the following requirements:

  • It cannot be shorter than the length required in the password change dialog.

  • Must contain at least two of three types of characters: lower case, upper case and digits.

  • Must not be the same as the previous password.


If the master password is changed forcedly, the investor password of the account is also reset.

A new investor password can be set in the platform settings.


How to make the first trade


On the demo account, you can practice you trading skills without risking real money. Try to make your first trade.

Select a financial instrument in the Market Watch window, open its context menu, and click "New Order."


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To execute a Sell trade, click "Sell by Market". For a Buy trade click "Buy by Market"


Metatrader 5 on MAC OS

Introduction


Apple products have become very popular. MetaQuotes Software Corp. attentively follows the progress of the IT industry and has already released the special mobile applications for iOS-based devices - MetaTrader 4 for iPhone and MetaTrader 5 for iPhone.

There are many topics on MQL5.community forum, where people are seeking a solution for running MetaTrader 5 under the Mac OS operating system. In this article, you will find out how to work in MetaTrader 5 via the Apple's popular operating system.



Wine


Wine is a free software that allows users of the Unix-based systems to run an application developed for the Microsoft Windows systems. Among all the Wine versions there is one for Mac OS.

Note that Wine is not a fully stable application. Thus, some functions in the applications you start under it may work improperly or not work at all.

For the installation on Mac OS we recommend to use the free application PlayOnMac. PlayOnMac is a Wine-based software for easy installation of Windows applications on Mac OS.



PlayOnMac Installation


To install PlayOnMac, open the product's official web site, move to Downloads section and click the link for downloading the latest version.

After downloading the DMG package, launch it from Downloads section of your system:


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PlayOnMac first launch window will appear. After clicking "Next", the installer will start checking and installing the various components necessary for work.

The first necessary component is XQuartz. This is a software for using X Window System on Mac OS. X Window System provides standard tools and protocols for building the graphical user interface in Unix-like OS.

If you have already installed XQuartz or want to install it later, select «Don't install XQuartz for the momen» or «I've downloaded file by myself», respectively.

XQuartz installation is performed in several stages. First of all, you should read the important information (Read Me) and accept the license conditions.



Before the installation, Mac OS security system will ask you to enter your account's password:


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Wait for the installation to complete. For changes to take effect, you should restart your PC.

After restarting the system, launch PlayOnMac again from the setup file in Downloads folder. The first launch window will appear again. This time, the installer will offer to install MS Windows fonts necessary for correct operation.

Accept the license agreement conditions and wait till the installation is complete. After that, PlayOnMac is ready for use. Its main window will appear:


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Updating Wine


Wine v. 1.4 is installed together with PlayOnMac. Wine 1.4.1 is the latest stable version at the moment. Wine 1.5.21 beta release containing many improvements is also available for download. However, it may be less stable. It is recommended to install the latest version of Wine.

To upgrade Wine to the latest version, open PlayOnMac upper menu and select Manage Wine Versions:


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The window with Wine versions available for installation will open. Select the latest version (1.5.21 at the moment).


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Move the latest Wine version to the right side of the window. The installation will start.

After the installation is complete, the new version of Wine will appear in the left part of PlayOnMac Wine versions manager window. You can then close the window and install MetaTrader 5 trading terminal.



MetaTrader 5 Installation


To install MetaTrader 5, download the distribution package from www.metatrader5.com official web site. Move to Download section and click "Download free".

After the download is complete, launch the setup file. PlayOnMac will be used automatically to open it.


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The standard terminal installation process with all its stages will start:


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When the installation is complete, PlayOnMac will offer you to create the shortcuts for MetaTrader 5 terminal components – the client terminal itself, MetaEditor and MetaTrader 5 Strategy Tester Agent:


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After creating the necessary shortcuts, you can start using MetaTrader 5. Double click on it in PlayOnMac window to launch the terminal.

Below you can see MetaTrader 5 terminal on Mac OS:


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Known Issues


As was already mentioned above, Wine is not a completely stable software. Thus, some functions of the MetaTrader 5 terminal may work improperly. Currently the following issues are discovered:

  • MQL5 Market is unavailable

Except for the above problem, you can enjoy all the features of MetaTrader 5 on Mac OS.



MetaTrader 5 Data Directory


PlayOnMac creates a separate virtual logical drive with necessary environment for each installed program. The default path of the installed terminal's data folder is as follows:
Library\PlayOnMac\WinePrefix\MetaTrader_5_\Drive C\Program Files\MetaTrader 5



Conclusion


In this article we described a fast and easy way to run MetaTrader 5 on Mac OS. Despite the absence of a special version of the terminal for the operating system, you still can efficiently work with the trading platform. We hope that this article, or, to be more precise – the comments to it, will become a good place for accumulating useful information about running Meta Trader 5 under this operating system.

Terms

Lot

Standard transaction amount

Quote

Exchange rate of one currency for another established by the Company to the moment. The quote consists of purchase and sale rates

ASK

The price at which a trader is willing to buy the trading instrument: share, bond, futures, currency, etc.

BID

The price at which a trader is willing to sell the trading instrument: share, bond, futures, currency, etc

SPREAD

A difference between buy and sale price expressed in points.

POINT, PIP

A minimum change in currency rate. For the majority of currency pairs (EURUSD, GBPUSD, USDCHF) one point equals 0.0001, for USDJPY — 0.01.

Order (Pending order)

The conditional order of the Client to make a Trading (Investment) Operation under the conditions determined by the Client in the Trading Terminal with the implication that such an order will be executed in accordance with the order execution procedure.

CHART

A graphic representation of a trading instrument price over the past trading period and current price. On Forex usually use a japan candlesticks chart view.

TREND

A steady trend (direction) in price movement. They distinguish an up and down trend — growth and fall of an asset price respectively.

Transaction (Trading operation)

An agreement between the Client and the Company on the purchase / sale of currencies at an agreed exchange rate calculated for an agreed settlement date.

Quotation

Flow is a sequence of quotations (prices) from financial markets, separately for each trading instrument at the current moment. The quotation consists of the purchase rate and the selling rate.

GAP

A significant price spread between the closing price of the previous timeframe (time interval) and the open price of the next timeframe. Visually, on the chart, you will see a breach between figures/chart lines. Usually occurs  between fridays closing time and mondays opening time of trades.

HEDGE

Open positions on different markets / instruments for minimalize risk of capital loss.

FLAT

Little movement of a price value in some period of time. On charts flat looks like horozontal line.

LONG

Termin used when open a buy position on Forex market.

SHORT

Termin used when trader open sell position.

Trading platform

Is provided by the Company as part of the Investment Service software (Trading Terminal), designed to remotely manage the Client's account, enter into transactions and obtain information on the current state of international financial markets.

Margin trading

Trading of currencies without actual delivery using collateral to cover potential losses. At the same time, the amount of the concluded deals can significantly exceed the amount of the deposit.

Instrument

Is a currency pair or other financial asset available for trading.

Margin Requirements

The amount that must be on the Trading Account to open a Position.

Margin level

The current margin level is the ratio of the balance on the collateral account to the total open position of the Client at the current moment, expressed as a percentage.

Leverage

The ratio between the volume of the Trade and the amount of the Initial Margin.

Open position

The amount and (or) amount of the purchased (or sold) Instrument not covered by the opposite sale (purchase) of the same Instrument in the same amount and (or) volume; the result of the execution of the first part of the Complete Transaction (Trade or Investment Operation on Opening a Position). Having opened the Position, the Client is liable to: a) perform the opposite Trading (Investment) Operation on the Closing of the Position of the same volume; b) maintain the Margin Level not less than the amount set by the Company.

Total open position

The total open position is the sum of all open positions of the Client, expressed in the deposit currency.

Closed position

Is the result of the execution of the second part of the Complete Transaction (Trade or Investment Operation on Closing a Position).

Balance

The balance of the collateral account is expressed in the deposit currency, the current balance of funds on the Client's account, which would have been obtained after closing all positions and converting all balances into US dollars at current rates.

INDICATOR

A common name of a mathematical tool in a technical analysis. Indicators are needed to analyze a chart and forecast future price movement.

LIQUIDITY

Option to easily sell or buy a financial asset at market price. High liquidity means high trade activity and volume.

RATE

Price of a certain currency expressed in another currency.

Available funds

Part of the balance on the collateral account, not exploited to maintain the open positions of the Client.

Stop Limit, Stop Loss, Take Profit Orders

The Client's orders to make deals, subject to the achievement of a certain level of the course. Stop Loss order allows you to close the deal, limiting possible losses. Take Profit order allows you to close a deal with a pre-planned level of profit. Stop and Limit orders allow you to open a new position, subject to reaching a certain level of the course.

Stop Out

An order to forcibly close the positions of all or part of the open positions of the Client at the nearest market quotation generated by the server.

Round Trip

A set of two opposite Trading (Investment) Transactions with the same volume (Open Positions and Closed Positions): purchases with subsequent sale or sales with subsequent purchases in relation to the Position (Investments) with the same ID.

ID (Ticket)

A unique identification number, which the Company is entitled to assign in the Trading (Investment) Terminal to each opening position (Investment) or to a pending Client Order.

Working day

Day of operation of commercial banks in the country of origin of payment.

VOLATILITY

The variability of the exchange rate within a certain period of time.

LOCK

Opposite positions opened at the share dealing account  (buy or sell) for a single financial instrument of a certain volume.