The long-expected new trading platform MetaTrader 5 by software developer MetaQuotes Software Corporation was officially released on 1st June 2010. It has a set of impressive advantages both over the previous MetaTrader4 and other trading terminals.

Now there is a single position for total result of each currency pair, which makes trading more convenient. Moreover, abolition of position locking minimizes trader’s expenses for entering and exiting the market. Also the terminal now supports 4 types of order execution: Market, Instant, Request and Exchange. Aside from the market orders Buy and Sell, 6 types of pending orders are supported: Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit and Sell Stop Limit.

Another useful novelty is that quotation history in MetaTrader 5 terminal is stored in the minute timeframe (M1) only, and all charts are constructed on its basis. Such a concept allowed increasing the number of timeframes up to 21, so any period is available for quotation analysis: from minute to month timeframe. The way of historical data storage in MetaTrader 5 terminal is also highly economical.

Another important advantage of the new platform is the implementation of new development environment – object oriented programming language MQL5. It includes MetaEditor 5, MetaTrader 5 Strategy Tester, MetaQuotes Language 5 (MQL5) and client terminal MetaTrader 5 where expert advisors are executed. MQL5 has a very high speed of execution and is very close to C++ language in that parameter. For comparison, new language is 4-20 times faster than MQL4. High speed makes the development of even the most complex expert advisors easier and faster. MetaTrader 5 Strategy Tester is the most powerful instrument for any expert advisors developer. With it you can acquire expert advisor work results based on history before using it in real trading. Detailed reports on trading system allow traders to test expert advisors, detect their weaknesses, and compare them with other similar products.

Added by Tatyana Makhina,
InstaForex Clients’ relationship manager