Basically, a trader’s job is to regularly monitor the market conditions and to know about any changes, because these factors are of critical importance for his earnings. However, it is not always possible to sit in front of a computer all days through, therefore mobile platforms are of great help: they allow trading from anywhere and at any time, to have access to the quotations and to the operational history. MetaTrader5 mobile platform has almost no differences from the MT5 PC version.
Using MT5 mobile platform you can set stop losses, sell and buy, change positions, analyze the market and do anything else you do on your desktop. There are MetaTrader5 mobile versions for iPad, iPhone and other mobile devices, it is suitable for novice traders as well as for forex experts. Applications for Android and other systems pave the way for effective trading away from home or out of the office.
Advantages of MetaTrader5 Mobile Platform
- There are interactive graphs, and you can shift in the interval from minute to day period. Thus the analytical assortment is diversified, and mobile trading is quite demonstrative.
- Technical analysis with MT5 mobile is performed with about thirty best indicators. The maximum quantity of the open windows with indicators is 10. Moreover, the indicator is laid over the main chart and is displayed in the other windows.
- MT5 is one of the best platforms featuring sound notifications.
- The platform is free and is provided by many brokers.
Disadvantages of Mobile MT5
- Loss of connection is possible if you are outside the coverage area or have descended into the subway. Try not to open deals when you are in a subway or elevator, because thus you may face loss of connection, and, hence, loss of your money.
- Just like any other terminal, MT5 has been designed according to the standards of a PC platform; with this, there are no problems with functionality, but capacity is not exactly the same. MT5 has been duly optimized, but certain differences with PC version still remain, and PC operations are processed much faster. However, as the mobile platform is used not on a regular basis, but on non-recurrent occasions when a trader is away from his stationary workstation, the inconveniences are not too big.
- Among disadvantages are also the Internet connection fees and fewer trading advisors; but these issues are not critical.