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METATRADER 5 PLATFORM:

How does MetaTrader 5 work in Windows?

Baxia Help Center >
MetaTrader 5 Platform

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Here’s a useful guide on how to install, set up, login and get trading with the MT5 trading terminal.

Select an option below to learn more:

• Installation
• Logging in
• Switching Between Trading Accounts
• Start Trading

Installation

Get MT5 for Windows Here

To install MetaTrader 5 (MT5) for Windows, follow these steps below:

  1. First, download the MT5 installation file.
  2. Then, run the file from your browser or double-click the installation file from where it downloaded.
  3. You can modify where you want to install MT5 by clicking ‘Settings’ for your preferences, or simply click ‘Next’ to agree to the End-User License Agreement and continue.
  4. When the installation has completed, click ‘Finish’ and it will open MT5 automatically in your view.
  5. For your first log in: close the window titled “Open an account” by clicking ‘Cancel’. See the instructions below for “Logging in” to log in with your Baxia trading account.

Logging in

  1. First, click ‘File’ > ‘Login to Trade Account’.
  2. Next, enter your trading account’s Login, Password, and Server then click Login.
    1. This information is in your Secure Client Area. Under ‘My Accounts’, then ‘Accounts Overview’. You should see your account(s) listed, click on the ‘View’ button on the trading account you wish, here you will see the MT5 Login and Server. Your Password is located in the email when you created the account (check for the subject line ‘Your trading account has been created’), however, you can choose to change it here if needed. 
  3. If successful, you will hear a confirmation chime. This means you have now logged into MT5 with your trading account.

You can read a complete guide with screenshots on how to login with MT5 platform here in our Help Center. 

Switch Between Trading Accounts

To switch between different MT5 trading accounts, follow these steps below:

  1. While you are logged into your trading account, click ‘File’ > ‘Login to Trade Account’.
  2. Sign in with your other trading account’s number, password and corresponding server; then click ‘OK’. You can make switching quicker for next time by ticking ‘Save password’.

Quick Switching

You can switch between active trading accounts by going to ‘File’ > ‘Login to Trade Account’ – use the drop down menu in the Login entry to choose any previously logged in trading accounts.

Start Trading

To open a new order in the platform, you have four options:

  1. You can click ‘New Order‘ in the toolbar.
  2. Press ‘F9’ on your keyboard.
  3. In the Market Watch window, right-click on the trading instrument you want to trade and click ‘New Order‘.
  4. Double-click the trading instrument in the Market Watch window.

To learn more about all orders types you can use in the MT5 platform, please visit our Help Center here.

Market Orders Instructions:

To place:

  1. You can open a New Order, by double-clicking the instrument in the Market Watch window.
  2. Next, select your preferred symbol and volume, as well as the optional Stop Loss and Take Profit levels. If you want to check the execution type you can find it under Type. 
  3. Click ‘Sell by Market‘ or ‘Buy by Market‘ to place the order.

To close:

  1. Double-click on the order you want to close in the Trade tab of the Toolbox section that runs along the bottom of the terminal.
  2. Next, click the yellow ‘Close by Market‘ button.
  3. As an alternative, you can also right-click on your order and choose ‘Close Order‘; if One-Click-Trading has never been activated, you will be prompted to enable it; this method will then work when you try it again. Another simple way would be to simply click the ‘x’ beside your order in the Trade tab.

Pending Orders Instructions:

There are 6 pending order types to choose from in MT5 (Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit). To close a position you can use Stop Loss and Take Profit.

To learn more about pending orders types, please visit our Help Center here.

To place:

  1. You can open a New Order, by double-clicking the instrument in the Market Watch window.
  2. Select your preferred symbol and volume, then specify your Pending Order Type. Optionally, you may set your desired Stop Loss and Take Profit levels. 
  3. Then, click ‘Place’ to set up your pending order.

Please note, if you select an expiry date that falls during a weekend, your order will expire before the market closes at the end of the current week.

To modify/delete a pending order:

  1. Right-click on the pending order in the Trade tab and click Modify or Delete.
  2. If you want to modify, the fields available for modification are Price, Stop Loss, Take Profit and Expiration date. Once done, click Modify.
  3. If you want to delete your pending order, simply click on the Delete option.
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