MetaTrader 5 for Android-powered devices is a platform for mobile trading on the Forex and stock markets. The application allows you to connect to a broker's servers, receive prices and view price charts, trade and view the history of your trade operations. This is available from anywhere in the world absolutely free of charge!

Summary:

  • Getting started with MetaTrader 5 for Android
  • Account connection
  • User interface
  • Trade example
  • Trader requests
  • Charts
  • Trade


With MetaTrader 5, you can use real and demo accounts. Moreover, you can open demo accounts right from the mobile platform. Authorize in the application to access all the functions of the MetaTrader 5 platform.

After authorizing, you can receive prices of financial instruments in the real-time mode, view charts with technical indicators, execute trade operations using the full set of trading orders and various execution modes. Thus, you can implement almost any trading strategy. At any time and from anywhere you can access the history of your trade operations in order to determine the profitability of your trading strategy.

The wide opportunities of the MetaTrader 5 trading platform are now always with you. Download MetaTrader 5 and you can keep abreast of events in financial markets and control your trading account!

>> Sign up for a 30$ welcome bonus to test the MetaTrader 5 for Android in the real market (use code WELCOME30 at registration)


Getting started

In order to start trading from your mobile device, download MetaTrader 5 from the application store Google Play or by using the Google Play application on your device.

After installation, run the application by tapping the icon MetaTrader 5 on the screen.

The MetaTrader 5 for Android can be used on a smartphone or a tablet PC powered by Android 4.0 or higher. In addition, to connect to a broker's trading server, Internet access is required.

It is also possible to install the application in older versions of Android (2.1 and above), but some functions will not be available. Support is unavailable for the older application versions.

It is recommended that you update MetaTrader 5 regularly, which will provide enhanced features and greater stability.


Account Connection

A login and password received from AM Broker after opening an account in Traders Room are used for connection to a trading account. Two types of account access are available in MetaTrader 5 for Android: master and investor. Being authorized with the master password, a user can access the entire functionality of the platform. When using investor authentication, a user can view the account state and analyze prices, but has no access to performing trading operation. Investor access is a convenient tool for demonstrating the trading process on the account.
To connect to an account, tap  on the Manage accounts page that opens tap on
Open the side panel

Select a Server

At this stage, you select a server (a brokerage firm), on which your account was opened. Tap on a server line “ambroker” in order to select it.

Login

  • Specify the following connection parameters on this stage:
  • Login – the number of the account used for connection.
  • Password – the master of investor password for the account.
  • Server – the name of the server for connection.


Enable the "Save password" option, and the next time you will be authorized automatically without having to enter the password. If you disable it, every time you will need to type in your password again.

To log in, tap "Login" at the bottom of the window.

Managing passwords

From the MetaTrader 5 mobile platform for Android, a user can change trading account passwords. Go to the "Accounts" section and tap button in the upper right corner of the window or press the "Menu" button on your device, and then tap "Change Password".

All password changes apply to the current account (the account you are currently connected to).

The following data should be specified here:

  • Current master password – specify the current master password for the account;
  • Change master password/Change investor password – select the password you want to change – master or investor.
     

  • New Password – specify the new password for your account;
  • Password confirmation – re-enter the new password to avoid typing errors;

Make sure to enter a complex password, containing no less than 5 characters and at least two of the three types of characters – lowercase letters, uppercase letters and digits.

Tap "Next" to change the password.


Graphical User Interface

The interface of the MetaTrader 5 mobile platform consists of the main working area, the bottom panel and the side panel, which allow switching between the main functions of the program.

  • Quotes – a window with prices of financial instruments.
  • Charts – view price charts.
  • Trade – view the state of account and manage trade positions and pending orders.
  • History – view the history of trade operations.
  • Mailbox – view emails received via the internal mail system.
  • News – view news messages.
  • Economic calendar - keep track of important financial announcements that may affect underlying economies and create price movements.
  • Messages – view messages and push-notifications.
  • Settings – mobile platform settings.
  • Journal – view the logs of MetaTrader 5 for Android.
  • About – view information about the program.
     

Using the "Menu" button, you can go to account or symbols management, or make trade operations, depending on the current tab.

Quotes

Use this tab to view real-time pricing information on financial instruments. To switch to this tab, use the MetaTrader 5 side panel that opens at a tap on 
Open the side panel



 

The following price information is displayed here:

  • the name of the financial instrument
  • the ask price
  • the bid price
  • spread
  • the time of the last quote
  • the lowest ask price for the current day (Low)
  • the highest bid price for the current day (High)

To switch between the full and reduced representation of price information, open the context menu by a long tap on any symbol.
To save traffic, disable unnecessary symbols

List of symbols

In order to remove a symbol from the list or change its position, tap

 Modify  
at the top of the window. To add a new symbol, tap 

Add   

at the top of the window.

To save traffic, disable unnecessary symbols.


Adding Symbols

To add a new symbol, tap

Add
Add


at the top of the window. Select a group of symbols. To quickly find the desired symbol, use the search bar at the top of the page. Press

Search

enter the desired symbol and tap "Enter" on your keyboard. To add a symbol, tap on its line.



An example of a market operation

Below is an example of a market operation: buying 50 lots of EURRUB_TOD.

Sending the Request

Let's specify the volume of 50 lots and click Buy:

 



Executing the Request

The above screenshot shows that only 1 lot at the best price of 75.6820 was available at the moment of execution. Fill or Kill execution mode is used by default when sending market requests from the Depth of Market. It means that the request should be performed in the specified volume. If the specified volume is not available in the market, the request will not be executed.

The necessary volume is available in the market but at a higher price. The requested volume will be reached using the best price offers. You can view the history of order execution in the History tab.

The above screenshot shows that the order was executed by two deals: 1 lot at 75.6820 and 49 lots at 75.6300. When executing market deals you agree in advance to buy/sell a symbol at the current market price in a specified volume. Therefore, one order can be executed by several deals at the best market price. Pending orders should be used to execute trade operations at a specified price.
 


Closing Positions

The Depth of the Market allows you to view open positions by their symbol, as well as close them quickly if necessary. Position status is shown in the upper section of the Depth of Market.

To close a position, tap Close at the bottom part of the Depth of Market. Click on it to close your position without any further confirmation.


Trader Requests

Placing a trader request means creating a pending order to buy/sell a financial instrument at a specified price. 4 types of pending orders: Buy Limit, Sell Limit, Buy Stop and Sell Stop can be placed from the Depth of Market. The conventional way of performing trade operations should be used to place Buy Stop Limit and Sell Stop Limit orders.

Placing an Order

To place a pending order, click on the bid/ask volume cell having a required price:

After you tap on the appropriate field, a request for placing a pending order will be immediately sent to the server. The order will be displayed in the Depth of Market upon successful placement. As soon as there is a market participant ready to sell the financial instrument at the specified price, the order will be filled and will turn into a position.

Transferring Orders to an External Trading System

Pending orders may or may not be transferred to an external trading system depending on broker's symbol settings. For example, a broker may transfer Limit orders directly to an external trading system while other order types (Stop and Stop Limit ones) will be processed in MetaTrader 5:

  • When reaching the stop price specified in a Buy Stop or Sell Stop order, an appropriate market operation is executed.
  • When reaching the stop price specified in a Buy Stop Limit or Sell Stop Limit order, an appropriate limit request is executed, which will be visible to other market participants.


Interface: Current Position

The upper section contains the data on the current open position if there is any.

  • Symbol name
  • Position direction – Buy or Sell
  • Profit/loss

Use the "Close" button at the bottom of the Depth of Market (DOM) to close the current position.
Lots/Amount button allows you to switch quotes volume display mode in the Depth of Market.


Interface: List of Requests

The main part of DOM is occupied by the list of trade requests which are closest to the market. The upper part (colored in red) displays bids, while the lower part (colored in blue) displays asks. List of requests is divided into three columns:

  • Volume – total volume of requests at a specified price;
  • Price – request price;
  • Trading – this column displays the trader's current trade requests and stop levels (Stop Loss and Take Profit). For example:
  • BL 10 – Buy Limit order of 10 lots;
  • SL 5 – Sell Limit order of 5 lots;
  • BS 1 – Buy Stop order of 1 lot;
  • SS 3 – Sell Stop order of 3 lots;
  • sl 1 – Stop Loss of a position of 1 lot;
  • tp 2 – Take Profit of a position of 1 lot.


Interface: Trading Commands

Traders can send market and limit (Buy Limit and Sell Limit) orders.

Pending Orders

Buttons for placing pending orders are located on the right side of the Trading column. The order is placed at the price with a pressed button.
 when you tap on this button in the area of Bid prices, a Buy Limit order is placed at the specified price. When you do the same in the area of Ask prices, a Buy Stop order is placed;
–  if this button is pressed in the Ask prices area, a Sell Limit order at a specified price will be placed; in case it is pressed in the Bid prices area, a Sell Stop order will be placed.

Trade settings

The lower part of the DOM contains trade operation settings:

  • sl Stop Loss level is set for placed limit orders. This parameter is specified in points from the current price;
  • vol – the volume of created market and limit orders in lots;
  • tp – Take Profit level is set for placed limit orders. This parameter is specified in points from the current price.

Market orders

Market order commands are located below:

  • Sell – make a Sell deal in the size specified in the "vol" field at the best available price.
  • Close – this button is enabled only if there is an open position for a selected financial instrument. It allows you to close the entire position at the best available price.
  • Buy – make a Buy deal in the size specified in the "vol" field at the best available price.


Charts

A chart shows price changes over time. To switch to this tab, use the side or the bottom panel of the MetaTrader 5.

Chart Opening

In order to open a chart of a financial instrument, run the "Chart" menu command in the "Quotes" tab.

Chart period

In the MetaTrader 5 for Android, you can view 9 chart timeframes: from 1 minute (M1) to a month one (MN). Use the radial menu in order to switch between the timeframes.
 


 

Trade

To start to trade forex and another financial instrument of the current chart, tap on the upper panel.
There is a limit to the depth of price data that can be displayed in the mobile version of the MetaTrader 5 for Android. The depth of the data depends on the device performance, but it cannot exceed 1500 bars. As soon as the limit has been reached, the "Maximum bars limit" notice appears at the bottom of the chart.


Chart Management

A user can perform the following manipulations on charts:

  • Scrolling – to scroll through a chart, drag your finger left or right.
  • Scaling – to zoom in, place two fingers together on the area of the chart you want to zoom in and then drag your fingers apart. To zoom out, place two fingers on different parts of the screen and drag them towards each other.
  • Full-screen mode – the full-screen mode is automatically enabled when you rotate your device to the landscape mode. Further, you can switch between the full screen and normal mode by tapping on the chart.
  • Symbol – to view a chart of another symbol, tap.
  • Change the chart type – there are three chart types available. If you want to switch between the chart types, open chart settings from the radial. Select the desired presentation type from the "Line type" option:
  • Bar chart – show the chart as a sequence of bars.
  • Candlestick – show the chart as a sequence of Japanese candlesticks.
  • Line chart – show the chart as a broken line that connects close prices of bars.
  • Indicators – to start working with forex indicators on a chart, tap button on the top panel or in the radial menu.
  • Setting – in order to access chart settings, open the radial menu and tap .
  • Tile charts – you can open multiple charts in the mobile platform: up to 4 charts on Android-smartphones, and up to 6 charts on tablets. If you want to customize the arrangement of charts, tap on the top panel.
     

Understanding how to use MetaTrader 5 for Android is important, but if you need help our experts can provide step-by-step guidance. Use code WELCOME30 to get a 30$ welcome bonus to test the MT5 for Android.

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Categories:  Education