“MT5 is a good free trading platform with countless indicators, the ability to run trading robots, and the option to share or sell custom-built indicators and Expert Advisors.
However, MT5 also leaves much to be desired because its tools are quite basic. Compared to TradingView, for example— which is paid— MT5 feels outdated. When I integrate third-party indicators, such as the VWAP (which should really be part of the platform’s standard indicator set), I have no way of knowing whether the indicator’s values are calculated correctly. I have already encountered faulty indicators. The creator of one such indicator offered on the platform’s marketplace did not respond to these issues. As a result, other traders may end up making poor trading decisions based on incorrect data.
Anyone who wants to take trading seriously should consider looking for a different trading platform.”
“Metatrader 5 is a wonderful app i do feel like a few features should be added like a breakeven feature, a risk calculator for market executions, entry alerts, and alerts for when the trade closes whether it hits SL or TP.”
“pro:
-best, if you're change from Forex to Futures,
-pretty simple but everything you basicly need (exept vwap, delta),
cons:
-chart lags sometimes in fast periods,
-you cant see the actual comission to pay - correction comes next day
sum:
-ok to trade, but always good to have a 2nd platform (like CQJ) in reserve”
“I trade with MT5 mainly because I became used to it when I traded forex. The biggest advantage was the myriad of custom indicators. That's the biggest reason. The bad? I think, it's a little slower placing orders than other platforms. This can be important sometimes. I also wish you could open charts in any time denomination, like 7M, 8M 9M charts. I would use these, but there's a limit on how many different ones you can use. Too bad.”
