How to Use MT5: From Install to First Trade
Open an MT5 account with your broker, download MT5 from the broker or MetaQuotes, and log in with your account number, password and the exact server name from your welcome email. Then add symbols in Market Watch, open a chart, and place a trade from the New Order window with a volume in lots, a stop-loss and a take-profit. Practise on a demo first.
1. Get an MT5 account
Open an account with your broker and choose MT5 as the platform. You’ll receive a login (account number), password and server name. If you want to hold opposite positions on the same symbol, choose a hedging account (hedging rules).
2. Install and log in
- Download MT5 from your broker’s site or MetaQuotes.
- Run it, then go to File → Login to Trade Account.
- Enter the login and password, and select the server exactly as given.
- A connection indicator in the bottom-right shows traffic when connected.
3. Set up the screen
- Market Watch (Ctrl+M): your symbols with bid and ask. Right-click → Symbols to add gold, indices or crypto.
- Navigator (Ctrl+N): accounts, indicators and EAs.
- Toolbox (Ctrl+T): Trade, History, Journal tabs. The Trade tab shows balance, equity, margin and margin level.
- Charts: drag a symbol from Market Watch onto the chart area. Change timeframe from the toolbar; MT5 has 21 of them.
4. Check the contract before trading
Right-click a symbol → Specification. Check contract size, minimum volume, swap and trading hours. This matters most for gold, indices and crypto, where contract sizes vary by broker (lot sizes).
5. Place your first trade
- Press F9 or double-click a symbol to open New Order.
- Type: Market Execution (or Pending Order for a limit/stop).
- Volume: e.g. 0.01 lots. Size it from your risk with the lot calculator.
- Stop Loss / Take Profit: enter prices.
- Click Buy or Sell.
Example: $500 account, risking 1% ($5), stop 25 pips on EUR/USD → 0.02 lots ($0.20 per pip × 25 = $5).
6. Manage and close
In Toolbox → Trade, right-click a position to modify stop-loss/take-profit or close it. Watch margin level: if it falls to your broker’s margin call or stop-out level, positions can be closed automatically (margin level explained).
7. Next steps
- Automate: install an EA
- Trade on your phone: MT5 mobile app
- Compare platforms: MT4 vs MT5
- Find a broker: best MT5 brokers
Best MT5 Brokers 2026
| Broker | Platforms | Min deposit | Visit broker | ||
|---|---|---|---|---|---|
 XMFeatured | 4.9/5Editorial rating | MT4 / MT5 / XM App | 1,000:1 | $5 | Visit |
 Vantage | 4.3/5 | MT4 / MT5 / Vantage App | Unlimited | $50 | Visit |
 Exness | 4.2/5 | MT4 / MT5 / Exness Terminal / Exness Trade app | 2,000:1 | Standard from about $10 | Visit |
 HFM | 4.1/5 | MT4 / MT5 / HFM App | 2,000:1 | $0 | Visit |
 XS.com | 4.1/5 | MT4 / MT5 / XS Trading App | 2,000:1 | No minimum | Visit |
 FXGT | 4.1/5 | MT4 / MT5 / FXGT App / FXGT Trader | 5,000:1 | $0 | Visit |
 Titan FX | 3.7/5 | MT4 / MT5 / WebTrader | 2,000:1 | No minimum | Visit |
 easyMarkets | 3.7/5 | easyMarkets Web/App / MT4 / MT5 / TradingView | 2,000:1 | $25 | Visit |
 Axi | 3.5/5 | MT4 / MT5 / Axi app | 1,000:1 | No fixed account minimum | Visit |
 EBC Financial | 3.5/5 | MT4 / MT5 / EBC app | 500:1 | From $10 | Visit |
 AXIORY | 3.4/5 | MT4 / MT5 / cTrader | 2,000:1 | $10 | Visit |
 BigBoss | 3.2/5 | MT4 / MT5 | 2,222:1 | No minimum deposit | Visit |
Related
Frequently asked questions
Why can't I log in to MT5?
Usually the wrong server. Each broker has several servers; choose the one in your welcome email. Also check you're using an MT5 account, not an MT4 one.
Where do I download MT5?
From your broker's platform page or MetaQuotes' official site. Brokers' downloads come pre-set with their servers.
How do I change the lot size?
In the New Order window, type the volume in lots, for example 0.01 for a micro lot.
Why are some symbols missing?
Market Watch shows a default list. Right-click it and choose Symbols, or Show All, to add the rest.