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FBS: Trading Cryptocurrencies on MetaTrader 5


Millions of traders all over the world use the MetaTrader 5 trading platform to trade Forex, stocks, and futures. Over time, it has become popular among cryptocurrency trading enthusiasts as well. Let us find out why MT5 is so well-liked and how to use it to trade crypto. To begin with, MetaTrader 5 or MT5 is one of the most popular trading platforms worldwide, used by millions of traders. It provides ample opportunities: technical and fundamental analysis, algorithmic trading, copying trades of successful traders, as well as writing your own technical indicators. Be prepared, we will discuss all the perks in detail later in this article. Basically, you have all conditions for comfortable cryptocurrency trading.

Here you can trade Forex, stocks, metals, stock indices, commodities, futures, and, of course, cryptocurrencies. There is a wide range of crypto to trade: Bitcoin and Ethereum, Solana, Cardano, Dogecoin, Shiba Inu… You name it, MT5 has it all!

Exploring cryptocurrencies on MT5

There are many reasons why MetaTrader 5 is popular among crypto traders. What is the first thing that comes to mind? It’s simply a convenient, accessible, and reliable tool. But let us look at it in more detail. First of all, it is FIX-compliant and available on all your devices, be it your PC or mobile (on both iOS and Android). It manages multiple asset classes. And if you use trading algorithms and automated bots, you can earn more with minimal effort. The applications can be downloaded for free, which makes it easy for novice traders to get into the world of crypto trading and learn the ropes.

Benefits of MT5 cryptocurrency trading

Remember we promised a detailed breakdown of the benefits of MetaTrader 5 for cryptocurrency trading? Here it is!

How to trade cryptocurrencies on MT5

The process of how to use MetaTrader 5 is pretty simple. The first step is to open an account with a cryptocurrency broker, such as yours truly, FBS. Go to the FBS website, click the Open account button, and complete a simple registration form. Then, open a Crypto account in your Personal Area. Then, you download the MT5 trading platform. The login screen will appear when you first launch MT5, enter your FBS account info here. All done, you are ready to trade cryptocurrencies on MetaTrader 5!

Basic principles of cryptocurrency trading on MT5

You already know all about the benefits of trading crypto in MetaTrader 5. Let’s find out what else is interesting there. MetaTrader allows you to set Stop Loss and Take Profit levels for each position simultaneously, which greatly reduces the risks of a trader and greatly increases his chances of making money.

Be sure to work with charts because MT5 offers such a wide functionality! You can switch between different price display options, set timeframes, open several charts in one window, change the color scheme, use all the standard indicators or add your own, and so on and so forth.

In addition, MetaTrader has entire information sections where important exchange information flows - news, key events, and everything that can have an impact on the market. An indispensable trader’s assistant!

Conclusion

The MetaTrader 5 trading platform has low system requirements and can run on any operating system. Trading crypto through the MT5 trading terminal does not require any special skills or special abilities. Understanding the basics of the cryptocurrency market and having a profitable strategy is all you need for successful trading.

#source


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