What's the difference between MT4 and MT5 for placing an order?

The logic is the same (volume, stop loss, take profit), but MT5 adds more order types, depth of market to see liquidity, a built-in economic calendar, and 21 timeframes versus 9 on MT4. MT5 is also multi-asset (forex, stocks, futures).

Published June 30, 2026 · Updated June 30, 2026 · 8 min read

How to use MetaTrader 5 (MT5): the beginner guide

MetaTrader 5 keeps MT4's logic and adds more modern tools: a built-in economic calendar, depth of market, more timeframes and multi-asset access. This tutorial guides you from install to your first order, with the right risk-management habits.

Risk warning. MetaTrader is used to trade leveraged products. Between 74% and 89% of retail accounts lose money. Practise on a demo account before going live. This article is educational, not investment advice.

Step 1: choose a broker that offers MT5

Like MT4, you get MT5 through a broker. We recommend Axi (CySEC-regulated) and BlackBull (MT5 plus cTrader and TradingView). Open an account to get MT5 and your login details: Axi account or BlackBull account. Start on a demo account.

Getting started with MetaTrader 5: Choose a broker that offers MT5, Download and install MetaTrader 5, Log in to your account, Understand the interface, Place your first order. — MT5 adds markets and tools, at the cost of a busier interface.

Step 2: download and install MetaTrader 5

Download MT5 from your broker (desktop Windows/Mac, web with no install, or the mobile app). Install, launch, then log in.

Step 3: log in to your account

MT5 asks for the account number, the password and the server provided by your broker (for example "BlackBull-Live" or a demo server). Enter them to access your account.

Step 4: understand the interface

Market Watch: instruments and their live prices, with access to depth of market.
Navigator: accounts, indicators and robots (MQL5 Expert Advisors).
Toolbox (bottom): your positions, history and the built-in economic calendar.
The chart: 21 timeframes (versus 9 on MT4) to refine your analysis.

Step 5: place your first order

Open the order window (F9 or right-click the chart). Choose the order type (MT5 offers more than MT4), the volume in lots (start at 0.01), a stop loss and a take profit, then execute. As always, size your position with our risk calculator to stay under 1% risk per trade.

Step 6: use MT5's own tools

This is where MT5 shines: the built-in economic calendar flags high-impact announcements, depth of market (DOM) shows available liquidity, and MQL5 robots automate your strategy. To go deeper on the differences, see our MT4 vs MT5 comparison.

FAQ

How do I download MetaTrader 5?

From your broker (Axi, BlackBull), as desktop, web or mobile. Avoid third-party sites.

MT4 or MT5 for placing an order?

Same logic, but MT5 adds more order types, depth of market, an economic calendar and 21 timeframes.

Is MetaTrader 5 free?

Yes, free through your broker. You only pay trading costs. A free demo account is available.

Disclaimer. CFD trading on MetaTrader carries a high risk of rapid capital loss due to leverage. Most retail accounts lose money. This article is educational and not investment advice.

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