In this video we will go over the mobile version of metatrader 5 for iphone.
We will demonstrate how to navigate to the mobile version of the platform, place orders, set stop loss-take profit, go over chart windows, check account history, add indicators, customize the platform, and much more. Our goal is that after you watch this video you will be ready to use MT5 for iphone with ease!
To start on the MT5 for iphone you will need to download the MT5 application, to do that simply open your app store and search for mt5, it’s hard to miss it.
Dependless of what broker you may have chosen to create an account with, there is one application to download.
The first step will be to log in to your account. To do that, tap settings on the bottom right of your phone , then a new account, and type in the broker you have created an account with , for example FBS, tap on it and enter your login and password.
Some companies have more than one server so make sure you choose the one that you have created the account with, the info can always be found on your dashboard on their website or on the email you have received by them.
Anyway once you have added your login and password sign in. Congrats you have now logged in to your account through your phone.
You will be prompted to the quotes section, and as you have probably guessed this is where you see some of the symbols available for you to trade.
To add more tap enter symbol or search on the top bar, now depends on your broker you will get quite a few options so if you want to add metals tap on it , choose the one you want and tap the green plus button next to it, automatically it will be added to your quotes.
You can also tap the pair and you will get a ton of information such as sector, industry, digits, contract size and so on. To get back to quotes tap the back button on the top left side until you see the cancel option on the top right side, please tap that. Now you are back to quotes and if you scroll down you will be able to see gold vs USD we just added.
To remove a trading pair from your main quotes screen, tap the pencil image on the top left side.Now tap the pairs you wish to remove, you will see a checkmark in a red circle and tap the trash image on the top right side. The pair has been removed. To move the pairs around to your liking, tap and hold the three lines next to them and scroll them up or down, to your liking.
Once you are finished tap the pencil icon once more to get back to the quotes. From here and by tapping on any of the pairs you can trade, check the charts, look at details, statics and the depth of the market.
Starting with trade,once you tap it you get the pair on the top, you can change it by tapping on it, and choose the one you like, keep in mind the choices you will have are based on the pairs you have or you added on your quotes screen. So if you don’t see a pair you would like to trade here, go back and add it by using the path we followed earlier.
We will get on to how to place an order a bit later on the video after we make ourselves fully aware of the application, so please bear with us.
The second option from tapping a pair is the chart, tapping on it will open the pair’s chart for you. The app will memorize your last open chart, which means if you tap anywhere on the app and tap the chart image after the same pair will be there.
To switch pair on the chart you either go to quotes and tap on any pair and pick a chart or from within the chart tap on the current pair and a drop down with the pairs you follow will appear. That way you can switch pairs without having to go back to quotes each time.
Tapping details will provide you the same info we mentioned earlier, such as sector, industry and so on, while statistics give you a good idea of the highs, lows and price change of the day.
Last the depth of the market allows you to visualize a ladder interface where you can quickly add orders, stop loss and take profit.
The next major section on the app is the chart we briefly touched base earlier. We already know how to change charts by tapping the pair and getting the drop down options. This section offers way more.
Currently the chart is in 5 minutes time frame , to change that tap the M5 on the top left side of the toolbar, and more options will appear, pick the one that works best for you, for example I will pick 1 hour, as you can see the chart changed.
The next icon on the toolbar is the “target” one, by tapping it you see a target cross appearing in your screen, this allows you to check a specific time and price accurately
The next option is the calligraphic symbol f, which give you access to the indicators, to add an indicator simply tap on one, on the next screen pick your settings and tap done, you will see it appear on your chart automatically.
To remove it tap f, and on the next screen tap edit , by tapping the red button you will get the option to delete it.
On your chart you can add objects,like lines, channels, Fibonacci, elliott waves, and shapes. To get access to all these tap the objects icon, then add objects and you get all the options mentioned above. To place the object on your chart pick the one you want, lets pick a horizontal line for example.
It is a bit tricky to get it right but once you do it once you will get used to it, Basically you need to tap the line or the object you picked on the top right of the chart and then move your finger inside the chart in the palace you want it.
Now if you tap and hold on the line, or the object you picked you will get the option to delete it or check properties. On properties you can change name, point and the color of the line, once you finish your changes tap done and you will return back to the chart.
The chart provides two more features, the first one allows you to buy or sell a limit order and place quickly stop loss and take profit.
Once you tap the image that looks like a blue and red clock, you get the option to buy a limit, rap and drag the line upwards or downwards depending what order you want to place and tap continue so you can place the order.
The last option is to add the buy and sell button on the top of your chart which will allow you to quickly enter market orders and choose your order size.
You can customize your chart , however in order to do that you need to head to settings, and then tap the charts tab there. You can switch your chart to bar or line chart instead of bar chart, add volumes, tick volumes, ask price line, period separators, OHLC, Data window or to disable trade levels, trade history and preload chart data, and very importantly to enable or disable one tap trading.
Last you can change the colour scheme or colors of the chart. The schemes available are Color on white which is set by default, green on black, black on white or you can customize it. Feel free to create the chart of your choice.
The next main function on the application is trade, here you can see your balance, equity margin, free margin and margin level. For better demonstrating this function I have opened a few orders
So in the trade tab, you can check as well all your open orders, and how they perform in the market. By tapping on any of them you can close the position, modify it, open another trade, check the depth of the market or the chart.
The history tab allows you to check your balance, deposit, profits, swaps and commission, and if you tap orders you can check the time and rate of your past and current orders. Last the deal section allows you to see not only the orders but any profit or loss made by them.
The last tab on your screen is the settings one. Here you can open a new account, log in to an existing one, get advanced trade reports, check your mailbox, the news and find a link to the app for the economic calendar as it is not included in the app.
From here you can also sign and chat with the MQL5 community.
The last 5 tabs are directed more on to personalize your application and increase safety so lets have a closer look at them.
The One time password generator is working as a safety layer for your account. To set it up add a 4 digit code, if your device supports faceid you can enable that as well, then you will get a 6 digit code which works similar to google authenticator and is bound to this account. So you will need this code every time you try to login in to the bound trading accounts. To unbind the account, tap bind the account, turn off bind option on the bottom and tap unbind on the top right side. From here you can also change your 4 digit code.
The interface tab allows you to change your language, while the journal provides detailed info on what you have done so far in the app.
The settings allow you to turn off sounds, autolock, and enable or disable news. LAst you can check all the storage used for the application and if you wish you can clean it.
How to place orders
Now that we are familiar with what the application has to offer is time to place orders and finally see how that part works.
There are a few ways to palace an order, and we will try to cover them all.
First tap Quotes so you can get all the symbols you follow, then tap at the one you want to open an order, for example EURUSD, on the options appear tap trade, once on this screen, you can buy or sell fast, but you also have the option to add Stop loss, Take profit and deviation. Once these are set tap buy or sell.
In case the price changes you will get a pop up saying you have been requoted and if you want to accept the new quotes.
Congrats your order has been placed, you will be prompted automatically to the trade tab, so you can check the performance of your new order.
Another way to place an order is through the chart tab. Many prefer this way because it is faster , but it doesn’t allow you to add stop loss or take profit instantly. You can do it later though by modifying the order.
Once in your chart screen make sure you enable the buy and sell button by taping the red and blue symbol on the top right of your screen. Then to place an order you can set the volume in the center and tap buy or sell. You can see your orders placed on the chart instantly, in my case you can see the blue separated line, the BUY and the Volume as well as the price the order was placed.
The last way to place an order is from your trade tab by tapping the ( plus) icon on the top right of your phone. Then you can pick the pair you want to trade and once more set up your preferred setting in your order and place it.
To close a position or to modify it, tap on an open order in the traders tab, and choose accordingly.
If you tap the close position , you get the option to place an order instantly or by tapping the orange line in your phone to close the order. Done, the order was closed.
If you tap modify, you get the option to add or change your existing stop loss and take profit. To do that just tap on the stop loss or take profit tabs on your screen. Once you have added your preferred values, tap modify.
MT5 for iPhone is an extremely well built application that allows traders a quick and reliable way to trade on the go. You can buy, sell, modify your orders anytime you would like without been in front of your pc or laptop.