MetaTrader 5 – Platform Overview and Traders’ Feedback
MetaTrader 5 is a commonly adopted trading platform created by MetaQuotes Software. Its purpose is to facilitate online trading across a variety of financial markets. This platform grants access to currencies, cryptocurrencies, stocks, futures, commodities, metals, and other assets. Hence, it is regarded as a versatile solution for traders.
Trading Terms and Platform Features
The MT5 platform offers an extensive array of technical tools for market analysis. Its service enables users to personalize various chart types, apply indicators, and trigger scripts and advisors. The platform’s capabilities empower traders to scrutinize market conditions and make well-informed decisions.
MT5 provides support for automated trading options. The terminal comes equipped with pre-built robot variations. Users can seamlessly integrate advisors into the software without necessitating programming skills. This approach allows market participants to conduct round-the-clock trading without their direct involvement.
MT5 grants access to economic news and an events calendar. Users can keep track of significant global developments and their market-influencing announcements without the need to scour external resources.
The developers have considered traders who prefer mobile trading, creating a specialized mobile app. Metatrader5 offers fast order execution with minimal delays, crucial for volatile markets, and it supports deposits as low as 1 unit of the base currency. Spreads and commissions vary depending on the chosen broker.
How Scammers Deceive Traders on MT5
MetaTrader 5 is simply software. Its developers have obtained a license and ensure the quality of the service. Access is granted exclusively to legitimate brokerage firms, so using MT5 doesn’t inherently involve the risk of losses due to program malfunctions.
Nonetheless, fraudsters exploit the software’s strong reputation. They lack the capability to provide investors with the genuine platform version, hence programmers from unauthorized companies replicate it through code duplication. They assert the utilization of a plagiarized version (naturally, presenting it as the original) within the MetaTrader5 investment project, leveraging the positive software reviews, which serve as implicit promotion for the fraudulent project.
The altered platform lacks the features of the original. In reality, it’s a facsimile. The new software retains only the visual interface of MT5. Upon closer examination, it’s clear that the platform provides minimal functionality. Traders are offered a basic set of options: to buy, sell, configure trade volume, draw trend lines, and use a significantly reduced list of indicators.
Such platforms are manipulated by their developers. The platform’s algorithms are programmed to specific tasks, simulating trading activity and its outcomes. If the goal is to inspire clients to deposit more funds, trades are closed with profits. However, when traders are no longer seen as financial contributors, the market begins to move against them, ultimately leading to the complete loss of their accounts, purportedly due to incorrect market analysis.
These facades are employed by companies operating under the so-called “kitchen” financial scheme. Programmers must work diligently to create the illusion of price movement on the terminal screen.
Metatrader 5 – Investor Feedback
The MetaTrader 5 trading platform is user-friendly for the majority of traders. Traders who use its original version, provided by legitimate brokerage companies, leave positive reviews about their experience with the software. For instance, Daniil Budyansky, in his post, praises the platform’s straightforward interface, its advanced features, and its reliable performance.
Online, there are users who are familiar with the MT4 terminal, and they were not particularly impressed by its update to the MT5 version. These investors have no inclination to dive into the nuances of the new project, and they view the innovations as drawbacks. They express these sentiments in their MetaTrader 5 reviews. For example, Olga, in her comment, mentions the need for further exploration of the terminal and highlights the restriction on trading strategies with locks as a downside.
A distinctly negative tone characterizes the content of reviews about MetaTrader 5 from customers of fraudulent companies offering access to the supposedly legitimate platform as their primary trading platform.
Maxim, in his commentary on the terminal’s performance, notices its sluggishness when switching timeframes. In reality, this serves as a warning signal indicating potential risks of deception.
When selecting a broker for trading activities, one critical factor is the range of trading platforms supported by the company. The success of your trades depends on the proper functioning of the trading terminal. A registered software license is an assurance that your transactions won’t be tampered with by the financial service provider.
The platform should provide analytical tools that traders are accustomed to using. It’s advantageous if you can customize the appearance of asset charts, apply indicators, and automate trading. Ideally, the platform’s interface should be user-friendly.
MT5 is widely embraced by traders due to its functionality and advanced features. Despite the favorable reviews of the platform, the crucial decision lies not in selecting the platform itself but in choosing the right broker for collaboration. It’s important to consider their reputation, legal status, trading conditions, and security level.
ChartTrader is one of the key programs offered by the brokerage company Interactive Brokers, designed for active traders who are looking for deep integration of analytical charts with instant order execution capabilities. This platform is ideal for traders seeking maximum efficiency and speed when dealing with financial markets, providing a powerful set of tools for analysis and trading directly from the chart.
Like all IB broker products, the terminal in question turned out to be a dud. Users actively write that the platform works with constant freezes and crashes. Developers ignore the importance of releasing software updates in a timely manner. Therefore, investors continue to lose money due to the fault of the company.Read More
ProRealTime is an advanced trading platform designed for professional traders and investors. This software provides access to a wide range of financial instruments, including stocks, futures, options and currencies. Key features include in-depth market analysis, automated trading, and personalized charts. The developers’ statements are traditionally far from reality, because this is exclusively fraudulent software created for scam brokers.Read More
Trading platform Mirror Trader created by scammers. Scammers claim to develop an intuitive interface for automated trading, promise a wide arsenal of tools for analytical work, but in reality they cooperate with fraudulent brokers, draining money from gullible investors.Read More
ProTrader is a feature-rich multi-asset trading solution aimed at retail brokers, banks and premium brokers. This platform combines trading of Forex, shares, futures, bonds, options, CFDs and spread betting in a direct market access (DMA) model. However, there are more and more complaints about the project in question on the RuNet. Users write that the project is run by scammers.Read More
ZuluTrade is an innovative platform for social trading and asset management, owned by the FINVASIA group of companies. The platform prides itself on transparency and offers a simplified copy trade and social trading experience using a variety of instruments including cryptocurrency CFDs, shares CFDs, forex, commodities and indices.
The office strives to become the largest social trading community in the world, but in reality it is a drain project. Accusations of the project of fraud are increasingly appearing on RuNet. Managers do not bear any responsibility for trading performance. Therefore, investors face colossal losses.Read More
MetaTrader 4 stands as an electronic platform crafted for retail trading across the financial markets. It originated from the creative minds at MetaQuotes Software, with its initial product announcement dating back to 2005.
This trading terminal has garnered favor among traders, with a significant portion opting for it from the myriad of available choices. Its notable appeal can be ascribed to its intuitive user interface and an extensive array of features.