What is MetaTrader 5?

MetaTrader 5 is a popular trading platform used for online trading in financial markets such as Forex, stocks, indices, and commodities. It's developed by MetaQuotes Software and serves as a successor to MetaTrader 4.

MetaTrader has proven itself to be one of the most reliable and advanced platforms for trading. That's why many brokers offer their services including zForex using MetaTrader. MT5 provides advanced trading tools, charting capabilities, and analytical features for traders.

It supports algorithmic trading through the use of Expert Advisors (EAs) and allows users to access a wide range of financial instruments. 

Why Should You Choose zForex as Your MT5 Broker?

MetaTrader 5 is an advanced platform that allows traders to trade, analyze markets, and use advanced tools for technical analysis for sure. Yet, at zForex we do not only offer MT5 but we also offer diverse asset selection. You can trade forex, commodities and other instruments with zForex.

We also offer educational content to improve your trading skills. You can download MetaTrader 5 from our website and also use it. Yet, you can also learn how to use it better and improve your strategies. If you have any questions or are in need of pieces of advice, you can contact our customer support about MT5 or anything else related to trading. 

How to Open an MT5 Account

Let's take a look at opening an MT5 account. Here is a list of what we're going to go through setting up a MetaTrader 5 account:

1. Download MetaTrader 5
2. Account Registration & Verification
3. Choosing an Account Type
4. Login to MT5
5. Deposit Funds
6. Start Trading

Download MetaTrader 5

Downloading MetaTrader 5 is the easiest part. No matter your account type, you will have to download the software first. You can either download it from MetaTrader's website or download it from zForex. It's possible to download it for all devices. Once you download the software, you can start account registration from our website.

Account Registration & Verification

After downloading the MetaTrader 5 platform, you will need to create an account. You can create a MetaTrader 5 account from brokers, in our case, zForex. We have three account types offered:

1. ECN
2. STD
3. Swap Free

You can also create a demo account for MetaTrader and practice before you start trading with funds. A demo account allows you to practice trading with virtual funds before risking real money.

How to Open a Demo Account?

Even if you're opening a demo account, you will have to do it through a broker. Here are the steps to open a demo MetaTrader 5 account:

1. Select a broker from the list of brokers, you can choose zForexcapitalmarket-Server
2. Select your account type, in this case, the demo account,
3. Enter your personal details such as your name, phone number, mail, etc.,
4. Agree to the terms and conditions, as well as your broker's data protection policy, then your account will be created.

How to Open a Live Trading Account?

Opening a live account on MetaTrader 5 is not so different than opening a demo account. You can either do it on our Account Types page, or through MetaTrader 5 itself. Here's how to do it on zForex:

1. Select one of the account types (ECN, STD, Swap Free),
2. Fill out and submit the form,
3. Verify your email address,
4. Check your email for account details.

Your account details include your account ID, a main and an investor password, account type, account server, balance, and the available leverage.

If you decide to open an account through the MetaTrader 5 platform itself:

1. Select your broker from the list, you can see  zForexcapitalmarket-Server
2. Select the ''Open a real account for live trading'' option,
3. Depending on your broker's settings and legislation, you can be asked to fill in employment, income, and trading experience,
4. Now you will have your preliminary account ready with zero balance,
5. You can contact your broker to start trading on a live account with real money.

Choosing an Account Type

If you have created your account on zForex, you would have already chosen an account type. However, if you have done it through the MetaTrader 5 platform, you will choose an account type again from your broker's platform. 

Brokers offer several account types for live trading. What's more important is choosing a reliable broker. Make sure the broker you choose has the required license for online trading. 

As zForex, we have three account types; ECN, STD, and Swap Free. You can select your preferred account type considering your trading style, capital, and risk tolerance.

Login to MT5

Once you have created your MT5 account, you can simply login by following the steps below:

1. Open MetaTrader 5 and click on ''File'',
2. Select ''Login to Trading Account'',
3. Be sure you're on the right server provided by your broker,
4. Enter your login credentials including your account number and password,
5. After that, you will be successfully logged into MetaTrader 5.

Deposit Funds to Your MT5 Account

Deposit funds to your account on MT5 to start trading. Again, you can either do it on the MT5 platform itself or zForex. Here's how you can deposit funds on the MT5:

1. After logging in, head over to the navigator menu and find your account,
2. Click on your broker and select ''Deposit'' from the drop-down menu,
3. Choose your payment method,
4. Once you have completed paying, you can see your balance. This may take a while depending on your payment method.

How to deposit funds to your account on zForex:

1. Enter the customer panel by logging in,
2. Choose ''Deposit'' from the transaction menu,
3. Select your payment method through the currencies,
4. Select your account,
5. Enter the amount you want to deposit,
6. Select your wallet, it's automatically brought to the bar.

How to withdraw funds from your account on zForex:

1. Enter the customer panel by logging in,
2. Select your account,
3. Enter the amount you want to withdraw,
4. Write a description (optional).

Note: You can only withdraw the currency (payment method) you deposited. 

Opening a MetaTrader 5 Account in Short

We have explained what MetaTrader 5 is and how to open an account on the platform. Whether you're opening a demo or a live account, you will have to work with a broker. As zForex, we provide trading on MT5, the top-notch trading platform along with three account types. 

We have also mentioned the steps to open an MT5 account with its requirements. You can either do it on your broker's website or on the MetaTrader's platform as well. Trading with zForex allows you to work with low spread and swap rates, transparency, and instant execution. Be sure to take a look at our Forex trading platform. 

FAQ on MetaTrader

Is there a minimum deposit on zForex to trade?

If you are going for a live trading account, the minimum deposit option is $10 in the ECN account.

Can I use MetaTrader 5 without a broker?

No, it's not possible to use MetaTrader platforms without a broker. 

Is MetaTrader 5 free?

Yes, MetaTrader platforms are free to download and use. The payments you will make will be to the broker you choose. 

Is MetaTrader 5 legal?

The use of MetaTrader platforms is legal in the regions where forex and online trading is legal. 

Is MetaTrader beginner-friendly?

MetaTrader platforms are very popular and of the most preferred platforms among traders. So, it would be suitable for new traders, especially with the demo account option.