Trading Platforms (How to Guide) – MT5

Trading Platforms We Offer

OneRoyal provides access to three powerful and reliable trading platforms trusted by traders worldwide:

  • MetaTrader 4 (MT4) – The industry-standard platform known for its simplicity and stability.
  • MetaTrader 5 (MT5) – The next-generation platform with enhanced tools, faster execution, and advanced charting.
  • orTrader – Our modern, intuitive trading platform designed for a seamless trading experience across devices. These platforms allow traders to trade Forex, Commodities, Indices, Cryptocurrencies, and more with fast execution and top-tier security.

MetaTrader 5 (MT5)

MT5 is a next-generation trading platform designed for Forex, CFDs, and commodities.

It features faster execution, improved charting tools, additional timeframes, more order types, and advanced analytical capabilities.

MT5 is ideal for traders who want enhanced market depth, flexible tools, and a seamless trading experience.

How to Download MT5

Desktop:

  1. Visit the OneRoyal website.
  2. Navigate to Platforms → MT5.
  3. Scroll down and download the version suitable for your device (Windows or Mac).
  4. Install and launch MT5.

Mobile:

  1. Open the App Store or Google Play.
  2. Search MetaTrader 5.
  3. Download and install the app.

How to Log In to MT5

To log in:

  1. Open MT5.
  2. Go to File → Login to Trade Account.
  3. Enter your:
    • Login number
    • Trading password
    • Server name (as provided in your email)
  4. Click Login to connect.

Introduction to the Basic Sections of MT5

MetaTrader 5 (MT5) is a modern trading platform designed to be easy for beginners while offering advanced tools for experienced traders.

To use MT5 effectively, it’s important to understand its four main sections:

  1. Market Watch

Displays real-time Bid/Ask prices for all available instruments.
From here, you can open charts, place orders, and view symbol details.

  1. Charts

Shows the price movement of the selected instrument.
You can analyse the market using different timeframes, indicators, and drawing tools.

  1. Navigator

Provides access to your trading accounts, indicators, Expert Advisors, and scripts.
Indicators and EAs can be dragged directly onto charts.

  1. Toolbox

Your main control centre for monitoring trades and account activity.
It shows open positions, trade history, balance, equity, margin, and notifications.

Together, these sections help you analyse the market, place trades, and manage your trading activity from one platform.

MT5 – Market Watch

The Market Watch window displays real-time price quotes for all available instruments, including Forex, indices, commodities, stocks, and cryptocurrencies. It allows traders to quickly view Bid/Ask prices and monitor the instruments they wish to trade.

What You Can Do in Market Watch

  • View live price quotes
    Each symbol shows the current Bid (sell price) and Ask (buy price), along with daily price changes.
  • Open charts or place orders
    Right-click on any instrument to open its chart, place a new order, or access trading options.
  • Add or remove instruments
    Right-click inside Market Watch and select Symbols to show or hide available instruments.
  • Check instrument details
    Select Specification to view key information such as contract size, margin requirements, swap rates, and trading hours.

MT5 – Market Watch

If you cannot see a symbol in your Market Watch, follow these steps to add it:

  1. Go to Market Watch.
  2. Right-click anywhere inside the window and select Symbols.
  3. Browse the available categories (Forex, Metals, Indices, Crypto, Shares, etc.).
  4. Select the instrument you want and click Show.
  5. Click OK. The instrument will now appear in your Market Watch list.

Tip: You can expand each category to view all available instruments and check their specifications, such as contract size, margin, and trading hours.

Charts

Charts are the main tool traders use to analyse the market. They display real-time price movements and allow you to apply indicators, drawing tools, and plan your trades.

How to Open Charts on MT5

  1. Go to Market Watch.
  2. Click on the instrument you want to view.
  3. Double-click the instrument or drag it into the chart area.

The chart for that instrument will open automatically.
You can open multiple charts at the same time and arrange them to suit your trading style.

What You Can Do Once a Chart Is Open

  • Change timeframes
    Use the top toolbar (M1, M5, M15, H1, H4, D1, etc.) to view different market perspectives.
  • Switch chart types
    Choose between candlestick, bar, or line charts.
  • Add indicators
    Apply tools such as Moving Averages, RSI, MACD, and more to analyse trends and price action.
  • Add drawing tools
    Use trendlines, support and resistance levels, Fibonacci tools, and other drawing objects for analysis.

Beginner Tips:

  • Charts update in real time when your connection is active.
  • You can save your preferred chart setup as a template and apply it to other charts.
  • Right-click on the chart and select Properties to customise colours and appearance.

MT5 – Navigator

The Navigator window provides quick access to your trading accounts, indicators, Expert Advisors, and other tools.

What You Can Find in the Navigator

  • Accounts – Switch between Demo and Real accounts
  • Indicators – Built-in indicators (Trend, Oscillators, Volumes, Bill Williams, Custom)
  • Expert Advisors – Automated trading tools
  • Scripts & Services – Additional platform tools

How to Add Indicators

You can add indicators in two ways:

From the Navigator:

  • Open Navigator
  • Expand Indicators
  • Drag and drop an indicator onto the chart

From the top menu:

  • Go to Insert → Indicators
  • Choose a category and select an indicator

Tip: Press Ctrl + N or go to View → Navigator if the window is not visible.

MT5 -Toolbox

The Toolbox window allows traders to monitor account activity, open trades, history, and important notifications. It can be opened by pressing Ctrl + T or by going to View → Toolbox.

Trade Tab

Shows all your open positions in real time.

Here you can:

  • View profit/loss (P/L), balance, equity, margin, and free margin
  • Check trade details such as volume, open price, and swap
  • Modify or close trades directly

History Tab

Displays your past trading activity, including:

  • Closed positions
  • Deposits and withdrawals
  • Balance adjustments

This tab is useful for reviewing previous trades and analysing performance.

Journal Tab (Beginner Tip)

Records all platform actions and system messages.
If something goes wrong (for example, an order is not placed), the Journal can help identify the reason.

How to Place a Trade

Market Orders

  1. Open New Order
  2. Select the Volume
  3. Optionally place a Stop Loss and Take Profit
  4. Click Buy or Sell at market price
  5. You will find your open position in the terminal

Pending Orders:

  1. Choose Pending Order Type
  2. Select the type of Pending Order you wish to open
  3. Select the price at which you want the trade to be triggered
  4. Click on Place.

How to Set Take Profit (TP) & Stop Loss (SL) on an Existing Trade

Setting TP and SL helps you manage risk and automatically close your trade at your preferred price levels.
Follow these steps to add or update TP/SL on a trade already open:

On an existing trade:

  1. Go to Terminal → Trade to see your open positions.
  2. Right-click on the trade you want to edit and select Modify or Delete Order.
  3. Enter your desired Take Profit (TP) and Stop Loss (SL) levels in the fields provided.
  4. Click Modify to save your changes.

Once applied, your TP and SL levels will appear on the chart as horizontal lines, allowing you to easily visualise your risk and target levels.

Tip:

Take Profit must be set away from the current market price by the minimum required distance (depends on instrument and broker). 

How to Close a Trade on MT5

Method 1: Close from the Trade Tab

  1. Open the Terminal window (Ctrl + T)
  2. Go to the Trade tab
  3. Right-click on the open position
  4. Select Close Order

Method 2: One-Click Close

  1. Open the Trade tab in the Terminal
  2. Click the X icon next to the open position
  3. The trade closes immediately at market price.

The position will disappear once it is successfully closed.

Instrument Specifications

The Specifications window in MT5 displays key trading details for each instrument.
Unlike MT4, margin requirements are shown as values, not percentages.

Contract Size

The volume of one standard lot.
For Forex pairs, this is typically 100,000 units (e.g. 100,000 EUR for EURUSD).

Used to calculate pip value and trade size.

Initial Margin

The exact amount required to open 1 lot of the instrument.

In MT5, the margin percentage is not displayed separately. Instead, it is embedded in the Initial Margin value.

Example:

Contract size: 100,000

Initial margin: 100,000
→ This reflects 100% margin (1:1 leverage)

Swap Rates

Overnight financing costs for holding positions:

  • Swap Long – applies to Buy positions
  • Swap Short – applies to Sell positions

MT5 also displays:

  • Swap calculation type (e.g. in points)
  • Triple swap day (usually Wednesday)

Trading Hours

Shows when the instrument can be quoted and traded each day of the week.

 

Common MT5 Errors and What They Mean

“Invalid account”
Usually caused by incorrect login details or selecting the wrong server.
Fix: Re-enter your login and password and ensure you select the correct server (Demo or Live).

“No prices” / “No connection”
MT5 is not receiving price data from the server.
Fix: Check your internet connection or reconnect to the trading server.

“Market closed”
You are attempting to trade outside the instrument’s trading hours.
Fix: Check the instrument’s trading schedule under Specifications.

“Not enough money”
Your free margin is insufficient to open the position.
Fix: Reduce the lot size or add funds to increase available margin.

“Trade disabled”
Trading is currently not allowed for this instrument or account.
Fix: Verify the instrument is enabled for trading or contact Support.

“Invalid volume”
The selected lot size does not meet the instrument’s volume requirements.
Fix: Check the minimum and maximum volume limits in the instrument specifications.

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