years on the market
Grand Capital offers seven types of trading accounts to clients, each has different conditions, instruments, and fees. MT5 account deserves special attention: the central idea behind this account type revolves around employing the cutting-edge MetaTrader 5 platform. Let’s explore its features and look at feedback.
Even after MetaQuotes released the new terminal MetaTrader 5 a few years ago, most users continue to use the familiar previous version. MetaTrader 4 is considered a classic among similar trading platforms, and rightly so. That’s why we wanted to give special attention to MT5 and highlight its main features available at Grand Capital: the account includes both the classic terminal’s advantages and some useful new features. How is it not a new classic?
Trading conditions
Thanks to the access to a prime broker, MT5 account has high liquidity, which allows offering spreads of 0.4 for the most liquid instruments, which is below the average market values. Over 450 trading instruments are available on the account, which is a bit fewer than the total on all accounts that use MetaTrader 4. Along with currency pairs, available instruments include CFDs on stocks, metals, energy and agricultural commodities, cryptocurrencies. Flexible order execution settings prevent requotes and minimizes the possibility of slippage.
Leverage up to 1:100 is floating. The technology changes the amount of leverage during trading in proportion to the number of open trades. Usually, the value is reduced to curb the risk of a deposit overrun.
MT5 at Grand Capital is also attractive due to small fees: from 0.1% depending on the instrument.
Netting or hedging?
Both. When opening an account, traders can choose either of the two accounting systems. Netting is a classic system where open positions for buying and selling the same instrument overlap and close. Hedging allows opening as many positions as you like for the same instrument in different directions.
There are advantages to both systems. For example, if an open position enters a drawdown, you can always correct the situation by averaging out. The opening price of the first-order changes after the next one is opened, the drawdown decreases, which means you’re more likely to close all drawdowns and make a profit.
Hedging is suitable for traders who simultaneously use different strategies with the same instruments, as well as for those who use locking when the price goes in the opposite direction.
MetaTrader 5 trading terminal
The trading terminal on MT5 accounts has the same features as MetaTrader 4, but it’s more versatile and possesses extensive capabilities, allowing to create your own algorithms. The platform includes an economic calendar, an improved chart with 21 timeframes, and a number of indicators that weren’t present in the previous version.
One of the main advantages is the ability to use not only built-in analytical resources, such as MT5 tables, indicators and charts, but also to create your own technical indicators. This is possible thanks to the MQL5 programming language, created specifically for trading.
Thanks to the extensive development toolset, traders can create trading robots or expert advisors (EA) and get very accurate market analysis and forecasts.
For several years now, traders have been reluctant to move from the familiar MetaTrader 4 to MT5. But after the transition, it turns out that a slightly different design and additional features won’t prevent you from learning your way around the new platform in a couple of minutes, provided you have the experience of trading in the previous version.
MetaTrader 5 reviews
Here’s the feedback from traders who switched from MetaTrader 4 to MetaTrader 5:
“What other terminal has such a wide range of options and instruments? Perfect capabilities for technical analysis. A large selection of timeframes, charts, expert advisors, and mirror trading.”
“It has everything and anything for analysis. 21 timeframes allow you to analyze charts with any time periods. 38 technical indicators and 39 graphical objects are available. You can use the economic calendar and read the current news”
“And although I have met different reviews of MT5, especially from big fans of the previous version, I believe that there are almost no grounds for criticism, especially now that the developers have fixed all glitches and weaknesses. The platform is reliable, stable, and features some of the most comprehensive feature sets on the market. This is a confident leader in its segment. There are simply no alternatives. The important thing is to find a broker with good conditions and a wide range of trading instruments on this terminal.”
“When I contacted Grand Capital in 2019, I requested a custom investment portfolio with Asian securities. In addition to trading, I wanted to generate passive income. The shares I needed were only available in MetaTrader 5. Like most, it’s hard for me to accept new things, but that time I decided to give it a go and I wasn’t wrong. The platform’s new analysis features allowed me to reexamine my trading system in places and significantly improve it. And while I was adjusting my trading system, the funds in Asian and, on the company’s advice, European shares started generating a stable income. I am completely satisfied with the platform and won’t even think of returning to MT4. And why would I want that?”
If you haven’t tried using this platform yet, it’s high time you started. You just need to download MetaTrader 5 and join thousands of traders. Don’t forget to share your experience in the comments!