MetaTrader 5

About MetaTrader 5

MetaTrader 5 is one of the most popular platform in the world. It allows to trade Forex, Indices, Metals, Crypto. Supports Time and Sales and Order book functionality, which was not present in previous version.

MetaTrader 5 is easy to use, which make this first choice platform for retail trades.

AimFX integrates with MetaTrader 5 netting and hedging account types. It’s possible to setup MT4 as master, follower or both. It works both for Real and Demo account. 

Read more: Everything You Need To Know About Metatrader 5

Features

  • Plugin support master and follower accounts
  • Hedging and netting modes account types supported
  • Opening and closing orders at market price
  • Copy Take Profit / Stop loss
  • Partial closure supported on netting account
  • Symbol mapping between master and follower account
  • Invert / reverse position direction
  • Emergency stop – add default SL when stoploss is not set (ex. useful to meet FTMO requirements)
  • Blazing fast – copy as fast as 10 ms

Limitation

  • Pending orders are not copied
  • Partial closure is not supported on hedging account
  • Netting account:
    • Position can have only one take profit and stop loss. It’s due to how netting account works. In case you long e-mini S&P 3 contracts at 4200 and with 1 contract off at 4210, 4220, 4230, order will have TP set at 4210 full size. Once TP is executed, a 2 contract long will be opened with TP at 4220.
    • Closing position on MT5 directly is not possible. When you close position that is still open on Master, Expert Advisor will automatically detect that MT5 exposure is too small and will try to submit another trade. 
    • In order to close positions, first disable Expert Advisor or remove it from the chart, and close position after. 

Use cases

1. Copy trades from single MT5 master to one or more followers

One of the most seen use case is when trader trade is trading on single MT5 account but than decide to open another account with different broker. 

With AimFX, it’s possible to focus on trading on single account and multiply trades to one or more follower accounts.

Each follower account can be different in size. There are several ways of handling risk management.

  1. Define Money Management settings: based on balance ratio, equity ratio, lot multiplier or fixed lot size
  2. Define risk ratio – which multiply master lot size to each of follower accounts
  3. Define TP/SL strategy
 

2. Scale lot size 

Imagine situation when trader is doing well on small lot size but when he/she increase the lot size, immediately start to lose money. 

One of solution might be, trade on small master account and focus on the process/strategy, and copy trades to bigger account size. 

 

3. Trade on MT4 and copy trades to MT5

MT4 is the most popular platform for retail traders. Many Expert Advisors / indicators were written to it. Not all of them are available in MT5. 

With AimFX you can use existing Indicators or Expert Advisors on MT4 and handle execution with broker on MT5 account. 

With AimFX trade copier, it’s possible to copy trades between MetaTrader 4 and MetaTrader 5 platforms.

 

Table of Contents

Available platforms: