Learn How to Use MT5

Learn How to Use MetaTrader 5 (MT5) on Desktop

Step 1: Open a TMGM MT5 Trading Account

  1. Head to MT5 Download page.
  2. Click on 'Download MT5 for Desktop’
  3. Click 'Sign Up' and fill in your details.
  4. Login into your account

Step 2: Setting Up MetaTrader 5 (MT5) on Desktop

  1. Access the TMGM website using your desktop browser.
  2. Navigate to the 'Platforms' section, then choose 'MetaTrader 5'.
  3. Click the 'Download' button to start the download process.
  4. Once the download is complete, locate the file in your downloads folder and double-click on it to begin the installation process.
  5. Adhere to the on-screen instructions to complete the installation on MT5 on Your Desktop.

Step 3: Log into Your Trading Account

  1. Open MetaTrader 5 on your Desktop
  2. Navigate to 'File' on the top left corner, then click 'Login'
  3. Enter your TMGM trading account credentials (Account Number & Password) and ensure that you select the appropriate server (TMGM-Demo or TMGM-Live), depending on your account type.

Step 4: Deposit/Withdraw Funds

  1. Locate the ‘Withdrawal’ or ‘Withdraw Funds’ section. This can typically be found in the same area as the deposit options in the 'Navigator' or ‘Terminal’ window.
  2. Select the MT5 account that is supposed to either receive the deposit or perform the withdrawal process.
  3. Enter the deposit/withdrawal details such as amount of deposit, card details or e-wallet account information etc.
  4. Review and confirm that the deposit/withdrawal amount and payment method is correct.
  5. Click the ‘Authorize’ or ‘Confirm’ button to initiate the deposit/withdrawal.
  6. Wait for the confirmation message indicating that your deposit/withdrawal request has been received and is being processed.
  7. Once the deposit/withdrawal is successfully processed, log into the MT5 account and verify that the amount in the trading account has been updated.

Step 5: Navigating the MT5 Interface

Upon launching MT5, you’ll see the main dashboard. It contains various panels, including Market Watch, Navigator and Terminal. Familiarize yourself with these sections.

  1. Market Watch: Locate the Market Watch window to view real-time quotes for different trading instruments. Right-click within this window to customize the list of instruments you want to monitor
  2. Navigator: The 'Navigator' panel provides quick access to your accounts, indicators, and 'Expert Advisors'. Expand or collapse categories as needed.
  3. Terminal: The 'Terminal' panel displays your account information, including balance, equity, and margin. It also shows your open trades and order history.

Step 6: Setting Up Alerts & Notifications

  1. Navigate to the 'Alerts' Tab.
  2. Create a new 'Alert'.
  3. Configure the settings of the 'Alert' based on the respective 'Symbol', 'Price/Value' & 'Action'.
  4. Set parameters for the 'Alert'.
  5. Give the 'Alert' a name.
  6. Save the 'Alert' once all the configurations have been done.
  7. Activate the 'Alert'.
  8. Monitor the 'Alert' frequently as it will trigger when the specified condition(s) is/are met in the market.

Step 7: Placing Trades on MT5

  1. Click an instrument in the 'Market Watch' section or select it from the ‘Charts’ menu.
  2. Right-click on the chart and select ‘Trading’ or use the ‘New Order’ button in the toolbar. This will open the 'Order Window'.
  3. In the 'Order Window', choose the type of order you want to place.
  4. Specify the volume or trade size for your order.
  5. Set a ‘Stop Loss’ or ‘Take Profit’ level for the pending order.
  6. Review the order details in the ‘New Order’ window.
  7. Click ‘Buy’ or ‘Sell’ to confirm and place the order.

Frequently Asked Question

No, you cannot directly use your MT4 account ID to access MT5. You will need to create a new MT5 account with TMGM to start trading.

Just follow the below steps:

  • Right-click the Market Watch window.
  • Select "Symbols".
  • Choose the desired instruments from the list or search for them.
  • Click "Show" to add them to your Market Watch.

Just follow the below steps:

  • Find EA: Locate your downloaded EA file or browse the MT5 Marketplace.
  • Drag & Drop: Double-click or drag the EA onto a chart you want it to run on.
  • Adjust Settings (Optional): Adjust input parameters in the pop-up window if needed.
  • Activate: Click "Ok" to activate the EA.

Follow the below steps for basic customizations of the MT5 charts:

  • Right click on the chart that you want to tweak.
  • You will be able to perform basic customizations such as customizing the chart type, colours and indicators.
  • Click 'Save' or 'Done' and the customization will be active.

Follow the below steps to create custom indicators in MT5:

  • Browse the MT5 Marketplace & find thousands of ready-made indicators (Both free & paid).
  • Download the respective indicators and add them to the charts by a simple drag-and-drop method.
  • Customize the settings by tweaking the parameters to fit a particular trading style.
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