How to Open a MetaTrader 5 Account

14 Min read

Interested in learning how to open a MetaTrader 5 demo account? How about a MetaTrader 5 live account? In this article, we will explain in detail how to open and start trading on a MetaTrader 5 account. 

How to Open a MetaTrader 5 Account 

So, how can you open and start trading on a MetaTrader 5 (MT5) account? In the remainder of the article, we will look individually at the five main steps involved in the process: 

  1. Choose an MT5 Broker
  2. Download MetaTrader 5
  3. Create Your MetaTrader 5 Account
  4. Log In to Your MT5 Account
  5. Add Funds to Your MT5 Account

1) Choose an MT5 Broker 

The first step in opening an MT5 trading account, is to find and choose a Forex broker which offers the MetaTrader 5 trading platform.  

Choosing a good broker can be a daunting task due to the amount of choice there is out there. Be sure to do your research carefully and, if in doubt, read our guide on 'How to Find the Best CFD & Forex Brokers’ which will help guide you through this process. 

How to Find a Broker for MetaTrader 5? 

At Admirals, we offer the ability to trade using both the MetaTrader 4 and MetaTrader 5 trading platforms.  

With Admirals, you can trade using MT5 in your browser or download the platform for free. Furthermore, traders who open an MT5 account with Admirals gain access to additional benefits such as our exclusive Premium Analytics portal, regular market analysis and a constantly growing library of educational articles

2) Download MetaTrader 5 

The second step is to download MetaTrader 5. Whether you are considering opening a MT5 demo account or live account, you will need to download the same software for both. 

If you are using Windows, click the banner below and follow the instructions to download MetaTrader 5! Once you have downloaded the file, open it to begin the installation process. To log in, you will need to have either a live or demo MT5 trading account, both of which we will explain how to open later on. 

The World's Premier Multi Asset Platform

For Mac users, read our article 'How to Install MetaTrader 5 For Mac' to learn how to download MT5. The specific steps involved will depend on which Mac OS you have installed. 

3) Create Your MetaTrader 5 Account 

Once you have completed your download of the MT5 trading platform, you will need to open either a live or demo MetaTrader 5 account. 

For new traders, we recommend that you practise on a MetaTrader 5 demo account before making the transition to the live markets. The process for opening a demo trading account does not differ greatly from that of opening a live account with Admirals. Below we will walk you through both processes. 

How to Open a MetaTrader 5 Demo Account 

A demo trading account allows you to trade in MetaTrader 5 with virtual funds, meaning you can practise trading in realistic market conditions, on a range of different products, without risking your own capital.  

In order to open your free MT5 demo account, simply visit the demo account page on our website and complete the form. Once you have done this, you will receive an email with your MetaTrader 5 demo account details, which you can then use to log in to the trading platform. 

How to Open a Live Account on MetaTrader 5 

If you are ready to trade on the live markets, you can open a live MetaTrader 5 account with Admirals.  

Firstly, you need to log in to the Trader's Room with your registered email address and password - if you have a demo account, this is the same email you used in the signup process. If you do not already have a Trader's Room account, you will need to create one

Once logged in to your Trader's Room, just follow these steps: 

  • Click the 'Open Live Account' button.
  • Add and verify your phone number.
  • Add the requested information over the following pages. These details will include contact information, tax identification details and your passport number.
  • Read and accept the confirmation notice.
  • Verify your identity by uploading the requested documents.

From here, Admirals will review your application, after which we will contact you by email with the results of your application. If your application is successful, you will receive your account details by email. These will include: 

  • An account ID
  • A main password
  • Account server
  • Account type
  • Account balance
  • Leverage available

You can see the full process for opening a live account in the video below. 

4) Log In to Your MT5 Account

Once you have your MT5 trading account set up, open the MetaTrader 5 trading platform. Click 'File' at the top of the screen and select 'Login to Trade Account'. 

A dialogue box will then appear on your screen prompting you to enter your MT5 account details to log in. You need to ensure that the 'Server' field matches the server details provided by your MetaTrader 5 broker. You can overtype in this field if needs be. Enter your account ID in the 'Login' field and complete the 'Password' field with your main password. 

Depicted: Admirals MetaTrader 5 - Login

5) Add Funds to Your MT5 Account 

To add funds to an MT5 live account, you will need to log in to the Trader's Room dashboard using the same email address and password you used to sign up for your trading account. Once you've logged in, follow these steps:  

  1. Scroll down to the account where you would like to deposit funds, and click 'deposit'. 
  2. Choose your preferred payment method and follow the prompts to deposit funds. 

Depending on your payment method, funds may take up to three business days to clear. Once they have cleared, your account balance will appear in your Trader's Room dashboard next to your live account details. You can also withdraw funds from the Trader's Room. 

The video below shows how to fund your MT5 account in more detail. 

Final Thoughts 

We hope you have found this article on how to create a new account in MetaTrader useful. Of course, learning how to open an account on MetaTrader 5 is really just the first step on your journey as a trader. If you would like to learn more about the technical tools you'll find in the trading platform itself, you might want to read our list of ‘Forex Indicators Every Trader Should Know’. 

The MetaTrader Supreme Edition 

Once you have opened your MT5 account, you will have access to a core bundle of indicators and trading tools within the trading platform. However, in order to enhance your trading experience, you can add a number of cutting-edge indicators and other trading tools free of charge, by downloading the MetaTrader Supreme Edition plugin (MTSE)! 

MTSE is an extension for MT4 and MT5, developed by trading experts, which expands the choice of indicators and Expert Advisors (EAs) available and is exclusively available for clients of Admirals! Click the banner below to begin your download today: 

The exclusive MetaTrader Supreme Edition

Download the most powerful plugin suite for your favourite trading platform!

About Admirals 

Admirals is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

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