Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

How to Open a Metatrader 5 Account

Reading time: 8 minutes

Curious about how to set up a MetaTrader 5 account? This article will explore everything you need to know about how to get started with the MetaTrader 5 live account. Moreover, this article will also discuss how to create a demo account for MetaTrader 5 (MT5), and other useful tips you'll need to get started, such as adding and withdrawing funds.

How to Create an Account in MetaTrader

To answer the question of how to open a trading account on MetaTrader 5, we need to look at three core stages that are involved in the process.

These three stages are:

  1. Setting up the MT5 platform on your device
  2. Creating a trading account
  3. Authorising the trading account on your MT5 platform.

Let's look at these three stages individually, to provide us with a more detailed understanding of how to open a trading account on MetaTrader 5.

Setting up MetaTrader 5 on Your Device

Whether you are considering opening a live account for MetaTrader 5, or a demo trading account, the first thing you need to do is install the software. Whether you are using a PC or Mac, or perhaps considering trading on a mobile device with Android or iOS, if you are trading with Admiral Markets, there is an optimised version available for you.

If you are using a PC, launch the '.exe file' and follow the instructions in the installer wizard. When you first run MetaTrader 5, it will prompt you to select a server, as shown in the screenshot below:

MetaTrader 5 platform, January 2018

Source: MetaTrader 5 platform - Accessed: January 2018

If you click on the suggested 'Admiral UK-MT5' server and click 'Next', the dialogue will prompt you to log in, as you can see from the image below:

MetaTrader 5 platform, January 2018

Source: MetaTrader 5 platform - Accessed: January 2018

To log in, you will need to have either a live trading account or a demo account.

How to Open a Live Account in MetaTrader 5

Once you have the MetaTrader platform on your device, you will need to open an account with a broker. How to make a MetaTrader broker account: go to the signup page for your chosen broker to open a live account. Fill out the necessary details, and a real trading account will be created for you to use with MetaTrader 5.

Some people prefer to practise on a demo account (or test account) before they transition to a live MetaTrader account. Opening a demo account does not differ greatly from the method for to how to open a real account for MetaTrader, though you will have to provide fewer details by comparison.

How to Make a Test Account for MetaTrader 5

A great way to learn how to trade with MetaTrader 5 is with a demo account.

A Forex demo account enables you to trade Forex in MetaTrader 5 with virtual funds. This allows you to place experimental trades with freedom, knowing that your capital is not at risk while you are learning the ropes and testing your strategies. You can trade on a wide range of products, using real market prices, all through one demo account. So whether you are considering whether or not to trade European indices through your MetaTrader demo account, or perhaps with the price of oil, you just need one test account.

There is an occasional misconception that you can download a MetaTrader 5 demo account, but as we detailed above, the MT5 software is the only download you need to make. The creation of a demo account is a separate process, which requires no additional download.

In the image below, you can see one of the ways of how to get a new demo account for MetaTrader 5. That is, the window provides you with the option of logging in to an existing trading account, or creating a new demo account. You can always access this screen from within MetaTrader 5 by clicking on 'File' at the top of the terminal and selecting 'Log in to Trade Account'.

Clicking on this option does not directly create a demo account, however. Instead, it links you through to Admiral Markets' Trader's Room, which is where you need to go in order to open a Forex demo account for MetaTrader 5. You will need to register first, and then log in to Trader's Room. Once you have logged in, select the 'Accounts' tab and choose 'Open Demo Account'. Choose 'Admiral MT5' from the 'Type' dropdown menu, as shown in the image below:

Opening a demo account

Source: Admiral Markets' website - Accessed: January 2018

Click on the blue 'Open a Demo Account' button once you have filled out the form, and this will instantly open your test account. Once you've opened your trading or demo account with a broker, it is simply a question of how to add the broker trade account to MetaTrader 5. The answer is by going through the authorisation process.

Authorising a Forex-Supported MetaTrader 5 Account

Once you have opened your account, you will be sent your authorisation details. You will receive four pieces of information for this purpose.

These include:

  1. An account ID
  2. A main password
  3. An investor password
  4. Details of which server you should connect to.

The first two items are your unique login details for trading on your account. The investor password allows read-only access to your account. The fourth item directs MetaTrader 5 to the broker's server, that will recognise your account. Select 'File' from the tabs at the top of your MT5 terminal, and then 'Log in to Trade Account'.

MT5 Login

Source: MetaTrader 5 platform - Accessed: January 2018

You need to ensure that the 'Server' field matches the server details provided by your 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, and then click 'OK' to finish the authorisation process. Once you have successfully logged in, you should see your account details in the 'Navigator' window to the left of your screen.

MetaTrader 5 Supreme Edition Plugin

Once you have opened your MetaTrader 5 live account, you will have access to a core bundle of indicators. If you would like to expand that selection, there are a vast number of custom indicators that you can purchase from the MT5 Marketplace.

Alternatively, you can add a number of cutting-edge indicators and other trading tools free of charge, by downloading the Supreme Edition plugin (MTSE) for MetaTrader 4 and MetaTrader 5. MTSE is a custom plugin developed by market professionals that expands the choice of indicators and expert advisors available on the MT5 platform.

Ways of Funding a MetaTrader 5 Account

To trade, you need to fund your account. Doing so is easy, as is withdrawing money from your account. To do so, simply log in to the Trader's Room facility and select the 'Money Operations' tab, as shown in the image below:

Admiral Markets website, January 2018

Source: Admiral Markets' website - deposit funds & withdraw funds

Open an Account for MetaTrader – A Final Word

We hope you have found this article on how to create a new account in MetaTrader useful. Of course, opening an account for MetaTrader 5 really is just the first step on your journey as a successful trader. If you would like to learn more about the technical tools you'll find in MetaTrader 5, you might want to read our list of the Most Important Forex Indicators.

Trade on MetaTrader 5 With Admiral Markets

Admiral Markets offers the ability to trade with MetaTrader 5 in your browser, or to download the entire platform for FREE! Gain access to real-time market data, technical analysis, insight from professional trading experts, and thousands of trading instruments to trade and invest with. Start your trading journey the right way, click the banner below to get started!

Trade With MetaTrader 5

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.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.