How to Install MetaTrader 5 For Mac
When it comes to trading Forex and CFDs, MetaTrader 5 is seen to be one of the best trading platforms.
In this article, we will walk through how to download MetaTrader 5 for Mac users. There are two different processes we will be looking at, depending on which Mac OS you have installed.
Table of Contents
MetaTrader 5 Mac: Pre-Catalina OS
- From your internet browser, head to the MetaTrader 5 (MT5) download page on the Admiral Markets website.
- Click the 'Download' button and you will be prompted to enter your full name, email address and telephone number prior to downloading.
- Once entered, the download will start automatically, once the download has finished run the installer
- Drag the icon into your application folder, as shown below
- Follow the installation instructions, you may be prompted by your Mac to provide authorisation for MT5 to download
- Following completed download, MetaTrader 5 for Mac should open and be ready for use with either a live or demo trading account!
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MetaTrader 5 Mac: OS Catalina
With Mac OS, Catalina, Apple has removed the ability to use 32-bit applications. This has affected many applications, including the MetaTrader trading platforms, which do not currently work on the Catalina OS.
Parallels Desktop is an application which allows you to run a virtual machine on your Mac. A virtual machine emulates a computer and allows you to run another operating system, such as Windows, which essentially acts as another computer on the host machine.
As a customer of Admiral Markets, you will receive three months of Parallels Pro absolutely free, provided you meet the eligibility requirements which we will detail later.
With Parallels, you can use MetaTrader 5 by installing:
- Windows 10; or
- Mac OS Mojave
Using Windows means that you can use, not just MetaTrader 5, but any other Windows applications and programs right on your Mac! However, as a Mac user, you will need to purchase a license in order to comply with the Windows License Terms.
As a Mac owner, it is possible to run a separate Mac OS through a virtual machine on your Mac. Please note that this is subject to the relevant OS terms and conditions, which you must read to ensure your full compliance.
Here, we will guide you through the process for both methods, which begin the same.
1. Open an Account With Admiral Markets
Firstly, you need to open an account with Admiral Markets. To be eligible to use Parallels Pro free for three months, you must have an account balance of at least €3,000.
2. Request Your License
Register for Parallels on the Admiral Markets website.
Once you have made the request and our team has checked your eligibility, you will be emailed your license key to start using Parallels Pro.
3. Download Parallels for Mac
Next, you will need to download Parallels for Mac from the Parallels website.
Once the file has finished downloading, open it and follow the on screen instructions for installation.
Once you have downloaded Parallels for Mac and entered your license key, you need to install a virtual machine. Here is where the installation will differ depending on whether you wish to use Windows 10 or Mac OS Mojave.
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Install Windows 10 Using Parallels
If you prefer to use Windows 10, the installation process is incredibly straightforward! To install a virtual machine, you will see the screen below. Simply click the icon labelled "Get Windows 10 from Microsoft" on the left hand side.
On the following screen, you will be prompted to buy Windows 10 from the Microsoft Store. If you already have a license key, you will be able to download Windows 10 and can activate Windows with your license key after it has downloaded.
Whilst the installation is taking place, you may be asked some set up questions, much like you would when turning on a new computer for the first time. The process can take quite a long time, depending on your Mac's capabilities.
And that is it! Once the virtual machine has been created, open the internet browser within the virtual machine, and follow the instructions for downloading MetaTrader 5 for Windows!
Install Mac OS Mojave Using Parallels
Unfortunately, installing Mojave using Parallels is slightly more complicated. It is not possible to download it directly from Parallels as with Windows 10. But do not worry, we will walk you through every step!
Head to this page on the Apple website which will ask your permission to open your App store on the page for downloading Mojave. Please note that you will not be able to find Mojave in the App store without this link.
Click the "GET" button to begin your download. You will be asked if you are sure that you want to download Mac OS Mojave, click "Download". Do not worry, it will not reinstall Mojave on your computer automatically, but instead download the Installer program.
The download may take a while due to the large file size. Once Mojave finishes downloading, it should not be able to run automatically. However, if it does, all you need to do is quit the installer.
Now, head to Parallels and create a new virtual machine. You will be presented with this screen:
Click on the middle icon "Install Windows or another OS from a DVD or image file". Parallels should be able to find the Mojave installer automatically, as shown below.
If Parallels does not find it automatically, select "Choose Manually" and on the following screen "Select a file".
The Mojave installer will be in your Applications folder. Make sure that you have "All files" selected from the drop down, as shown below, otherwise you will not be able to select the installer.
Once selected, press continue. Parallels will need to convert the file to a Disk Image in order to use it to create a virtual machine. Once converted, Parallels will ask you to name the virtual machine and then the installation will begin.
You will be run through various set-up options as you would when starting a brand new computer. This process can take quite a long time, depending on your Mac's capabilities.
Once everything is finished, open an internet browser via your virtual machine and follow the instructions for downloading MetaTrader 5 for non-Catalina Macs!
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Opening a Live Trading Account for MetaTrader 5
In order to open a live MT5 trading account with Admiral Markets, follow these steps:
- Log in to the Dashboard or register an account if you have not done so already
- Once logged in, you will be directed to the 'Dashboard' tab, where there will be a section titled 'Live Accounts' - click the button shown below to open a live trading account.
- You will be led through the process of opening a live account. You will need to complete the following steps:
- Read about the different types of trading accounts available from Admiral Markets to help with your decision
- Once your request to open a live MT5 account has been validated, you will receive an email with the login details
- Open MT5 and enter your login details!
Opening a Demo Account for MetaTrader 5
In order to open a demo trading account with Admiral Markets follow these steps:
- Log in to the Dashboard or register an account if you have not done so already
- Once logged in, you will be directed to the 'Dashboard' tab, where there will be a section titled Demo Accounts' - click the button shown below to open a demo trading account.
- Fill out the resulting form with information about the account you wish to open. Read about the different types of trading accounts available from Admiral Markets to help with your decision.
- Upon completion of the form, you will be emailed your login details for your new demo trading account
- Open MT5 and enter the login details for your demo account!
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Other articles you may find interesting:
- How to Start Forex Trading Guide 2024
- An Introduction to Forex Technical Analysis
- Trading Risk Management: Top 10 Forex Risk Management Tips
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