Mobile Trading With the MetaTrader 5 App

January 13, 2021 12:21 UTC

Have you ever wondered if it is possible to trade whilst on the go? And if it is, how to do it? If you have, continue reading! In our article, we will provide a guide to mobile trading and demonstrate how simple to use it is with Admiral Markets and the MetaTrader 5 trading app.

What Is Mobile Trading?

With constant advances in technology, retail trading is more accessible than ever before. In the last few years, traders have simply required a computer and an internet connection to get started. 

And now, you do not even need the computer! It is now for traders to trade directly from their mobile telephone! Meaning that mobile trading allows people to trade on the move, away from their desktop, from anywhere in the world, provided their smartphone has an online data connection. 

When it comes to mobile trading, the MetaTrader 5 app is one of the most popular choices with professionals and beginners alike. 

In the following sections, we will provide a walkthrough guide on how to trade on the go with MetaTrader 5.

The MetaTrader 5 App

First things first. In order to begin trading with the MetaTrader 5 (MT5) trading platform from your mobile phone, you will need to download it! Go to your phone’s app store, either Apple or Android, and search “MetaTrader 5”.

Depicted: App Store - MetaTrader 5

Once downloaded, enter the trading app’s settings, click on “New Account”, search for your server (Admiral Markets) and log in using your MT5 account details. You can find your trading account details by logging into the Trading Room.

Depicted: Admiral Markets MetaTrader 5 App

Depicted: Admiral Markets MetaTrader 5 App

Now you have logged into the app, you can begin mobile trading straight away! Let’s take a look around the app and how it functions.

Quotes

At the bottom of the screen on the left hand side, there is an option labelled “Quotes”, which, for people familiar with the desktop version of MT5, is the equivalent of the “Market Watch” tab.

From this screen, shown below, you can see a list of symbols ready to trade, with their current bid and ask prices displayed as well as other information. 

Depicted: Admiral Markets MetaTrader 5 App - Quotes. Date Captured: 6 January 2021.

If the instrument which you wish to trade is not displayed, simply click in the search bar at the top of the screen. From here, you can either type the name of your desired instrument or browse through the categories listed on the screen.

Depicted: Admiral Markets MetaTrader 5 App - Quotes - Add Symbol.

For example, if you wanted to trade gold, you could select the “Metals” option after which you would be presented with the screen below. In order to add gold to your “Quotes” screen, click the green “+” next to gold and it will be added!

Depicted: Admiral Markets MetaTrader 5 App - Quotes - Add Symbol.

Charts

From the “Quotes” screen, click an instrument to bring up a list of possible actions, click “Chart” and you will be taken to a price chart for the instrument.

Depicted: Admiral Markets MetaTrader 5 App - GBPUSD

The price charts are best viewed with the phone screen in horizontal mode, as shown in the image below.

Depicted: Admiral Markets MetaTrader 5 App - GBPUSD H1 Chart. Date Range: 30 December 2020 - 6 January 2021. Date Captured: 6 January 2021. Past performance is not necessarily an indication of future performance.

From here, you can enjoy many of the same functions whilst mobile trading that you would on the desktop version of MT5. Press anywhere on the chart whilst in horizontal mode to bring up options on either side of the screen, as shown below.

Depicted: Admiral Markets MetaTrader 5 App - GBPUSD H1 Chart. Date Range: 30 December 2020 - 6 January 2021. Date Captured: 6 January 2021. Past performance is not necessarily an indication of future performance.

On the left hand side of the screen, we can see options regarding which timeframe you want displayed on the chart. 

On the other side of the screen, we can see various options which provide the following functions:

  1. The three icons here allow you to select the type of chart you want: bar, candlestick or line chart
  2. “Crosshair” - this allows you to easily read values on the chart
  3. Indicators - choose from 30 technical indicators to add to your price chart
  4. Objects - add lines, channels, Gann lines, Fibonacci retracement and many other objects to your chart
  5. Turn on one-click trading
  6. Settings

Depicted: Admiral Markets MetaTrader 5 App - GBPUSD H1 Chart - Moving Average and Stochastic Oscillator. Date Range: 30 December 2020 - 6 January 2021. Date Captured: 6 January 2021. Past performance is not necessarily an indication of future performance.

Placing Trades

When it comes to placing a trade, there are three options of how to do so. 

  1. From the “Quotes” tab click on the instrument you wish to trade on
  2. In the “Chart” tab, turn the screen to a vertical view and click on the chart to open a trade 
  3. Turn on one-click trading using the button highlighted in the previous section

If you place a trade using 1 or 2, you will be presented with a new order screen, as shown below, where you can select the type of order you wish to make from the drop down, the size of the position and set a take profit and stop loss.

Depicted: Admiral Markets MetaTrader 5 - GBPUSD - New Order. Date Captured: 6 January 2021.

One-Click Trading

Below is an image of a price chart with one-click trading turned on. In order to place a trade, you simply need to enter the lot amount in the middle of the bar and then click buy or sell, to execute a trade at the current market price. 

The first time you use this function, you will be prompted to give permission to the app for one-click trading.

Depicted: Admiral Markets MetaTrader 5 App - GBPUSD H1 Chart. Date Range: 30 December 2020 - 6 January 2021. Date Captured: 6 January 2021. Past performance is not necessarily an indication of future performance.

Managing Your Trades

The last function of the MT5 app we will look at is the “Trade” tab, which shows you information about your account balance and your current positions in the market, as shown in the image below.

Depicted: Admiral Markets MetaTrader 5 App - Trade Tab

From this screen you can easily see each position you currently hold together with its respective profit or loss (with the total displayed at the top of the screen). As well as this, you can also view your account balance, equity, margin, free margin and margin level percentage.

Clicking on one of your positions will allow you to close it, modify it or open another trade on the same instrument.

Final Thoughts

You should now have a good understanding of how user friendly mobile trading is with the MT5 app, which allows you to trade a variety of instruments, including Forex and stock CFDs, from anywhere!

If you already have a trading account with Admiral Markets, you can download the app and start mobile trading straight away! If you are new to trading, or just want to practice whilst getting used to the MT5 mobile app, it might be a good idea to trade with a demo account before heading to the live markets. 

Trade Risk-Free With an Admiral Markets Demo Account

With a demo account from Admiral Markets, you can practice trading using virtual currency before risking your capital on the live markets! Click the banner below to open an account today:

About Admiral Markets

Admiral Markets 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 FX 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.

 

Roberto Rivero
Roberto Rivero Financial Writer, Admirals, London

Roberto spent 11 years designing trading and decision-making systems for traders and fund managers and a further 13 years at S&P, working with professional investors. He has a BSc in Economics and an MBA and has been an active investor since the mid-1990s