Opening a MetaTrader 5 Account (Real & Demo) Instructional Guide

MetaTrader 5 (MT5) is a well-known trading platform created by MetaQuotes Software. It offers traders advanced charting tools, flexible order types, algorithmic trading, and access to real-time market data, across multiple markets, including Forex, stocks, indices, and commodities. 

An MT5 account offers two main options: 

• MetaTrader 5 demo account - a practice account with virtual money. 
• MetaTrader 5 live (real) account - a live (real) trading account with actual capital. 

This guide explores both options, starting from account setup to logins, deposits, and navigation. The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions 

Step 1: Choose a Regulated Broker That Supports MT5 

To use MetaTrader 5, you need a broker that provides the MT5 platform. But not all brokers are the same. Here are a few things to look for when choosing an MT5 broker: 

• Regulation by reputable governmental financial authorities.
• Transparent materials regarding fees, spreads and commissions. 
• Account diversification with the ability to open demo and live accounts. 
• Support and educational resources for both beginners and experienced users. 

Quick checklist for broker selection: 

• Is the broker licensed in your jurisdiction? 
• Is MT5 available on your preferred device (desktop, web, mobile)? 
• Are spreads and commissions clearly communicated? 
• Are educational materials and customer support available? 

Step 2: Downloading and Installing MetaTrader 5 

Once you select a broker offering MT5 demo and live accounts, download the platform. The process remains the same for either account type: 

1. Visit your broker’s website. 
2. Navigate to their “Platforms” or “Download” section. 
3. Select MetaTrader 5 for your device - Windows, macOS, Android, iOS, or the web browser version. 
4. Run the installation and follow on‑screen prompts. 
5. Launch MT5 and prepare to log in with your account credentials. 

If you're a Mac user, consult your broker’s instructions. Some brokers offer access to third-party software like Parallels which allows you to run Windows applications on mac OS. 

MetaTrader 5 Platform Comparison

Step 3: Opening a MetaTrader 5 Demo Account 

An MT5 demo account is a useful way to practice trading for beginners. It allows traders to use virtual funds in live market conditions, offering the ability to: 

• Learn how to use the platform tools like charting, placing orders, and closing positions. 
• Test strategy conditions, like stop-loss and take-profit order placement. 
• Evaluate performance in a simulated environment to build confidence before moving to a live account. 

How to open a demo account: 

1. Go to your broker's website and locate “Demo Account” or “Practice Account.” 
2. Fill out a registration form - name, email, country, telephone and password. 
3. The broker will email: 
   1. Account login ID 
   2. Server name 
   3. Demo password 
4. Open MT5, click File → Login to Trade Account, then enter the demo login details. 
5. Click Finish to start trading with your demo funds. 

Step 4: Opening a Real (Live) MetaTrader 5 Account 

Once you've gained familiarity and confidence in the demo environment, you may choose to open a MetaTrader 5 live account. This means trading with real funds. However, live trading carries real financial risk. 

How to open a live MT5 account: 

1. Log in to your broker’s client portal or Dashboard. 
2. Locate "Open Live Account". 
3. Complete registration and verification forms.  
4. Read the terms and conditions and risk disclosure documentation. 
5. Await verification. 
6. If approved, the broker will email: 
   1. Live account login ID 
   2. Password 
   3. Server name 
   4. Deposit options 

Step 5: Logging Into Your MT5 Account 

Whether demo or real, logging into MT5 is the same: 

1. Open MetaTrader 5. 
2. Navigate to File → Login to Trade Account. 
3. Select the server associated with your account (e.g., AdmiralsGroup-Demo, AdmiralsGroup-Live). 
4. Enter: 
   1. Login ID 
   2. Password 
5. Click OK. 
6. Once connected, your balance, equity and free margin appear in the Trade tab. 

Once logged in, you can view charts, place orders, and track trades. 

Step 6: Funding/Withdrawing From Your Live MT5 Account 

After account setup, you may want to deposit real funds. Typically, the broker's client portal or Dashboard will provide the deposit and withdrawal options. This will include the methods (bank transfer, credit/debit card, e-wallets), and the time it takes to process. Some brokers charge deposit or withdrawal fees, and processing times may vary based on the method used. 

Step 7: Key MT5 Platform Navigation 

Now that your account is funded and ready, familiarise yourself with MT5: 

• Market Watch: Lists live instruments and prices across multiple asset classes. 
• Navigator: Shows accounts, indicators, expert advisors, and scripts. 
• Toolbox: Displays tabs for Trade, Exposure, History, News, Mailbox, Calendar, Company, Alerts, Articles, Code Base, Experts and Journal.  
• Charts: Multiple timeframes, indicators, drawing tools and chart types are available. 
• Order Types: These include Market orders (instant execution), Limit/Stop orders, take-profit and stop-loss, trailing stops.

6 Tips for Demo and Live Trading 

1. Master MT5 with a demo account, start with virtual funds to build confidence. 
2. Advance gradually to live trading, using small capital to understand the emotions of winning and losing. 
3. Apply robust risk management by keeping risk small and always using stop-loss orders.  
4. Keep a trading journal to log entry/exit points, strategy performance, and psychological learnings. 
5. Educate yourself by watching live webinars and reading educational articles. 

Watch this video to learn more about paper trading vs live trading. 

8 Steps to Get Started 

Other articles you may find interesting:

• The Ultimate MetaTrader 5 Guide
  
• Mobile Trading With the MetaTrader 5 App
• MetaTrader 4 vs MetaTrader 5

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