FREQUENTLY ASKED QUESTIONS
MT5 is a trading platform that offers sophisticated charting and technical analysis, as well as coding through an IDE (Integrated Development Environment) which allows traders to code their own technical studies and trading robots. MetaTrader 5 also has a community of traders and resources that allow you to learn how to take advantage of these features
Can I trade Forex or Futures with MT5?
While MT5 is a multi-asset platform that allows trading forex, stocks and futures, Lime Trading only offers equities including stock and ETF trading on MT5 at this time.
How can I open an account with Lime Trading?
Follow the link to https://open.lime.co, fill out an account application form, attach the required documents and follow further instructions in the application form.
How do I start trading on MT5 with Lime Trading?
For the PC version of MT5, what are the minimum requirements?
The minimum system requirements for using Lime Trading MT5 on your PC:
- Windows 7 Operating System or higher (64-bit system recommended)
- Pentium 4/Athlon 64 processor or higher (All modern CPUs should be able to support this)
Consider more powerful hardware if you notice performance degradation with your usage. For example, if you notice slowness when opening multiple charts and utilizing multiple chart studies, you may benefit from more powerful hardware.
How do I place an order on MT5 with Lime Trading?
There are several ways to place an order on MT5 with Lime:
- Click on Tools on the Menu bar. Then select ‘New Order’
- On the Market Watch window, double click on the asset you wish to trade (you can also right-click on your desired asset and then select ‘New order’)
- Right-click on the Trade tab on the lower terminal and select ‘New Order’
- Press F9 for one-click trading on the chart of your favorite asset
When any of the above options are applied, the ‘Order Screen’ will pop up. The screen will have a tick chart on its left side and customizable order details on the right. The tick chart displays the bid and ask prices, and allows you to visualize the real-time spread (the difference between the bid and ask prices). The order details on the right are:
- Symbol:This is the ticker symbol for the stock you wish to trade.
- Order Type:You can choose between Market and Limit order types.
- Volume:This is the quantity in shares that you wish to trade.
- Stop Loss and Take Profit:You will be able to attach server held Stop Loss and Take Profit orders to your trades. Stop loss orders help curb your maximum loss when the price moves against you, while take profit orders allow you to book profits when the price moves in your favor.
- Comment: You can add any notes regarding a trade in the comment section. This is ideal for traders that keep notes to document their trading decisions.
How to acquire a trading robot for MetaTrader 5?
MetaTrader 5 offers the ability to do Automated Trading or Algorithmic Trading via a set of features. You can code your own strategies or indicators using MT5’s MQL IDE (Integrated Development Environment). These applications are referred to as trading robots. The programs can analyze quotes, as well as send orders to the market. You can take advantage of trading robots, even if you do not have any programming background. MetaTrader 5 provides MetaTrader5 Market, a marketplace that where traders can buy, sell, rent or lease robots. You can even hire a developer to write a custom robot.
What Technical Analysis can you do with MT5?
Technical analysis is the study and analysis of past trading activity, using historical price and volume information. This is done visually using charts, sometimes incorporating chart studies or Indicators, looking for trends or patterns. Indicators are mathematical tools that help traders understand price action. Indicators are applied automatically on MT5 charts, and for your convenience, they have been classified into various groups that denote their application. These groups include:
- Bill William’s tools
- Custom indicators
To further allow you to analyze charts, MetaTrader 5 allows you to notate charts using drawing tools, such as geometric shapes, channels, Gann tools, as well as Fibonacci and Elliot wave tools. There is also the option to add your own custom tools on the MT5 platform, utilizing the included IDE and MQL5 language to code your own chart studies.
What does the economic calendar show on MT5?
There are inbuilt tools that can be accessed directly from the platform, and these include an Economic Calendar. The Economic Calendar shows forecasts and real-time releases of major economic and political events that are likely to have an immediate impact on financial assets. The mobile Economic Calendar version is available in 9 different languages, and it supports alerts so that traders can be notified of their preferred economic events and releases. MetaTrader 5 is a 3rd party product of MetaQuotes. MetaTrader 5 is available within the Lime Trading platform. Additional fees may apply.