How to add crypto to mt5 ？

Modern financial market research methods involve investing in financial assets (in particular, forming a securities/assets portfolio), which is carried out based on thorough analysis. At the moment, it's possible to find many valuable tools for traders, which in one way or another, facilitate the process of trading or preparing a setting for this trade. To fully automate the process of transactions and portfolio management and completely eliminate psychological factors in trading decisions, the best way out would be to transfer the routine work to automatic trading systems. Nowadays, the best tool that provides excellent opportunities to trade in all financial markets is the unique multi-market platform MetaTrader 5 (MT5).

What is MT5？

MT5 is a professional, multi-market platform for trading Forex, stock, and futures exchanges. Compared with MT4, the MT5 trading platform is a more advanced version with extensive functionality and possibilities for crypto trading. This version has included all the best features for comfortable trading and provides an incredibly large set of tools to help you make your trading strategy more flexible and sophisticated. Among them are: indicators and graphical objects for technical analysis, software for expert advisors, additional pending orders, depth of market indicators, multicurrency strategy tester, virtual hosting, and more. Moreover, the MT5 terminal is multiplatform and is not connected to a desktop computer. With the MT5 mobile applications for Android or iOS, traders can trade from anywhere with Internet access.

In 2010, MetaQuotes Software introduced the MT5 trading platform to replicate the success of the MT4 platform. While many in the online trading industry thought that the MT5 trading platform would be an MT4 upgrade, this was not the case. The MT5 trading platform was designed to serve markets not only limited to Forex but also including commodities, stock market, futures market, and the increasingly popular cryptocurrency market.

Why Use MT5 to Trade Cryptocurrency？

The MT5 multi-market professional system allows trading on crypto exchanges using various tools. It can also be used to perform technical analysis of quotes, work with algorithmic trading programs (trading robots), and copy trades of other traders. Below are all the main advantages that make this system an ideal solution for crypto trading.

Flexible trading systemThe MT5 features a robust trading system with a price deck and separate accounting of orders and trades. Two order accounting systems are available to you: traditional netting and hedging. You can use four execution modes depending on your goals: immediate, on-demand, on-the-market, and exchange. You also have all kinds of orders at your disposal, including market orders, pending and stop orders and trailing stops.Professional technical analysisTo track the state of cryptocurrency liquidity, you can use technical analysis tools. You can open up to 100 charts with quotes of crypto assets simultaneously. The 21 time periods allow you to study each of them in detail and notice price movements in a good time. Also, more than 80 technical indicators and analytical tools significantly help analyze the market.Fundamental analysisIn order to forecast the price dynamics of cryptocurrencies, you can additionally use fundamental analysis tools. Its meaning lies in studying various economic indicators of any single crypto asset from open sources on the Internet.

Trading signals and Copy TradingIf you don't have enough time to trade on your own, you can follow the signal of a successful trader — and your platform will automatically copy all his trades. All you need to do is subscribe to a good trader of your choice in a few clicks, and your crypto trading platform will trade without your participation.Algorithmic TradingOne of the strongest features of your MT5 is algotrading. This is automatic trading with the help of special applications — trading robots (or trading advisors). They operate without the trader's participation, analyzing prices independently and having trading operations in accordance with the algorithm embedded in them.

Moreover, you can implement your own trading strategy in your own trading robot and eliminate the routine market analysis and trading. MT5 provides a whole environment for independent development, testing, and optimization of MT5 crypto trading robots. The included MQL5 programming language allows you to create Expert Advisors with high calculation speed for more accurate analysis and prediction.

Trading Cryptocurrencies on MT5

MetaTrader 5 (MT5) trading platform is one of the most popular trading platforms in the financial industry and is used by millions of traders across the globe for trading Forex, stocks, metals, equity indices, commodities, cryptocurrencies and futures. Through time, it has become the platform of choice for both traders and cryptocurrency enthusiasts. Traders now have the opportunity to trade Bitcoin, Ethereum and a large range of other cryptos as part of the asset suite on the MT5 platform, enabling them to be part of the cryptocurrency trend. Brokers are also benefiting from increased revenue opportunities as the interest in crypto continues to grab the headlines for reaching levels not seen before in Forex.

Why MT5？ So why is MT5 so popular？ There are many reasons. For a start, it can manage multiple asset classes, it is FIX compliant and has applications for desktop, as well as mobile (iPad & Android). Furthermore, it makes use of trading algos and automated bots which can help maximize profits while minimizing manual input. Traders are also able to download free applications from the market. This is particularly useful for beginners who wish to better understand the principles of algorithmic trading and choose robots that best compliment their trading strategy.

Built-in market analysis tools with dozens of technical indicators and analytical objects which can be used to gauge the best times to buy or sell for profit.

A trader can profit from upwards or downwards cryptocurrency price movements and potentially profit by selling (going short) when prices are falling and by buying (going long) when prices are rising.

As cryptocurrencies are highly volatile assets, they present many trading opportunities for traders.

Cryptos can be traded on an intraday, swing trading or position trading basis. Scalping and hedging is also possible.

The mobile app supports trading functions 24/7 and provides analytical capabilities as well as enabling traders to monitor their account status and view their trading history.

How to Trade Cryptocurrencies on MetaTrader 5

To start trading cryptocurrencies you should follow these steps:

Open an MT5 account with your broker.

Using your credentials, log in to your MT5 platform.

After opening the platform and logging in, right-click on the Market Watch window and select the ‘Symbols’ tab.

Select ‘Crypto’ from the list of assets in the ‘Symbols’ window. Click against each cryptocurrency symbol, then click ‘Show’ to include the cryptocurrency pairings to the Market Watch window.

The cryptocurrency pairing is now available for trading.

Cryptocurrency trading usually comes with its own contract specifications which will be stipulated by your broker.Trading cryptocurrencies on MT5 is therefore a straightforward and attractive option thanks to the number of benefits offered. It is also possible to get involved in the cryptocurrency business and trying to generate revenue by exchanging cryptocurrencies for cash via an exchange. The principle is to buy Bitcoin, for example, at a lower price and resell it for fiat currencies at a higher price. This alternative method of trading also offers advantages, although it can present a higher risk than trading on MT5 as there is no way of knowing when the price of cryptocurrency will be low enough to buy or high enough to sell. Cryptocurrencies are highly volatile assets, so it is arguably easier to sustain losses using this approach.

Furthermore, it can take some time to confirm transactions. During this window period, the price of cryptocurrency may change and could move adversely against you.

Buy or sell bitcoin？ MetaTrader 5 can help

Currency and energy markets largely depend on daily developments worldwide.

The fact that cryptocurrencies do not rely on such a factor is their main advantage. Moreover, digital assets do not have state or central regulation.

The most popular virtual currencies are bitcoin (BTC), ether (ETH), and ripple (XRP). Bitcoin enjoys the greatest demand among them all. The coin appeared in the market first.

BTC trading can be carried out through crypto exchanges, funds, and CFDs.

To trade the coin directly, you must be registered on the exchange and have a digital wallet. However, there are still certain risks of being hacked.

A CFD broker offers intermediate and safe trading. That is, positions are opened based on price forecasts.

Another option would be trading BTC against currencies. For example, US Dollar/Bitcoin (USD/BTC).

It is important that you understand the fact that crypto trading poses certain risks of losing funds.

When entering the market, use technical and fundamental analysis tools. They are available on the MetaTrader platform.

What crypto trading app to choose？

Using modern mobile apps, you can trade anytime, anywhere.

Nowadays, there are enough such apps available for Android and iOS.

Choose an app based on the following requirements:

Speed. Prices in the crypto market can change in a matter of seconds. Therefore, the app should react to price changes immediately and display the current exchange rates.

Usability. Users value easy and user-friendly apps. Nobody needs complex functionality.

Consistency. Users also prize reliability as well as download and data display speed.

Variety of assets. Having access to a wide range of trading instruments is important.

Here is the list of most popular crypto trading apps:

Binance: more than 200 crypto assets, suitability for both beginners and savvy traders, effective user data protection

Coinbase: despite having a smaller number of assets than Binance, the app offers its users better protection of personal data and provides access to training materials for beginners.

WazirX: one of the most dynamic apps with access to the main digital currencies, instant transaction execution, and a high level of protection of user data and assets.

Betconix: a stable and high-speed multilingual app with access to the most popular cryptocurrencies, dynamic charts, and other trading tools.

EXMO: the app saves trading history and tracks past price fluctuations. It has a live chat for users to communicate. The app runs in Russian and English only, which is its main disadvantage. At the same time, it has strong technical support.

Best platform for crypto trading

The following criteria should be considered when choosing a platform for crypto trading:

Popularity. The more users trust the platform, the better.

Regulation. Licensing by a state regulatory body shows the exchanges serious intentions.

Reputation. It's better to know about scandals, information leaks, or hacker attacks in advance

High trading volumes

User-friendly interface

Extended operation period

Trader identity verification

Mobile app available

Impeccable technical support

Wide range of trading instruments

Commissions on deposits/withdrawals

Platforms also have options other than trading cryptocurrencies.

Staking is a way of passively increasing income by storing coins on the exchange. Trading platforms also provide landing and saving possibilities.

Tokenized stock trading is now available on some exchanges. Such stocks include Apple, Tesla, Facebook, etc.

Here is the list of trading platforms proven to be the best in the market:

Binance: one of the most popular platforms with a user-friendly interface and a great number of options, including staking, as well as spot, futures, currency trading, and so on.

Currency.com: a trading platform licensed in Belarus with over 1,500 trading assets and low commissions. Deposits/withdrawals are available with bank cards. It is considered one of the best platforms in the CIS.

OKEx: a platform for spot and futures trading, with internal transfers and comprehensive account protection.

AVAtrade: a platform licensed by six regulatory bodies at once, with a turnover of more than $60 billion dollars, a wide choice of crypto assets, and privileges for EU residents.

Capital: a platform with a vast array of CFDs and no commissions for cryptocurrency trades. It is regulated by the CySEC and the FCA. The platform is suitable for beginner traders with small capital.

Best indicators for cryptocurrency trading

Understanding developments in the market is the key to success in trading crypto. For such purposes, traders turn to technical and fundamental analyses.

Fundamental and technical indicators correlate with each other, though they have different effects on the market.

News can have an impact on fundamental indicators. Technical indicators reflect the correlation between the demand and price of cryptocurrencies.

Factors for crypto analysis are universal. They are based on mathematical methods for calculating readings on all trading floors. The input is either the value of an asset or the trading volume.

There are several crypto market features:

high volatility: prices can change in a matter of seconds

price gap patterns

Not all indicators are suitable for analyzing crypto.

Support and resistance, Moving Averages, Oscillators, Ichimoku Cloud, and trading volumes help traders analyze the crypto market more effectively than other tools.

Support and resistance (key levels) are basic tools all traders must know how to use. Support refers to a level that the price has difficulty falling below. Resistance reflects a level that the price has difficulty rising above.

Moving Averages are perhaps the most commonly used indicators. They determine an average price of an asset over a specific period of time. To do this accurately, the strength of a trend should be taken into account. The indicator is also used to find support and resistance.

Oscillators show price deviation from the average value. They help determine a trend when the price movement is unclear. Sometimes, however, they can make inaccurate signals. Therefore, they should be used in combination with the two above-mentioned indicators.

Ichimoku Cloud is a moving-average-based indicator. Clouds – zones indicating an uptrend or a downtrend – are formed between the MAs on the chart.

Trading volumes. The higher the indicator, the more actively an asset trades over a specific period of time. The indicator does not reflect a complete picture of the market. It must be compared with the chart to understand the situation better.

Not sure if crypto trading is right for you？ Try demo crypto trading first

This is both an advantage and a disadvantage of a demo account. The good thing is that a trader can learn to trade without risking their own savings. The downside is that demo trading resembles a computer game. It is definitely not an online trading simulator.

Demo trading should be taken seriously as it can cause addiction to excessive and unjustified risks.

A demo account can be useful for both beginners and professionals. It can help test a new strategy or try out a new instrument.

Novice traders should begin with a demo account but take it as a live one. Moreover, it is important that they trade the exact amounts they have in live accounts.

On a demo account, you need to make mistakes in order to fully understand all possible risks and develop a certain trading algorithm that can later be used with real money.

When switching from a demo account to a live one, you should work with small amounts at first. This way, of course, you will not be able to earn much but will not lose much as well.

Your primary goal is to double your deposit. After reaching the goal, you can place higher bets.

How to start trading bitcoin？

Catch up on theory: read related materials and listen to recorded lectures or webinars. Experienced traders often develop their own trading courses.

Study the basics of fundamental and technical analysis. This will help you understand developments in the crypto market and foresee them.

Learn about various strategies of market behavior. For example, an averaging strategy involves dividing the total amount to be invested.

Here is what traders should and should not do:

Control emotions and make cool-headed decision

Be careful with buy/sell signals from Telegram and social networks

Don't trade based on the news. If there is an event affecting bitcoin, most likely, it has already happened.

Don't be greedy. If BTC is on the rise, it is better to sell some of the coins and place a stop-loss order. A stop-loss order is an order to sell bitcoins at a certain price.

Don't use trust management. If you do, sign a notarized trust management contract.

Dont trade with your last or borrowed funds. It should be your money that you can afford to lose in case of failure.

Never stop improving your skills. Record all your trades for later analysis.

Admit losses and close trades you are unsure of.