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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Uncategorised MT5 Desktop User Guide 

MT5 Desktop User Guide 

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MT5 is structured around four key areas you need to understand to operate the platform proficiently: the Market Watch, the Navigator, the Chart Panel, and the Toolbox. This guide will walk you through each of these sections in detail to help you navigate and ultimately master MT5. 

All navigation tools and guides are already included within the MT5 software once you’ve set it up, so there’s nothing extra required. Our full, comprehensive guide can also be accessed within your MT5 platform under the “Help” tab. If you’re in any specific section of MT5 and press “F1” on your keyboard, you’ll be taken directly to the relevant section of the user guide. 

Market Watch 

The Market Watch panel provides a full overview of all active financial instruments, displaying quotes, price statistics, and tick charts in a tabular format. It offers a snapshot of market activity within your account. 

Key Features: 
  • Right-click on any instrument for quick options like opening a new chart, placing a new order, or viewing its specification (spread, contract size, margin requirements). 
  • You can customise which instruments are visible by selecting the “Symbols” option from the right-click menu. 
  • The Depth of Market tool can be accessed here, giving you insight into market liquidity and available prices for specific assets. 

For more comprehensive navigation through the Market Watch section, click here. 

Navigator Panel 

The Navigator is your control hub, displaying accounts, indicators, expert advisors, and scripts. This panel is structured like a tree, allowing you to easily expand and explore various options related to your account setup. 

Key Features: 
  • Under Accounts, you can manage multiple accounts, logging in or out with ease, and even switch between live and demo accounts. 
  • Indicators can be dragged directly onto a chart for quick technical analysis. 
  • Expert Advisors (EAs) can be easily managed from here. Activate or remove them as per your strategy. 

Click here to explore the Navigator Panel in more detail. 

Chart Panel 

The Chart Panel is where you can analyse price data for any active financial instrument. You can set up multiple charts, customise timeframes, and add technical indicators or expert advisors. Charts can also be docked or moved across monitors for enhanced usability. It’s a highly interactive area where you can draw and customise your analysis. 

Key Features: 
  • Right-click on the chart to quickly change timeframes, chart types (candlestick, line, bar), or to add indicators. 
  • You can save chart templates with specific settings (indicators, colours, timeframes) to reuse for future analysis. 
  • The One-Click Trading feature is available on the chart, allowing you to open, modify, or close trades directly from the chart view. 
  • MT5 allows the use of multiple timeframes, from 1-minute charts to monthly charts, to suit both day traders and long-term investors. 

Click here to delve further into how to use the chart panel.

Toolbox 

The Toolbox is essentially your trading terminal. It shows essential trading details like your open trades, balance, equity, and free margin. It also serves as your activity log, with a History section that allows you to run and download reports. 

Key Features: 
  • Trade Tab: View open positions, pending orders, and modify them directly from here. You can also track your account’s real-time performance (profit/loss, margin usage, etc.). 
  • History Tab: Run performance reports over custom time periods, including detailed data on closed trades, deposits, withdrawals, and commissions. You can export these reports in various formats (e.g., HTML, CSV). 
  • Alerts Tab: Set custom price alerts for any instrument, receiving notifications when price thresholds are reached. 
  • Signals Tab: Subscribe to trading signals from experienced traders and automate your trading based on their strategies. 
  • Calendar Tab: Access the economic calendar, which displays upcoming key economic events that might affect market conditions. 
Extras: 
  • Order Types: MT5 offers a variety of order types, including market, limit, stop, and stop-limit orders, providing flexibility in your trading strategy. 
  • Hedging Mode: MT5 supports hedging, which allows you to open multiple positions on the same financial instrument in different directions (buy and sell). 
  • Expert Advisors: MT5 enables automated trading through Expert Advisors (EAs), which can execute trades on your behalf based on pre-programmed algorithms. This is an excellent tool for traders who want to automate their strategies. 

Shortcut Keys: 

  • Ctrl+T: Open/close the Toolbox. 
  • Ctrl+M: Open/close the Market Watch. 
  • Ctrl+N: Open/close the Navigator. 
  • F9: Open the trading order window to quickly place a trade.
  • Alt+W: Switch between chart windows.  

This guide provides you with essential steps to navigate and make the most out of the MT5 platform. For deeper exploration, always refer to the “Help” tab or press “F1” while using the platform for immediate assistance. Happy trading!