How to Trade in the MT5 Android Mobile App

How to Trade in the MT5 Android Mobile App


How to Trade in MT5

Watch the video on how to start trading on the MT5 Android mobile app or look through the steps below. MetaTrader 5 for Android lets you trade whenever and wherever you like. To trade Forex on the go, first you need to download the mobile application.


Log in to your existing OctaFX MetaTrader 5 account

  • Open the app and add a trading account by tapping a + icon in the top right corner.
How to Trade in the MT5 Android Mobile App
  • Then you need to connect to a broker. Type OctaFX in the search box to find our servers. Find the server name in your account credentials. Depending on whether this is a demo or real, it will be OctaFX-Demo or OctaFX-Real.
  • Next, you’ll need to enter further credentials: the account login (its number) and password.


Start trading on MetaTrader 5 for Android

Once you’ve logged into MetaTrader 5 for Android you can start trading! The Quotes tab is where you’ll find the list of pairs available to trade, with their ask and bid prices.The ask price is used for buying a currency and the bid is used for selling a currency. The ask price is always higher.

To open an order you need to press the currency pair you want to trade, then choose New Order.
How to Trade in the MT5 Android Mobile App
In the window that opens, you’ll need to choose the volume of your trade by entering a lot size. Decide whether you wish to buy or sell the asset. The order will be opened immediately after you tap on either the Sell or Buy button.

After opening the trade you’ll be redirected to the Trade tab, where you can see your open orders.

To close or manage a trade, you need to press and hold it in the list for a second. Then you’ll see the options Close Position or Modify Position. After you press the Close button, your trade will be closed, and your profit will be credited to your account balance.
How to Trade in the MT5 Android Mobile App
Tap the currency pair and select the Chart option to open the Chart tab and inspect the chart. You can rotate your screen to view charts more clearly. You can open trades from this tab by tapping the Trade button.
How to Trade in the MT5 Android Mobile App
We recommend you get familiar with the options available in MetaTrader 5 for Android. This way you can trade Forex at any time, in any place!

To find out more about Forex trading, please follow the article on how to start trading.

MT5


How do I log into MetaTrader 5 with my account?

Open MT5, then click "File" — "Login with trading account". In the pop-up window, enter your account number, trader password and select "OctaFX-Real for real accounts or "OctaFX-Demo" if you want to log in with a demo account.
 


Why cant I log in?

Check the last entry in the “Journal” tab to find out the exact reason: “Invalid account” means that some of the credentials you entered upon login are incorrect - it could be account number, password or the trading server. Double check your access data and try to sign in again. “No connection to OctaFX-Real” or “No connection to OctaFX-Demo” indicates that your terminal is unable to establish a connection with the nearest access point. Check if your internet is working, then click on the connection status and select “Network rescan”. if the issue persists, please get in touch with our customer service.
 


How do I open an order?

Press F9 on your keyboard or click the “New Order” button from the standard toolbar. Alternatively, you can right-click on an instrument in the Market Watch and select “New Order” from the context menu. In the “New Order” section, youll be asked to select the symbol you wat to trade, type of order and volume. Having set all necessary parameters, click the “Buy” or “Sell” button below, depending on the direction you want. Go to ToolsOptionsTrade. Here you can enable one-click trading, allowing you to open positions with pre-selected parameters directly on the chart. To activate the One-Click Trading panel, open a chart of the instrument youre trading and press ALT+T on your keyboard. The One Click Trading panel is also available in the “Trading” tab of the Market Watch.
 


What order types are available in MT5?

MT5 offers several order types: Market order — an order to open a position at the current market rate. A market order can be placed via the "New Order" window or One-Click-Trading panel. Pending order — an order to open a position once the price reaches a certain predefined level. The following pending order types are available in MT5: Limit orders are placed below the current bid (for long positions) or above the current ask (for short orders). Stop orders are placed above the current bid (for buy orders) or below the current ask (for sell orders).

In order to place a stop or a limit pending order, you need to select “Pending Order” in the “New Order” window, specify its type and direction (i.e. Sell Limit, Sell Stop, Buy Limit, Buy Stop), the price it should be triggered at, volume and any other parameters if required.

Alternatively, you can right click on the desired level on the chart and select the type of pending order you would like to open. The order will appear in the “Trade” tab under the account balance, equity and free margin. A Stop Limit order is a combination of previously described types. It is a pending order which becomes a Buy Limit or Sell Limit once the price reaches your stop level. In order to place it, you need to select “Buy Stop Limit” or “Sell Stop Limit” type in the New Order window.

Then simply set the "Price" or the "Stop price" (the level at which the limit order will be placed) and the “Stop Limit price” (the order price for your limit level). For short positions, the Stop price should be below the current bid and the Stop Limit price should be above the Stop price, while in order to open a Long position you need to set the Stop price above the current ask and the Stop Limit price below the Stop price.

When placing a pending order, it is important to take into account that each trading instrument has a certain Stop level, i.e. the distance from the current market price at which a pending order can be placed. To check the level, find the trading tool you want in Market Watch, right-click it and select “Specifications”.
 

How to set Stop Loss or Take Profit?

Find the position you would like to set a Stop Loss or a Take Profit on, right-click on it and select “Modify or delete” from the context menu. In the pop-up window, set the desired level of your order. Keep in mind that for a short position you can set a Stop Loss above and a Take Profit below the current ask price, while when modifying a long position you should place the Stop Loss below and Take Profit above the current bid.
 


How to close a position?

Find the positions you want to close in the “Trade” tab, right click it and select “Close position”. Depending on whether One-Click-Trading is enabled, it will either be closed right away at the current rate, or a Position window will appear, where you will be required to confirm the instruction by clicking “Close” button.
 


Why am I unable to open a position?

If you are unable to open a “New Order” window and “New Order” button on the toolbar is inactive, you have signed in with your investor (read only) password. In order to trade please use the trader password when you log in. Inactive “Sell” and “Buy” buttons in the “New Order” window indicate that the volume you specified is invalid. Please bear in mind that minimum volume is 0.01 lot, and step is 0.01 lot. A “Not enough money” error message means that your free margin is not sufficient to open the order. You may need to adjust the volume or deposit to your account. A “Market is closed” error means that youre trying to open a position outside the instruments trading hours. You can check the schedule in the symbol “Specifications” or on our website.
 


How can I check my trading history?

You can find all closed positions in the “Account history” tab. The trading history is comprised of orders (i.e. the instructions you send) and deals (the actual transactions). From the context menu you can select which operations should be displayed (orders, deals or deals and order or positions), and filter them by symbol and period.
 


How can I add an EA or a Custom Indicator to MT5?

If you have downloaded an EA or Indicator you need to go to FileOpen data folderMQL5 and copy the .ex5 file into “Experts” or “Indicators” folder. Your EA or Indicator will appear in the “Navigator” window. Alternatively, you can download and add it in the “Market” tab right from the platform.
 


How can I open a chart?

In order to open a chart you can simply drag and drop a trading tool from “Market Watch” to the chart window. Alternatively, you can right-click a symbol and select “New chart”.
 


How can I customise a chart?

You can change periodicity, scale and switch between chart types on the standard toolbar. If you would like to change colours, add or remove Bid and Ask lines, Volumes or Grid, right click the chart and select “Properties” from the context menu.
 


How can I add an indicator to a chart?

Find your indicator in the Navigator window and drop it to the chart. Modify its parameters in the pop-up window if required and click “OK” to apply the changes.
 


How can I launch an EA?

Drag and drop your EA from the “Navigator”. Set the parameters if required in the expert window and click “OK” to apply the changes.
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