How to Trade on the Mobile MT5 Platform

Trading in the forex market has become easier than ever, thanks to platforms like MetaTrader 5 (MT5). With MT5’s mobile application, traders can buy, sell, and manage trades directly from their smartphones. Whether you are a beginner or an experienced trader, understanding how to use the MT5 mobile platform is key to your success.

In this article, we’ll explain what MT5 is, how to buy and sell on the mobile app, and how to set Stop Loss (SL) and Take Profit (TP) levels to manage your risk effectively.

What is MetaTrader 5 (MT5)?

MetaTrader 5 (MT5) is a multi-asset trading platform widely used by forex and CFD traders. It’s the upgraded version of MetaTrader 4 (MT4), offering more advanced tools, faster execution, and improved features.

Key features of MT5:

Supports forex, stocks, and CFDs.
Advanced charting and technical analysis tools.
Multiple order types and execution modes.
Available on desktop, web, and mobile apps (Android & iOS).

For traders on the go, the MT5 mobile platform is especially convenient because it allows you to monitor markets, open trades, and adjust positions anytime, anywhere.

How to Buy and Sell on the MT5 Mobile Platform

Here’s a step-by-step guide:

1. Download and Login

Download the MetaTrader 5 app from Google Play Store or Apple App Store.
Login with your broker account details.

2. Choose a Currency Pair

Tap on the Quotes section.
Select the currency pair you want to trade (e.g., EUR/USD).

3. Open a New Order

Tap on the currency pair and select New Order.
Choose Market Execution (for immediate trades) or Pending Order (for future trades).

4. Buy or Sell

To profit from a rising market, click Buy.
To profit from a falling market, click Sell.

Example: If you believe EUR/USD will go up, you place a Buy order. If it goes up by 50 pips, you make a profit depending on your lot size.

What is Stop Loss (SL) and Take Profit (TP)?

Stop Loss (SL): An automatic instruction to close a trade when the market goes against you, limiting your loss.
Take Profit (TP): An automatic instruction to close a trade when the market reaches your desired profit target.

These tools protect your account and ensure you don’t have to monitor trades 24/7.

Example:

You buy EUR/USD at 1.1000.
You set your Stop Loss at 1.0950 (risking 50 pips).
You set your Take Profit at 1.1100 (targeting 100 pips).
If price falls to 1.0950, MT5 automatically closes the trade, limiting your loss.
If price rises to 1.1100, MT5 closes the trade with profit.

How to Add Stop Loss and Take Profit on MT5 Mobile

Method 1: While Opening a Trade

On the New Order screen, before clicking Buy or Sell:
- Enter your SL (Stop Loss) price.
- Enter your TP (Take Profit) price.
Then click Buy or Sell to confirm the trade with SL and TP.

Method 2: Modify an Existing Trade

Go to the Trade tab.
Tap and hold the open position.
Select Modify Order.
Enter your desired Stop Loss and Take Profit levels.
Click Modify to save changes.

Practical Example:

You sell GBP/USD at 1.2500.
You set Stop Loss at 1.2550 (if market goes up, you limit loss to 50 pips).
You set Take Profit at 1.2400 (if market goes down, you gain 100 pips).

In Summary

Trading on the MT5 mobile platform is convenient and user-friendly. With just a few taps, you can buy, sell, and manage your trades effectively. However, always remember to use Stop Loss and Take Profit levels to manage risk and protect your capital.

If you’re new to forex and want step-by-step guidance with free video tutorials, we recommend checking out mikofx academy. It’s one of the best places to learn forex at your own pace