FxPro MT5 for Deeper Market Analysis

What MT5 Offers on the FxPro Platform

MT5 is not simply a renamed version of MT4. It is a separate platform built from the ground up by MetaQuotes. FxPro runs MT5 alongside MT4, cTrader, and its proprietary FxPro Edge platform. Traders get to choose based on strategy, not limitation.

On FxPro, MT5 connects to over 2,200 instruments. That includes forex majors, minors, and exotics, plus CFDs on indices, commodities, energies, metals, and more than 2,000 share CFDs. Execution averages under 12ms on the NDD (No Dealing Desk) model. The platform runs with 99.9% uptime, which matters for traders active during the Asian session.

FxPro integrates Trading Central directly into MT5. This adds technical analysis signals, pivot levels, and entry/exit scenarios on top of the platform’s native tools. The economic calendar and live news feeds are also embedded, so traders do not need a separate browser tab.

MT5 Account Types on FxPro

FxPro offers several account types compatible with MT5. The Standard account suits traders who prefer commission-free pricing with spreads built in. The Raw+ account targets those who want spreads from 0.0 pips with a per-trade commission, using a pure NDD model. Both accounts support hedging and netting modes, which MT4 does not allow simultaneously.

FxPro does not require a mandatory minimum deposit for live accounts. On a Standard account, many traders begin with around MYR 50-100 (roughly USD 10-20), depending on the payment method used. The actual minimum may vary by the deposit channel selected.

Downloading and Installing MT5

The safest path is always through FxPro’s official Download Centre at fxpro.com/trading-platforms/download-centre. Third-party installers carry security risks.

Desktop Installation (Windows and macOS)

For Windows, the process is straightforward:

1. Log in to FxPro Direct.

2. Go to Quick Access, then Download Centre.

3. Select “FxPro MT5 Client Terminal” and choose Windows.

4. Download the installer (approximately 15MB).

5. Run the file as Administrator.

6. Allow firewall exceptions when prompted.

For macOS, MT5 does not have a native build. Install PlayOnMac first. Then right-click the downloaded .exe file and select “Open with PlayOnMac”. Follow the installer prompts from there.

Mobile Installation

On Android, search Google Play for “MetaTrader 5” by MetaQuotes and also install “FxPro: Trade MT4/5 Accounts”. The FxPro app carries a 4.4-star rating with over 10 million downloads. On iOS, find “MetaTrader 5” on the App Store alongside the FxPro app. Log in using your MT5 credentials, which are separate from your FxPro Direct website login.

WebTrader Option

No download is required for WebTrader. Open FxPro Direct, select MT5 WebTrader, and the platform runs in the browser. It supports 30 indicators, 9 timeframes, and one-click trading. Use it when on a device that restricts software installation.

Connecting Your FxPro Account to MT5

MT5 uses a separate login from the FxPro Direct portal. After account verification, FxPro sends MT5 credentials by email. These include a numeric login ID, a password, and a server name (formatted as FxPro-MT5 followed by a suffix).

To connect:

1. Open the MT5 desktop application.

2. Click File in the top menu.

3. Select “Login to Trade Account”.

4. Enter your login ID, password, and the correct server name.

5. A green status bar at the bottom confirms a live connection.

If the server name is missing, check FxPro Direct under the account details section. The same credentials work for the mobile app. Tap the menu icon, go to Manage Accounts, and enter the same three fields.

Before trading live, open a demo account through FxPro Direct. The demo environment runs on the same server infrastructure as live accounts. Spreads, execution speed, and order types behave identically.

Advanced Features That Separate MT5 from MT4

This section covers the tools that make MT5 worth switching to. Each one has a practical function in daily trading.

Depth of Market (DOM)

DOM shows the live order book: real buy and sell orders stacked at different price levels. Access it by right-clicking a chart and selecting “Depth of Market”, or pressing the keyboard shortcut Alt+B. For scalpers watching EUR/USD or USD/MYR, DOM reveals where liquidity clusters. It is absent entirely from MT4.

21 Timeframes

MT4 offers 9 timeframes. MT5 offers 21, from M1 (one minute) up to MN1 (monthly). The additional timeframes include M2, M3, M4, M6, M10, M12, M20, H2, H3, and H6. A trader running a strategy on H3 candles, for example, had to approximate this on MT4. On MT5, the chart is native and precise.

Strategy Tester

The Strategy Tester in MT5 runs backtests on Expert Advisors using historical data. It supports multi-currency testing, which MT4’s tester does not. Open it from View > Strategy Tester or press Ctrl+R. Select the EA file, the symbol, the timeframe, and the date range. Run in “Every tick based on real ticks” mode for the highest accuracy. Results show a detailed report: profit factor, drawdown, trade count, and equity curve.

Economic Calendar

The calendar is embedded under the View menu. It shows scheduled economic releases with expected and previous values. Filter by impact level (low, medium, high) or by region. For traders in Malaysia, this is useful when monitoring Bank Negara Malaysia rate decisions, US Non-Farm Payrolls, or Asian session events affecting JPY and AUD pairs.

Trading Instruments Available on MT5

MT5 on FxPro provides access to a broader instrument list than MT4. The table below summarises key specifications.

Share CFDs are only available on MT5, not MT4. This is one of the clearest functional differences between the two platforms.

MT5 vs MT4: Side-by-Side Comparison

Traders moving from MT4 to MT5 often ask what the practical differences are. The table below covers the points that affect daily trading decisions.

MT4 remains available on FxPro for traders who have existing EAs coded in MQL4. MQL4 and MQL5 are not cross-compatible. If you have a working MT4 EA, it will not run on MT5 without rewriting the code.

MT5 for Algorithmic Trading: MQL5 and the Marketplace

MT5’s automation environment runs on MQL5, an object-oriented language based on C++. It is more powerful than MQL4 but requires more structured coding. For traders who do not code, the MQL5 Marketplace offers hundreds of ready-made Expert Advisors and indicators.

Installing an EA on FxPro MT5

Follow these steps to install a downloaded EA file (.ex5 format):

• In MT5, click File, then Open Data Folder.
• Navigate to MQL5, then the Experts folder.
• Paste the .ex5 file into that folder.
• Return to MT5, right-click on Expert Advisors in the Navigator panel, and select Refresh.
• Drag the EA from the Navigator onto a chart.
• Enable AutoTrading using the button in the top toolbar.

Before running any EA on a live account, test it in the Strategy Tester. Use real tick data and a date range of at least six months. Check the drawdown percentage in the results. An EA with a drawdown above 20% carries substantial risk in live conditions.

VPS Hosting for Continuous EA Operation

FxPro offers VPS (Virtual Private Server) hosting for traders running EAs. A VPS keeps MT5 running 24 hours even when the local computer is off. This is relevant for traders using EAs on Asian session pairs, where connectivity during Malaysian business hours is not always guaranteed overnight.

Who Should Use MT5 on FxPro

MT5 suits a specific type of trader. It is not the right choice for everyone.

Use MT5 if:

• You trade share CFDs alongside forex or indices.
• You run EAs and want multi-currency backtesting.
• You rely on Depth of Market for order flow analysis.
• You need more than 9 timeframes for your chart setup.
• You want the Strategy Tester for systematic EA validation.

Stick with MT4 if:

• You have existing EAs written in MQL4 that you rely on.
• You trade only forex pairs and do not need share CFDs.
• You prefer the simpler interface for manual execution.

Beginners can start on MT5 without prior MT4 experience. The learning curve is not steeper. The interface is similar, and the additional tools are optional until needed.

Setup Checklist Before Going Live

Before placing the first live trade on FxPro MetaTrader 5, confirm each of the following:

• FxPro account registered and KYC documents submitted (Malaysian IC or passport plus proof of address dated within six months).
• MT5 credentials received by email (login ID, password, server name).
• MT5 downloaded from the official FxPro Download Centre only.
• Demo account tested with the same strategy intended for live trading.
• Firewall and antivirus exceptions added for the MT5 executable.
• AutoTrading disabled until EA testing is complete.
• Risk per trade set to a defined percentage before opening positions.

For support, contact FxPro via LiveChat at fxpro.com (available 24/5) or through the FxPro app’s 24/7 chat. For platform-specific issues, email [email protected].