MetaTrader 5 (MT5) is one of the most popular CFD trading platforms. Both beginners and seasoned traders love it for its rich functionality and numerous tools useful to any trader no matter where they are in their trading journey.
In this blog, we’ll walk you through the main features of Deriv MT5, customised to our trading conditions.
Markets available on Deriv MT5
The Deriv MT5 platform offers CFD trading on multiple financial markets, such as forex, stocks and stock indices, commodities, cryptocurrencies, and derived indices.
The selection of markets and assets depends on the account type you choose.
There are 2 account types available on Deriv MT5, each offering a demo and a real version:
In the EU region, Deriv MT5 allows you to trade both derived and financial assets with 1 CFD account.
How to use Deriv MT5
The Deriv MT5 platform can be used in 3 different ways:
- On a web terminal (in your web browser)
- Desktop app
- Mobile app
Whichever option you choose, you will first need to sign up for a Deriv account and then create a separate Deriv MT5 account.
Please note that if you decide to proceed with the desktop or mobile app, you’ll need to download it here first and then connect it to the Deriv server. It’s a one-time action required only upon logging in to your account for the first time.
To connect your MT5 desktop app to the Deriv server:
- Click the ‘File’ tab in the top left corner.
- Click the ‘Open an account’ tab.
- Select ‘Deriv Limited’.
- Select the ‘Connect with an existing trading account’ section, and enter your Deriv MT5 credentials.
To connect your MT5 mobile app to the Deriv server:
- Tap ‘Setting’ in the bottom right corner on iOS or 3 lines in the top left corner on Android devices.
- Select ‘New account’ on iOS or tap ‘+’ on Android devices.
- Select or type in ‘Deriv Limited’ from the list of brokers.
- Enter your Deriv MT5 credentials.
Keep in mind that to connect the app to your demo account, you need to select Deriv-Demo server, and for your real account, select Deriv-Server on both desktop and mobile app.
If you are experiencing login issues, please make sure you enter the same login ID and password that are available in your MT5 dashboard in your mobile browser or proceed to reset your password and try again.
To trade on the web terminal, you will simply need to log in to your Deriv account on our website, select Deriv MT5 from the platform drop-down menu in the top left corner, and click the ‘Trade on web terminal’ button. You’ll be prompted to enter your Deriv MT5 credentials before you can start trading.
Main features of the Deriv MT5 platform
The desktop app provides the richest functionality in terms of features, so let’s use its interface as an example for our platform guide.
Once you’ve connected to your MT5 account, you will see the platform interface with a comprehensive toolbar and a workspace.
The toolbar offers a range of handy tools, such as a list of all available assets (called symbols on MT5), different chart types, and drawing tools. You can customise your toolbar by right-clicking on any of the icons and selecting the ‘Customise’ tab.
The workspace is divided into panels that have different capabilities. Let’s see what each of them does.
The market watch panel is located on the top left side of the platform and gives you access to all assets available for trading, along with their live quotes. If you right-click an individual asset and select the ‘Specification’ tab, you’ll be able to see more information about it, such as margin rate, contract size, and trading timings.
Navigator (not available in the web terminal)
The navigator panel is located in the middle of the platform’s left side and provides access to your accounts and additional resources, like technical indicators, expert advisors, and more.
The chart panel is the biggest one in the workspace and takes the middle part of the platform. In this panel, you can have 4 separate charts of different assets at once, or expand one of them into the full version. You can also customise each chart by right-clicking on it and selecting the ‘Properties’ tab – choose how each chart looks, what it shows, and even its colour schemes.
The trading panel is located at the bottom of the platform. It is a useful feature to keep track of information on your trades. For example, you can see all the open and running trades in the ‘Trade’ tab, access all the closed trades in the ‘History’ tab, and check all the notifications in the ‘Journal’ tab.
Moreover, the trading panel has ‘News’ and ‘Calendar’ tabs that can help you with the fundamental analysis to fine-tune your trading strategy.
These are the main features of the Deriv MT5 platform used by traders on a regular basis, but the platform has many more functions that can enhance your trading journey. We encourage you to explore and try all the available tools with a free demo account. It’s risk-free and pre-loaded with 10,000 USD of virtual money to give you a lot of room for trying things out.
Additionally, you can check out our Why the trading world loves the MT5 platform blog post to get to know more about the platform’s benefits.
Basket indices, exotic pairs, and certain leverage conditions mentioned in this blog are unavailable to clients residing in the EU.
Derived and Financial accounts on the MT5 platform are unavailable to clients residing in the EU.