Contracts for Difference aka CFDs are instruments that are used to trade in various markets like options, forex, futures, commodities, stocks and many more. Because it is a highly leveraged instrument, CFDs are chosen by several risk takers with a hope that their positions will bring them great profits. In addition to this advantage, CFDs flexibility allows a trader to gain global market access by using a single platform. That is right, a trader who wishes to diversify his profile can use CFDs via a legit and easy access platform such as MT5. Metrader 5 is a newer version of the widely used MT4. Both of these platforms were created by a company called Metaquotes Software Corp. Nowadays, a lot of modernized traders prefer using this trading application but our primary focus for today’s post are the 3 reasons why experts recommend the usage of Metatrader 5 application to CFD traders.
3 Reasons why CFD Traders should use Metatrader 5 Application
1.Metatrader 5 platform is a very useful application.
- Metatrader 5 offers a wide range of data and information for research and information purposes.
As an active trader, one needs to be fully equipped with the current news and information that affects market behaviour. Because of this, a lot of trading enthusiasts keep themselves updated by watching news or reading from the internet. With the use of Metatrader 5 on hand, CFD traders who are into news trading no longer need to switch from one website to another just to research. Metatrader 5 can surely provide every information such as financial news and economic calendar. All you have to do is to click on the option that says news and calendar.
- It offers a wide array of tools and indicators
Tools and indicators play a major role in the creation of an effective trading strategy. These details provide information that help you predict possible behaviour of your trading merchandise in the market. Thus, having a wide access to these tools and indicators will keep you keen towards devising future and contingency plans to be performed during your trading sessions. With Metatrader 5, a user is given the authority to access over 80 analytical indicators and tools while being able to open 100 charts simultaneously and 21 timeframes.These things are already more than enough to provide advanced information for traders who are into the technicalities of trading.
With these 3 MT5 features in mind, there is no doubt that the said platform was able to bag several awards such as Best Multi asset and FX trading platform and Best Trading Platform at the Forex Expo. The Metatrader 5 platform is indeed something that a CFD trader needs to explore in order to enjoy better trading opportunities.