MT5 or MetaTrader 5 is a multi-asset trading platform that allows traders to trade forex, futures, and stocks. It is widely used by traders all around the world, and Indian clients are also starting to realize how useful the platform is. It provides sophisticated tools for price analysis and allows users to do copy trading, as well as apply EAs for algorithmic trading.
When it comes to trading forex in India, the first exchange comes in mind is BSE. The question has been on the minds of Indian traders for a long time: “Can I trade forex in India with BSE MT5?” According to the announcement of MetaQuotes on March, 2018; the legendary platform is now allowing demo trading through its demo server on BSE. Now, it can be expected that MT5 would start supporting live trading on the stock exchange soon as well.
The Benefits of Fundamental and Technical Analysis of MetaTrader 5
- Fundamental analysis: Traders can use fundamental analysis to predict the price dynamics of trading instruments. The goal is to track several economic and industrial indicators constantly. The platform broadcasts news reports directly from the global news agencies so traders can be updated all the time. The economic calendar features the major macroeconomic indicators of various countries so traders can analyze the impact on different financial assets.
- Technical analysis: Apart from fundamental analysis, MT5 also offers innovative technical analysis tools. A trader can open up to 100 charts of stock and currency quotes at the same time. 21 timeframes are offered so traders can analyze every small price movement in detail. Other tools include over 80 technical indicators, graphic objects, and more. The best part is that traders not only have to choose from available indicators but they can also order advanced programs and custom indictors. You can also develop unique indicators by using the MQL5 programming language. Not only all these make the platform more capable but you can also obtain detailed and precise technical analysis.
Trading Platform Options on MetaTrader 5
- Web trading: The MetaTrader WebTrader is the ideal solution for people who find it bothersome installing trading software to their computer. You can use any browser and operating system to run the WebTrader and analyze and trade any financial markets. All it requires is an internet connection.
- Mobile trading: MetaTrader also allows traders to enjoy forex trading without using a desktop computer. You can trade from anywhere and anytime by installing the mobile version of MT5 to your iOS or Android device. The applications support a full set of trading function, offer extensive analytical capabilities via the use of graphical objects and technical indicators. You can also monitor the status of your account; take a look at your trading history, and more.
Reasons More Traders in India are into Stock Trading These Days
- Versatility: Various trading assets are provided in the stock market to traders; such as bonds, derivatives, shares, and mutual funds. So, the traders can choose an instrument to invest from a wide collection of markets. Not only market choices, but stock trading also offers the flexibility in risk mitigation by allowing the trader to diversify their portfolio.
- Ownership: In stock trading, you can obtain shares of a company and it earns you a portion of ownership. It means that you can contribute your opinion with a right of voting in the company’s strategic decisions.
- Liquidity: The Bombay Stock Exchange (BSE) plays a major role in the Indian stock market along with the National Stock Exchange (NSE). Many Indian firms trade company shares on these exchanges. So, traders are provided with higher liquidity due to high average daily volumes. Thanks to this liquidity, a trader can buy or sell a share on the stock exchanges easily.
- Regulation: The Indian stock market is put under a regulatory environment under the Stock Exchange Board of India (SEBI). The SEBI not only regulates the stock exchanges but also takes the responsibility of protecting the customer rights. When a trader invests in stocks, they are secured by this regulatory framework, which minimizes risks and fraudulent activities.
- Convenience: The Indian stock exchanges use advanced technology to offer more convenience to traders. The powerful MetaTrader platform is just another addition to this. On such an easy-to-use platform with several trading options, traders can grab the opportunities of stock trading even better. Now traders can trade from the comfort of their home or on the go which is super convenient.
BSE – The Oldest and Largest Stock Exchange of Asia
The Bombay Stock Exchange, known as BSE Limited is the oldest stock exchange not only in India but also Asia. Located on Dalal Street in Mumbai, the stock exchange was founded in 1875. It is also considered the fastest stock exchange in Asia because of its speed of 6 micro seconds. In 2017, it became the first listed stock exchange of India. It is the twelfth biggest stock exchange across the world that has an overall market capitalization of over 218,730 billion as of May 2021. You may click here to know more about BSE: https://www.bseindia.com/.
MetaQuotes’ Announcement about BSE on MT5
On March 5, 2018, MetaQuotes, the developer of MeteTrader 5 announced that MetaTrader 5 would start supporting BSE. So, traders can open a trading account on the BSE demo server of MetaTrader 5. They can also apply technical analysis tools and use the historical price data of BSE to perform backtesting on MT5. Manoj Choudhury, head of the company’s Middle East office, stated that they were pleased about the integration of MetaTrader 5 and BSE and hopeful that the multi-asset platform would help brokers associated with BSE to provide their services to Indian clients. MD and CEO of BSE Mr. Ashishkumar Chauhan also commented about integrating BSE finance instruments with MT5 and he believed that the Indian community of investors and traders would be greatly benefitted by this.
What Features Would Indian Traders Be Able to Use Once MT5 Fully Supports Trading through BSE?
MT5 is currently the best application a trader can choose for forex trading, and it is no exception for Indian clients. By using this platform, traders can use several powerful and useful features, such as –
- Flexible trading system: MT5 offers a powerful trading system and a separate accounting system for trades and orders. As for order accounting, both the traditional netting system, as well as the hedging option system are supported by the platform. Traders are also provided with four order execution modes: Instant, Market, Request, and Exchange execution. At the same time, MT5 supports all kinds of trade orders, including pending, market, and stop orders, and trailing stop. When a platform offers such diverse types of orders and execution modes, traders can work on the forex markets successfully with the flexibility of using any trading strategy.
- Algorithmic trading: Algorithmic trading is one of the most interesting features of MetaTrader 5. This feature allows traders to use EAs to analyze and conduct trading operations by following an algorithm. Once you come up with a strategy that works, you may robotize it and also develop and optimize new trading robots.
- Trading signals and copy trading: With MT5, traders do not to spend a lot of time to analyze the markets. They can just subscribe to a trader and MT5 can regenerate all trades on their account automatically. Users are allowed to select from numerous free and paid signals that can be used on live or demo accounts with the risk level they prefer. They can either depend on the signal behavior or track trading results.
- Virtual hosting (VPS): MT5 can run even when the computer is not on, thanks to the virtual hosting. It only takes a few clicks to virtualize the platform and make it run on a remote server like forex VPS. Hence, the trades of your EAs, as well as signal subscriptions are executed at any time without delay.
Once the partnership moves from demo server to full service, all Indian clients will be provided with these powerful features of MT5. All Indian traders are eagerly waiting for that day to come now. To know more about MT5, you may click here: https://www.metatrader5.com/en.