How to trade cryptocurrency CFDs on Metatrader 5 (MT5)

How to trade cryptocurrency CFDs on Metatrader 5 (MT5)

Cryptocurrency CFD trading is now available on the popular MetaTrader 5 (MT5) platform. The advantage of using CFDs is that you can profit from rising and falling prices of cryptocurrencies. However, not all brokers who trade on the MT5 platform.

Cryptocurrency market integration on Metatrader 5

MetaTrader 5 offers the ability to trade all types of assets and cryptocurrencies are now no exception. Be one of trading platforms the most popular, it was to be expected.

The financial sector is made up of millions of traders – both individuals and companies – and a platform like Metatrader 5 has to satisfy all kinds of requests from a hundred countries around the world for maximum accessibility.

Along with forex, stock indices, futures, commodities, stocks and other financial instruments, cryptocurrency traders and enthusiasts can also speculate on the prices of the hottest cryptocurrencies right now.

Of course including Bitcoin and Ethereum, but also Solana, Cardano, Dogecoin, and also altcoins like Shiba Inu – MetaTrader 5 and the broker Eight chap now offers nearly 300 cryptocurrencies.

For all those who wonder why Metatrader 5, there are many reasons but they can be summarized in a few words: efficient, accessible, safe. Being a FIX compatible application, it comes in different forms for all types of devices: desktop, mobile and even browser. It can also manage multi-asset classes and can be used with robots (EAs), trading algorithms and other tools to maximize your returns.

Cryptocurrencies are volatile and being able to offer options to different types of traders is essential. With free market apps, traders can try out different strategies. Beginner traders can greatly benefit from learning the basics of algorithmic trading and automated trading.

Trading cryptocurrency CFDs on the Metatrader 5 platform

To start trading virtual currencies on MetaTrader 5, there are a few steps to follow. First of all, you should have opened an account with a broker. Eightcap is an award-winning broker and offers nearly 300 cryptocurrency CFDs with dozens of indicators that can be used to customize your trading strategy to your liking.

If you have any questions along the way about setting up an indicator or using the MT5 platform, you can always contact the excellent helpdesk and they will make sure you are in full control of trading as you wish. Opening an account is simple and easy: you can try the free demo account or open a real account and start trading.

Once your account is open, you can use your credentials to log into the MT5 platform. Depending on the type of device and operating system you choose – Windows, Mac, iOS, Android or directly from your browser – the connection process may differ slightly, although in general it is the same.

After opening an account, download MT5 from the site and log in. Right-click on the Market Watch window and select the Symbols tab. A list of resources will appear – choose Crypto from it. Browse the list and click “Show” on the matches you want to add. Your chosen cryptocurrency pairs should now appear in the Market Watch window. It’s that simple! Now all that remains is to go long to take advantage of price increases or short to take advantage of the price decreases of the cryptocurrencies of your choice.

Par Léon Marshall, Eightcap

The views expressed herein are those of the author only and do not necessarily reflect the views of Forex Quebec. Every investment and trading move carries risk, you should do your research when making a decision.

Interested in trading? Eightcap offers currency trading on forex, stocks, stock indices, commodities and hundreds of cryptocurrency CFDs. “Leave now

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Disclaimer: The information and opinions contained in this report are provided for general information purposes only and do not constitute an offer or solicitation to buy or sell any forex or CFD exchange contracts. Although the information contained herein comes from sources believed to be reliable, the author does not guarantee its accuracy or completeness and assumes no responsibility for any direct, indirect or consequential damages that may arise from anyone who relies on such information.

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