In this article.XM MT5.This section explains how to use the
XMwellCompletely free demo account versionis available, so you can try it out risk-free.
Also, XM is giving away a $30 trading bonus to anyone who opens a new account!For more information, visit the official website atPlease check from the following links.
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How to use XM's MT5
How to log in to XM's MT5
Launch the application once MT5 installation is complete.
Double-click the MT5 icon in the programme list to start it.
Click [File] on the menu bar and then [Login to trading account].
A screen similar to the image above will appear, click [File] on the menu bar and then [Login to trading account].
Enter your login ID and password to log in.
[login ID] [password] [server].respectively, and click [ok].
The login ID is the account number issued when you open an account with XM and the password is the one you set when you opened your account.
The servers are listed in the login information sent to you by email after opening your account.
Now you can use this to.MT5 login is complete.
How to open the order screen
Right-click on the chart for which you want to place an order and select [Price Board] → [New Order].
When the new order screen (order screen) opens, you will see several items. Let's look at each of these items briefly.
tick chart | The chart is located on the left-hand side of the order screen. It shows detailed second-by-second price movements. |
description | The currency pair for which the order is placed is displayed. |
Type. | From the pull-down menu, select either [Countdown order] ([Streaming order] for MT4) or [Limit order]. |
Type. | The second [Type] appears when you select [Limit order] under [Type] under [Issue]. Within limit orders, you can further specify limit orders and stop orders in more detail. |
volume | Specify the number of lots to place the order. |
Price | This is displayed when [Limit Order] is selected under [Type] under [Issue]. Specify the rate at which you wish to place the order. |
Stop Loss | When placing a new order, specify the rate at which the loss is to be made. |
Take Profit | Specify the rate at which the profit settlement is to be made. |
order | Once you have completed the required fields, you can place an order. Please note that you will not be able to place a limit order, for example, if it is too close to the current rate. |
countdown order
A market order is the simplest way to place an order [to place an order for a specified number of lots right now at the current rate].
The only fields to specify in a market order are [Volume], [Stop Loss] and [Take Profit].[Stop Loss and Take Profit can be specified to do or not to do, and can be changed after the order has been placed.
In MT5 countdown orders, the execution condition is displayed as [IOC order], meaning that the order will be placed if it is possible to place the order at the current rate.
This reduces the risk of executing at an unfavourable rate in the event of a sudden change.
After specifying the items, click [Market Sell] or [Market Buy] to place the order.
one-click order
One-click orders are convenient when you want to place an order quickly.
Select the chart for which you want to set up a one-click order, right-click and select One-Click Trading from the menu.
[SELL] and [BUY] and a small window appears in the top left-hand corner of the chart where you can specify the number of lots to trade.
You can literally place a market order with one click, so be careful not to mishandle it.
When you first trade, e.g. with a one-click order, you will see the following screen.
Review the content, tick I agree to the terms and conditions and click OK.
Buy Limit / Sell Limit
Having looked at some ways of placing a market order, let's now look at limit orders. To place a limit order, select 'Limit' from 'Type' under 'Issues' on the order screen.
A limit order (limit order) is, in a nutshell, a way of placing an order to [buy when the rate is falling and sell when the rate is rising].
On the order screen, specify the volume of the transaction and the rate at which you want it to be executed in the [Price] field.[Stop Loss] and [Take Profit] can be freely specified.
When you have finished, click Order.
market settlement
Once you have placed an order, aim to settle it at the right time, whether at profit or loss. Make sure you know how to settle the order so that you don't panic when the time comes.
As with market orders, this is a basic settlement method.
To close an order, first open the Toolbox.
When the toolbox opens, select the Transactions tab on the far left.
The positions currently held will be displayed, and you can close them by clicking the [X] next to the [Profit/Loss] column of the position you wish to close.
You can also double-click on the profit/loss column of a position to display the order screen, where you can check the details of the position and then close it market.
Settlement stop-loss and settlement limit
See also how to set the rate you want to settle at in advance and have it settle automatically when that rate is reached.
Settlement stop loss (s/l) is used to set a stop loss line or when trailing and following price movements.
The settlement limit (t/p) is used when you want to [take profit when the rate comes to this point].
To set an entry line, simply drag and drop the mouse cursor over the green dotted line indicating the entry line.
Double-click in the [Settlement Stop (s/l) or Settlement Limit (t/p)] field of the relevant position in the toolbox to display the order screen.
- Stop Loss = Settlement Stop Loss
- Take Profit = settlement limit
Enter the values and click Change.
↓arrow (mark or symbol)
Click here for the official XM website.
*Now we're giving away a $30 bonus!
summary
This article explains how to use XM's MT5.
XMwellCompletely free demo account versionis available, so you can try it out risk-free.
Also, XM is giving away a $30 trading bonus to anyone who opens a new account!For more information, visit the official website atPlease check from the following links.
↓arrow (mark or symbol)
Click here for the official XM website.
*Now we're giving away a $30 bonus!