Learn How to Use MT5

Learn How To Use MetaTrader 5 (MT5) On Mac

Step 1: Open a TMGM MetaTrader 5 (MT5) Trading Account

  1. Head to MT5 Download page.
  2. Click on 'Download MT5 for Mac'.
  3. Click 'Sign Up' and fill in your details.
  4. Login into your account.

Step 2: Setting Up MetaTrader 5 (MT5) on Mac

  1. Access the TMGM website using your desktop browser.
  2. Navigate to the 'Platforms' section, then choose 'MetaTrader 5'.
  3. Click the 'Download' button to start the download process.
  4. Navigate to your 'Downloads' folder and double-click on the .dmg file to initiate the installation.
  5. Adhere to the on-screen instructions to complete the installation on MT5 on your Mac.

Step 3: Log into Your Trading Account

  1. Find the ‘MT5’ icon in your ‘Applications’ folder and double-click to launch the program.
  2. On the platform, click on ‘File’ from the menu bar, then choose ‘Login to Trader Account’.
  3. Enter your TMGM trading account credentials (Account Number & Password) and ensure that you select the appropriate server (TMGM-Demo or TMGM-Live), depending on your account type.

Step 4: Deposit/Withdraw Funds

  1. Locate the ‘Withdrawal’ or ‘Withdraw Funds’ section. This can typically be found in the same area as the deposit options in the 'Navigator' or ‘Terminal’ window.
  2. Select the MT5 account that is supposed to either receive the deposit or perform the withdrawal process.
  3. Enter the deposit/withdrawal details such as amount of deposit, card details or e-wallet account information etc.
  4. Review and confirm that the deposit/withdrawal amount and payment method is correct.
  5. Click the ‘Authorize’ or ‘Confirm’ button to initiate the deposit/withdrawal.
  6. Wait for the confirmation message indicating that your deposit/withdrawal request has been received and is being processed.
  7. Once the deposit/withdrawal is successfully processed, log into the MT5 account and verify that the amount in the trading account has been updated.

Step 5: Navigating the MetaTrader 5 (MT5) Interface

  1. Explore the main menu at the top of the screen. There will be various tabs such as 'File', 'View', 'Insert', 'Charts', 'Tools', and 'Help'. It also contains various panels such as 'Market Watch', 'Navigator Window', 'Chart Window' and 'Trade Terminal'.
  2. Market Watch: The 'Market Watch' window on the left side displays a list of available trading instruments. Right click to customize the list according to your preferences.
  3. Navigator Window: The 'Navigator Window' provides quick access to the trader's accounts, indicators, expert advisors, and scripts.
  4. Chart Window: Open a chart by clicking on a trading instrument in the 'Market Watch'. Customize the chart by adjusting the timeframes, adding indicators, and drawing tools.
  5. Trade Terminal: Access the 'Trade Terminal' at the bottom of the screen. This section allows you to place, modify, and manage trades efficiently.

Step 6: Setting Up Alerts & Notifications

  1. Navigate to the 'Alerts' Tab.
  2. Create a new 'Alert'.
  3. Configure the settings of the 'Alert' based on the respective 'Symbol', 'Price/Value' & 'Action'.
  4. Set parameters for the 'Alert'.
  5. Give the 'Alert' a name.
  6. Save the 'Alert' once all the configurations have been done.
  7. Activate the 'Alert'.
  8. Monitor the 'Alert' frequently as it will trigger when the specified condition(s) is/are met in the market.

Step 7: Placing Trades on MetaTrader 5 (MT5)

  1. Click an instrument in the 'Market Watch' section or select it from the ‘Charts’ menu.
  2. Right-click on the chart and select ‘Trading’ or use the ‘New Order’ button in the toolbar. This will open the 'Order Window'.
  3. In the 'Order Window', choose the type of order you want to place.
  4. Specify the volume or trade size for your order.
  5. Set a ‘Stop Loss’ or ‘Take Profit’ level for the pending order.
  6. Review the order details in the ‘New Order’ window.
  7. Click ‘Buy’ or ‘Sell’ to confirm and place the order.

Frequently Asked Question

No, you cannot use your MT4 account ID to access MT5. You will need to create a new MT5 account with TMGM to start trading.

Yes, there are a few limitations to using MT5 on Mac compared to Windows:

  • Fewer automated trading algorithms (EAs): Mac users have a smaller selection of EAs available due to compatibility issues with the MacOS architecture.
  • Limited custom indicators: While most common indicators are available, some niche or highly specialized ones might not function properly on Mac.

No. MetaTrader 5 for Mac runs smoothly on most models and Mac OS versions, including Ventura and M2 chips.

Here's how to move your MT5 settings and data to Mac:

  • Backup the existing MT5 settings on Windows by doing the following: Open MT5 > File > Open Data Folder. Copy the entire 'MQL5' folder (Contains indicators, EAs, settings) and your account's data folder (Usually under 'Terminal.Data').
  • Save the folders to a cloud storage service or external drive.
  • On Mac, download MT5 and open the Data Folder again. Paste the backed-up 'MQL5' folder and your account's data folder inside.
  • Restart MT5 on Mac. The settings and data should be backed up and ready to be used.

Here are some key ways to personalize the MT5 workspace on Mac:

  • Right-click any chart for menu options like changing time frame, indicators, colors, and styles. Drag and drop indicators onto charts for easy application.
  • Use the View menu to show/hide panels like 'Market Watch', 'Navigator', 'Terminal'. Customize toolbars by right-clicking and adding/removing buttons.
  • Save your custom layout (Charts, Panels, Indicators) as a profile (Tools > Profiles > Save) and switch between them easily.
  • Select from built-in themes or download custom ones online to change the platform's overall look and feel.
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