MetaTrader 5 or MT5 the next version of its trading platform.It expanded the number of products that could be traded from just Forex to include stocks and commodities.MT5 also includes a new version of the programming language called MQL5. The new MT5 client trading terminal differs in a number of ways from MT4 and was not backward compatible.Uptake of the new version was slow and by April 2011, MetaTrader had only 50 companies featuring the new version with over 400 companies remaining on MT4 mainly as a result of the lack of backward compatibility. Additionally, there has been an overall reluctance to adopt the new MQL5 programming language.
This is where you choose whether to buy or sell the Forex pair. You can also switch between the different financial instruments offered from your Metatrader 4 Forex broker, as well as to choose the volume you want to trade. From this window, you can also choose whether to set a Stop Loss or Take Profit orders as well as the levels you want to place these at. Also, if you already have an order with this Forex pair, you can modify it, or you can put some additional requests like MT4 trailing stop.