What commission will I be charged for trading on the MT5 platform? There is no commission fee for opening and closing positions on the MT5 platform. FxPro applies a small... more" />

FxPro Metatrader 5

What commission will I be charged for trading on the MT5 platform?

There is no commission fee for opening and closing positions on the MT5 platform. FxPro applies a small mark-up to the spread. There is also no commission fee for trading Futures and Indices.

What spreads do you offer on MT5?

Spreads on MT5 vary according to the prevailing market conditions. You can view our minimum and average MT5 spreads here

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How do I log in to my MT5 trading platform?

You can log in to your terminal from the menu at the top left of the screen. To do so, click ‘File’ and then ‘Login’. A new box will appear that will ask for your login credentials, password, and the server that your account has been assigned to.

Your login details are sent to you via email after your account has been approved. Demo account credentials can also be accessed via FxPro Direct (direct.fxpro.com if you are under CySEC, or direct.fxpro.co.uk if you are under FCA). To view them, log in to your FxPro Direct, click on ‘My Profile’ from the list on the left-hand side, and then click on the ‘Platform Credentials’ tab on the ‘My Profile’ page.

How do I place a new market order in MT5?

A market order is an instruction to open a position at the current market price.

There are many ways to place a market order in the MT5 terminal:

Click on the ‘New Order’ button on the ‘Standard’ toolbar
Select ‘New Order’ from the ‘Tools’ drop-down menu
Press F9
Right-click an instrument in the ‘Market Watch’ window and select ‘New Order’
Double-click an instrument in the ‘Market Watch’ window
One-click trading

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Proceeding with any of the above options will open up the ‘Order’ window. This will let you adjust the parameters of the position you are about to open. The ‘Symbol’ field allows you to change the instrument, while the ‘Volume’ field is where you set the size of the trade (lot). You may also set stop-loss and take-profit levels. You may then click ‘Sell by Market’ to open a short position, or ‘Buy by Market’ to open a long position.

How do I place a pending order in MT5?

A pending order is an instruction to open a position when the instrument reaches a certain price pre-defined by you.
You can place a pending order via the main ‘Order’ window [See How do I place a new market order in MT5?]. Simply change the ‘Type’ from ‘Market Execution’ to ‘Pending Order’. A drop-down menu will then appear that will ask you to specify whether the pending order you are about to place is a Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit or Sell Stop Limit Order, and will allow you to set limit price and expiry date and time.

How do I modify or delete a pending order in MT5?

Should the need arise for you to modify or delete a pending order that you have placed, locate the order in the ‘Terminal’ window at the bottom of your MT5 screen. Open orders appear above your account details, while orders that haven’t yet been executed appear below them. Right-click or double-click on the order you wish to modify or delete. A pop-up menu will appear that will allow you to select ‘Modify or Delete Order’. The ‘Order’ window will appear and enable you to change the price at which the order is triggered, to re-set the expiry date of the order, to set stop-loss and take-profit levels or to delete the order altogether.

You may also delete an order by clicking the ‘X’ symbol at the bottom right corner of your MT5 terminal.

Why has my pending order not been executed?

If your pending order has not been executed, it may be because you did not have sufficient funds to open the position when the pending order was triggered. Alternatively, your pending order may not have been executed if the specified price has not yet been reached. Please note that for pending Sell Orders, the bid price must reach your specified level; for pending Buy Orders, the ask price must reach your specified level.

How do I close a position in MT5?

To manually close an open position, you must first locate the order in the MT5 ‘Terminal’ window at the bottom of your MT5 screen. Right-click on the order you wish to close and select ‘Close Order’, or double-click on the order to bring up the ‘Order’ window and close it from there.

If you have set valid stop-loss or take-profit levels, your order will be closed once the market price reaches either of the levels you have specified.

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What is the margin level of my MT5 account?

Margin level (%) is calculated as follows: Equity / Margin X 100.

FxPro provides traders with margin monitoring in real time, and offers Negative Balance Protection to ensure that clients cannot lose more than their overall investment.

Once the margin level of your account drops below 40%, we have the discretionary right to begin closing current open positions, starting from the one requiring the most margin. If the margin level of your account is equal to, or drops below, 30%, all your open positions will be automatically closed at the current market price, according to our Order Execution Policy.

Where can I find my account balance and trade history in MT5?

All account information and trade history is found in the ‘Terminal’ window at the bottom of your MT5 screen. At the bottom of this window you will find the following tabs:

Trade: displays your account balance, equity, margin, free margin, margin level, and any open positions and pending orders.

Account History: displays a complete breakdown of all the orders you have placed including date and time, type, size, instrument, price at open, take-profit and stop-loss levels, price and time of close, swap fees and profit.

Journal: provides a list of all the actions you have taken on your MT4 terminal, as well as their respective dates and times.

Can I export my history from MT5?

You can create a trade history report and export it as a separate HTML or EXCEL file. To do this you have to log in to your MT5 terminal and click on the ‘Account History’ tab at the bottom of the ‘Terminal’ window, found at the bottom of your MT5 screen. Right-click anywhere inside this window and select ‘Report’. A new menu will appear, asking you to choose between HTML and XML as report format.

Why can I not enter my order into MT5?

Your order may be rejected if you do not have sufficient margin in your account to cover the position that you are trying to open.

Why is the ‘Modify’ button greyed-out when I try to set stop-loss or take profit levels for an existing order?
If the ‘Modify’ button is greyed-out when you try to set stop-loss or take-profit levels for an existing order, it may be because you have placed your stop-loss or take-profit levels too close to the current price. Alternatively, it may mean that you have set these levels on the wrong side of the current price.

Please note that for short positions (sell orders), stop-losses must be set higher than the current market price and take-profit levels must be set lower than the current market price.

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