A Comprehensive Guide to Using MetaTrader 5 on PC with Deriv for Trading

For traders seeking a robust platform coupled with diverse market access, combining MetaTrader 5 (MT5) with a broker like Deriv presents a powerful solution. This guide will walk you through the process, from initial setup to advanced trading strategies.

Introduction to Deriv and MetaTrader 5

Overview of Deriv and its Integration with MT5

Deriv is a leading online trading platform offering access to various financial markets, including forex, commodities, stock indices, and synthetic indices. Its integration with MetaTrader 5 provides a sophisticated environment for traders who demand advanced charting, analytical tools, and automated trading capabilities.

Benefits of Using Deriv with MT5

• Advanced Charting Tools: MT5 offers a wide array of customizable charts and timeframes.
• Extensive Technical Analysis: Access to numerous built-in indicators and the ability to add custom ones.
• Algorithmic Trading: Support for Expert Advisors (EAs) to automate trading strategies.
• Market Versatility: Trade a broad spectrum of assets offered by Deriv.
• Enhanced Order Management: More sophisticated order types and execution modes.

Account Types Offered by Deriv on MT5

Deriv provides several account types tailored for MT5, catering to different trading needs and preferences. These typically include:

• Deriv MT5 Standard account: Offers competitive spreads and popular trading instruments.
• Deriv MT5 Financial account: Provides access to a wider range of forex currency pairs, metals, and cryptocurrencies.
• Deriv MT5 Synthetic Indices account: Unique to Deriv, allowing trading on proprietary synthetic markets 24/7.

Downloading and Installing MetaTrader 5 from Deriv

System Requirements for MT5 on PC

Before downloading, ensure your PC meets the basic requirements for MT5 to run smoothly:

• Operating System: Windows 7 or higher (32-bit or 64-bit).
• Processor: A modern processor (e.g., Intel Core i3 or equivalent).
• RAM: At least 4 GB RAM, 8 GB recommended.
• Storage: Ample free disk space, at least 100 MB for installation.
• Internet Connection: Stable broadband connection for real-time data.

Downloading the MetaTrader 5 Platform from Deriv

1. Visit the official Deriv website.
2. Navigate to the 'Platforms' or 'MT5' section.
3. Locate and click on the 'Download MT5 for PC' link.
   • Deriv typically provides a custom-branded MT5 installer, which pre-configures server settings for their accounts.

Installing MT5 on Your Windows PC

1. Locate the downloaded .exe file (e.g., derivmt5setup.exe).
2. Double-click the installer to begin the installation process.
3. Follow the on-screen prompts:
   • Read and accept the End-User License Agreement.
   • Choose the installation directory (default is usually fine).
   • Click 'Next' or 'Install' to complete the process.
4. Once installed, launch MetaTrader 5 from your desktop shortcut or Start Menu.

Setting Up and Configuring MT5 with Your Deriv Account

Connecting Your Deriv Account to MT5

Upon launching MT5, you'll be prompted to open an account or connect to an existing one. If not, follow these steps:

1. Go to File > Open an Account.
2. In the search bar, type 'Deriv' and click Find your company.
3. Select the appropriate Deriv server (e.g., 'Deriv-Server', 'Deriv-Synthetic').
4. Choose Connect with an existing trade account.
5. Enter your Deriv MT5 login ID and password (found in your Deriv dashboard).
6. Click Finish. Your account balance and trading history should now be visible.

Navigating the MT5 Interface: A Beginner's Guide

The MT5 interface is rich with features, but key areas to focus on include:

• Market Watch (Ctrl+M): Displays a list of available instruments with real-time bid/ask prices.
• Navigator (Ctrl+N): Allows access to your accounts, indicators, Expert Advisors, and scripts.
• Terminal (Ctrl+T): Shows open trades, account history, news, and alerts.
• Charts: The central area where price movements are visualized.
• Toolbar: Quick access to common functions like placing orders, changing chart types, and adding objects.

Customizing Charts and Workspaces

• Chart Types: Right-click on a chart > Properties to change between candlestick, bar, or line charts.
• Timeframes: Use the toolbar or right-click > Timeframe to select intervals from M1 (1 minute) to MN (monthly).
• Indicators: Drag and drop indicators from the Navigator onto a chart, or go to Insert > Indicators.
• Objects: Draw trendlines, Fibonacci retracements, and other analytical objects using the toolbar or Insert > Objects.
• Workspaces (Profiles): Save your preferred chart layouts and indicator settings as a profile (File > Profiles > Save Profile As).

Executing Trades on MT5 with Deriv

Financial trading involves risk. Understand your risk tolerance before placing any trades.

Placing Market Orders

1. From Market Watch: Double-click on the desired instrument, or right-click > New Order.
2. From Chart: Right-click on the chart > Trading > New Order.
3. The Order window will appear:
   • Select the Symbol.
   • Choose the Volume (lot size).
   • Specify Stop Loss and Take Profit (optional, but recommended).
   • Select Type: 'Market Execution'.
   • Click Buy by Market or Sell by Market.

Setting Stop Loss and Take Profit Levels

• During Order Placement: Enter values in the Stop Loss and Take Profit fields of the Order window.
• After Order Placement (on chart): Drag the horizontal line of your open trade up (for Buy) or down (for Sell) to set SL/TP points. A tooltip will show the price and potential profit/loss.
• After Order Placement (in Terminal): In the Trade tab of the Terminal, right-click on the open position and select Modify or Delete Order. Enter the desired SL/TP values and click Modify.

Using Pending Orders

Pending orders allow you to set an order to be executed when the price reaches a specific level in the future. There are four main types:

• Buy Limit: Buy at or below a specified price (below current market price).
• Sell Limit: Sell at or above a specified price (above current market price).
• Buy Stop: Buy at or above a specified price (above current market price).
• Sell Stop: Sell at or below a specified price (below current market price).

To place a pending order:

1. Open the Order window (as described for market orders).
2. Set Type to Pending Order.
3. Select the desired Type of pending order (e.g., Buy Limit).
4. Enter the Price at which the order should activate.
5. Specify Volume, Stop Loss, and Take Profit.
6. Optionally, set an Expiration date/time.
7. Click Place.

Managing and Closing Trades

• Monitoring Trades: All open trades are visible in the Trade tab of the Terminal window.
• Modifying Trades: Right-click on an open position in the Terminal and select Modify or Delete Order to adjust SL or TP levels.
• Closing Trades: Right-click on an open position in the Terminal and select Close Position. Alternatively, click the 'x' button next to the position in the Trade tab.

Advanced Features and Tools for Trading with Deriv on MT5

Accessing Historical Data

MT5 provides extensive historical data which is crucial for backtesting strategies and conducting in-depth analysis.

• Go to Tools > History Center.
• Select the desired instrument and timeframe.
• You can then download or export historical data for further analysis outside MT5.

Using Indicators and Analysis Tools Provided by MT5

MT5 comes with a comprehensive suite of built-in technical indicators, categorized as:

• Trend Indicators: Moving Averages, Bollinger Bands, Ichimoku Kinko Hyo.
• Oscillators: MACD, RSI, Stochastic Oscillator, CCI.
• Volumes: On Balance Volume (OBV), Volumes.
• Bill Williams: Alligator, Fractals, Gator Oscillator.

To apply an indicator:

1. Drag it from the Navigator window onto your chart.
2. Alternatively, go to Insert > Indicators and choose from the list.
   • You can also download and install custom indicators from the MQL5 community. Many traders find this valuable for niche analytical needs.

Implementing Expert Advisors (EAs) on Deriv MT5

Expert Advisors (EAs) are automated trading programs developed in MQL5 that can execute trades based on predefined rules. This can be a significant advantage for systematic traders.

1. Installation: Place the EA file (.ex5) in the MQL5 > Experts folder within your MT5 installation directory.
2. Activation: Restart MT5, or right-click on Expert Advisors in the Navigator and select Refresh.
3. Attaching to a Chart: Drag the EA from the Navigator onto the desired chart.
4. Configuration: A dialog box will appear allowing you to adjust input parameters and enable features.
   • Ensure Allow Algo Trading is checked in the EA's properties and also on the main MT5 toolbar (the 'Algo Trading' button should be green).
   • Always test EAs thoroughly on a demo account before deploying them on a live account. Backtesting and optimization are crucial steps.

By leveraging the advanced features of MetaTrader 5 on your PC with Deriv, you can elevate your trading experience, whether you are manually executing trades or employing sophisticated automated strategies. Remember to continuously educate yourself and practice responsible risk management.