How to Ensure a Safe and Secure MT5 Download
Source: Freepik
MetaTrader 5, commonly known as MT5, is a popular trading platform that allows traders to manage multiple asset classes, including forex, bonds, commodities, stocks, and futures. MT5 is known for its advanced technical indicators and technical analysis tools. However, without robust security measures, using MT5 for trading might not yield favourable results.
Whether you’re downloading the MT5 app on your phone or desktop, follow these tips for a smooth and stress-free download and usage:
Download from the Official Source
For secure MT5 download, always download it directly from the MetaQuotes website. If you’re downloading the Android mobile app, go to your Google Play Store app and find the one by MetaQuotes Software Corp. After downloading, you can start using the demo version to familiarise yourself with indicators and analysis tools before making your way to live conditions.
Download Directly from Your Broker
If you’ve already registered with a broker, download from the link mentioned on the broker’s website. Make sure your broker has the relevant licenses from reliable authorities, such as the U.S. Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA).
Read the Licensing Agreement
Before installation, carefully read the MT5 licensing agreement. You’re granted a non-exclusive, non-transferable, and non-sublicensable license for using the platform for financial brokerage purposes. Reading the licensing agreement can familiarise you with any special conditions that may become relevant later on.
Choose a Strong Password
It might sound too obvious, but choosing a strong password is critical for protecting your data and capital. Here are some tips you can follow when selecting a password:
- Choose a complex password with a mix of letters and numbers.
- Include special characters in your password.
- Avoid using easily guessed words like names, birthdays, or locations.
If you’re using a live trading account connected with your brokerage account, you can use the same account name and password.
Cybersecurity experts recommend changing your password at least every three months to prevent unauthorised access to your MT5 account.
Enable Two-factor Authentication
In addition to a strong password, two-factor authentication also adds a layer of security, protecting your MT5 account. Most trading platforms provide 2fa, which could be a code sent to you via text or phone. 2fa is harder for hackers and unauthorised users to bypass.
Download and Use MT5 on Secure Connection
Downloading the MT5 app on an unsecured Internet connection, like public Wi-Fi, can be dangerous. It can give way to man-in-the-middle attacks. Moreover, hackers can log into your MT5 account and open positions with the intention of harming your capital.
Monitor for Unusual Activity
To keep your MetaTrader 5 app secure, regularly monitor your trading activity. View your past trades from the History tab and make sure everything is in order. If you see any suspicious or unusual activity, reach out to MT5’s customer support and register your complaint.
By following these tips, you can download MetaTrader 5 safely and reduce the risks of unauthorised access. Comply with the platform’s security regulations to avoid facing any penalties later on.