How to Use the MT5 Smartphone App: Login, Orders and Stop-Loss Explained
Are you unsure whether you can really place orders and set stop-losses in the MT5 smartphone app?
In short, it is safest to try the full set of operations on a demo account, then move on to real trading with a small amount.
This article covers login, orders, SL/TP, closing positions and notification settings, using the terms of the standard MetaQuotes app.
In short: learn the MT5 app on a demo account first
- To log in, you need three things: the broker's server name, account number and password
- Orders, changing SL/TP and closing positions are done from the Trade screen in the bottom menu
- At first, try everything from a market order to closing on a demo account
- Trading on a phone alone requires preparing for mis-taps and lost connections
Installing the app and logging in
The standard MT5 app is a free app provided by MetaQuotes. You can get it from the App Store on iPhone and Google Play on Android.
- 1
Install the app
Search for "MetaTrader 5" in the store and install it. Confirm that the provider is MetaQuotes.
- 2
Choose to log in with an existing account
After first launch, choose "Login to an existing account" from the settings screen and search for the broker name.
- 3
Select the server name
Select the server name given in your account opening notice. Demo and real accounts may have different server names.
- 4
Enter your account number and password
Enter your account number (login ID) and trading password. You cannot place orders with the investor (read-only) password.
Screen layout: Quotes, Chart, Trade and History
The main screens are lined up at the bottom of the app. Knowing what each is for first makes it less likely you will get lost.
| Screen | Main role | Common actions |
|---|---|---|
| Quotes | List of symbol prices | Add or reorder symbols, open a chart |
| Chart | Candlestick display | Switch timeframes, add indicators, place orders |
| Trade | Open positions and balance | Change SL/TP, close positions, check margin |
| History | Past trading results | Check profit and loss by period |
Adding symbols and basic chart settings
- 1
Open the Quotes screen
Choose "Quotes" in the bottom menu and tap "+" at the top right.
- 2
Find a symbol
Choose from a category, or type something like "EURUSD" in the search field. Available symbols differ by broker.
- 3
Add the symbol
Tap "+" next to the symbol name to add it to your Quotes list.
- 4
Open the chart
Long-press a symbol in the list and choose "Chart" from the menu.
- You can switch timeframes from 1 minute to monthly from the menu at the top of the chart
- You can add indicators from the "f" icon at the top of the chart
- Standard indicators such as moving averages and RSI are available
- The screen is small, so showing about two indicators keeps it readable
Placing a new order: market, limit and stop
You can open the order screen from the order icon on the chart screen or from the long-press menu on a symbol. First, let's sort out the differences between order types.
| Order type | What it does | When to use it |
|---|---|---|
| Market order | Buys or sells at once at the current price | When you want to open a position right away |
| Limit order | Fills when price reaches a level more favorable than now | When waiting for a dip to buy or a bounce to sell |
| Stop order | Fills when price moves in a less favorable direction than now | When riding a move that breaks a high or low |
- 1
Check the symbol
Open the order screen and confirm that the symbol you are trading is correct.
- 2
Enter the volume
Enter the lot size, such as 0.01, in the Volume field. Watch out for decimal-place mistakes.
- 3
Enter SL/TP (optional)
Enter the stop-loss and take-profit prices. You can place an order with them blank, and set them later.
- 4
Tap Sell or Buy
For a market order, tap "Sell" or "Buy" to execute. For limit and stop orders, choose the order type and price.
How to set and change SL/TP
SL and TP are settings that specify the stop-loss and take-profit prices. For a buy position, SL goes below the current price and TP above. For a sell position, it is the reverse.
- 1
Open the Trade screen
Choose "Trade" in the bottom menu to show the list of open positions.
- 2
Long-press the position
Long-press the position and choose "Modify" from the menu.
- 3
Enter the prices
Enter prices in the S/L and T/P fields. If you get the direction wrong, you may get an error.
- 4
Save and check
Tap "OK" to save, and lines appear on the chart. Check that the prices are correct.
How to close positions: full and partial
- 1
Long-press the position
On the Trade screen, long-press the position you want to close.
- 2
Choose "Close"
Choose "Close" from the menu to open the close screen.
- 3
Check the volume
The Volume field shows the full amount you hold. For a full close, leave it as it is.
- 4
Reduce the volume for a partial close
To close only 0.03 lots of 0.10 lots, set the volume to 0.03 and close. The rest stays open.
- A full close closes the entire amount you hold at once
- A partial close reduces the volume to close part, and you keep holding the rest
- Depending on the account type (netting or hedging), the way you hold the same symbol differs
- After closing, check the result on the Trade and History screens
Checking history and profit and loss
- On the History screen, you can switch periods to check profit and loss
- The display can be switched between positions, orders, deals and other units
- Profit and loss may include swaps and commissions
- Many cashback systems calculate returns from lots, and you can check lots in History
- Return amounts are not yet confirmed, and we will post them on each broker's page at launch
Setting up push notifications
- 1
Allow notifications on your device
In your iPhone or Android settings, allow notifications for MetaTrader.
- 2
Check your MetaQuotes ID
The app's settings screen shows the MetaQuotes ID for each device.
- 3
Register it in the PC version
Enter this ID under Notifications in the options of PC MT5, and the PC can send notifications to your phone.
Cautions when trading on a phone alone
A phone is handy, but compared with the PC version it is more affected by operating errors and the connection. EAs (automated trading) cannot run on the phone app alone.
| Risk | What can happen | Example countermeasure |
|---|---|---|
| Mis-taps | Mixing up lot size or trade direction | Always recheck lot size and direction before ordering |
| Lost connection | Closing or changing SL/TP does not go through | Set the SL before you hold a position |
| Small screen | Harder to grasp the whole market | Confirm important decisions on a larger screen |
| App problems | It will not launch or the display freezes | Restart or update before you trade |
Before you order, check the profit or loss per pip from the currency pair and lot size. It is also a guide for deciding your SL distance.
Calculate the value of 1 pipFAQ
Q.Can I trade using only the MT5 smartphone app?
Yes. New orders, changing SL/TP, closing positions and checking history can all be done on the phone app alone. However, running EAs and using custom indicators require the PC version.
Q.What should I do if I cannot log in to the MT5 smartphone app?
Recheck the three items: server name, account number and password. The server name may differ between demo and real accounts, or you may have entered the investor password. If it is not resolved, contact the broker.
Q.How do I set a stop-loss in the MT5 smartphone app?
On the Trade screen, long-press the position, choose "Modify" and enter the price in the S/L field. You can also enter it in the same field on the new order screen when you place the order.
Q.Can I close only part of a position in the smartphone app?
Yes. Reduce the volume in the Volume field of the close screen and execute, and only that amount is closed. Handling may differ by account type, so try it on a demo account.
This article is for information purposes only and is not investment advice. Conditions may change, so please check each broker's official page for the latest information. Offshore FX and CFD trading carries a risk of losses exceeding your principal.
