MetaTrader 5

About the MetaTrader 5 Connector

The MetaTrader 5 Trading Platform supports operations with different asset classes, including Forex and Futures.
With MetaTrader 5, your traders are equipped with convenient and powerful trading functionality. The flexible trading system with Market Depth and support for all order types enables traders to execute any trading strategy on any financial market. The platform provides the netting system for trading exchange instruments and the hedging option for full-fledged Forex trading.
In addition to the outstanding trading functions, you can offer professional technical and fundamental analysis tools to your traders. The platform ecosystem includes an impressive set of tools and services, through which your traders can use trading robots, copy deals of other traders, trade from mobile devices and any web browser. All these features are available in MetaTrader 5.
MT5 Connector supports only Non-Hedged accounts. Before you start please clarify with your broker, if your broker account is assigned to a non-hedged account group
Please note that all MT5 charts will be running in the timezone of the MT5 server, which is not always the same as the timezone of your TradersYard X or your PC. This behavior is expected and results from the fact that TradersYard X has to exactly mirror the charting behavior in MetaTrader 5
The maximum number of real time charts in MT5 is 100.
However, please keep in mind that this number does not exactly mean that you are allowed to load 100 MT5 instruments in your TradersYard X. The number can be lower in the following cases:
  • Multiple charts running in different time frames for the same instrument
  • Some charts have been opened manually in MetaTrader 5 and are running without the MtApi5 expert indication
  • Running MtApi5 expert charts for which TradersYard X has not been subscribed to (leftovers from other connections)

Connection settings in TradersYard X

Here are instructions on how to connect to MT5:
In order to start the connection process, please download and install MetaTrader 5. The installer can be downloaded from here
  • Please go to Account Connection and click on Add
  • Select MetaTrader5 Connector as a Provider and enter your desired Connection name
  • After pressing Next, please enter the installation location of your MetaTrader 5.
  • In the MT5 DataFolder field please enter the path to your MT5 DataFolder.
There are two ways of finding the MT5 DataFolder location:
  • Open MetaTrader 5 and press: Ctrl+Shift+D
  • Open MetaTrader 5 and go to -> File -> Open Data Folder
By default MetaTrader 5 Data directory located at:
By default, the MetaTrader 5 data directory is located at C:\Users\UserName\AppData\Roaming\MetaQuotes\Terminal\DataFolder name
  • In case you would like to run the MT5 terminal, please activate the checkbox Run MT5 Terminal on connect. By activating the checkbox Close MT5 Terminal on disconnect you allow TradersYard X to automatically close the terminal.
  • Select your Trade Server
You can connect to any trading server, just type your Server name into the Trade Server field. Please note that the Trade Server name is key sensitive and must be exactly the same as the server name in the MT5 platform.
  • Enter the MT5 Account- Login for your trade server
  • Enter the MT5 Account - Password for your trade server
If your MT5 is running on a server or a virtual machine, leave the checkbox Run MT5 Terminal on connect disabled and enter Host, Expert Port and Server Port instead of Trade Server, Login and Password.
Click on Next.
  • In the next dialog please select your MetaTrader5 Connector-Broker and click on Finish

MTApi5 installation

After finishing the MT5 connection setup in TradersYard X, the MTAPI5 needs to be installed. This API is required for allowing 3rd party trading applications like TradersYard X to communicate with MetaTrader 5.
The installation starts automatically right after the first connection attempt to the MT5 Connector in TradersYard X:
  • The Setup Wizard will start. Please click on Next
  • Activate the checkbox I accept the terms in the License Agreement and click Next
  • As your setup type choose Typical
  • Click on Install (admin rights required)
  • In order to complete the installation process please click on Finish.
After finishing the installation of MTAPI5, it is required to restart TradersYard X. Please allow it to restart before continuing by clicking on Yes.

Last modified 1yr ago