Deriv MT5 toolbox: Your trading sidekick

Let’s dive into the Deriv MT5 toolbox – your go-to feature for managing trades, monitoring accounts, and more.

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A quick note:

Everything we're about to discuss is based on the full-featured Deriv MT5 desktop terminal. The web and mobile versions might have some slight differences, but the basic principles are the same.

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Why the Metatrader 5 toolbox matters

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This is where you keep tabs on your trades, monitor your account, get the latest market news, and even set up automated alerts. It's like having a personal assistant for your trading journey!

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Understanding the different tabs in the MT5 toolbox

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• Trade tab: Here you'll see all your open positions (trades you're currently in), any pending orders (trades waiting to be executed), and crucial information about your account balance, margin, and equity. You can even close or modify trades right from this tab!
• Exposure tab: Want a quick snapshot of how your trades are doing? This tab shows you a summary of all your open positions, so you can see which assets you're exposed to and how much you've invested in each.
• History tab: This is your trading diary. It keeps a detailed record of all your past trades, wins, losses, deposits, and withdrawals. It's a great way to review your performance and see where you can improve.
• News tab: Stay in the loop with the latest financial news and market updates from around the world. This tab keeps you informed about events that could impact your trades.
• Mailbox tab: Important messages from Deriv land here. It's like your trading inbox – make sure you check it regularly for any announcements or updates.
• Calendar tab: This handy tool shows you upcoming economic events and data releases that could cause market volatility. It's like having a sneak peek into potential price movements, helping you to stay ahead and plan your trades effectively.
• Alerts tab: It’s your way to stay updated without constantly watching the markets. Set up alerts for specific price levels, news events, or anything else you want to be notified about.
• Articles tab: Want to learn more about trading strategies or automated trading systems? Access educational articles and tutorials from the MQL5 community. It’s a great resource for learning new trading strategies and tools.
• Code Base Tab: Here you can find free Expert Advisors, Indicators, and Scripts available for download. Explore, install, and apply these tools to enhance your trading.
• Experts tab: This tab logs all the actions and errors of your Expert Advisors. It’s essential for monitoring their performance and troubleshooting any issues.
• Journal tab: This tab records every action and event on your Deriv MT5 platform. Use it to review your trading activity and address any problems that arise.

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Making the toolbox your own

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The beauty of the Deriv MT5 toolbox is that you can customise it to fit your needs. Rearrange the tabs, add or remove columns, and tailor it to your trading style.

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Ready to explore?

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Open up your toolbox and start poking around. Click on different tabs, see what information is available, and get a feel for how it all works. The more you use it, the more valuable it'll become in your trading journey.

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Remember: Knowledge is power! The more you understand the tools at your disposal, the more confident you'll become in your trading decisions. So sign up for our free MT5 courses and get ready to put those skills to the test with a free demo account.