The MT5 Guide: set up your account for gold trading
A short step-by-step guide to installing MetaTrader 5, logging in, adding gold (XAUUSD) and opening your first chart, with a demo account to practise on.
Last reviewed 26 October 2026
Written by The Gold Desk editorial team. Not reviewed by a regulated financial adviser. Educational content, not financial advice.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Educational content only. Nothing here is a recommendation, and no result is guaranteed.
A trading account with a broker that offers MetaTrader 5, such as our partner broker TradeQuo. A demo account is enough to begin.
The account email from your broker (from TradeQuo, if that is where you registered). It contains your login number, password and server name.
A phone or computer, and a stable internet connection.
Start with a demo account
A demo account uses virtual money, so you can learn the order ticket and lot sizes without risking your own capital. Brokers can limit how long a demo account lasts, so check your broker's terms.
Step 1: install MetaTrader 5
iPhone: open the App Store and search for MetaTrader 5. The publisher is MetaQuotes Ltd.
Android: open Google Play and search for MetaTrader 5, published by MetaQuotes Ltd.
Open the app and accept any permission prompts it asks for.
Only install from the official stores or your broker. Lookalike apps and links sent by strangers are a common way to steal logins.
Step 2: find your login details
When you open an account, your broker sends you the details you need to connect. If you registered with TradeQuo, search your inbox (and spam folder) for TradeQuo or MT5. Use the server name exactly as it appears in that email.
Schematic illustrationAn example of the three details to look for. The values shown are made up.
Password safety
Your master password lets someone trade your account. Do not send it to anyone, and be wary of anyone who asks for it, including people in chat groups. If you only want someone to look at your account, ask your broker for a read-only investor password instead.
Step 3: log in
On your phone
Open the MT5 app and go to the settings or accounts area (the exact label changes between iPhone and Android versions).
Choose to add or log in to an existing account.
Search for your broker's name and pick the server named in your account email.
Enter your login number and password, then confirm.
On a computer
Open MetaTrader 5 and choose File → Login to Trade Account.
Enter the login, password and server, then press OK.
Schematic illustrationA simplified login screen. Real screens differ slightly by app version and broker.
If it worked, prices start moving and your account balance appears. If not, use the troubleshooting list below.
Step 4: add gold (XAUUSD)
MT5 lists hundreds of markets. While you are learning, it helps to show only the one you are practising on, because each market has its own lot size and price movement. Mixing them up is an easy and expensive mistake.
Schematic illustrationKeeping gold as the only symbol in your Quotes list.
Phone
Open Quotes from the bottom bar.
Tap the + (add) button and search for XAU.
Add the gold symbol your broker lists, usually XAUUSD.
Remove the other symbols from the list if you want a cleaner view. You can still search for and add them later.
Computer
In Market Watch, right-click, choose Symbols, search for gold and show it. You can hide the rest the same way.
Brokers name gold slightly differently (for example XAUUSD, GOLD or XAUUSD.m). Check the contract details for lot size and tick value before you trade.
Step 5: open the gold chart
Tap or double-click XAUUSD and choose Chart.
Use the timeframe button in the chart toolbar to switch to M5 (five-minute candles).
Pinch or scroll to zoom in and out.
Schematic illustrationTimeframes in MT5. M5 is a common starting point for short-term ideas.
Not sure how to read what you see? Our lesson on how to read gold charts explains candles, trends and support and resistance.
Step 6: practise on a demo account first
Before you put real money behind any trade, make a demo account and place a few practice orders. It is the safest way to learn lot sizes, stop losses and take profits.
On a phone, go to the accounts area and choose open a demo account instead of logging in to an existing one.
On a computer, use File → Open an Account and choose the demo option.
Open the New Order window on XAUUSD, set a small volume with a stop loss and take profit, and watch how it behaves.
Check the server. It must match the one in your email exactly. Use the search box and pick it from the list.
Re-type the password by hand. Pasted passwords sometimes include a hidden space at the start or end.
Look for look-alike characters. A capital letter O and the number 0, or a lowercase l and a number 1, are easy to confuse.
Check capitals. Passwords are case sensitive.
Check your internet. Switch between Wi-Fi and mobile data and try again.
Use the right account type. A demo login will not work on a live server, and the reverse.
Still stuck? Use your broker's password-reset option or contact their support. Never share your password with anyone else who offers to help.
Your setup checklist
MetaTrader 5 installed from the App Store, Google Play or your broker.
Logged in with the right login number, password and server.
XAUUSD (or your broker's gold symbol) added and the chart open.
A demo account created for practice before real money.
Your password kept private and saved somewhere safe.
Need a broker account?
The Gold Desk works with TradeQuo, which offers MT5. You can register with TradeQuo through our link. We may earn a commission if you do, at no extra cost to you. Offers and terms are set by the broker and can change, so check them before depositing. Not available to residents of the USA. Trading CFDs carries a high risk of losing money. Using TradeQuo? See our TradeQuo MT5 Guide for the exact steps.
The Gold Desk shares XAUUSD signals on Telegram, with entry, stop loss and targets on every call. Signals are educational ideas, not advice, and no result is guaranteed. Not directed at residents of the USA. Join the free Telegram channel.