What is “Depth of Market” on MT5 platform? How to use that tool?

“Depth of Market”(or DoM) is a trading tool to see the market liquidity, as in the depth of the liquidity available in the certain financial market.

By referring to the “Depth of Market” window, you can see how much order(liquidity) is available in the market at which price.

It is a useful tool to know which currency at what time is more liquidated, and for trading “Scalping” using the “Depth of Market” window.

“Market Liquidity” is very important aspect to know for traders, because if there is no enough liquidity available in the market to match your orders, your orders won’t executed or get slippage to find the next available price.

To open the “Depth of Market” board on MT5, please right click on the “Market Watch” window and select “Depth of Market” as below.

Then, you will see the market liquidity of the selected symbol in the “Depth of Market” board.

The “Depth of Market” board looks like below.

The list of prices in red, are the “Ask” prices, and the list of prices in blue are the “Bid” prices.

The “Volume” column shows the available liquidity in the market. 10.00 volume means there is 10 standard lots of available liquidity in the market.

Of course, if your order is more than the available volume, your order will get slippage or won’t executed.

It is very normal that there is only 10 – 30 lots of liquidity available in the market at each moment, for retail Forex market.

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