Differences Between Metatrader 4 and Metatrader 5

[moonchild]

As we all know there are two different types of trading softwares that are known by retail traders the first one being meta trader 4 and the Meta trader 5.

Most of us started out with meta trader 4 as our main software for trading.

Meta trader 4 supports currency pairs and provide a wide array of instruments to choose from, it has a higher order execution rate.

Most traders consider it the pioneer of the mobile trading era.

Meta trader is also a product of Metaquotes company, which specializes in integration of real time chart data.

Metatrader 5 on the other hand is an upgrade from Metatrader 4 and it is all from the same company.

It supports more trading instruments than Metatrader 4, like stocks and indices like ger40, DAX and also it supports synthetic indices too like boom and crash and volatility indices, range break, jump indices and many more.

It also has a smoother interface than Metatrader 4, and it also comes with refined tools that makes chart analysis easier.

I personally use Metatrader 5 because it execute my trades faster and I also get to trade different instruments from stocks to currency pairs and also synthetic products.

 

[Jasz]

Metatrader 4 and Metatrader 5 are both trading platforms developed by MetaQuotes just as stated above, but they have their uniqueness.

While Metatrader 4 was released in 2005, Metatrader 5 did not launch until 2010. At first glance, the two platforms share many similarities. They have similar interfaces, similar symbols and charts, and similar trading orders and execution.

However, there are also some key differences that traders should know about before they use one platform or the other. For example:

- Metatrader 4 only allows hedging while Metatrader 5 allows hedging as well as netting; this means users can trade on multiple accounts at the same time with different strategies based on those accounts’ needs.

- Metatrader 4 supports algo trading for Expert Advisors (EAs) but does not support algo trading for indicators or scripts; Metatrader 5 supports algo trading for all three of these items and gives users more freedom when it comes to customizing their platforms.

- Metatrader 4 has nine timeframes while Metatrader 5 has 21; this means that traders will have more flexibility when it comes to how much detail they can see in their charts.

-MT5, however, has a larger community of developers than MT4—and the community around MT4 is shrinking as developers switch to supporting MT5. It also offers a wider range of order types and execution modes, so you have more flexibility in how you manage your trades.
You can make more research to know more about their differences.

 

[Dita Walczak]

Metatrader 4 and metatrader 5 both are trading platforms equipped with a all necessary indicators. Mt5 is a little bit updated from the other one. Traders select one of these platforms according to their knowledge and understanding level. Like, I understand mt4 well and that’s I trade on this platform. Eurotrader provides a technical errors free smooth trading platform.

 

[Asahi]

Make portfolio of your capital to survive in Forex for a long time. The best way to survive in Forex is making portfolio because avoiding mistakes completely is impossible. It makes it difficult for traders to survive for long. Eurotrader broker offers different types of accounts to traders using which traders can easily make their portfolio.

 

[Ivo Zetticci]

Mt4 and mt5 both are widely traded trading platforms allowing traders with a wide range of trading facilities and mt5 offers traders more flexibility than the other ones. FXOpulence offers an advanced mt5 trading platform which is free of slippage and requotes.

 

[FXOchartist]

Main difference between MT4 and MT5

• MT4 only have system pending order buy stop, sell stop, buy limit and sell limit.
  MT5 added two system pending order namely buy stop limit and sell stop limit.
  
• MT4 tradable asset only for forex, future, and CFD
  MT5 has more tradable asset includeing stocks, bonds, and futures.
  
• MT4 not available integrated economic calendar
  MT5 intergrated economic calendar.
  
• MT4 available hedging system or locking position to mahage the risk
  MT5 no hedging system
  
• MT4 more compatible in windows 32bit despite run in 64 bit operating system
  MT5 more compatible for windows 64 bit
  
• MT4 using mql4 codebase
  MT5 using mql5 codebase
  
• MT4 support of 9 types timeframe
  MT5 support of 21 types timeframe

Trading with FXOpen broker, I still use TickTrader and MT4 platform so far because still comfortable use it despite this broker support MT5 too.