MT4 vs MT5 ??? - Page 3
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Thread: MT4 vs MT5 ???

  1. #21
    Join Date
    Dec 2016
    Location
    Australia
    Posts
    95
    Quote Originally Posted by matty1938 View Post
    Can anyone suggest an alternative then? Is cTrader any good?
    The cTrader Platform is very solid, I use it and find it stable and feature full. Can run EA's and has a huge range of free Indicators and cBots which are available from cTDN.com

    MT4 felt clunky to me, but to be fair I have only had a 2 hour play with it. When I find the time I would like to learn it properly. There is always something to be said for Industry standard software.....

  2. #22
    Join Date
    Feb 2017
    Location
    Japan
    Posts
    12
    Quote Originally Posted by goldencookie View Post
    Hi, I am new to forex but I am a software guy. So when I see MT4 and MT5 and that most brokerages state MT4 I ask why? Can MT5 be used on an MT4 account? Is it the same protocol just different interface or?

    Software people are always wanting to use the latest version, right?!
    MT4 fan here
    MT4 just have lots of EAs floating around than MT5. Personally I like MT4 more because when I was a newbie I played with different EAs and most of the good EAs that I found wont work for MT5. Though they basically are the same I just got more fond of using MT4. Problem with MT4 that it's a bit buggy and crashes sometimes. Also I remember that there were times that I had to reinstall the program several times when crashing becomes frequent.

    I remember that when I first joined the company that I was the only one who used MT4 because I can't read the platform that they are using plus I was reliant on indicators back then. When I shifted doing fully naked charting I also shifted and just used whatever platform (or whatever pair) that I was instructed to trade on. I often like to use the barebones platform and as long as it has a Line Chart or Candlesticks, I'm ready to go... One platform that I can't use is the just the Price Platform which has no chart on it. Some of my seniors just look at the price list and just place trades using the telephone. Honestly I don't know how they do it.

    I also know some privateers who are using MT4. I can't say that they are not pros because they were corporate traders back then but the majority of the guys (including myself) just use whatever platform their brokers have since most of us don't use indies. I think it doesn't really matter if you use MT4 or whatever platform you like to use as long as you are making money. Remember that I'm a MT4 fan and I really do like it though I'm not using it anymore. If you like making EAs then I guess that MT4 is a good start. Don't worry too much if you are not using a similar platform that the pros prefer using as I told you that I can't still use the Price Only Platform (no chart) that some of my seniors are using. Some of them are just waaaay out of our league so don't worry and use whatever platform you want to use as long as you bring in the cash

    Anyway, here is a photo of my chart which I'm trading now. It doesn't really matter what platform you use as long as you are comfortable with it. What suits me may not suit you.

    Name:  Screen Shot 2017-03-16 at 02.56.11.jpg
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  3. #23
    Join Date
    Feb 2017
    Posts
    2
    hey guys. I know I'm off the subject, but idk where to ask. What is the difference between EURUSDpro and EURUSD? I'm using MT4 and on a regular EURUSD it does't give me as much tools as on a EURUSDpro. and all the regular pairs that are not "pro" are highlighted with red. I have a demo account with 10K on it. Please help.

  4. #24
    Join Date
    Feb 2016
    Posts
    148
    Quote Originally Posted by Tituzabu View Post
    hey guys. I know I'm off the subject, but idk where to ask. What is the difference between EURUSDpro and EURUSD? I'm using MT4 and on a regular EURUSD it does't give me as much tools as on a EURUSDpro. and all the regular pairs that are not "pro" are highlighted with red. I have a demo account with 10K on it. Please help.
    Hey there
    I believe this is something related to the specifications of your broker so you better contact it and ask for clarification. If you have intentions for the future to go live with any broker make sure you have understood all the conditions/specifications and other details using it’s demo account. Usually demo and live should be 100% similar (except for slippage) to each other.

  5. #25
    Join Date
    Mar 2017
    Posts
    24
    As I know MT4 is better for Forex trading and MT5 is better for stock market, metall trading. I tried MT4 only and it's functions enough for complete trading.

  6. #26
    Join Date
    Feb 2017
    Posts
    2
    Thank you so much!

  7. #27
    Join Date
    Jun 2016
    Posts
    199
    Quote Originally Posted by Tituzabu View Post
    hey guys. I know I'm off the subject, but idk where to ask. What is the difference between EURUSDpro and EURUSD? I'm using MT4 and on a regular EURUSD it does't give me as much tools as on a EURUSDpro. and all the regular pairs that are not "pro" are highlighted with red. I have a demo account with 10K on it. Please help.
    I agree with eyedfondue. This definitely should be connected with the instruments that your broker offers. It might be an instrument on a Close only mode. Or available only for VIP or "higher" accounts (I don't know who is your broker and what types of accounts are offered). So it would be better to contact the support and clarify it.

  8. #28
    Join Date
    Aug 2015
    Posts
    112
    My opinion is that MT5 is more functional and reliable. Besides, MT5 has stronger protection, which doesn't allow to draw quotes in it. Why don't brokers install themselves MT5? Maybe it's expensive, maybe other reasons. But if the broker lets you decide between MT4 and MT5, I'd choose MT5.

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