How many of you use MT4 or MT5? Share your experiences!

[tom_magar]

Hey friends, just curios to know that still you guys using mt4, i am thinking to trade on mt5

[aliimam]

If MT4 works, I don’t want to waste time learning new things. Although MT5 offers more features, I find MT4’s simplicity and efficiency work better for me. No need to change platforms when this one does the job.

[Valetax]

@tom_magar

Hey friends, just curios to know that still you guys using mt4, i am thinking to trade on mt5

Hey! Great question—both MT4 and MT5 are solid platforms, and a lot of traders still use MT4 because it’s simple, reliable, and has tons of indicators and expert advisors available. It’s been around for years and gets the job done, especially for forex.

That said, MT5 is definitely a step up if you’re looking for more advanced features. It supports more timeframes, faster execution, economic calendar integration, and is better for trading other assets like stocks or commodities. If you’re just starting, MT4 is a great place to learn. But if you’re ready to explore more tools and flexibility, MT5 is worth the switch!

[TYGMedia]

@tom_magar

Hey friends, just curios to know that still you guys using mt4, i am thinking to trade on mt5

Hi @tom_magar,

I stopped using MT4 since 1-2 years ago. Better to use MT5, since it has no significant different with MT4, unless you are running specific EA in MT4.

I like MT5, because I can trade different TF, such as 10 minutes and 2 hours chart. Some instrument needs this TF.

One more thing, at this moment, MT5 can be used to filter out bad broker. MT5 license is different with MT4. It’s harder for bad broker to use MT5. (But not possible).
Similar to cTrader, hardly can be used to scam.

[Tin_Pan_Ali]

MT4 is no longer updated or supported by its manufacturer, Metaquotes.

It’s kind of “on the way out”.

[Some retail CFD traders, and a lot of EA sellers, are slightly slow to stop using it because their EAs are specific to MT4, though many now have MT5 versions available, too.]

[HenryWhyte]

@Tin_Pan_Ali

Some retail CFD traders, and a lot of EA sellers, are slightly slow to stop using it

Unregulated brokers who use the MT4 ‘dealer plug in to steal their customers’ funds aren’t exactly encouraging people to switch from MT4, of course … and there are hundreds of them.

It’s really important for people to avoid MT4-only brokers, because they’re more or less advertising their dishonesty with a big red flag, to people who understand how the industry works (while obviously trying to attract specifically the noobs who don’t!).

[peterma]

Older versions of MT4 & 5 will be no longer supported from July this year

The programme will automatically update to newer & supported versions in any event.

Support for older versions of MetaTrader 4 and MetaTrader 5 to end on July 1 - News - MetaQuotes

[alenmiz]

Thanks for sharing, i also heard that ios has delisted mt4 and mt5. Do you know what’s the reason. what are the better options for platforms?

[transcendentalist]

@alenmiz

what are the better options for platforms?

CTrader and TradingView.

[USDxxJPY]

@HenryWhyte

It’s really important for people to avoid MT4-only brokers, because they’re more or less advertising their dishonesty with a big red flag, to people who understand how the industry works (while obviously trying to attract specifically the noobs who don’t!).

This is putting it mildly.

Some unregulated, high-leverage brokers are offering “remarkable” incentives, bonuses and affiliate commissions to get people to open MT4 accounts while they still can! All big, red flags, of course.

[ChampagneCocktail]

@USDxxJPY

Some unregulated, high-leverage brokers are offering “remarkable” incentives, bonuses and affiliate commissions to get people to open MT4 accounts while they still can! All big, red flags, of course.

Of course, but the people experienced or astute enough to know that incentives and bonuses and commissions and affiliate payments are such big red flags aren’t part of their target market. They want only the inexperienced, unastute ones.

(Probably also the exact same ones who don’t know anyway that high-leverage means “unregulated”. But that’s another subject!!).

[peterma]

@alenmiz

Thanks for sharing, i also heard that ios has delisted mt4 and mt5. Do you know what’s the reason. what are the better options for platforms?

Apple removed Metaquotes back in 22 & reinstated in 23 - not sure the reasoning.
Both mt4 & mt5 still available.

[SchmaltzHerring]

@Valetax

If you’re just starting, MT4 is a great place to learn.

Honestly this is shockingly bad advice!! It just couldn’t be more wrong. There are 100 threads and 1,000 posts in the forum explaining why. In great detail.

It’s dreadful, having to correct the horrendous misinformation dumped here by people bumping non-current threads to post for promotional reasons.

But many thanks to the super moderators for deleting their other posts when they more blatantly advertise.

[Thira]

MetaTrader users who aren’t profitable traders might find this brand new thread interesting …

How I Got Burned by a Fake Broker Using the Virtual Dealer Plugin (and What I Found Out)

Hi everyone, I’m new here. My name is Miss Meme (yes, that’s really my name – and yes, I know how it sounds). I’m a school teacher by profession, not a financial expert, but I’ve always believed in learning and doing my homework. Unfortunately, I only started investigating after I got scammed. I invested $500 with what I thought was a legit broker using MetaTrader 5. The site looked professional, they had friendly support, and I could log in and see my trades. Everything seemed fine… until the…

[mirkop94]

mmh, to be fair mt4/5 are very outdated. That’s my opinion

[KrisValtysdottir]

@mirkop94

mt4/5 are very outdated. That’s my opini

Mine also. I was actually warned off these platforms even before I started.

[mirkop94]

Yeah, the only good thing about those platform is that you can build a lot of different indicators very easily, but im not even into that haha I don’t use indicators only price action.

[ReachFluent]

MT5 is really good - it offers advanced features like order handling, a built-in calendar, and the multi-threaded strategy tester (which I use quite a lot). I’ve been using it with fxview for a while now and haven’t faced any issues. But I need some help with plugins, my broker provides that but not sure how to install it in MT5. Any help would be appreciated!

[DominiqueAbecassis]

@KrisValtysdottir

I was actually warned off these platforms even before I started.

It’s good news, really, for all of us, that there’s now a younger generation of traders around who can say this.

On one hand, you want to get advice from people with long experience, but on the other hand they can often not be the most up-to-date sources of information!