I support the recommendation above for Tradingview. It’s beautiful easy and surprisingly powerful.
I think MT5 is marginally better than MT4 but honestly, they’re both so bad it doesn’t make much difference.
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It is relative question to answer since each platform is efficient and traders needs to select platform as per their own needs. And many people think that MT5 is an updated version of MT4, which is not true. MT5 is better for centralized market while I think MT4 is better suitable for decentralized market. However, it does not mean that MT5 is not used in decentralized market.
Yes, tradingview is very much clean environment! Besides, I agree with your opinion on the differences between Mt4 & Mt5.
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Both mt5 and mt4 looks like a trading software from early 90’s not much changed, actually almost nothing 
tradingview is far far away from all those oldies but still not the best.
In MT4 you can open Buy and Sell Trades simultaneously, but in MT5 suppose you have a BUY trade open and you want to open a new SALE trade,the previous BUY trade closes down.
No one’s mentioned Ctrader (Video) which is one of the most modern, feature packed platforms out there with an abundance of FREE Indicators and EA’s.
And the Ctrader Automate Platform (Video) for Algorithmic Trading design and backtesting…
Light Years ahead of MT4 and MT5…
For discretionary trading I prefer CMC Market’s brand new HTML5 trading platform, it’s sophisticated and chic. For automated trading I would go for MT5/MQL5. MQL5 is more difficult to learn than MQL4 (OOP etc.), though, that – together with old habits and comfort – is the main reason why so many still stick with MQL4. But MQL5 is more powerful and still being enhanced with cool new features. Moreover, MetaQuotes recently announced that no new MT4 licences will be granted and no new servers allotted to already existing MT4 brokers. So MT4 will finally die out and there’s no point in taking the trouble to learn a deprecated software from scratch. And cTrader is neither as powerful as MQL5 nor as cool as CMC’s platform and resources/support are very limited, plus it’s restricted to Windows.
This doesn’t happen on my broker using MT5
Because, Mt4 & Mt5 is much popular trading platform than cTrader.
MT5 is better, for the simple reason that it is multithreaded, where as mt4 is single threaded, and there are many other obvious advantages to mt5.
If you are just learning mt5 is the best one to learn as thats what MOST traders will be forced to use in the future as mt4 is dead (VERY SOON) as reported by its maker.
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But MT5 is slow in phones to navigate. I had a try but navigating was a problem.
Apparently Ctrader and Calgo Platform isn’t available in the US…
Between them… Wall Street and the Dodd Frank have got US traders by the short and curlies…
this is not true anymore. You can have hedge account or non hedhe account.
ctrader looks good but does it have a wide variety of profitable EAs? I’m new to forex and from what I have been reading, MT4 has the largest selection. But I have heard it’s not that great (incorrect display of indicators,clunky, etc). Also the UI looks so dated.
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Hi @Lil_Pip_Lea, Ctrader has undergone a massive upgrade since this my last post in this thread.
EA’s for Ctrader can be found here… Indicators here…
Yes, as I’ve shown many times, the amount of EA’s and Indicators for MT4 is mind boggling…
Profitable EA’s from either Platform is debatable… Develop your own is the best way forward
Also have a look at the TradingView Platform… it looks as good as Ctrader…
Regarding which platform is better, I would advise you to install both and test both. See for yourself which one you like more. And by test I don’t mean trade for a few days, you need to test them for weeks, even months before you decide.
Has anyone used Ctrader and MT5
Which one has better user experience??
Hello,
In my opinion the Meta Trader 5 is the better option, as on the MT5 there are more functionalities as 2 more types of Pending orders, Strategy tester, Custom time frames etc.
If I need to choose between the MT4 and MT5 Platform, I would prefer MT5. I won’t mention any other platforms because the question is only about these two but basically MT4 and MT5 are easy to use, at least for me. And I think they are easy for newbies as well. I like the MT5 more because it has more options and features like more indicators, more time frames, more information could be shown on the charts and there is a news calendar as well which could be rather helpful. The minus of both platforms is the lack of Mac versions, instead you need to install additional software which replicates Windows OS and sometimes this has a negative impact on the stability of the platforms.
Personally, I use and I like MT4, but Metaquotes stopped developing that platform while MT5 is getting new features and development. They even rolled out an update to include negative pricing for assets because of the WTI Crude Oil historic crash back in March.
It’s good to keep that in mind when picking a platform. I probably should move onto MT5 but I am so used MT4, I don’t know how I’ll do it.