do you recommend metatrader 5 for a newbie like me? i have less than a month learning about forex and I want to start practicing somewhere. someone suggested metatrader 5 but I want to know if would be the best for someone as new as me.
The platform doesn’t matter that much.
But to answer your question, yes why not!!!
Meta Trader 4 is the well established dinosaur but it is very well established, and MT5 isn’t backwards compatible with MT4 so unless there was a killer MT5 feature you need, I would stick with MT4
MT5, like any platform, will have a learning curve. MT4 is probably the most used platform out there because of the ecosystem around it, in add-ons and developers.
But double-check with your preferred broker. Some brokers may offer both, some just MT5, as Metaquotes, the company behind Metatrader, stopped selling MT4 licenses to new brokers. MT4 is almost 15 years old. Metaquotes wants you on MT5.
You might also want to have a look at Tradingview. They’re integrated in may brokers’ web platforms.
MetaTrader 4 is better for newbie. But you should keep in mind that MT4 is designed for CFD forex instruments, whereas MT5 is an all-in-one state of the art multi-asset trading platform, covering both centralised and non-centralised financial markets, including, stocks, futures and FX trading instruments. MT5 is faster and more efficient, also it has more indicators.
With MT4 you can make use of market orders, pending, stop and trailing stop.
The type of execution is instantaneous.
The best of Metrader 4: technical analysis through more than 30 built-in indicators, more than 2,000 user indicators you can download them free from its Code Base library…
Interactive and unlimited charts you can open all the charts you want at the same time from which you can trade directly. On them you can configure up to 23 analytical objects: lines, channels, Gann, Fibonacci instruments, figures, arrows, etc. My LVM Trade brokers run that platform and it’s really cool
Unless you are also involved in trading stocks and futures, MT4 is the best platform to start with.
I, personally, prefer Metatrader 4. That said, keep in mind it’s no longer being developed - the software developer Metaquotes stopped doing that a while ago and moved onto Metatrader 5.
Metatrader 5 is a good platform. It is a user friendly and glitch free platform. It is an upgraded version of Metatrader 4. You can also trade cryptos on Metatrader 5. It offers features like separate trading and ordering accounts. helps you to forecast the movements of prices of various financial instruments
Metatrader 5 is an advanced version of Metatrader 4. It offers trading in forex, stocks, futures, cryptos, commodities and indices. You can perform technical analysis on it and open multiple charts as well. You can make a choice by choosing which instruments you wish to trade. Both the platforms are equally good.
I agree but unless you are also involved in trading stocks and futures, MT4 is the best platform to start with.