Hi all, I am new to forex,I have seen many traders using (meta Trader) MT, also I did some research got to know Meta Trader is good for Forex trading. As I’m new, I don’t know which one is good MT4 or MT5, and easy to understand for beginner. Any one using MT can share the knowledge and help me to understand MT app.
Well my first go to platform is tradingview but if I have to choose between mt4 and mt5, I would choose mt4.
2 Likes
I personally like MT4 as it’s super easy to use, especially if you’re just getting started.
MT4, MT5…what about the most important thing-your trading strategy and plan?
2 Likes
Honestly, just start with MT4. It’s the classic for a reason, super easy to use and tons of tutorials out there. MT5 has some extra stuff but MT4’s got everything you really need when you’re just getting started. Once you’re chill with that, you can always try MT5 later.
3 Likes
Same here. Despite all the new platforms and features out there, I still stick with MT4. It’s simple, reliable, and does everything I need. A great way to learn the basics without getting overwhelmed 
1 Like
MT4 has been around longer and is widely used, especially by forex beginners. It’s simple to use, offers plenty of custom indicators and automated trading tools, and works well if you’re mainly trading currencies.
MT5 is a newer version with additional features like support for stocks and futures, more timeframes, an improved economic calendar, and enhanced analysis tools. It can feel a bit more complex at first.
If you’re just starting out and focused mainly on forex, MT4 might be easier to learn. But if you want a platform that offers more features and can handle other markets, MT5 is worth considering.
If possible, try both using demo accounts to see which one you find more comfortable before trading with real money.
Metaquotes is trying to sunset MT4. I’ve tried it on demo many many times. Don’t like it, but the ecosystem of indicators and other traders is huge. I use Tradingview.
1 Like
I’d totally recommend starting with MT4. Think of MT4 as the chill, no-nonsense guy who’s super easy to use and perfect for beginners.
MT4 is just about to retire in my opinion since the mt5 is already rolled out in the market and the mt4 is also not available on playstore when accessed from certain devices.
I use MT4. When I started with it in 2021 they said, “Nobody uses MT5”. That changed in 2022. Anyway. Does anybody know if it hard to learn mql5 if you know a bit of mql4?
I’d recommend starting with MT4, it’s easy to use, tons of tutorials out there, and most brokers support it.
Miss.Ara, am with you on this one. I prefer MT4 to other more advanced platforms out there. Almost can’t do without it.
1 Like
Tradingview:))) Lol. Really, I don’t care much which one to use 4 or 5, as I adjust depending on the broker’s offer. If it offers MT4, okay, I’ll go with it. If it offers MT5 I’ll go with MT5. But talking about objectivity, I think newer one is better. More indicators, more tools and in general better workflow, especially on lower timeframes. Anyway, it’s much easier to find a good broker with MT5
1 Like
I use tradingview for analysis. Mt4 I have always used for trading, I guess I am old school lol. Always used it and never needed to change.
The same. But Mt4 looks like, as the kids would say, something from the 1900s. It’s so bad visually.
Does mt5 look better then?
MT4 definitely has that old-school look, but it remains popular due to its simplicity, reliability, and broad broker support. While MT5 is more powerful and offers advanced features with a modern interface, it hasn’t fully replaced MT4 yet. Many traders prefer to stick with the platform they know, and not all brokers have fully embraced MT5.
MT5 isn’t a “replacement” for MT4. It’s different.
MT4 is for CFD’s only. Many other kinds of financial instruments are tradable with MT5.
It was never intended to “replace” MT4.
The ones who haven’t don’t want their customers switching, and the normal reason for that is that they’re brokers using the Virtual Dealer plug-in, and they’re not properly regulated and not safe to use anyway, and have no profitable customers, and they keep things that way by offering high leverage to customers gullible enough to imagine that’s an “advantage”, and not to understand why proper regulation should be everyone’s essential, non-negotiable starting-point. 
In any case, using MT4 is one of the worst mistakes a beginner can make, for a whole variety of reasons.
It doesn’t even display all the basic indicators correctly.
These two recent threads are both very helpful …
5 Likes
Welcome to Babypips, Sam, and thanks for one of the best “first posts” I’ve ever seen. 
I hope you won’t mind my mentioning that that’s also true of MT5.
TradingView and especially cTrader are both excellent platforms for anyone starting out.
Using either MT4 or MT5 is just stacking the deck against yourself. (More so with MT4.)
2 Likes