I’m interested in the faster execution time and the additional indicators from MT5, since I’m a programmer, the easier programming language would be nice too. But the MT4 is already overwhelming, so I don’t know what the MT5 is going to be like…
But what are you guys using, why and what would you suggest me?
Hi Dmonn,
Personally I use the MT5 platform as it has more features than the MT4 (more order types, more timeframes, etc.). While the gap in terms of features between MT4 and MT5 has significantly reduced over the past months, there are still couple of differences. Here is a brief list: [B]Differences between MT4 and MT5[/B]
If you do not intend to do hedging I would therefore recommend the MT5.
Hope it helps!
Larry
The software developer finally released a beta version of MT5 that features a hedging option. I’m assuming that sooner or later it will be implemented widely by everyone, that option has been very wanted by many people who’ve tried MT5.
It took long enough. I remember being relatively new to Forex trading - not a total newbie, as I already had some knowledge and a little bit of experience - when I decided to try MT5. I installed it, started it, realized there was no hedging option, closed it and uninstalled it. That’s about my experience with that platform. I don’t think I would return to it now, even if that option becomes available, I’m just too used to MT4.
I am a programmer, too. I think that MQL4 is a bit easier than MQL5, but it may be just my own feeling, because I have learned MQL4 first. Anyway, they are currently doing much to reduce the gap between MT4 and MT5. I think they realised that there is very little interest in MT5. I think the worst thing is that there is no compatibility and you can’t use the same software on both platforms. After all, people are used to their indicators, EAs and other tools and they don’t want to leave them just to move to MT5.
I use both as each has it’s good and bad points.
It seems that Metaquotes will gradually phase out MT4.