MT4 vs MT5 for beginners

Is the MetaTrader4 (MT4) or the MetaTrader5 (MT5) the better trading platform for a new trader? I am looking for the most user-friendly trading platform that a beginner will find easy to use.

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MT4 for sure. Its used by the majority and has all available indicators and tools youll need as a beginner so of these are not available on mt5

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While I agree with Craig as the most suitable platform for newbies is MT4, mainly because EAs in circulation are mostly designed for this platform.

However, I use MT5 which is an update on MT4 because for example, I can use multiple time frame charts to my suiting - whereas MT4 is limited. It also has as many indicators and tools as you would need.

I could suggest you open 2 demo accounts, to trial both - see what one suits you best.

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I’d recommend you use your brokers platform (assuming they have one) unless you plan to automate your trading.

MT4 and MT5 are the oldest trading platforms… I learnt trading on MT4 itself… So far I find this platform much more useful than anything trader platform.

MT4 is much better established and the most used I believe, but MT5 is going to be the main player in the future.

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You should use Mt4. It is easier and common too.

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It depends on what you want to trade if it’s commodities and indices, it’s better to use the MT5 since it’s best suitable, and for forex trading, the MT4 is the best because it’s simple to use and common among traders.

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I have been using the MT4 for 10 years now :slight_smile:

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I think novice traders should not go to the current cryptocurrency exchanges. Many exchanges have been investigated, which may cause your account to be insecure. If you need help, you can talk to me.

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Thanks CraigForex2020!

I have been engaged in stocks, funds, currencies, and investment for many years. I was an analyst at JPMorgan Chase for 3 years, including familiarity with many platforms, such as MT4, Huobi, Binance and other platforms. I think I can help you choose if You are interested in

Personally, I learned on MT4 and I found it perfectly serviceable, but I know MT5 has been developed a lot since then.

Both are good platforms; I suggest using the MT4 for forex trading since it’s best-suited for it and the MT5 for CFD trading.

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For beginners, the MT4 would be suitable because they are a simple trading software platform for beginners to trade live with ease compared to the MT5.