Mt5 or 4? And the reason?

Trading Systems
1

My broker advised using mt4 on advantage of hedging.
Is there any reason mt5 better? I read it can hold more chart.

2

Depends what you trade really. MT4 is primarily forex but MT5 you can trade CFDā€™s stocks and futures.
Also depends on the timeframes you trade - a couple of timeframes are not available on MT4 (I think H6, H8 & H12?).
Personally I use MT5 for the additional timeframes as I need them in my strategy and I find it alot quicker than MT4.
If you arenā€™t already ā€˜fluentā€™ and all set up with MT4 then I would recommend MT5 as it will give you more options down the track.

Downside though - some EAā€™s are only coded for MT4 as it has been around for a long time. Donā€™t think this will be an issue in your situation though.

Goodluck,
Nate

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3

Correct. With MT4 having been around the block (it was released in 2005), the ecosystem around it is established and very active (community, plugins, developers, EAs). MT5 is the newer and supposedly better brother/sister, so says the developer, Metaquotes.

Have a look at the features comparison between the 2 versions.

Be aware that Metaquotes has stopped selling new licenses to brokers in an effort to move them to MT5. I imagine at some point in the future, they will also stop supporting MT4. But MT5 has been around since 2010, so it isnā€™t a ā€œnewā€ or untested platform.

As for hedging, my understanding is the feature set related to this is the same, as of build 1325 released in 2016.

BP writers covered this a couple years back too.

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4

MT5 definitely! Itā€™s more advanced and offers more assets to trade.

5

MT5 is an upgrade and much more advanced when it comes to assets for trading, but people tend to stick with MT4 for the nostaglic feeling. But I will say that I find MT4 to be quite effective and doesnā€™t feel like shifting to MT5, unless if something bad happen to it.

6

Contrary to the popular opinion MT5 is not an upgrade of MT4. MT4 was built for trading currencies while MT5 was designed to trade currencies as well as CFDā€™s, stocks and futures.

7

It can, but MT4 is best for beginners. You will not really be using the increased number of charts and the pending orders that MT5 offers, so MT4ā€™s cool.

8

If you are just starting out then the additional time frames and pending orders of MT5 are not going to offer you anything extra. You can go ahead with MT4 if you want, itā€™s totally up to you. BTW hedging is possible even in MT5. I have been using this trading platform on Turnkeyforex and Admiralmarkets for quite sometime now and totally find it possible to hold different positions for 1 symbol. What you can do is create demo accounts with both MT4 and MT5 and see which one you find better in terms of functionality.

9

I somehow feel that MT5 is way better. It has more features and timeframes, maybe thatā€™s why I prefer it. The option to trade futures and stocks is definitely a plus.

10

I like both MT4/5. There are surely some differences between the two like technical indicators, market depth, availability of economic calendar, order execution types, pending orders, fund transfers, etc. I have different accounts with some brokers and I use both these platforms.

11

Thatā€™s the way to go. I also use MT4 on fxtm and MT5 on fxview. I honestly canā€™t decide which trading platform is better as Iā€™m comfortable with both of them. I find the interface of both user-friendly.

12

Most people Iā€™ve met favor MT4 and use it even when there is an advanced MT5 platform available. Personally I like MT4 too. It is way too easy to use and there is a lot of familiarity with it. I donā€™t care about the other options as long as I get to trade forex peacefully.

13

MT5 shouldnā€™t be considered as an upgrade of MT4. They are both different and are good for trading. Iā€™ve been using MT4 with Pepperstone and was looking for a change when I started trading on Acttrader on Fxview. The response time on Acttrader is very impressive and Iā€™ve been using it more often of late.

15

Before choosing a trading platform, you will have to tell us what you trade. If you trade forex, then MT4 would be a good choice but if you want to trade other securities, you will be good with MT5. For me as a forex trader, MT4 works really great and I have no plans of changing it.

16

I donā€™t think there is any comparison between the two trading platforms. They are both good in their own ways. As a forex trader, I prefer MT4 as it is simple to use and highly flexible. And for the rest of the instruments, MT5 is the trading platform that I use.