What are the benefits of using MT5?
Knowing the advantages of MT5 can increase our desire to use it. MT5 has an internal calendar and MT4 does not, or for example that MT4 has 9 time frames but MT5 has 21-time frames. MT5 is faster MT5 is a 64-bit, multi-threaded platform, while MT4 is a 32-bit platform.
There are 30 technical indicators in MT4, but 38 in Meta 5. The number of order execution types provided in MT4 is 3, but MT5 is 4. There are 31 graphical forms in MT4, and 44 in Meta 5. The accuracy of data modeling in MT5 is much higher than MT4. MT4 offers only Hedging accounts, while MT5 offers both Hedging and netting accounts.
MT4 strategy tester is single-threaded, but Metatrader MT5 5 includes a multi-threaded strategy tester and you can test multiple strategies at the same time. In Metatrader MT5 5 historical data are available and you can get them in less than 1 minute. In MT4, this data must be loaded manually
MT5 was created specifically with stock and futures traders in mind. Adding net accounts, market depth and different types of orders makes MT5 Metatrader 5 a better environment for trading in other markets.
MT4 offers FOK (Fill or Kill) orders that cannot be partially filled. MetaTrader 5 offers IOC and Reverse orders. IOC orders allow you to enter trades partially, after which the order is canceled. Back orders allow you to open an order that has been partially filled.
Programming languages have come a long way since MT4 was created. MQL5 is a more modern language, very similar to C++.
Basically, MetaTrader 5 was developed for non-Forex trading such as stocks and commodities. Because this platform has a better ability to connect to centralized markets.