For those who trade manually , perhaps Meta Trader 4 is not much different from Meta Trader 5. But for those who use algorithm for trading, Meta Trader 5 is especially important. There are new indicators in Meta Trader5 . It is recommended to use Meta Trader 5 for programming. Also in Meta Trader 5, including: types of command execution, technical indicators, graphic shapes, time frames, strategy tester, etc., there are many options compared to Meta Trader 4. It also adds meta 5 charm by adding new options such as economic calendar, chat, market Depth, etc.
I do totally agree with the idea that mt5 is better and modern in comparison with mt4. I mean that I can see lots of opportunities for algotrading, like the writer has mentioned in this article. I think that mt5 fans should definetely think of switching to mt5 in the nearest future in order to be more efficient on the market. Surely, mt4 is a great trading platform but future belongs to mt5 I guess.
There will be no difference for you if you trade manually. Mt5 is more about algotrading. I feel that the biggest advantage of metatrader 5 here is the fact that it is possible to write a trading bot in python and you don’t need to learn mql programming kanguage which is weird and useless in most of the cases. You can simply install the moduly which is actually called metatrader 5 and do all the programming in python.
Thanks for the information. Meta5 is the advanced version of meta4, where there is no such limitation in creating your own bots with meta5.
I feel that mt5 is a more updated and modern trading platform. Surely, mt4 is a nice platform but I think that it will become outdated in the nearest future because its functionality is still a little bit limited especially comparing to the functionality of mt5.
One major difference between the MT4 and MT5 is the type of traders it attracts. MT4 is mainly used by traders focused on the forex market while the MT5 is a complete state of the art multi-asset trading platform that has wider applications such as contract-for-difference, stocks and futures trading etc.
MT4 was actually designed for forex traders while MT5 is designed to offer easy access of CFDs, stocks and futures to the traders. Contrary to popular opinion, MT5 is absolutely not an upgrade to MT4.
More assets, more indicators, more time_frames, economic calendar, option to Dock the charts for those who use multiple monitors…etc Mt5 is like a more Professional trader friendly.
I’ve been wanting to know the answer to this and finally I was able to come across this thread and it’s put an end to my curiosity. Special Thanks to the contributors
hard agree, each of them have their own merits. That why MT4 is still in popular for forex trading even tho MT5 came out a long time ago.
MT5 exclusive features:
Trade additional markets besides Forex (stocks, futures, options and bonds)
More time frames (+12)
More built-in indicators (+8)
Extra chart tools (+13)
Create own EAs without programming skills
New EA backtesting capabilities
Position netting and partial order fills
Depth of the Market (DOM)
Built-in economic calendar
Embedded MQL5 community chat
MetaTrader Market - a built-in online store with EAs and indicators
Transfer funds between accounts
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Your comments have been useful for us to get to know these two platforms and their differences. Thank you for your contribution.
The server setups for MT4 and MT5 are not identical. When compared to MT4, MT5 is faster because of the enhancements. MT4 was created to make trading non-Forex CFDs easier. They are programmed in distinct languages, and MT5 enables faster backtesting than MT4. Unlike MT4, MT5 has a DOM (depth of market) feature and is theoretically supported by MetaQuotes.
Choosing between MT4 and MT5 is entirely a matter of personal preference. However, for beginners who are primarily trading forex, MT4 may be a better option due to its ease of use.
Even though both are automated trading systems, there are quite a few significant differences between MT4 and MT5. MT4 only allows hedging while MT5 permits both hedging and netting. MT4 is curated for CFD forex instruments whereas MT5 is a comprehensive state of the art multi asset trading platform that covers both centralised and non centralised financial markets. Lastly, MT5 is faster than MT4 and is a multi-threaded platform while MT4 is a 32-bit, mono-threaded platform.
MT4 was designed to trade forex while MT5 was created to enable easy trading in non-forex CFDs. Different programming languages are used by both MT4 and MT5. Faster backtesting and depth of market functionality is used by MT5 and it includes types of command execution, technical indicators, graphic shapes, time frames and strategy testers, economic calendar etc.
I only use mt4, but want to look at mt5
Even though both offer pioneering automated trading systems, MT4 and MT5 have quite a few significant differences. MT4 was built for forex traders while MT5 was curated to offer traders access to CFDs, cryptos and futures…
In my opinion there’s not much difference between the 2, both have a similar interface and are intuitive.
Yeah! MT5 feels much more advanced with thanks to addition of more indicators, timeframes and many more features that MT4 missed. They have mentioned in here which I thought would be a good idea to check: Comparison of the MetaTrader 5 and MetaTrader 4 platforms
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Since MT5 is the latest version, it is supposed to have more features. I have been using MT4 since the beginning of my trading days, so I am so used to it. I tried MT5, but it did not offer much for me. Thus, I switched back to MT5 and happy with MT4. One thing that may make me change my mind, if MT5 offers chart with more options when you zoom in.