Which one is best and why - MT4 or MT5?

Hi all,

I have a demo account with IG and FP Markets (no complaints with either so far) but my question is what do people with trading experience (or new guys/girls) think is the better option for FX trading (and why).

I have read countless comparisons and different brokers pitches as to what each one offers their clients but in the real world when it comes down to it which do you prefer? If neither of these what do you use.

Cheers

when anyone ask to which platform is more appropriate for trading , all credit goes to only MT4 that even i have been using from my first day of trading.

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Thanks @LauChoKun. That’s what I tend to hear but does MT5 cut ‘stuff’ out from what MT4 had? Is MT5 too ‘broad’ and doesn’t focus on Forex and goes more into share trading or what is the downfall?

I am heavily leaning towards MT4 but just wondering why MT5 isn’t an improvement? Is MT4
just more usable?

If your requirement does not involve trading stocks and futures but only FOREX then MT4 is the most tried and trusted platform in the market. Easily manageable and has fewer glitches than any other platform in comparison.

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Thanks @Bipin1800

Thanks @LauChoKun

In my opinion, if you’re new to trading, or are simply interested in trading forex, MT4 is an best choice. If you’re more advanced and want to find additional tools, platform MT5 is certainly worth considering.

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MT4 all the way!, Easier to program EA`s

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Thanks for the input @Da_na :slight_smile:

Cheers! :slight_smile:

But please keep in mind that Metaquotes has stopped selling license for MT4 although existing users can continue to use it.

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I think that MT4 is better in many respects, for example, it’s more convenient for me to work cleanly

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Thanks for your thoughts @Inayandidia. Welcome to the community by the way :slight_smile:

One of the very first platforms for currency trading was MT4. When this program was launched, there were no other quality platforms on the Forex market, so MT4 quickly gained popularity among currency traders. It is one of the most reliable platforms that I’ve used.
An important advantage of MT4 is its stable uninterrupted operation. Many traders refer to this platform as a reliable and high-quality assistant. If you prefer to trade on mobile devices, it isn’t a problem, because this platform has good mobile applications.

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Cheers for the points @Axecliff Axecliff and welcome to Babypips :slight_smile:

To be honest mobile trading isn’t something I would look to pursue but the stability of the platform is certainly a solid point to consider.

I would not recommend using a screen as small as a mobile screen for trading.

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@Bipin1800 Yeah wouldn’t be looking at mobile for reasons you have stated, and also the issues of trading whilst distracted “on-the-go”.

Going back to one of your previous comments could I ask you to clarify what you mean.

I have downloaded MT4 to use with FP Markets (only in the last few weeks).

It means that Metaquotes has stopped selling new licenses to brokers. You were able to download it because your broker already has a license from a time before they discontinued selling it. Also, there is no reason for you to worry, as a trader, because support for MT4 is not discontinued yet. Metaquotes is just encouraging people to use their new product MT5.