Would you guys move over to MT5?

jessoprules 2018-11-05 20:00:20 UTC #22

Thank you for explaining.
I have no interest in trading stocks though.

goldberry 2018-11-06 11:36:56 UTC #23

i am using MT4 at the moment but actually thinking of trying out MT5 as well. and as for the broker part, i don’t think i will, i am very much satisfied with my broker. so if he asks me to shift i will.

Johnno2626 2018-11-07 10:12:47 UTC #24

Just finished testing and can say there is no big difference except it is based on a new coding language. So lots of EAs and Indicators that are built for this platform and a few I liked in MT4 I can no longer use.

MT5 isn’t a game changer but not worse then MT4.

I’m trading with Pepperstone who gave me loads of EAs and Indicators that work with MT5, so had a lot of fun playing with these. Their Smart Lines tools was really cool (diagonal stop losses).

They also offer a $5 commission on their Razor account for 6 months, down from $7. I wonder why they are dropping their commission so low…

jessoprules 2018-11-07 12:37:22 UTC #25

THanks for that.
I use JAFX myself but always good to know about the other options.

eyedfondue 2018-11-08 15:44:10 UTC #26

I heard JAFX had legal issues with the authorities of the USA and some other financial regulators regarding providing (accepting) clients from the US without permission. Also on money laundering and other shady practices.
That on top of the fact that they are an unregulated broker tells me not to touch them even with a 10 foot pole.

A1lenTrader 2018-11-08 16:57:38 UTC #27

MT4 has 9 time frames MT5 has 21 and you can trade from tick chart…
MT5 has few new indicators
MT4 EA’s won’t work on MT5 different language
Hedging wasn’t allowed on MT5 not sure if it is now.
MT4 is lighter and easier on pc resources
Also on MT4 you have the option to not allow DLL’s…!!!

ContinuousMoon 2018-11-09 14:31:12 UTC #28

As someone who is brand new to trading, and someone who has lots of experience in IT, I would suggest that MT5 is probably going to be the only choice at some point in the future. I’m working a demo account with a broker that only does MT4 (they have other choices as well; but not MT5); but I’m considering changing to one with MT5 as I figure that will be the only choice at some point down the road so I might as well get used to what will likely be the new standard.

Nothing stays the same. The world seems motivated to keep us all on our toes. Might as well embrace it. Now, if there would be a native Linux installation, I wouldn’t even hesitate!

webguy7 2018-11-09 14:34:49 UTC #29

I practised trading with MT5, testing it out… From what I’ve seen the advantages of MT5 are few. The biggest advantage is more time frame choices. Overall, it’s worse than MT4 in one primary way- indicators don’t work as well, and even the built-in standard indicators in MT5 don’t work as well as in MT4. All the new MT5 indicators I tried stank. MT5 is designed (even more than MT4) to cause traders to waste money.

jessoprules 2018-11-12 07:55:09 UTC #30

Totally fair enough!
Personally I have never had any issues so will be staying with them but I have read what everyone has said with interest.

purtle 2018-11-12 21:25:13 UTC #31

Being that you can now also trade (select brokers) using TradingView - what would be MT5’s advantages over TV? If your broker supports trading via TV?

jessoprules 2018-12-14 08:43:12 UTC #32

Can someone please break down the advantages of mt5?

jingoy 2018-12-14 14:27:50 UTC #33

though hotforex do offer the mt5, but i guess ill stick with mt4. i just got used to it and it seems a hassle to move everything. or i could be wrong.

Johnno2626 2019-02-04 10:58:33 UTC #34

MT5 has been a winner for me!

Molly141 2019-02-04 11:19:50 UTC #35

Excuse my naievety but what is the difference?