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METATRADER 4 VS 5 WHICH ONE? Trading Systems 2 October 2016 Traders’ Blogs

It’s worth noting that the developer has imposed a symbol cap on MT4. For example, CMC Markets has over 12,000 total tradeable symbols on its CMC Next Generation platform, but the symbol cap limits CMC Markets’ MT4 offering to 1,024 instruments. https://forex-reviews.org/ Technical analysis tools enable traders to assess investments and identify trading opportunities in the market – whether they are bullish, bearish, or sideways. Common tools for technical analysis include charts, drawing tools, and backtests.

  • Even though both MT4 and MT5 come with several research tools, indicators and analysis tools, the difference in the number of brokers for the two platforms is huge.
  • MT4 also stands out when it comes to automated trading – as most developers choose it over MT5.
  • In MetaTrader 4, you can open as many orders as you want on the same chart.
  • Developed primarily with forex trading in mind, MT4 allows users to trade other products as CFDs.

The MT5 functionality with the upgraded depth of market functions allows you to make money trading futures, options, and other derivatives. If you want to test the MT4 functions https://forex-review.net/ on a demo account, you can download a desktop or mobile version via this link. Then run the installation file – the platform will be installed within 5 minutes.

What is MetaTrader 5 (MT ?

Very likely that you could lose a lot of funds on a single issue like this. You can either work around them or if traders really like a certain feature of MT5, MetaQuotes will sooner or later implement it in MT4 as well, like it happened withMetaTrader 4 for iPhone. These are two completely separate platforms that are being developed in parallel by MetaQuotes Software Corp.

The real reason (I should probably saymainbut I’m going to stick withreal) MetaQuotes developed MT5 is because they want access to markets which they cannot tap into with good’ol MT4. The upgrades offered in MT5 were not sufficient to encourage traders to translate indicators and Experts written in MQL4 into MQL5. The advantages of MT5 are not enough to convince traders to change their usual terminal. The web version differs from the desktop version in that it opens in a browser. There is no need to download metatrader installation file and install the platform. Someone sees convenience in the Webtrader, but I consider the Web terminal a truncated version of the desktop platform.

Is MetaTrader free for me?

But what’s interesting is that just a few months prior to the release of MT5, NFA applied the no-hedging rule to Forex Trading too, basically making MT4 unusable in the US. You see, MetaTrader 4 is great for the decentralized, open, and highly unregulated on a global scale FX market. However, it doesn’t check all the boxes as a platform for other markets. First, in Part A, we will talk about the core differences of MT4 and MT5. And I mean the ones that really matter, not“MT5 has bigger buttons”. MT4 has four types of pending orders Buy/Sell Stop or Buy/Sell Limit.

The programming

You can also customize charts, orders, and more through MT4 as per your own trading preferences. There are many reasons why seasoned traders prefer MT4 and MT5 over a broker’s native web trading platform. At the forefront of this is the sheer number of advanced technical indicators, chart drawing tools, and order types offered. This is highly conducive for traders that rely on technical analysis and pricing research. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are third-party trading platforms.


Our MT4 vs MT5 comparison also found that both platforms facilitate real-time alerts. For example, you can create a custom alert that will notify you when an asset breaches a specific price or when volatility levels increase by a certain amount. Over on MT5, you will have access to slightly more built-in technical indicators at 38. MT5 also has a marketplace that allows you to purchase a custom-built technical indicator. If you’re looking to use MT4 or MT5 because you are an advanced technical trader – it’s important to consider what pricing indicators are supported. As a trader, you might look at the enhanced range of features offered by MetaTrader 5 over MetaTrader 4 and assume that MT5 is an upgraded (and better) version of MT4.


It’s worth noting that forex brokers offering MT4 and/or MT5 may still charge you commissions, spreads, fees, or a combination of such trading costs (depending on the broker and its account offering). MetaTrader 5 is a next-generation trading platform and the successor to MetaTrader https://forexbroker-listing.com/ 4. Like MT4, MT5 is free to use (so long as your forex broker has paid to license the platform for its clients). On the other hand, if you’re interested in trading multiple asset classes, including stocks, futures, and commodities, then MetaTrader 5 may be a better fit for you.

MT4 also supports automated trading through the use of Expert Advisors (EAs), which are software programs that can execute trades based on predefined trading strategies. This platform has many tools to help traders make smart trading decisions, like charts and graphs that show how prices are changing over time. It also lets traders set up automatic trades so they don’t have to monitor the market all the time.

With that said, MT4 is arguably the better option if you are a seasoned currency trader – as more than 1,200 only forex brokers are compatible with the platform. MT4 also stands out when it comes to automated trading – as most developers choose it over MT5. Most notably, MT4 was designed for forex traders while MT5 was developed with stock and futures traders in mind – although both aren’t necessarily limited to each of these pillars.

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