Post Image
Many Forex traders can hardly answer the question about the differences between the current trading platforms – Metatrader 4 and Metatrader 5.   At first, it seems that MT5 should definitely be better. However, for some professionals, this is not the case. In this article, we will look at the difference between metatrader 4 and 5, and discuss their advantages and disadvantages.    

Advantages of MT5 – do they really exist?

Many beginners who have just started to learn Forex are sure that MT5 is much better than MT4. Why?  

Interface

The truth is that the appearance of the workspace of both terminals is practically the same. So if you’re hoping for some special visual enhancements in version 5, you’re likely to be disappointed. Yes, the gradation of timeframes has become wider in MT5 (with a smaller step). However, in MT4 such a division can be organized using special scripts that are available on the Internet.  

Availability of additional features

The MT5 platform offers its users two very useful built-in tools:  
  • «order book»;
  • the possibility of trading in one click.
  For example, the first tool is very familiar to those who actively trade in the stock market and is undoubtedly necessary for experienced Forex traders. However, there are 2 similar applications for MT4 that provide the trader with exactly the same opportunities. An analogue of the Depth of Market for the fourth version is called Market Depth, and One Click Trading. We should also mention the built-in tool for wave analysis lovers – a special markup for Elliot waves.  

Economic calendar

The trader has the opportunity to view economic events directly on the calendar built into MT5. This innovation is really very useful and convenient, but only for beginners. An experienced trader has long found a Forex calendar suitable for himself on another resource, and, as practice shows, he still continues to use it even when switching to MT5.  

Which platform is better to choose for Forex trading?

Absolute beginners who are just starting to learn how to trade Forex should definitely choose MT5. One way or another, this trading platform is the future, and inexperienced traders may well master it and create a good foundation for successful trading. In addition, MT5 works with five-digit quotes, which makes learning this platform quite promising.   For experienced individuals who are used to working with MT4, switching to MT5 can be painful in every sense. A lot of tools will stop working, a bunch of new nuances will emerge that will hurt not only the trader’s psyche, but also his finances. Therefore, here you need to carefully weigh the pros and cons. The question of a complete rejection of MT4 is not yet raised, so for now, you can confidently continue working with this platform.   However, it is necessary to be interested in all the possibilities of MT5 in order to be ready to switch to it in case of emergency.  
You might also like:
This article was first published on 18th May 2023 and updated on May 23rd, 2023 at 8:44 am

guestpost

Comments (7)

7 thoughts on “What is the difference between Metatrader 4 and Metatrader 5?”

  • Peter

    Metatrader 4 (MT4) is famous for forex trading, while Metatrader 5 (MT5) delivers different asset classes and advanced features.
    Click here https://zacharylipsonrealtor.com/ Real Estate Advisor Services in Washington DC

    Reply
  • Mark Duke

    Check over here for an abundance of valuable information on topic. Our website offers in-depth articles, practical tips, and helpful resources to support your learning.

    Reply
  • MCA Leads

    I’ve never seen a post as good as this one. Click here to visit our about page and learn more about who we are and what we do: Leads for MCA (Merchant Cash Advance) are prospective customers who show interest in obtaining financial support through this flexible funding option. These leads are vital for MCA providers, as they represent potential clients actively seeking accessible and quick capital, making them the lifeblood of growth and success in the competitive financial market.

    Reply
  • Direct Macro

    The difference between Metatrader 4 and Metatrader 5 is like comparing different CPU processors – each has its strengths and capabilities. It’s essential to choose the one that aligns with your trading needs and preferences. Make an informed decision for a seamless trading experience!

    Reply
  • jonkolton

    Discover new horizons with FinBiz Tech. We invite Free Guest Posting Sites contributions, providing a stage to exhibit your mastery in diverse fields. Partner with us to elevate your website’s prominence on finbiztech.com.

    Reply
  • Ken Miles

    Navigating Metatrader platforms is like choosing the perfect baby remote teether. Understanding nuances, ensuring optimal performance, and soothing concerns. Just as MT4 and MT5 cater to traders, teething tots find solace in the right teether, making both choices crucial for smooth experiences.

    Reply
  • Americans Outfit

    The Harley Quinn Red Blazer adds a pop of rebellious flair to American fashion. With its vibrant hue and edgy design, it embodies the bold spirit of individuality. A statement piece that exudes confidence, it captures the essence of modern style with a hint of playful rebellion.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *