HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
XM information and reviews
XM
86%
NordFX information and reviews
NordFX
86%

MetaTrader4 vs. MetaTrader5


A trading platform is basically a workspace for AMarkets traders, their work environment. The quality of trading depends on its functionality and convenience. Many market participants prefer to trade using the Metatrader platform. In this article, we’ll take a look at the two versions of this software – MetaTrader4 and MetaTrader5.

MT4 has been on the market for more than 10 years, many traders still opt for version. We have already reviewed this platform in our previous article, so let’s focus more on Metatrader5.

MT5 is not some modification of the MT4 platform. It has additional features and was created using a completely different programming language. However, the developers did leave the same parameters and the already familiar interface with the same blocks, like in MT4. The platform turned out to be user-friendly with a few new features. However, MT5 is far from perfect, and there is still much room for improvement. Despite its shortcomings, the platform still has good potential.

MetaTrader5 features

Difference between the two platforms

First of all, the platforms were developed using different programming languages. MetaTrader5 uses MQL5 which is incompatible with MQL4 of MetaTrader4. Also, in MT5 the number of timeframes was expanded from 9 to 21. Both platforms include tools for technical analysis, but while MT4 offers 30 indicators, MT5 offers 38. In the 5th version, the strategy tester is more advanced, which allows faster and more effective analysis of various trading strategies.

In the fifth version, developers added a special store – MetaTrader Market, where a trader can purchase robots, indicators and trading applications. MT4 doesn’t have this feature. MT5 provides sound alerts and push notifications, which can be sent to your phone or received via e-mail.

Summing up

Experienced traders, accustomed to MetaTrader4, may encounter certain inconveniences when switching to MetaTrader5. Many tools do not work here, many new features appear during trading, and this can negatively affect both the emotional state of the trader and his trading performance. Therefore, before switching to MT5, we recommend you consider all pros and cons.

#source


RELATED

What are CFDs?

Have you heard about CFDs? If not, you probably wonder: "What is a CFD?". CFD stands for "contract for difference". It is a contract between two parties, a "buyer" and "seller"...

What is a Fan Token?

With the invention of social networking sites such as Facebook, Instagram, and YouTube, you can now engage and connect with famous people continuously. The cryptocurrency industry...

Addressing Trading Biases: Managing Psychological Factors In Day Trading

In the intricate world of day trading and investing, psychological dynamics play a crucial role in shaping decision-making and overall success. Traders, regardless of their level of expertise...

A Beginner’s Guide to Bonds – How and Where to Buy and More

Besides forex and stocks, bonds are another popular class of securities that attract many investors. In fact, bonds are traditionally a core component in many types of portfolios, most famously in conservative strategies...

What Is Bitcoin and How Does It Work?

You must have heard about it. The first and most famous cryptocurrency has been in the headlines due to a vertiginous increase in value, breaking the threshold of $1,000 for the first time on 1 January 2017...

What is forex and how does it work?

Throughout history, we have seen the transition of trading from one form to another. From the exchange of one material to another and this hasn't stopped for a moment...

How to start trading in Forex for free: first steps

A simple web search query "how to trade in Forex" will yield dozens of on-site and online classes for beginners and traders of various experiences...

Everything You Need to Know About Margin Trading

Margin trading is a popular method used by traders all over the world. It can offer attractive opportunities, but as with any form of trading there are no guarantees and the level of risk must be taken...

Cryptocurrency Trading for Beginners: Best Strategies and Patterns

Today, there are almost 19 thousand cryptocurrencies in the world. On the one hand, this is a huge opportunity! For comparison, only a few thousand companies...

Top commodities to watch in 2024: gold, oil, and others

As we progress through 2024, the commodities market is emerging as a key area of interest for investors seeking to diversify their portfolios and hedge against inflation. With insights from Kar Yong Ang, a financial analyst at Octa broker, we explore the most promising commodities of the year, including gold, oil, lithium, and others, and provide strategies for traders to navigate these opportunities effectively.

The Worst Mistakes to Avoid When Trading Forex

When someone tells you that trading Forex is easy and you can make tons of money with a few flicks of a finger, know that he is either a fool or a charlatan. Before...

Top Trading Picks 2024: Mastering the Financial Markets for Optimal Success

As we step into 2024, the financial markets offer a kaleidoscope of opportunities for both novice and seasoned traders. With an overwhelming array of advice on financial planning and investment strategies...

Everything you Need to Know about Precious Metals

There has been consistent growth for all the most popular metals this year, with the demand for gold and other precious metals spiralling. Due to a significant trend...

Stop Loss: the lifeline of every trader

Stop Loss (SL) is one of the most important concepts in the FX market. Every trader has the opportunity to benefit from this trading tool.

Four Ways to Use Your Red Envelope Money as a Trader

Lunar New Year is a major historical and cultural festival celebrated by millions of people around the world, particularly the Chinese, Vietnamese, and Korean communities...

How to trade smart during the coronavirus outbreak

You are more likely to panic when your investments drop and quickly sell out your assets, however, this is not the best way to react when the markets go down...

10 Reason to Trade Forex

Foreign exchange, or more colloquially known as forex or FX, is the buying and selling of currencies to make profits based on the changed currencies' values...

Understanding Copy Trading: A Comprehensive Guide

Copy trading, an increasingly popular strategy in the world of online trading, offers a unique opportunity for individuals to mirror the trades of experienced traders...

Trading styles

Like every other trader, whether you are a novice trader or talented expert in the field of trading forex, you come with your own unique trading style. No two traders are alike...

History of derivatives. Part 1. What are financial instruments?

You’ve been hearing about trading instruments here and there. This article will briefly introduce you to derivatives, forwards, and futures. Get comfortable and enjoy interesting information...

Vantage information and reviews
Vantage
85%
FP Markets information and reviews
FP Markets
81%
IronFX information and reviews
IronFX
77%
T4Trade information and reviews
T4Trade
76%
Exness information and reviews
Exness
76%
Just2Trade information and reviews
Just2Trade
76%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.