mt4 or mt5?

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OscarR

OscarR

Well-Known Member
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
 
OscarR said:
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
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MT5 is faster and more efficient than MT4, but it doesn't replace the previous platform as it is different and simply offers more than MT4 does. MT5 provides the ability to trade more instruments in almost all financial markets, including Forex, stocks, indices, commodities, and even cryptocurrencies.
 
You offer me to change mt4 into mt5? Do I then need to switch brokers? How would that affect my prior trades? I apologise; I just want to ensure that nothing will happen to my trades. I've never changed it before.
 
Ethan.ishere said:
MT5 is faster and more efficient than MT4, but it doesn't replace the previous platform as it is different and simply offers more than MT4 does. MT5 provides the ability to trade more instruments in almost all financial markets, including Forex, stocks, indices, commodities, and even cryptocurrencies.
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the ability to trade crypto is Broker dependent, not MT5 dependent.
MT4 is supported by more Brokers than MT5

tradingplatforms.com

MT4 vs MT5 - Which is The Best Trading Platform To Use in April 2024?

Can't decide between MT4 and MT5? If so, this article makes a full MT4 vs MT5 comparison to find out which platform is best.
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I completely agree. I'm happy with MT4 right now, but I'm curious if MT5 is suggested by others or not. thanks my friend.
 
OscarR said:
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
Click to expand...
Here are some of the key differences between the two:

  1. Financial Instruments: MT4 primarily supports forex trading, while MT5 offers a broader range of trading instruments, including stocks, futures, and commodities, making it more versatile for accessing different financial markets.
  2. Market Depth Display: MT5 features a market depth display, which provides information about the prices and available volumes for financial instruments at different price levels. This feature is not available in MT4.
  3. Timeframes: MT4 offers 9 timeframes for charting, which is suitable for many traders but can be limiting if detailed analysis is required. MT5, on the other hand, provides 21 timeframes, allowing for more precise analysis.
  4. Economic Calendar: MT5 has an integrated economic calendar that includes news events and forecasts directly on the trading platform, which can be highly beneficial for trading based on financial news.
  5. Order Types: MT5 supports more order types than MT4. For example, MT5 has both "Stop Limit" orders and "Fill or Kill" orders, which are not available in MT4.
  6. Programming Language: Both platforms support automated trading systems called Expert Advisors (EAs). However, they use different programming languages; MT4 uses MQL4, while MT5 uses MQL5. MQL5 is more powerful and allows for more complex trading strategies and faster execution.
  7. Hedging: MT4 allows for hedging, where multiple opposing positions can be held in the same account, which is a common strategy in forex trading. MT5 originally did not allow this, but updates have made hedging possible.
 
MT4 is ideal for forex with its user-friendly tools, while MT5 supports multiple assets and offers advanced features for complex trading
 
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