MetaTrader 5 Vs 4: Which One Is Best For Traders? Detailed

metatrader 4 vs 5
metatrader 4 vs 5

Even if a Trojan virus enters a computer, the platform is protected from hacking. Traders cannot enjoy automated trading through the web trading platform. MT4 is suitable for retail traders who seek access to CFDs in all currency pairs. For Forex traders, both platforms provide access to over 300+ currency pairs, with commodities and Cryptocurrencies also available.

The list below shows you all examples you can find in the MT4 and MT5. MT5 has many more examples of indicators, but MT4 also has enough of them. Volume indicators are the ones that show you certain volume on the market. Most known areaccumulation and distributionwhere you get information about seller and buyers accumulating after which follows continuation or reversal. The rules are the same as in MT4 where you can send email only between server and trading platform. The new MT5 edition is a strong piece of software with advanced functionality for stock trading and order management.

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They are perfectly suitable for those who are interested in detailed analysis and finding their perfect ways in this area. The availability is similar, but the functionality differs a bit. An easy building of black-box strategies or your own algorithms. Bigger access to financial data in a standardized way without any barriers. One of the differences between MetaTrader 4 and MetaTrader 5 is that they appeared at different times.

Our MT4 vs MT5 comparison found that both platforms look, feel, and operate almost like-for-like. In fact, there is very little to differentiate the two platforms in terms of usability. Crucially, unless your primary objective is to deploy an automated robot or forex EA – both MT4 and MT5 are suited for experienced traders.

Is MetaTrader 4 or MetaTrader 5 a better platform?

In MetaTrader 4, you can open as many orders as you want on the same chart. Such a system allows you to employ locking, open an opposite position with the same volume for a temporary price reversal to pass. The increased number of timeframes is not a great advantage of the MT5.

You can try to rewrite the code yourself by copying the original template into Meta editor 5. On the website or freelance exchanges, you can find a person who understands languages and who, using the indicator source code, will rewrite it into MQL5 for MT5. MT5 has two more types of pending orders Buy Stop Limit and Sell Stop Limit.

However, the 2 platforms serve different purposes and thus are best suited to different audiences — 1 platform isn’t necessarily better than the other. This allows you to choose the trading platform that’s best fitted to your needs without worrying about switching over after a certain date. Function and investment availability may vary depending on which platform you use. The standard MT4 platform includes 30 indicators that you can use to identify trading opportunities.

Key Differences: MetaTrader 5 vs 4

You can trade currencies as well as CFDs on indexes, shares, bonds, commodities, and cryptocurrencies. Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority . The Malta Financial Services Authority is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II . Before opening a live account, you are invited to test out a Tradeview demo account to see if you are comfortable with the platform.

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The software developers team is continuously working on the upgrading and improvement of platform code. The license is affordable for brokers, so the MetaTrader products are more popular than other platforms. Ten years later, it is evident that MetaQuotes underestimated the popularity of the MT4 infrastructure and the mistake in not supporting it. Over 22,000 EAs and scripts will become useless on MT5 and require new programming on the MQL5 language.

Metatrader 4 oder 5?

Traders can use the order window in the trading platform to make new orders; there, they have the options of symbol, volume, stop loss, type, take profit and comment. Traders can even use instant execution to buy and sell securities from the market. The trading platform was basically created for carrying out services that MT4 was not able to perform. With different markets in focus and giving a broader aspect for trading. Although it is a graphical interface and is similar to MT4 it still incorporates a diversification for the traders. Financial markets have been the centre of attraction for years; the traders invest in their capital to generate money and diversify their portfolios.

metatrader 4 vs 5

Then run the installation file – the platform will be installed within 5 minutes. In the „File“ menu, select „Open a new account“ and follow the prompts. In early 2002, the company presented MetaTrader 3, where the programming language and functions’ capabilities were significantly expanded.


That is where you will be spending most of your trading days. MT5 provides access to the foreign exchange, stock, and derivatives markets. With QUIK, you can trade in international stock exchanges.

  • MT5 has more charting tools, technical indicators, and timeframes than MT4.
  • As for the MT5, it offers traders access to many other trading assets as well.
  • Over 22,000 EAs and scripts will become useless on MT5 and require new programming on the MQL5 language.

BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you . Gabi is a former Financial Analyst and Content Editor for BrokerChooser. Previously, she was a European equity reporter at Bloomberg covering European health care and chemical stocks as well as US futures.

You can use the MQL4 to write the code for Expert Advisors, indicators, scripts, and MT4 function libraries. The MQL4 is based on another common programming language C ++. In MetaTrader 5, the developers wanted to change the common system employing the so-called average order accounting system. A trader could open any number of positions on one chart, but all of them were summed up into one order using the offset method.

metatrader 4 vs 5

Bitcoin, Ethereum, and Ripple are some of the most popular trading instruments in the world of evolving cryptos. MetaTrader 4 by MetaQuotes Software Corp has been very popular for over ten years, and you can even download it for free. Still, you need to know what the MT4 platform is and what you can use it for. You can test manual and automated trading strategies on the historical data, evaluate the performance of a trading system, and record the backtesting results to analyze statistics. No other trading platform, except for TM5, has such functions. Another reason for MetaTrader 4 popularity is the marketing and technical support from its developer, MetaQuotes.

Compare our trading platforms

Those objects may detect cycles and support/resistance levels, build channels, and more. On MT5, log files are automatically compressed, whereas with MT4, this is not the warren buffett blasted bitcoin as a worthless delusion and ‚rat poison squared case. On MT5, you can receive codes from the code base, as compressed zipped folders are available on the MT5 platform, and you can store them on your local drive.

On the other hand, MetaTrader 5 offers you hedging as well as netting accounts. Another MT4 and MT5 difference are that Mt4 does not offer traders an inbuilt economic calendar section. On the other hand, MetaTrader 5 comes with an economic calendar section that can be a huge help for traders to stay up to date with the ongoing events in the market. With this mode, orders are being sent to the external trading systems. In general, there are two main types of orders offered by MetaTrader 4. So, let’s say that you want to buy a certain asset but you want to do so at a current price, in this case, you will be using Market Order.