MetaQuotes Software developed both MT4 (MetaTrader 4) as well as MT5 (MetaTrader 5). These platforms are well-known for being the most popular in the trading world. Many traders use them daily due to the excellent service they offer. However, there are differences between these platforms. It is important to be aware of them in order to choose the best one for you.
MetaTrader 4, which was first released in 2005, has become the most widely used platform for forex traders. It allows easy access into the financial market, which is why it is so popular. Although initially designed for mt5 trading, today, it can be used to trade stocks, indices and other assets. It is easy to use and can be customised, which makes it a popular choice for both newbies and more experienced traders. Trader’s have the ability to create the strategies they desire thanks to the many advanced tools that are available.
MT5 trading platform was introduced in 2010 and it is a multi asset platform. It’s faster, more efficient, and newer than MT4. However, it cannot replace MT4 entirely as it has many different features. It is able to trade instruments in virtually every financial market, including cryptocurrency. MT5 offers advanced technical analysis and features like trading robots.
MT4 utilises MQL4 while MT5 employs MQL5 programming languages. MT4 has no partial order filling policies, while MT5 has one for its users. MT4 doesn’t allow funds to be transferred between accounts. However, MT5 offers this feature. MT4 lacks it. On the other hand, MT4 is great for beginners because it is easy to use and was designed to meet the needs of traders.
From the above comparison, it is evident that MT5 offers more features than MT4. However, it does not make it any better than MT4. Both platforms have their advantages and disadvantages. Traders can choose the platform that suits them best. If you are new to mt5 trading, then MT4 is the right platform. It has all the features you need. If you are familiar with MT4, after some trading experience, you can move to MT5 if more features are required.