MetaQuotes Software Corporation is the foremost developer of software applications for banks, brokerages, exchanges. The range of software products launched by the Corporation includes the simple platform of FX Charts to the complex and efficient platforms of MetaTrader 4 and MetaTrader 5, or the MT4 and MT5 platforms. Both platforms offer super-fast speed of execution and a wide variety of trading tools. A huge community of brokers from all over the world use MT4 and MT5 to enable their clients to conduct trade on renowned platforms. MT4 and MT5 permit the brokers to get access to live streaming charts and prices for placing orders and managing the accounts. Find out more about the MT4 and MT5 platforms right here.
What is MT4?
MetaTrader 4 (MT4) is a platform for electronic trading that is incredibly popular among retail forex speculative traders. Established in 2005, MT4 is excellent for automated margin trading. The simple and user-friendly interface gives access to advanced trading systems, sophisticated technical analysis, and one of the best forex signal providers.
What are the features of MT4?
The MT4 platform is the oldest platform and therefore vested with various features. Some of the most popular features of MetaTrader 4 include the following:
- The interface of MT4 is very user-friendly, with the chart section in the middle, the indicators, the market watch box, and the navigator box at the top, and the terminal of ten sections at the bottom.
- The user can operate multiple accounts while trading on the MT4 platform.
- The sophisticated ML programming software of MT4 allows advanced and accurate automated trading.
- The MQL4 community base is huge and makes for the best marketplace for traders and brokers all over the world.
- MT4, forex trading software, provides several indicators that include moving averages, Fibonacci, Stochastic trend-line, Money Flow Index, and more.
What are the advantages of MT4?
- The advantages of MT4 are:
- The high-powered software can support thousands of trades in the forex market.
- The 128-bit data encryption algorithm and RSA signature ensure data security on MT4.
- MT4 ensures unique trading experiences for everyone with fully customizable features.
- On MT4, a trader can conduct demo trading as well.
What are the disadvantages of MT4?
The disadvantages of MT4 are:
- MT4 requires 24×7 operation, which causes malfunctioning of the computer system due to overwork.
- Moreover, a wrong order placed through MT4 can incur huge losses.
What is MT5?
MetaTrader 5 (MT5) is an institutional and multi-asset platform that offers excellent trading facilities and a wide range of tools for technical analysis. MT5 also enables the users to take part in copy trading and automated trading through trading bots. MT5 supports excellent trading in stocks, forex, and futures.
What are the features of MT5?
The features of MT5 trading platform include the following:
- The MQL5 environment is highly functional and superior and equipped with the latest technologies.
- Automated trading through trading robots is highly advanced, efficient, and accurate.
- The sophisticated software of MT5 performs in-depth market analysis and offers the most precise statistics
- The forex calendar is highly suitable for the users
- The platform also allows the smooth transfer of funds between accounts.
What are the advantages of MT5?
The advantages of MT5 are enlisted below:
MT5 operates in twenty-one time-frames.
- The platform has thirty-eight indicators
- MT5 offers four types of execution that include Exchange, Request, Instant, and Market.
- The built-in editor of MT5 is highly suitable for the development and back-testing of the user’s expert advisor code. If you want to explore more, browse our list of best Australian forex brokers to get details on various platforms that support MT5.
What are the disadvantages of MT5?
The disadvantages of MT5 are:
- Every EA code and custom indicator of MT4 has to be rewritten for MT5.
- The software of MT5 may contain a few bugs
Comparison of MT4 and MT5
The following are the points of difference in the comparative study MT4 vs. MT5.
- MT4 permits hedging, whereas MT5 allows netting and hedging.
- MT4 has 30 built-in, 2000 custom, and 700 paid indicators, whereas MT5 has 38 technical indicators along with 21 time-frames and 44 analytical objects.
- There is no economic calendar in MT4, which is there in MT5.
Both MT4 and MT5 are the foremost platforms for trading in the industry. Both the platforms excel in automated trading software equipped with expert advisors. Contrary to popular opinion, MT5 is not an upgraded version of MT4. Instead, both the platforms vary in functions and features. While MT4 is specifically for forex traders, MT5 is for trading in CFDs, futures, and stocks. Do your research and find the best platform for you or you can choose one from the best forex brokers available in the market.