The Difference Between The Two Platforms MT5 and MT4 Leading Online Forex Broker Forex Trading

These include high-low indicators, Renko indicators, chart group indicators, and thousands of others. You can find many indicators online, and even create some yourself. Both of these platforms are very good, but there are some differences between them.

  • The person wishes to execute trades from their platform must buy a lifetime license or lease the platform on a timely basis.
  • Crucially, unless your primary objective is to deploy an automated robot or forex EA – both MT4 and MT5 are suited for experienced traders.
  • Getting your own MT4 demo or live account is quite easy at AvaTrade.
  • While trading Forex online has now become easier than ever because of powerful platforms like Blueberry Markets, it can still feel incredibly overwhelming to get started with it.
  • Custom technical indicators are now easier to search and install.
  • MT4 lack this benefit because you can’t know what the real volume of trades completed.

Therefore, there is a possibility to increase the uses of those in the coming periods. It also comes with a larger amount of indicators and has some other features. Libertex MetaTrader 4 trading platform The #1 professional trading platform.

Comparison of MT4 and MT5 Trading Platforms

With MT4, you view real-time currency prices, perform technical or fundamental analysis, automate trades through custom algorithms, and open or adjust orders. You can also customize charts, orders, and more through MT4 as per your own trading preferences. In fact, you will find that hundreds of the best forex trading platforms in the online space support MT4. In the case of MT5, this third-party platform is often preferred by those wishing to access non-forex CFDs.

There are a few brokers that support both platforms, enabling you to switch between MT4 and MT5 as you please. There are more than 1,200 MT4 brokers in the market, as online brokers prefer this platform over MT5. MT5 has a simpler interface layout, but it comes with 11 types of minutes charts, 7 types of hourly charts and 365 daily, weekly and yearly timeframes, which are not available on MT4.

In this guide, we make a full MT4 vs MT5 comparison so that you have a clearer understanding of which platform is more suited for your trading goals. We’ll also reveal the best broker for trading with MT4 and MT5 in 2023. MT4, traders can backtest only for a single pair that takes a lot of time. In MT4, traders are unable to know what the most traded price or cluster in the particular range was. Traders can only save tick data manually with lots of limitations.

What is a MetaTrader 4

Another important difference is that MT4 cannot run fast on 64-bit operating systems whereas MT5 can run on 32-bit operating systems. Furthermore, these two platforms don’t have the same server build-ups. The former has one dedicated server, which is limited in its interaction with other servers. However, MT5 deploys jobs to a different server and provide interaction to deliver improved results. MT5 uses four servers – the backup server, history server, trade server, and access service.

whats the difference between mt4 and mt5

However, you will need to have two separate accounts because you cannot log in to the MT5 platform with your MT4 account and vice versa. It works exactly like a Real account, except that you trade with virtual, not real money. A Demo account is the best way for every beginner to check out the MT4 or MT5 platform and test the trading tools. In terms of drawing tools, MT5 offers 44 graphical objects, including geometric shapes, channels, Gann, Fibonacci, and Elliott tools, and more.

Blueberry Markets?

This multiple minute chart is suitable for scalping strategy while the multiple Hourly charts are suitable for swing traders. This platform offers advanced charting, trade simulation, and automated strategy building. The person wishes to execute trades from their platform must buy a lifetime license or lease the platform on a timely basis. And it is designed for mostly active Forex, futures, and stock market traders. We have made the popular MT4 and MT5 platforms available for all our Alpari International clients.

You place your orders on MT4 and MT5 through a third-party platform, and the trades are executed in real-time. This helps MT5 deliver macroeconomic news from across the globe to the trader that might impact their financial trading decisions. CEO Valutrades Limited, Graeme Watkins is an FX and CFD market veteran with more than 10 years experience. Key roles include management, senior systems and controls, sales, project management and operations. Graeme has help significant roles for both brokerages and technology platforms. Yes, you can trade on both MT4 and MT5 if your chosen broker supports both platforms.

whats the difference between mt4 and mt5

The biggest overall difference between MT4 and MT5 is the types of traders the platforms tend to attract. MT4 was designed specifically for forex traders, and its features and functionality reflect this. For this reason, MT4 is the preferred software platform for traders primarily focused on the forex market. Metatrader 5 uses a programming language called MQL5 as opposed to the MQL4 used by Metatrader 4. Today, forex trading is a form of investment and an alternative to traditional employment ever since its widespread popularity.

What is the MetaTrader 4 platform?

However, you can also maximize one chart if you prefer that way. Both of these platforms support line, bar, and candlestick charts. MetaTrader 4 was released in 2005, and since then, it has set a standard of what a polished trading platform should be. As for MetaTrader 5, which was released in 2010, it is less commonly offered by Forex brokers. To answer this question you really need to know what type of trading you want to be involved in.

whats the difference between mt4 and mt5

Instruments can be selected from the Market Watch window on the left side of the screen on both of the platforms. With MQL5, traders can create and change the scripts on their own. Another thing is that most of the programs that were designed for MT4 can’t be used for MT5, which is a big disadvantage for MetaTrader 5. MT4 has been around for 15 years, and many retail and professional traders have created very useful programs for it.

Strategy Tester

If you look at the top 100 regulated brokers in the world, a lot of them are going to offer both platforms or only MT4. Neither platform is particularly user-friendly – as MT4 and MT5 are heavily focused on price action, charts, and technical indicators. As such, you will notice that there is a major difference between MT4/5 and popular retail trading platforms such as eToro or Robinhood. MetaTrader 4 is the world’s most popular trading platform that offers all you need for online trading on one interface. The new MT5 version is definitely more powerful and efficient than MT4, but it cannot replace MT4 entirely since both of these platforms are used for different purposes. If you’re involved in forex trading, you probably have at least some familiarity with the MetaTrader 4 and MetaTrader 5 platforms.

Since the April 2016 update of the terminal, brokerage companies report the inflow of new MetaTrader 5 accounts. It is possible that soon MT4 will be completely replaced by MT5. Currently, you can open live trading MT5 account with such brokers as Exness, RoboForex, InstaForex, LiteForex and others. As the largest financial market globally, Forex trading is one of the most popular investment avenues for many. The liquidity and huge trading volume make Forex trading an option worth exploring. A programming language is a computer language that is created by software developers to interact with the computer.

Offer of the month

We have strong industry experience covering hundreds of assets that you can trade seamlessly. Hedging is a type of risk management strategy that allows you to offset any potential losses by opening a position opposite to your current position. On the other hand, netting is the process of reducing financial risks in contracts by combining several financial obligations and reaching a net obligation amount. VALUTRADES LIMITED is a limited liability company registered in the Republic of Seychelles with its registered office at F20, 1st Floor, Eden Plaza, Eden Island, Seychelles. VALUTRADES LIMITED is authorized and regulated by the Financial Services Authority of the Seychelles.

Mobility – MT4 comes in three different formats, which are the mobile, desktop, and browser. MT4 is a mobile platform; the Metatrader Webtrader and mobile platforms are both compatible with the desktop platform. What this means is that if you open a trade on your mobile device, you can manage it easily on your computer. All the data displayed on the mobile version is correctly displayed on your computer.

Explore the basic concepts of buying and selling.

Both trading platforms offer pioneering automated trading systems with expert advisors. MetaTrader 4 was established specifically for Forex traders, while MT5 was designed to provide traders access to CFDs, Stocks, and Futures. It offers traders two different execution modes, four pending order types, two market order types, a trailing stop function, and two stop orders.

In this article, we will see the difference between MT4 and MT5. Before proceeding further, we will see how the forex trading platform becomes an unavoidable part of the retail trading. 87.8% of retail investor accounts lose money when trading CFDs with this provider. Both MT4 and MT5 are trading platforms with back-testing capabilities, as well as graphical interfaces that look fairly similar. By design, however, MT5 was meant to meet the needs of non-forex and U.S. markets in a manner that MT4 could not.

However, this choice is interlinked with the choice of Forex broker, as not every type of trading platform is offered by every broker. This can work satisfactorily, but if the bridge malfunctions or is slow it can adversely affect trade execution and management. This platform is made not just for forex and CFD trading but can be used for all kinds of different markets including commodities, futures, and stock. It was designed and aimed to be used by a different segment of traders, not to be in competition with the MT4 platform.

Access our latest analysis and market news and stay ahead of the markets when it comes to trading. Find out which account type suits your trading style and create account in under 5 minutes. Keep in mind, too, that you might start out benefiting most from MT4, only to realize later on that you’re ready to switch over to MT5. Wherever you’re at in your trading career, make sure your platform of choice is going to serve your trading goals. Ultimately, when it comes to MT4 versus MT5, the choice is a matter of personal preference.

After pressing the right click of the mouse from the chart, this option will appear. In MT4, traders are unable to know the real trading volumes like contracts or lots. The tick volume is the number of price changes on a particular candlestick bar.


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