What Are The Differences Between MetaTrader 4 vs 5?

Once again, MT5 goes one step further – as the platform is home to 44 analytical objects. Otherwise referred to as a forex EA (Expert Advisor), this allows you to trade in a 100% automated manner. This is because your chosen trading robot will enter buy and sell positions around the clock without you needing to lift a finger. In contrast, MT5 provides 38 built-in technical indicators to get insights into market direction.

MT4 supports automated trading through the use of Expert Advisors (EAs), which are software programs that can execute trades based on predefined trading strategies. MT4 also supports automated trading through the use of Expert Advisors (EAs), which are software programs that can execute trades instaforex review based on predefined trading strategies. This platform has many tools to help traders make smart trading decisions, like charts and graphs that show how prices are changing over time. It also lets traders set up automatic trades so they don’t have to monitor the market all the time.

Either way, execution times are impeccable at both MT4 and MT5 – so this shouldn’t form part of your platform decision-making process. Another thing to note is that there’s no backwards compatibility for these languages, meaning programs written for MT4 can’t run on MT5. This can be a limitation for traders who want to upgrade, and it’s important to note that in the future, it’s unlikely that program language upgrades will be extended into MQL4 as well as MQL5. With that said, we should note that the vast majority of third-party robot providers will developer their software for MT4. As such, if your primary goal of using a third-party platform is for automated trading – MT4 is going to be the best option on the table. Our MT4 vs MT5 comparison also found that both platforms facilitate real-time alerts.

As stated, MetaTrader 5 is a popular trading platform that allows its users to trade various assets, including Forex. Many brokers are compatible with the trading platform, making it one of the most well know platforms in the game. Within the platform, MetaTrader 5 allows you to perform various technical and fundamental analysis, along with qualitative research as well. MetaTrader 4 has quickly become a kind of gold industry standard among other trading platforms. This software enables traders to analyze the behavior of financial instruments, monitor assets’ quotes, and copy deals of successful traders 24/7. However, traders should also keep in mind that the available trading assets also depend on the Forex broker that they are using.


MT4’s backtesting capabilities are limited compared to MT5, making it difficult for traders to accurately test and evaluate their trading strategies. With both MT4 and MT5 being popular choices among traders, it can be difficult to decide which one is better suited for your trading needs. In this blog post, we’ll look at the key differences between MT4 and MT5, their pros and cons, and features and limitations. MQL4 (MetaQuotes Language 4) is a programming language built into the trading platform. You can use the MQL4 to write the code for Expert Advisors, indicators, scripts, and MT4 function libraries. For most traders, it is not worth switching from the MT4 to the MT5 trading platform because it does not really offer much strong improvement in trading conditions and execution.

MT5 may claim one additional option, but as forex traders have no use for Exchange Execution, that’s insufficient to merit the top spot. Due to the additional markets available to traders using MT5, the platform also offers Exchange Execution as an option for order processing. As a comprehensive platform dedicated primarily to trading forex, it should come as no surprise that MetaTrader 4 relies on the three primary execution methods when fulfilling trades.

However, in this article we will focus on what is crucial for you as a trader, especially if you are getting started. If you want to use the FIX API, you’ll need to use the MT4 trading platform. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buysharesand the Malta Association of Compliance Officers.

In the section “Trade Forex/Mobile Apps”, you can also find more software for mobile gadgets, examples of trading strategies, Forex analytics, and so on. In MetaTrader 5, the developers wanted to change the review make the deal: negotiating mergers and acquisitions 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 Metatrader 5 customer service entails various support services to aid customers in making the most cost-effective and appropriate use of the brokers’ services.
  • In the new platform version, the developers focused on the upgrading of the platform functions, hardly changing the interface.
  • This differs from the MetaTrader 4 platform which only provides 2 market orders, 4 pending orders, 2 stop orders and a trailing stop.
  • Therefore, in early 2011 MetaQuotes was forced to perform updates and releases regarding MT4.

Forex traders should be smart enough not just to make lucrative trades, but also to choose a broker who can best meet their requirements. Our mission is to help investors to lower lexatrade risks by providing unbiased reviews and ratings. Due to the popularity of MetaTrader 4 among forex and novice traders, FXTM will continue to support both MetaTrader 4 and 5.

EAs will ensure that you don’t need to be sat in front of your computer 24/7. It will also point out any trading opportunities by identifying potential price trends. It is vital to acknowledge for MT4, the DOM is derived from broker-fed prices, while MT5 can connect to a real exchange and/or broker. However, if you want to buy or sell an asset at a predetermined price in the future, you will be using a pending order. No more paying hundreds monthly for features I found built in within VertexFX.

Can you trade forex on MT5?

Overall, whether MT4 or MT5, we found Pepperstone to be the best broker for forex based on its spreads, trading environment, and customer support. MetaTrader 4 exists in multiple flavours suitable for any type of device. Recent compatibility issues with Apple and iOS, however, may give pause to traders loyal to their iPhones.

In addition to forex markets, it also focuses on providing access to contracts-for-difference (CFDs), stocks, indexes and futures. 77.78% of retail investor accounts lose money when trading CFDs with this provider. Nevertheless, it’s important to understand MT4 and MT5 users have access to the MetaTrader Market, a service accessible through the Market tab in the MetaTrader platforms.

MT4 or MT5, Which Platform Should You Choose?

However, there is a common misconception that MT5 is just an improved version of MT4. The truth is that MT5 is also designed to do some things that MT4 cannot. MetaTrader 4 no longer offers customer-side technical support for the MT4 platform. For now, users can turn to an active community of MT4 aficionados for technical help. While a single, dedicated server does come with the advantage of easy set-up and administration, the limits on processing power can hamper trading activity. Distributed servers capable of sharing the processing load, conversely, require more work to configure and monitor, but can handle far more complex tasks simultaneously.

What is MetaTrader 4? What is MetaTrader 5?

MT5 also offers comprehensive back testing capabilities, making it the perfect platform for developing and testing new strategies. MetaTrader 4 is a trading platform primarily used to facilitate forex trading. Although the platform’s design was created with forex traders in mind, it can be used with a range of additional security investing options as well. The specific assets that you’ll have access to will vary depending on the broker you’re working with.

Copy Trading in MT4 vs MT5

Furthermore, MT5 can handle multiple orders simultaneously, whereas MT4 can only process one order at a time. MT4’s user-friendly interface makes it great for newbies who want to get started quickly in trading. Its mobile versions also allow users to trade on the go without having to switch devices or platforms. And for those looking for some customisation options, MT4 offers multiple charting packages, technical analysis indicators and trading robots.

MT5’s distributed servers can better handle large volumes of orders and high levels of activity. In conclusion, both platforms have their advantages and disadvantages but each one serves a specific purpose – depending on your type of trading style, you may require either one or even both. Therefore, it’s important to do your research before determining which platform best suits your needs. And why would one shift from a working platform – especially in a world as fickle and unpredictable as online trading?

MetaTrader 4, or ‘MT4’, and MetaTrader 5, or ‘MT5’ are acknowledged across the board as industry-leading trading platforms, providing an efficient gateway between traders and financial markets. Both of the trading platforms allow traders to customize the trading interface according to their needs. While discussing the key features of the trading platforms, it should also be noted that MetaTrader 4 offers traders around 30 built-in indicators, while MT5 offers 38 indicators. With MT4, traders can choose from nine different time frames when conducting chart analysis.