Which is the best trading platform between MT4 and MT5? (2024)

Which is the best trading platform between MT4 and MT5?

MT5 offers more order types, technical indicators, analytical objects, time frames, and charts. MT5 is also good for traders who want to perform complex backtesting, thanks to its advanced Strategy Tester features. Simply put, MT5 is the better choice for traders of all types.

Which is better MT5 or MT4?

Both MT4 and MT5 are the official versions created and distributed by MetaQuotes Software. The new MT5 version is considered to be superior for stock trading and order management, while the older MT4 platform is considered to be superior for forex trading.

Should a beginner use MT4 or MT5?

In short, if you are new to trading, MT4 is the right choice. The basic functions in MT4 are more than enough for trading. If you already have trading experience, try MT5 as it has more features.

Why do people use MT4 instead of MT5?

MT4 vs MT5 Takeaways

MT4 is much easier for newer Forex traders. However, it only supports forex assets and CFDs and has fewer features than MT5. MT5 offers a greater volume of technical indicators, timeframes and graphics, along with improvements such as an economic calendar.

Which is better for scalping MT4 or MT5?

9 traditional timeframes are available on each currency pair on MT4. For traders focused on higher timeframes this is usually sufficient. Day traders and scalpers, however, tend to require additional timeframes – MT5 provides 21 timeframes to enable more of a comprehensive detailed analysis of minor price movements.

Is there a big difference between MT4 and MT5?

MT4 was built to trade Forex while MT5 was designed to allow easier trading in non-Forex CFDs. They use different programming languages and MT5 allows faster back testing than MT4. MT5 also allows a DOM (depth of market functionality) and is technically supported by MetaQuotes, unlike MT4.

Will MT4 be phased out?

MT4 will stay as long as Metaquotes makes its major returns with it and there is nothing available to substitute that cash flow. Metaquotes enforcing MT5 onto brokers (and retail traders) is the same as committing business suicide. Of course that's not going to happen.

What will replace MT4 and MT5?

Vantage WebTrader, a web-based platform offers traders a convenient alternative to traditional downloadable trading software like MT4 and MT5. As a web platform, it can be accessed easily without the need to download any software, making it ideal for online brokers and traders who value speed and convenience.

Why is MT4 so popular?

The simplicity of the MT4 platform makes it easy to use for traders of all levels of experience. This ensures that traders do not waste time looking around or navigating. They can carry out their trades quickly, without losing opportunities or wasting time.

Can I use MT5 without a broker?

You can not use MetaTrader platforms for trading without a broker. MT4/MT5 are trading platforms that offer tools and features for analysing quotes and making trades.

Why MT4 is the best?

Real-Time Access to Market Liquidity & Prices

MT4 has a big advantage in giving insights into real-time forex trading actions. Having these insights gives a value of the real-time market to traders. At present, which forex currency or financial assets are profitable for trading, in MT4 traders will get to know.

Which broker is best for forex trading?

Which broker is best for MT5?

Is MetaTrader 5 real or fake?

Is MetaTrader 5 a Scam? To begin with, it should be clarified that MT5 itself is in no way a scam. As explained above, MT5 itself is simply a software application that allows traders to connect to trading platforms and facilitate transactions via computers.

Which MetaTrader version is preferred by traders?

MetaTrader 4 is often preferred for margin trading, enabling users to access leveraged positions in the Forex markets. Additionally, it supports the execution of automated orders through computer programs scripted in the exclusive MQL4 language native to MetaTrader 4.

Can I use MetaTrader 4 without a broker?

So, the quick answer is yes, you do need a broker for MT4. If you are not ready to register with a broker and trade with real funds, you can go straight ahead and download the MT4 platform directly from the MetaQuotes website. You can then use the free demo account to practice trading with virtual funds.

Why do people use MT5?

Aside from Forex, the MT5 platform helps you trade Stocks, CFDs, and Futures. It has numerous order types and execution modes that allow traders to use custom trading strategies even when their machine is not online.

Can I have MT4 and MT5 at the same time?

Running MT4 and MT5 at once is possible; simply open them both up. The only restriction is that the trading accounts be managed on the appropriate application; MT4-based trading accounts on MT4 and MT5-based trading accounts on MT5.

What are the best trading platforms?

Why is MT4 banned in US?

The MetaQuotes move indicates that the company is very cautious when it comes to offering services using its platform to US clients. The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.

Why did MT4 get banned?

In September 2022, a ban on the MT4 and MT5 apps in Apple's App Store, which affected all markets, made headlines. Though the reasons for the decision were unclear, there was speculation that it was related to trading scams published in the iOS app store, impersonating popular trading platforms.

What is the disadvantage of MT4?

MT4 was primarily designed to operate on a Windows operating system. As a result, Mac or Linux users may not experience the same level of performance as Windows users. Even though there are workarounds, this could be a drawback for those who choose to use alternative operating systems.

Will MT5 be removed?

Moreover, the desktop versions of MetaTrader 4 and MetaTrader 5 can be used without issues. Meanwhile, Android users can continue to utilise the platforms since they are still available on the Google Play Store.

Why MetaTrader is removed?

The removal of Meta Trader 4 and Meta Trader 5 apps from the Play Store might be due to various reasons, such as policy violations, security concerns, or other issues. It's best to check official statements from MetaQuotes, the developer of Meta Trader, for more details on the specific reasons for their removal.

What's better than MT4?