MetaTrader is one of the most popular trading platforms used by traders worldwide. It is a powerful tool that helps traders to analyze and manage their trading activities. MetaTrader has two versions, MT4 and MT5. Both versions have some similarities and differences that make them unique in their ways. This article aims to compare MT4 and MT5 and help traders decide which one is better suited for their trading needs.
Table of Contents
- Introduction
- History of MetaTrader
- MT4 and MT5: Similarities
- MT4 and MT5: Differences
- Programming language
- Order execution
- Timeframes
- Technical indicators
- Market depth
- Hedging
- Netting
- Backtesting
- Strategy tester
- Economic calendar
- MT4 vs MT5: Which One to Choose?
- Conclusion
- FAQs
1. Introduction
MetaTrader is a trading platform developed by MetaQuotes Software. It is one of the most popular trading platforms used by traders worldwide. MetaTrader has two versions, MT4 and MT5. Both versions have unique features that make them suitable for different types of traders.
2. History of MetaTrader
MetaTrader 4 (MT4) was released in 2005 and quickly became one of the most popular trading platforms. It was designed primarily for forex trading and has since become the standard platform for forex traders worldwide.
MetaTrader 5 (MT5) was released in 2010 and was intended to replace MT4. It was designed to be a more powerful and versatile platform that could handle not only forex trading but also stocks, futures, and other financial instruments. However, MT4 is still widely used, and many traders still prefer it over MT5.
3. MT4 and MT5: Similarities
Both MT4 and MT5 have similar features that make them popular among traders. Some of the similarities include:
- Both platforms are developed by MetaQuotes Software.
- Both platforms are free to download and use.
- Both platforms allow for the use of automated trading strategies.
- Both platforms have a wide range of technical indicators that traders can use to analyze the market.
4. MT4 and MT5: Differences
MT4 and MT5 have some differences that make them unique in their ways. Here are some of the differences:
Programming language
MT4 uses MQL4 (MetaQuotes Language 4), while MT5 uses MQL5 (MetaQuotes Language 5). MQL5 is a more advanced programming language that allows for more complex trading strategies.
Order execution
MT5 has a faster order execution speed compared to MT4. MT5 can process up to 100 orders per second, while MT4 can only handle 50 orders per second.
Timeframes
MT4 has nine timeframes, while MT5 has 21 timeframes. MT5 also has the option to create custom timeframes.
Technical indicators
MT5 has more built-in technical indicators compared to MT4. MT5 has 38 technical indicators, while MT4 has only 30.
Market depth
MT5 has a built-in market depth feature that shows the liquidity of the market. MT4 does not have this feature.
Hedging
MT5 allows for both hedging and netting, while MT4 only allows for hedging.
Netting
MT5 allows for both hedging and netting, while MT4 only allows for hedging.
Backtesting
MT5 has a more advanced backtesting feature that allows for more accurate testing of trading strategies.
Strategy tester
MT5 has a multi-threaded strategy tester that allows for faster testing of trading strategies compared to MT4.
Economic calendar
MT5 has an integrated economic calendar, while MT4 does not have this feature.
5. MT4 vs MT5: Which One to Choose?
Deciding between MT4 and MT5 can be a difficult choice for traders. It ultimately depends on the trader’s needs and preferences. Here are some factors to consider when deciding which platform to use:
- Trading instruments: MT5 supports a wider range of financial instruments, including stocks and futures, while MT4 is primarily designed for forex trading.
- Trading strategies: If you are using complex trading strategies that require advanced programming, MT5 might be a better choice because of its more advanced programming language.
- Speed: If you need fast order execution, MT5 is the better choice because of its faster order execution speed.
- Backtesting: If you need accurate backtesting of your trading strategies, MT5 is the better choice because of its more advanced backtesting feature.
6. Conclusion
In conclusion, both MT4 and MT5 are powerful trading platforms with unique features that make them suitable for different types of traders. MT4 is more popular among forex traders, while MT5 is better suited for traders who need a wider range of financial instruments and more advanced programming capabilities. Ultimately, the choice between MT4 and MT5 depends on the trader’s needs and preferences.
7. FAQs
- Can I use the same indicators on MT4 and MT5?
- No, MT4 and MT5 use different programming languages, so you cannot use the same indicators on both platforms.
- Can I use the same expert advisor on MT4 and MT5?
- No, you cannot use the same expert advisor on both platforms because they use different programming languages.
- Which platform is faster, MT4 or MT5?
- MT5 has a faster order execution speed compared to MT4.
- Can I trade stocks and futures on MT4?
- No, MT4 is primarily designed for forex trading.
- Is MT4 still relevant in 2023?
- Yes, MT4 is still widely used by forex traders worldwide. However, MT5 is gaining popularity and might eventually replace MT4.
Name
Details
Rating
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
Founded: 2008
Founders: Petr Valov, Igor Lychagov
Year Founded : 2008
Deposit Methods: VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto (MORE)
Leverage: 1:30 | 1:500
Regulation: CySEC, FCA, DFSA, FSCA, FSA.
Min. Deposit: 5 US$
Min. Withdraw : 5 US$
HQ: Sydney, Australia
Platforms: MT4, MT5, ctrader, web trading
Found in: January 30, 2007
Deposit Methods: Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto
Year Founded : 2010
Cryptocurrencies:
YesDeposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto, USDT
Year Founded : 2010
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
Deposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto, USDT (MORE)
Year Founded : 2009
Cryptocurrencies:
Yes (30+)Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, M-Pesa, Mobile Money, Monero, PerfectMoney, Ripple, WebMoney
Year Founded : 2009
Cryptocurrencies:
Yes (50+)Deposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto, USDT
Year Founded : 2009
Cryptocurrencies:
Yes (30+)Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, Mobile Money, PerfectMoney, WebMoney, USDT
Year Founded : 2011
Cryptocurrencies: (25+) Bitcoin, Litecoin, Ethereum
Deposit Methods: Bank Deposit, VISA, awepay, Bitcoin, FasaPay, Local Bank Deposits, Local Bank Transfers, Neteller, paytm, Skrill, UnionPay, USDT
Leverage: 1:20 | 1:500
Regulation: CySEC, FCA, DFSA, FSCA, FSA.
Min. Deposit: 50 US$
Min. Withdraw : 50 US$
HQ: Australia, Cyprus, and the UK.
Platforms: MT4, cTrader, web trading
EAs/Robots: ✅ Yes | News Trading: ✅ Yes | Scalping: ✅ Yes
Cryptocurrencies: 20+) Bitcoin, Litecoin, Ethereum
Deposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, Crypto. USDT
Leverage: 1:20 | 1:500
Regulation: CySEC, FCA, DFSA, FSCA, FSA.
Min. Deposit: 100 US$
Min. Withdraw : 100 US$
HQ: Cyprus, the UK, Australia, and the United States.
Platforms: MT4, cTrader, web trading
EAs/Robots: ✅ Yes | News Trading: ✅ Yes | Scalping: ✅ Yes
Cryptocurrencies: 20+) Bitcoin, Litecoin, Ethereum
Deposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, Crypto. USDT
Leverage: 1:20 | 1:500
Regulation: CySEC, FCA, DFSA, FSCA, FSA.
Min. Deposit: 50 US$
Min. Withdraw : 50 US$
HQ: Australia, Cyprus, and the UK.
Platforms: MT4, cTrader, web trading
EAs/Robots: ✅ Yes | News Trading: ✅ Yes | Scalping: ✅ Yes
Cryptocurrencies: 20+) Bitcoin, Litecoin, Ethereum
Deposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, Crypto. USDT
Year Founded : 2010
Cryptocurrencies:
YesDeposit Methods: Local Deposit, Bank Wire (BankTransfer), VISA, MasterCard, Neteller, Skrill, WM, PM, Crypto, USDT
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