MT5 Forex Brokers Improved Trading Interface Better than MT4?

The platform may look outdated, but its reliability is unchallenged, which can explain the platform’s popularity. If you are a newbie and it is difficult to understand the MT4 and MT5 functions, you can try yourself in a more straightforward LiteFinance terminal, it has a simple, intuitive interface. MT4 is the best platform to trade forex, there are hundreds of indicators, scripts, and Expert Advisors. The upgrades offered in MT5 were not sufficient to encourage traders to translate indicators and Experts written in MQL4 into MQL5. The advantages of MT5 are not enough to convince traders to change their usual terminal. It makes no sense to buy a Metatrader 5 license and pay for its support if only a small part of traders use it.

Which is better MT4 or MT5

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. If you’re looking to use MT4 or MT5 because you are an advanced technical trader – it’s important to consider what pricing indicators are supported.

If you are still unsure which third-party platform is right for your trading goals – it’s best to think about which tools and features you need access to. The MT4 is considered an excellent platform for the forex trader, however, if any of the above-mentioned functions appeal to you more, then you can opt for the MT5 . MT4 is still the most widely used and downloaded platform on the market though. An algorithmic trading system that links directly to the internal charting. Allowing the system to run when an event happens in real-time, or remind you of a planned event. Expert advisors (EA’s) can automate your trading by using scripts that are uploaded to the platform.


The system allows you to trade by yourself or copy successful traders from all across the globe. Copying trades of signal providers with a broker depends on the broker servers. Therefore, the copying speed is higher here than when working through MT with MQL5. The increased variety of analytical tools in MT5 is not a significant advantage in comparison with MT4. There are several times more custom indicators written for MT4, more than a hundred. The increased number of timeframes is not a great advantage of the MT5.

Which is better MT4 or MT5

Both of these trading platforms use Expert Advisors, which are manually coded programs for different types of automated tasks. The lower part of the terminal has two new tabs compared to MT4. The Company tab grants the trader direct access to his or her trading cabinet at the broker’s website.

Can you trade forex on MT5?

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 what is the difference between mt4 and mt10 open live trading MT5 account with such brokers as Exness, RoboForex, InstaForex, LiteForex and others. MT5 offers a much wider assortment of financial instruments compared to MetaTrader 4.

However, a number of third party developers have written software bridges enabling integration with other financial trading systems for automatic hedging of positions. In late 2012 and early 2013, MetaQuotes Software began to work towards removing third-party plugins for its software from the market, suing and warning developers and brokers. Both platforms allow traders to fully customise their charts, including the background colour, the colour of bearish and bullish candlesticks, border colours and more. The new version of the platform features 38 technical indicators and 44 graphical objects that can be applied to 21 timeframes. Both MetaTrader 4 and MetaTrader 5 feature great charting tools. MetaTrader 4 comes with a built-in library of 30 technical indicators and 31 graphical objects, including the widely-popular Relative Strength Index, Stochastics and Bollinger Bands.

  • You can use any terminal to connect to the LiteFinance copy trading service.
  • However, both platforms do offer fundamental research tools via financial news feeds.
  • 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.
  • These reports help track the initial and final values of the instruments; additionally, they can also forecast price movements with minimal variation.
  • The difference is that the former requires manual confirmation for each SL or TP change while the latter means instant change of the respective trading levels.

However, if you want to get familiar with the MT5, you can download its desktop or mobile version via this link. An upgraded version of the trading platform, MT5, appeared in 2010. Read on, and you will learn about the advantages of MetaTrader 4 and what is special about the MetaTrader 5 platform. There are several Forex brokers in the Forex market, and amidst those thousands of Forex brokers, it can become nothing less than challenging for traders to find the best brokers.

The information confirming executed traders and new orders is also shared through FIX API. Even though both MT4 and MT5 come with several research tools, indicators and analysis tools, the difference in the number of brokers for the two platforms is huge. MT5 is a little more complex as it consists of more trading features and enables traders to trade the stocks and futures market as well. MT5 has more charting tools, technical indicators, and timeframes than MT4. If it is not enough, you can download any of the 2000 custom indicators from the free Code Base. In addition, MT4 also offers over 700 paid ones in the Market.


Additionally, it offers a greater number of tools that can be used to predict market movement and a faster processor that makes trading a more efficient process. MT5 is also better than MT4 because it allows traders to manage all types of assets like CFDs, stocks and forex in their portfolio through a single platform together. MT5 offers many more advanced technical indicators, graphics, charting tools, and timeframes as compared to MT4.

On a demo account, you can test the functionality of placing market and pending orders, get acquainted with technical indicators and charting objects, and try to enter your first trades. With MT4, traders can choose from nine different time frames when conducting chart analysis. MT5, by contrast, offers 21 different time frames, representing a massive expansion on MT4’s offerings. But some traders—as well as certain types of trades, such as CFDs—benefit greatly from access to these less commonly used time frames. More experienced or diverse traders might consider this information crucial to executing well-informed trades.


The MT5 sees a host of new added features and trading functionalities that are designed to offer better control to the trader. The MT5 now has over 80 different tools for technical analysis along with a broad range of charting options, including a selection of the various timeframes according to a trader’s preferences. The MT5 has added several combinations for the minutes and the hourly time frames while the daily, weekly and yearly remain the same.

Now, unlike MetaTrader programs that use their own specific language, cTrader is based on a commonly-used C# language. Because of its popularity, programmers from all backgrounds – and not just those specialize in trading – can create new tools, scripts, and features for this program. Therefore, there are more possibilities for cTrader than MT4 or MT5. Even though the MetaTrader software programs were developed by the same company and have the same design, their programming languages are still very different from each other. MetaTrader is a trading software developed by a company called MetaQuotes.

Explore the basic concepts of buying and selling.

We have summarised these functional differences in the table at the end of this section. If you have a custom indicator that you wish to add to your MT4 platform – the installation process is simple. Then, find the location that your indicator is saved on your desktop device and double-click the file. If you want the option of being able to place orders on the move – you’ll be pleased to know that both MT4 and MT5 offer a fully-fledged mobile app. Both mobile apps are compatible with Android, iPhone, and iPads.

But ‘something went wrong.’ MT5 didn’t become as successful as the MT4 despite the updates and upgrades, so MetaQuotes decided to use both versions. Tips for Forex trading beginnersIn terms of trading volume, the Forex market is the largest financial market in the world. It is also the only financial market that operates round the clock every day. Key steps to making your first trade in ForexMaking your first trade in Forex successfully requires in-depth knowledge about trading basics and Forex trading strategies.

Benefits of using MetaTrader 4

Most retail traders heavily rely on technical analysis, which makes the available charting tools an important factor when deciding between MetaTrader 4 and MetaTrader 5. Risk Warning – CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. M4Markets does not offer its services to residents of certain jurisdictions such as USA, Canada, Cuba, Sudan, Syria and North Korea.

Which is better MT4 or MT5

At the forefront of this is the sheer number of advanced technical indicators, chart drawing tools, and order types offered. This is highly conducive for traders that rely on technical analysis and pricing research. MetaQuotes Software Corp. developed the first trading platforms to trade Forex, CFDs, stocks, and futures in 2000 and 2001. They had relatively few capacities of the trader terminal and didn’t become popular among traders. In early 2002, the company presented MetaTrader 3, where the programming language and functions’ capabilities were significantly expanded.

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Ultimately, which of the two platforms is better depends on the preference of the individual trader. If you are looking for a platform that can offer more symbols and markets, more order types, and partial fills, then Metatrader 5 could potentially be a better match. Users looking for a program that is both easy to understand and configure will greatly appreciate the no-nonsense execution that comes with Metatrader4. The platform has extensive price analysis tools integrated into it, including technical indicators and major volume and trend tools. For starters, MT4 was created specifically for Forex traders, while MT5 was created for stocks, CFDs, features, and commodities trading in addition to MT5. However, there are some Forex brokers who offer both MT4 and MT5 platforms.

Your best trading experience is a click away

Automated trading systems could be implemented, but the platform was restricted to currency traders only. MetaTrader 5 offers support for all major markets, including Forex, futures, options, stocks, and bonds. In addition, the number of supported symbols is now unlimited, while MetaTrader 4 supported a maximum of 1024 tradable instruments. New traders appreciate the platform’s beginner-friendly elements, such as the copy trading system and automated Expert Advisor apps. The more experienced can take advantage of a full suite of complex analytics, charting tools, and the ability to design their own trading indicators. MT5 has a built-in Economic calendar that provides an up-to-date live stream of all economic events.