MT4 vs. MT5 for Forex – Which One Do You Prefer and Why?

[aryanshirivastav]

I’ve used both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) in my trading, and while both platforms work well, they seem to fit different trading styles.

MT4 – Why traders still love it:

• Simple and lightweight.
• Huge range of custom indicators and EAs available online.
• Supported by most brokers.

MT5 – The upgraded option:

• Faster execution and more order types.
• Better charting tools + built-in economic calendar.
• Access to more markets (stocks, commodities, indices).

Personally, I still prefer MT4 for its simplicity, but MT5’s features are tempting for multi-asset trading.

Which platform do you use for your Forex trading, and what made you choose it?

 

[hayseed]

Which platform do you use for your Forex trading, and what made you choose it?

//-----

i no longer trade forex in the traditional sense..... when i did, metatrader 4 was my choice due to it being so easy to code in and the automation aspect.....

metaqutoes wisely saw a need to pull mq4 from a lot of firms....... those firms then offered platforms as a substitute were which unbearable to me....... it ended my traditional forex trading......
//------

moved to mq5 and futures........ where forex is traded as futures...... pretty much the same.......

so my preferred platform choice today is mq5....... albeit a forced choice......

currently also use topstex and tradovate, but only because those firms do not offer mq5......

beggars cant be choosers.......h

 

[Enivid]

There's lots of nice stuff that only MT5 has: real ticks data, real volumes (on supporting markets), Python integration, ONNX, OpenBlas, etc. On the downside, MT5 makes it much harder to code fast reliable indicators/EAs, not in the least due to bugs that are introduced into the platform with almost every update.