MT4 vs MT5

Zalea

Newbie
Sep 15, 2020
28
2
4
28
The two significant contrasts have just been secured. However, there are various others worth referencing inside any MT4 and MT5 examination.

Metatrader 5 uses a programming language called MQL5 instead of the MQL4 utilized by Metatrader 4. The energizing thing about MQL5 is that it permits "discovery" programming which, more or less, implies that it is simpler to program thus will coherently be a superior structure for clients and engineers of exchanging robots and other master counselors. In any case, MetaQuotes extended this capacity into MQL4 in 2014, so it's anything but a distinction between the stages any longer, in spite of the fact that there is a probability that if the language is overhauled eventually, MetaQuotes won't expand any redesigns into MQL4 just as MQL5

It ought to be noticed that there is no regressive similarity. Projects composed for Metatrader 4 can't run on Metatrader 5. This can be a genuine disadvantage for merchants who were wishing to "redesign", and is a key motivation behind why such a change shouldn't be viewed as an overhaul.

The facts demonstrate that Metatrader 5 holds two key programming-related preferences over Metatrader 4. Right off the bat, it's backtesting capacities where you can test modified exchanging techniques execute at a lot quicker speed, which is an element that can spare you a ton of time in the event that you are the sort of dealer who needs to run an enormous number of backtests. It additionally permits concurrent multi-money pair backtesting. Together this can accelerate backtesting methodology unfathomably.
 

DamianSimen

Banned
Oct 20, 2020
9
1
14
35
I would suggest traders check it out on their own which one is better because both are good. Some prefer mt4 because additional indicators, tools and extensions have been added, and some prefer Mt5 because it is an updated version of MT4.
 

e_abrams

Active Trader
Dec 11, 2020
451
31
39
41
I still use MT4. I like the way it functions, I am familiar with it and it suits my needs, so for now I see no reason to switch to another platform.
 

Zeenat shein

Banned
Apr 11, 2020
56
13
24
27
MT4 allows only hedging. MT4 is designed for CFD forex instruments, whereas MT5 is an all-in-one state of the art multi-asset trading platform, covering both centralised and non-centralised financial markets, including, stocks, futures and FX trading instruments. MT5 is faster and more efficient than MT4.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,535
1,355
144
Odesa
www.earnforex.com
@Logan01 This depends on your aim. If you want access to a huge code base of indicators, EAs, and scripts, then MT4 is probably a better platform for you. If you are interested in trading a greater variety of instruments (futures, options, stocks), want up-to-date platform, and high-quality out-of-the-box backtesting, then MT5 should be your choice.
 

sunar14

Banned
Jan 17, 2021
77
9
19
29
Currently looking to start live trading and would like to know which platform is better for beginners.

I was about to trade with MT5 since it is the latest platform, but the MT4 is a more popular platform used by many trades, so I'm not very sure, can anyone suggest which is the best?
MT5 is definitely better since it supports integration of Python (relatively easy) also major upgrade from MT4 is support of ECN (many liquidity providers). MT4 was unable to hold more than one feed.
 

Resolve

Master Trader
Dec 7, 2013
1,391
10
74
MT5 is definitely better since it supports integration of Python (relatively easy) also major upgrade from MT4 is support of ECN (many liquidity providers). MT4 was unable to hold more than one feed.
One of the main things that goes in the favor of MT4 is that it has the support of a vast majority of Forex traders.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,535
1,355
144
Odesa
www.earnforex.com
I currently use a demo account for trading and will move to live account soon, can anyone recommend which platform would be suitable for a beginner MT4 or MT5? Which is simpler to trade?
You'd prefer MT4 over MT5 in two cases only:
1) Your broker only supports MT4.
2) There are some MT4-only custom indicators or EAs that you want to use in trading.

No one here knows whether any of these cases is relevant to you.
 

Jürgen

Banned
Jan 14, 2021
11
0
12
36
I have tried both platforms, and I prefer trading with MT4 even though the MT5 is advanced. The mT4 is a much simpler and easy platform to trade.
 

Hi3rophante

Trader
Dec 7, 2020
115
7
24
France
francetrading.net
In theory mt5 is the successor of the old mt4, but in practice everyone are still trading with mt4 because there is no option to translate mql4 (mt4 coding language) into mql5, so everyone would lost their customs indies and EAs ; unless Metaquotes finds a solution to this problem, no one will make the transition and will stay in the status quo : mt4 over mt5.

That being said, as mt4 is not developped anymore, soon or later mt5 users will surpass mt4 users in numbers, but I don't know when.
 

HeavenLeighGill

Active Trader
Aug 5, 2021
389
35
44
28
I prefer MT4 but have considered making the switch. My broker still has MT4 available, so I'm content for now but your post did make me think of switching.
 

sunar14

Banned
Jan 17, 2021
77
9
19
29
MT5 has API for Python and that is the main advantage for me . As python is easier than MQL language which is C based, building you trading bot from a scratch and deploying it will take much less times. That's why I consider only brokers that offer MT5.
 
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e_abrams

Active Trader
Dec 11, 2020
451
31
39
41
I can't build trading bots though, so I don't really need such a functionality, but I can see how it can be pretty useful to those who can.