MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms used by forex traders and other market participants. Although they share many similarities, there are several key differences between MT4 and MT5:
Programming Language: MT4 uses the MQL4 programming language, while MT5 uses the newer MQL5 programming language. MQL5 is more powerful and flexible than MQL4, allowing for more sophisticated automated trading strategies.
Timeframes: MT5 has more timeframes available than MT4, with a total of 21 timeframes compared to MT4’s 9 timeframes.
Asset Classes: MT4 was designed primarily for forex trading, while MT5 supports trading in other asset classes, including stocks, futures, and options.
Depth of Market: MT5 includes a Depth of Market (DOM) feature that gives traders more transparency and visibility into market liquidity and pricing.
Hedging: MT5 allows for both hedging and netting of positions, while MT4 only allows for netting.
Strategy Tester: MT5’s strategy tester is more advanced than MT4’s, allowing for more accurate backtesting of automated trading strategies.
User Interface: The user interface in MT5 has been improved over MT4, with a more modern look and feel and additional features, such as a built-in economic calendar.
Overall, MT5 is a more advanced trading platform than MT4 and offers traders more flexibility and functionality. However, many traders still prefer to use MT4 because it is more widely available and has a larger user base, making it easier to find support and trading tools.
10 Things You Have In Common With MetaTrader 4 AND 5
I can provide 10 key features or aspects that both Metatrader 4 and 5 share:
- Both are online trading platforms traders use to analyze financial markets and execute trades.
2. Both platforms offer customizable charting capabilities and technical analysis tools to help traders make informed decisions.
3. Both support various financial instruments, including currencies, stocks, and commodities.
4. Both platforms support algorithmic trading and allow users to create and implement their automated trading strategies.
5. Both have a large and active user community that provides support, resources, and trading indicators.
6. Both platforms offer real-time price quotes and market news to help traders stay informed.
7. Both are available for download on multiple operating systems, including Windows, Mac, iOS, and Android.
8. Both offer multiple language options to cater to traders from different parts of the world.
9. Both are widely used in the Forex trading community and have become industry standards.
1O. Both have been developed and maintained by MetaQuotes Software Corp, a software development company headquartered in Cyprus.
