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The MetaQuotes software company is most well-known for two online forex trading platforms: MetaTrader 4 and MetaTrader 5. These platforms are more commonly referred to as MT4 and MT5 respectively. Because both platforms differ in a variety of ways, fxwhitelabel.net wanted to offer our MT4 vs. MT5 comparison so both brokers and traders alike can better recognize the differences.
MT4 Have Less Trading Products and Markets than MT5
MT4 has always been known as a platform for both forex and CFD trading. This day, a maximum of brokers offer a variety of trading symbols which at first glance would come into view to cover the full range of available trading products: energies, metals, and stocks. Looking deeper though, you’ll discover that all non-forex products found in MT4 are CFDs.
One of the most important differences between MT4 and MT5 is that more trading products are available in MT5 then MT4, With an MT5 account it’s very easy to connect to a variety of exchanges, which allows traders to speculate on worldwide equities, ETFs, options, and futures.
Order Types Are More Abundant in MT5. MT5 traders can enter more multifaceted order types than they could in MT4. For example, MT5 offers the capability to place buy stop-limits and sell stop-limit orders. One more advantage is that MT5 allows brokers to offer market depth across all symbols, a feature that many complicated traders need to properly execute their trading systems.
MT5 uses a superior Coding Language: MQL5
MT4 took the forex world by storm by offering traders the facility to automate their trading systems, which are known as EAs (Expert Advisors). Due to the reputation of EAs, MetaQuotes decided to offer an improved and upgraded coding language in MT5: MQL5. By taking advantage of object-oriented programming, trading systems can be more simply coded in MQL5, and most significantly, the MQL5 language makes it is possible to develop far more complicated and complex systems than one could in MT4.
Analytical and Trade Analysis Has enhanced in MT5
As mentioned before, MT5 can connect to a variety of exchanges, which offers the advantage of viewing both historical and real-time volume, an attribute that was not available in MT4. Although it’s not easy to gauge in the forex market, the volume is an important trading indicator for futures and equity traders.
MT5 is More Flexible for Brokers to function
MT5 is far more adaptable when it comes to configuring price streams, trading groups, accounts, and product symbols. Many of these enhancements were requested by existing MT4 brokers. It became too cumbersome to challenge to implement all of these changes in MT4, which is why MetaQuotes instead choose to propose a more flexible and customizable system structure in MT5.
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