MetaQuotes Software created both MetaTrader 4 and MetaTrader 5 platforms. They are widely known for being one of the most popular trading platforms around the globe. This is due to the outstanding service they provide to their users. Both platforms have their own unique features and you need to know the difference before you can decide which one is right for your needs.
MetaTrader 4 platform, which was released in 2005, is still the most well-known platform among forex traders. It makes it easy to access the financial markets. Although it was initially created to trade forex, it can now also be used in trading stocks, indices, and other assets. It’s user-friendly, customizable, and a great choice for novice traders as well as more experienced traders. Trader’s can easily implement any strategy because of the abundance of trading tools.
MT5 traders, which is a multi-asset platform, was released in 2010. It is much more efficient than MT4, and it is also faster. It can’t replace MT4 because it has different features. It can trade instruments in almost any financial market, even cryptocurrency. MT5 is not only capable of advanced and technical analysis but also features like trading bots.
MT4 employs MQL4, MT5 employs MQL5 in their programming languages. MT4 does NOT have a partial-order filling policy. MT5 however has one. MT4 does NOT allow fund transfers between accounts. However it is possible with MT5. Although MT4 is unable to offer exchange trading, it does have this feature. MT4 works well for beginners. It’s simple to use, and was created with traders in mind.
The comparison above shows that MT5 does have more features but doesn’t make it superior to MT4. Both platforms offer different features and traders can choose one that best suits their needs. For instance, MT4 may be the best platform if you’re just starting out in trading. It provides all the necessary features. If you gain more trading experience and become familiar with MT4, then you can transition to MT5 if needed.