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Wednesday, September 29, 2021

Is MetaTrader 5 (MT5) Better Than MetaTrader 4 (MT4)

Are you still confused between MetaTrader 4 (MT4) and MetaTrader 5 (MT5)? It is much better if you have a clear comparison of these two trading platforms. Knowing their features and the markets that you can trade in using these powerful trading platforms will help you in so many ways.

Even those who are new to trading surely have heard about these trading platforms which were created by MetaQuotes Software Corp. Both MetaTrader 4 and 5 have special characteristics unique only to each trading platform. But if you are eager to know their differences, it is better if you explore them right below.

MetaTrader 4 Trading Platform

If you are a new trader in the Forex market, the most ideal trading for you is the MetaTrader 4. It is available for desktop computers and mobile devices so you can trade on the go. It is also very easy to install MT4 in your macOS, Android, and iOS devices as well as Windows system. Although there are some users who find it hard to change their passwords, it is actually not difficult at all. You also have to update the software every now and then because this trading platform is also the same as other applications on your computer or mobile phone that needs to be updated all the time.

MT4 allows you to follow price fluctuations easily and analyze price charts in different timeframes. This is especially important since analyzing when to open or sell a position is very important in trading. There are also charts in MT4 that are commonly being used like Renko Charts, Heikin Ashi, and Candlestick. Expert Advisors (EA) that automate your trading experience. EAs utilizes scripts that are sent into the trading platform. Through the use of EAs, you don’t have to spend all your time in front of your computer, waiting for a good opportunity to open or close a trade.

MetaTrader 5 Trading Platform

After 5 years of waiting, those traders who want to venture into other markets aside from Forex can trade on MetaTrader 5. This trading platform was developed five years after the release of MetaTrader 4. There are a lot of upgraded features of MetaTrader 5. This trading platform now offers 38 technical indicators as well as 44 graphical objects to ensure that your speculations are accurate at all times. As a trader, it is very important to keep updated on the latest macroeconomic news, and with MetaTrader 5, you are guaranteed that you are well informed about every economic news there is in the financial world. More importantly, netting and hedging are available in MetaTrader 5.

As a form of risk management strategy, you can plan different orders in MetaTrader 5. You can choose 2 market orders, 2 stop orders, 6 pending orders, and a trailing stop. This is different from MT4 because it only offers 2 market orders, 2 stop orders, 4 pending orders, and a trading stop.

MT4 or MT5?

If you are wondering what trading platform to choose, it should depend on your needs as a trader. If you are a Forex trader, ideally, MT4 is best for you. But if you want a wider market to invest in, you can try the more intricate trading platform, the MT5.

 

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