Metatrader 4 or Metatrader 5

Mikhailabrahamse · Feb 27, 2022

Which one is the best you can use to place trades with a bit for trading?

Alex@nder · Mar 9, 2022

Though the MT5 is an advanced version that can also be used for CFDT training, it is more complicated to use when compared to the MT4.

I prefer using the MT4 over the MT5 because the MT4 has a simple user interface and is best suited for currency trading.

jeolmir · Mar 9, 2022

is it possible to use meta trader 5 on roboforex? only for forex currency pairs, not bitcoin?

lspdfr · Mar 14, 2022

MT4 is still popular, I am familiar with MT4. No need MT5 but I think some traders will.

blizzi · Apr 6, 2022

I actually use both. the mt4 for automatic trading and the mt 5 for manual trading.

bull375 · Apr 9, 2022

Mikhailabrahamse said:
Which one is the best you can use to place trades with a bit for trading?

It actually depends on what kind of indicators you are using and also what kind of simulator you are using. I use both Metatrader 4 and Metatrader 5 platforms.
1. Reason being that only Metatrader 4 can run Simulators like Soft4fx, Sphere Tester and FxBlue. Metatrader 5 can run only FXBlue Simulator.
2. Metatrader 4 cannot run heavy duty indicators as Metatrader 4 is only 32 bit platform. Running heavy duty indicators will make Metatrader 4 platform freeze which is a huge drawback.
3. Metatrader 5 is 64 bit platform which can run any heavy duty indicators without any problems easily.
4. Also note that one can only generate Tick charts, volume charts on Metatrader 5 platform using add on custom chart generator indicator or script which is paid. Also note that even if you do buy a tick chart generator or volume charts or renko charts generator indicator or script, Metatrader 5 platform does not allow trading from custom charts. You can bypass the restriction, but that requires a special trading utility such as a trading panel or EA. The utility will translate the custom symbol name to the tradable symbol and mirror the entries plus stops on the custom symbol. Metatrader 4 platform does not have any kind of restriction related to custom charts!.

If you are running heavy duty indicators then go for Metatrader 5. Yes you will have to convert your mq4 Metatrader 4 indicators to mq5 Metatrader 5 indicators. There are many coders online who are fluent in programming of both languages mq4 and mq5 who can convert your indicators from mq4 to mq5 for a fee depending on the complexity of the indicators.

If you have light indicators that you are using in Metatrader 4 platform then continue using Metatrader 4 platform. No point in switching to Metatrader 5 platform.

Jefferson91 · Apr 12, 2022

Both platforms are useful to traders because each has its own quality. For example, the MT4 is mostly used by scalpers or currency traders, while the MT5 is used by traders that trade CFDs or stocks using its advanced platform tools.

bull375 · Apr 24, 2022

Metatrader 4 and Metatrader 5 have a number of crucial differences. First, they are built around different programming languages. The name of the programs drops a hint at the programming languages used in the creation of the trading platforms. So, these are respectively MQL4 and MQL5.
Metatrader 5 is a 64-bit program released in the year 2010, while Metatrader 4 was created for 32-bit computers in the year 2002. As Metatrader 5 is 64 bit program, it uses computer resources like cpu, ram, etc more efficiently than Metatrader 4 which means it can load and run any kind of resource hungry indicators a lot more easily than Metatrader 4.
MT4 was specifically built for forex traders, whereas MT5 was designed to provide traders with access to CFDs, stocks and futures.
Metatrader 5 has more order types compared to Metatrader 4.
When it comes to technical analysis, Metatrader 5 offers more. In contrast to Metatrader 4 that offers 30 technical indicators and 31 graphical objects and 9 timeframes, Metatrader 5 comes with 38 default technical indicators, 44 graphical objects, not to mention 21 different timeframes. Both platforms support customized technical indicators.

Metatrader 5 does not offer offline charts compared to Metatrader 4 which is why it is harder to program an add on Simulator for Metatrader 5 platform. This is the reason why only Metatrader 4 has Soft4fx and Sphere Tester Forex add on Simulators and Metatrader 5 platform does not.

jamati · Apr 29, 2022

Mikhailabrahamse said:
Which one is the best you can use to place trades with a bit for trading?

They're the same.

Kelsen · May 1, 2022

jamati said:
They're the same.

Well some EA's only work with MT4, but I believe MT5 has better performance/backtesting

belacesta · May 3, 2022

MT4 is more compatible with most brookers and indicators, bud a little old style

5ebastian · May 4, 2022

I prefer trading with the MT4 trading platform over the MT5 trading platform because it is simpler and has a better user interface, even for novice traders.

hamza021 · May 6, 2022

many of bug and probleme with mt5...i like mt4
sometimes I start trades on my computer, and when I want to follow up trades by phone on mt4, I can't connect, so I like mt4

reza75262 · May 7, 2022

metatrader 4 is better than metatrader 5
i suggestion metatrader4

Hojo168 · May 7, 2022

It is very similar if you manually traded, mt5 is a bit better. but if you use EA, it depends on indicators you want to use. MT4 is older so indicator and EA are more stable. however, if you backtest a lot, it is better to use mt5 as its backtest engine is much more better.

Deam.Hender · Jun 7, 2022

Both platforms are good, but I currently use the MT4 since it is best when trading with currency pairs. The MT5 is an advanced platform that can trade both currencies and stocks, whereas the MT4 focuses on currency trading.

amaldev · Oct 24, 2023

is fxblue as good as soft4fx. how to load intraday data for like a year back?

alex0713 · Oct 27, 2023

All previous indicators and improvements are available to every user

mauricejac · Oct 29, 2023

Improved MT-4 indicators for trading. I think you'll all like it.Successful deals and profit to all
Installation instructions inside

sparklema1130 · Oct 29, 2023

apparently MT4 is a better choice. I mean both for traders and brokers.

Metatrader 4 or Metatrader 5

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