MT4 vs MT5

[Ogbole]

I am a new trader and still trying to understand the difference between MT4 and MT5. I see a lot of EAs are built to work with MT4, why not MT5 for instance? Can someone help clarify?

 

[haesunking]

I think the two platforms are similar

 

[HS3SSJ]

Both were developed from different languages.
Cannot be used together

 

[shah]

Which good for beginner mt4 or 5 ?

 

[Wikus]

Following this thread would also like to find some more info regarding mt4 VS mt5.

 

[Clapton]

In my opinion, MT4 is still the best solution only because dozens of additional indicators, tools and extensions have been created specifically for enthusiasts for this version. Of course, the newer version also has special advantages, but it does not support all the things created for MT4. This can be explained by something like a compatibility problem due to differences in the programming languages used in MT4 and MT5. Thus, traders will have to either continue to use MT4, or switch to MT5, but also forget about all these tools. At the same time, this transition period will be shorter if brokers suspend the provision of an older version or find a way to solve the compatibility problem.

 

[vindiou]

I hate MT4! I believe it's an old toy for beginners:

- MT4 was designed in 2002 for Windows XP 32 bits!!! (not Windows 10 64 bits !!!)
- MT4 has incompatibilities with Windows 10 64bits memory access.
- MT4 file size is limited to 4GB ! = very limited backtesting period for ticks
- MT4 doesn't manage CPU multithreading = VERY slow backtesting limited to ONLY one core per CPU!
- MT4 has limited memory size = less powerful
- MT4 has limited speed = old 32 bits CPU architecture
- MT5 backtesting features are MUCH MORE reliable, powerful & numerous than MT4!
etc.

More and more people are now moving to MT5 because of this old MT4 32 bits limitation
and MetaQuotes, the Metatrader software editor, won't support MT4 anymore sooner or later...

 

[DonovanB]

I would also like to follow thread because most ea are for MT4 so I just assumed it would be better

 

[Brandon Holiday]

I am a new trader and still trying to understand the difference between MT4 and MT5. I see a lot of EAs are built to work with MT4, why not MT5 for instance? Can someone help clarify?

MT4 defiantly! more indis

 

[Abu Saidu]

Mt5 is better for backtest and trading...
i have no choice but to trade with mt4 cause my strategy EA's and indicators are only for mt4

 

[DAYANSEBE33]

I am a new trader and still trying to understand the difference between MT4 and MT5. I see a lot of EAs are built to work with MT4, why not MT5 for instance? Can someone help clarify?

personally I think the best is mt4
It is the most common and most forex bot
and indicators comes for mt4.
in mt5 you will find less resources in the network