MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two popular trading platforms for working in the Forex market. We recommend paying attention to the Forex broker RoboForex https://revieweek.com/review/roboforex/. Both platforms offer a wide range of tools and features for traders, but there are differences in their capabilities and functionality. In this article, we will look at the differences between MT4 and MT5 in various aspects to help you choose the one that best suits your needs.
History
MT4 was released in 2005 and became one of the most popular trading platforms in the world. It was developed by MetaQuotes Software and was designed for work in the Forex market. The platform was developed based on the MQL4 programming language, which allows you to create your own indicators, advisors, and scripts.
MT5 was released in 2010 and is an improved version of MT4. It was also developed by MetaQuotes Software and was designed for work in the Forex market. MT5 was developed based on the MQL5 programming language, which allows you to create your own indicators, advisors, and scripts.
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Functionality
MT4 and MT5 have some common features, such as:
- Forex, CFD and futures trading instruments
- ability to create your own indicators, advisors, and scripts
- technical analysis using charts and indicators
- ability to trade using a terminal or mobile device
However, MT5 has additional features that are not in MT4, such as:
- ability to trade on different stock markets such as NYSE and NASDAQ
- built-in economic calendar and news
- ability to trade using market depth
- ability to create multiple orders for one position
Speed
MT5 works faster than MT4. This is due to the fact that MT5 uses more modern technologies and algorithms for processing trading requests. Faster order execution can be especially important for traders who trade on short-term intervals.
Programming language
MT4 uses the MQL4 programming language, while MT5 uses the more advanced MQL5 language. The MQL5 language has a wider functional set, which allows you to create more complex trading robots and indicators.
Compatibility
MT4 and MT5 are not compatible with each other. This means that trading robots and indicators created for MT4 will not work on MT5, and vice versa. If you have robots or indicators that you want to use, make sure they are compatible with the platform you have chosen.
Support
MT4 and MT5 are popular platforms, so you can find many resources and communities to help you use these platforms. However, MT4 is a more popular platform, so you can find more resources and communities related to MT4.
Conclusion
MT4 and MT5 are two excellent trading platforms for working in the Forex market. Both platforms have their advantages and disadvantages, and you should choose the one that best suits your needs. If you need a more modern platform with more functionality, then MT5 may be the best choice. If you are looking for a simpler and more popular platform, then MT4 may be the best choice.
