mt4 or mt5?

OscarR

OscarR

Well-Known Member
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
 
OscarR said:
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
Click to expand...
MT5 is faster and more efficient than MT4, but it doesn't replace the previous platform as it is different and simply offers more than MT4 does. MT5 provides the ability to trade more instruments in almost all financial markets, including Forex, stocks, indices, commodities, and even cryptocurrencies.
 
You offer me to change mt4 into mt5? Do I then need to switch brokers? How would that affect my prior trades? I apologise; I just want to ensure that nothing will happen to my trades. I've never changed it before.
 
Ethan.ishere said:
MT5 is faster and more efficient than MT4, but it doesn't replace the previous platform as it is different and simply offers more than MT4 does. MT5 provides the ability to trade more instruments in almost all financial markets, including Forex, stocks, indices, commodities, and even cryptocurrencies.
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the ability to trade crypto is Broker dependent, not MT5 dependent.
MT4 is supported by more Brokers than MT5

tradingplatforms.com

MT4 vs MT5 - Which is The Best Platform in April 2025?

Can't decide between MT4 and MT5? If so, this article makes a full MT4 vs MT5 comparison to find out which platform is best.
tradingplatforms.com tradingplatforms.com
 
I completely agree. I'm happy with MT4 right now, but I'm curious if MT5 is suggested by others or not. thanks my friend.
 
rod178 said:
the ability to trade crypto is Broker dependent, not MT5 dependent.
MT4 is supported by more Brokers than MT5

tradingplatforms.com

MT4 vs MT5 - Which is The Best Platform in April 2025?

Can't decide between MT4 and MT5? If so, this article makes a full MT4 vs MT5 comparison to find out which platform is best.
tradingplatforms.com tradingplatforms.com
Click to expand...
Oh thank you for mentioning that. and yes most of the brokers I saw out there offer MT4 rather than MT5.
 
OscarR said:
Hey guys! I was just wondering, which one is better: MT4 or MT5? What are the differences?
Click to expand...
Here are some of the key differences between the two:

  1. Financial Instruments: MT4 primarily supports forex trading, while MT5 offers a broader range of trading instruments, including stocks, futures, and commodities, making it more versatile for accessing different financial markets.
  2. Market Depth Display: MT5 features a market depth display, which provides information about the prices and available volumes for financial instruments at different price levels. This feature is not available in MT4.
  3. Timeframes: MT4 offers 9 timeframes for charting, which is suitable for many traders but can be limiting if detailed analysis is required. MT5, on the other hand, provides 21 timeframes, allowing for more precise analysis.
  4. Economic Calendar: MT5 has an integrated economic calendar that includes news events and forecasts directly on the trading platform, which can be highly beneficial for trading based on financial news.
  5. Order Types: MT5 supports more order types than MT4. For example, MT5 has both "Stop Limit" orders and "Fill or Kill" orders, which are not available in MT4.
  6. Programming Language: Both platforms support automated trading systems called Expert Advisors (EAs). However, they use different programming languages; MT4 uses MQL4, while MT5 uses MQL5. MQL5 is more powerful and allows for more complex trading strategies and faster execution.
  7. Hedging: MT4 allows for hedging, where multiple opposing positions can be held in the same account, which is a common strategy in forex trading. MT5 originally did not allow this, but updates have made hedging possible.
 
MT4 is ideal for forex with its user-friendly tools, while MT5 supports multiple assets and offers advanced features for complex trading
 
Spine001 said:
Here are some of the key differences between the two:

  1. Financial Instruments: MT4 primarily supports forex trading, while MT5 offers a broader range of trading instruments, including stocks, futures, and commodities, making it more versatile for accessing different financial markets.
  2. Market Depth Display: MT5 features a market depth display, which provides information about the prices and available volumes for financial instruments at different price levels. This feature is not available in MT4.
  3. Timeframes: MT4 offers 9 timeframes for charting, which is suitable for many traders but can be limiting if detailed analysis is required. MT5, on the other hand, provides 21 timeframes, allowing for more precise analysis.
  4. Economic Calendar: MT5 has an integrated economic calendar that includes news events and forecasts directly on the trading platform, which can be highly beneficial for trading based on financial news.
  5. Order Types: MT5 supports more order types than MT4. For example, MT5 has both "Stop Limit" orders and "Fill or Kill" orders, which are not available in MT4.
  6. Programming Language: Both platforms support automated trading systems called Expert Advisors (EAs). However, they use different programming languages; MT4 uses MQL4, while MT5 uses MQL5. MQL5 is more powerful and allows for more complex trading strategies and faster execution.
  7. Hedging: MT4 allows for hedging, where multiple opposing positions can be held in the same account, which is a common strategy in forex trading. MT5 originally did not allow this, but updates have made hedging possible.
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Thanks for the detailed breakdown! It looks like MT5 has a lot more advanced features compared to MT4. Do you think the additional features in MT5, like the market depth display and economic calendar, make a significant difference in your trading performance?
 
Honestly, the extra features in MT5 are cool, but they don't necessarily mean you'll trade better. A lot of people stick with MT4 because it's simpler and does the job. Unless you really need those advanced features, like market depth or the economic calendar, you might not see a huge difference in your performance.
 
LJ_Kon said:
Honestly, the extra features in MT5 are cool, but they don't necessarily mean you'll trade better. A lot of people stick with MT4 because it's simpler and does the job. Unless you really need those advanced features, like market depth or the economic calendar, you might not see a huge difference in your performance.
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Agree, if you’re happy with MT4 and it meets your needs, there’s no rush to upgrade.
 
I switched to MT5 and do not regret, this upgrade made my trade much more efficient because I can conduct trading analysis and assess market sentiment faster thanks to inbuilt economic calendar
 
The built-in economic calendar in MT5 is definitely a great feature for fundamental analysis. Have you noticed any other specific improvements in your trading performance after switching from MT4?
 
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