Though many may think that MetaTrader5 is just an upgraded version of MetaTrader4, these two platforms are different and each better serves particular purposes.
Let’s compare these two platforms:
|
MetaTrader4 |
MetaTrader5 |
|
|
Trading instruments |
Forex, CFDs |
Forex, CFDs, futures, stocks |
|
Language |
MQL4 |
MQL5 |
|
Expert Advisor |
✓ |
✓ |
|
Types of pending orders |
4 |
6 |
|
Timeframes |
9 |
21 |
|
Built-in indicators |
30 |
38 |
|
Built-in economic calendar |
✗ |
✓ |
|
Custom symbols for analysis |
✗ |
✓ |
|
Details and Trading window in Market Watch |
✗ |
✓ |
|
Ticks data export |
✗ |
✓ |
|
Multi-thread |
✗ |
✓ |
|
64-bit architecture for EAs |
✗ |
✓ |
MetaTrader4 trading platform has a simple and easily understandable trading interface and mostly used for Forex trading.
MetaTrader5 trading platform has a slightly different interface and gives the possibility to trade stocks, energies, indices, and futures.
In comparison with MT4, it has a deeper tick and chart history. With this platform, a trader can use Python for Market analysis and even log in to the Personal Area and perform financial operations (deposit, withdrawal, internal transfer) without leaving the platform. More than that, there’s no need to remember the server number on MT5: it has only two servers - Real and Demo.
Which MetaTrader is better? You can decide it for yourself.
If you are only at the beginning of your way as a trader, we would recommend you to start with MetaTrader4 trading platform due to its simplicity.
But if you are an experienced trader, who, for example, needs more features for analysis, the MetaTrader5 suits you the most.
Wish you successful trading!