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MetaTrader4 vs. MetaTrader5


A trading platform is basically a workspace for AMarkets traders, their work environment. The quality of trading depends on its functionality and convenience. Many market participants prefer to trade using the Metatrader platform. In this article, we’ll take a look at the two versions of this software – MetaTrader4 and MetaTrader5.

MT4 has been on the market for more than 10 years, many traders still opt for version. We have already reviewed this platform in our previous article, so let’s focus more on Metatrader5.

MT5 is not some modification of the MT4 platform. It has additional features and was created using a completely different programming language. However, the developers did leave the same parameters and the already familiar interface with the same blocks, like in MT4. The platform turned out to be user-friendly with a few new features. However, MT5 is far from perfect, and there is still much room for improvement. Despite its shortcomings, the platform still has good potential.

MetaTrader5 features

Difference between the two platforms

First of all, the platforms were developed using different programming languages. MetaTrader5 uses MQL5 which is incompatible with MQL4 of MetaTrader4. Also, in MT5 the number of timeframes was expanded from 9 to 21. Both platforms include tools for technical analysis, but while MT4 offers 30 indicators, MT5 offers 38. In the 5th version, the strategy tester is more advanced, which allows faster and more effective analysis of various trading strategies.

In the fifth version, developers added a special store – MetaTrader Market, where a trader can purchase robots, indicators and trading applications. MT4 doesn’t have this feature. MT5 provides sound alerts and push notifications, which can be sent to your phone or received via e-mail.

Summing up

Experienced traders, accustomed to MetaTrader4, may encounter certain inconveniences when switching to MetaTrader5. Many tools do not work here, many new features appear during trading, and this can negatively affect both the emotional state of the trader and his trading performance. Therefore, before switching to MT5, we recommend you consider all pros and cons.

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