MT5 Trading Platform vs MT4: Which One Should You Use?
MT5 Trading Platform: Why It Should Be Your Next-Gen Choice
When it comes to online trading, two platforms stand out: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both are developed by MetaQuotes and remain among the most trusted tools in the industry. However, the MT5 trading platform brings a range of enhancements and modern features that make it a more suitable option for today's market conditions.
Enhanced Interface and Usability
Both MT4 and the MT5 trading platform offer clean, customizable interfaces. Yet, the MT5 trading platform provides a more modern layout with additional timeframes (21 compared to MT4's 9), a built-in economic calendar, and a Depth of Market (DOM) feature. These additions make the MT5 trading platform a better fit for traders who want more market data at a glance.
Broader Asset Variety
MT4 was primarily designed for forex trading, whereas the MT5 trading platform supports a broader range of markets, including stocks, commodities, indices, and even cryptocurrencies. This makes the MT5 trading platform ideal for multi-asset traders looking to diversify their portfolios.
Superior Order Types and Execution
The MT5 trading platform introduces more advanced order types, such as Buy Stop Limit and Sell Stop Limit, which aren't available in MT4. It also allows partial order filling policies and supports multiple positions in the same instrument, offering greater flexibility for advanced trading strategies. This makes the MT5 trading platform indispensable for more sophisticated trading approaches.
Powerful Programming Language and Automation
The MT5 trading platform uses the MQL5 programming language, which is more powerful than MT4’s MQL4. MQL5 allows for more complex Expert Advisors (EAs) and indicators, along with a multi-threaded strategy tester for faster backtesting. This enables the MT5 trading platform to excel in automated trading and comprehensive analysis capabilities.
Both Hedging and Netting Support
While MT4 only supports hedging, the MT5 trading platform supports both hedging and netting systems. This gives traders more flexibility depending on their risk management approach and regional trading regulations. This dual support makes the MT5 trading platform a more adaptable solution in global markets.
Improved Compatibility and Accessibility
The MT5 trading platform is available on desktop, web, and mobile, with enhanced performance and improved charting tools across all versions. This ensures a seamless experience whether you're trading from your home setup or on the go. Experience uninterrupted trading with the MT5 trading platform.
Which Platform Should You Choose?
If you're primarily trading forex and prefer simplicity, MT4 remains a solid choice. But if you're looking for more instruments, advanced order types, better analysis tools, and faster performance, the MT5 trading platform is the superior option.
At MarketsAll, we offer full support for both MT4 and the MT5 trading platform. However, if you're starting fresh or planning to expand your trading strategy, we highly recommend exploring the power and flexibility of MT5.