MetaTrader 4 and MetaTrader 5, both of the most used forex trading platforms globally, stand out with their own features. The choice of which one to use depends entirely on the preferences of the investor. Because this choice is a situation that has a great impact on an investor’s overall strategy and, of course, on his/her success. Although both platforms are similar to being aimed at both business experts and new investors, the small differences between them can be big factors that affect the preferences of experienced investors.
What is MetaTrader4 (MT4)?
It is the most popularly used platform worldwide. It has an interface that allows you to trade in exchange rates and parities easily. It supports investment methods such as “FIFO”, “Hedging“, and “multi – Hedging” Indicators show a great variety, and this is one of its most prominent features. The drawing features, i.e., the charts, provide justly high quality for most traders.
In addition to this, MetaTrader 4 (MT4) stands out as the software most used by brokerage houses and offered to investors. It is one of the biggest pluses that it is easy to use and install, the programming language called MQL has become widespread among experts, and it can be used with low hardware resources on a computer basis.
What is MetaTrader5 (MT5)?
MetaTrader 5 (MT5), offered by the same company, is rather an investment platform where the deficiencies of MT4 are eliminated. A few new features and interfaces are added, rather than the kind of innovations that could end the use of its predecessor, MT4.
Changes in the interface have been the most striking feature of many investors at first sight. While some investors argue that it is easier and more understandable to navigate through newer, larger, and more open menus, others think that it is useless to highlight it too much.
Ease of Multiple Accounts with MT5
Switching between different user accounts has been made very easy and fast in MT5. It makes it easy to apply different strategies on different accounts without any difficulty with multiple accounts. The number of indicators in its content has also been enriched compared to MT4, and the indicators have been diversified with new analytical and graphical objects.
Change in Orders with MT5
In addition to these, MT5 has also brought updates on automatic orders and market orders. MT5 is made to respond to 2 market orders, six pending orders, and two stop orders. At the same time, we have added the forex calendar to our investment life, thus facilitating access to news about leveraged transactions and their effects on the market, expectations, and dates of expected events.
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