First, I started trading with MT4 because it was more popular than MT5, and then I asked myself if MT4 or MT5 was better for my trading style. I found many traders using MT5. However, it was hard for me to switch platforms because I was used to MT4, but I found MT5 to be more suitable for me because there are a lot of tools and options that I didn’t see in MT4. Now, let’s know what is better, MT4 or MT5?
MT4 or MT5? Which one is better
Find out more about MT4 and MT5
| Features | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Indicators | 30 | 38 |
| Timeframes | 9 | 21 |
| Partial Order closing | No | Yes |
| Close Multiple Positions | No | Yes |
| Auto Trading | Yes | Yes |
| Economic Calendar | No | Yes |
| Symbols | Both have the same Symbols, but they can change depending on what The broker offers | |
| programing language | MQL4 | MQL5 |
MT4 or MT5
Should i use MT4 or MT5 ?
You can use both at any time, but when you create an account with the broker, you choose MT4 or MT5. Once you create your Trading account, you can’t change it. But some brokers allow you to change the Platform.
What is better for programming MT4 or MT5?
MT4 and MT5 have their own programming languages, but MT4 is more accessible for beginners because it’s based on MetaQuotes Language 4 (MQL4, which is simpler and easier to learn)
MT5 is a little bit advanced because it’s similar to C++ language, which makes it more advanced in its features like Economic calendar, Email system, and multi-currency backtesting
What to choose, MT4 or MT5?
That depends on your broker account type because some brokers offer accounts with Low spread, but the account type is MT4. There is no similar account with this low spread in MT5. In this case, you will choose MT4 or try to find another broker that offers an MT5 account with a low spread.
But if you want to take advantage of MT5 features, close a partial position (for example), and use the economic calendar in MT5, you must give up some things because it is hard to find all your needs in one account. Some brokers offer a Low spread in MT4, but they disable trading in Strong News, and others offer a Fixed Spread in MT5, and you are free to trade anytime, even in the news.
Personally, I’m using MT4 with one broker and MT5 with another broker because the first broker offers a Tight spread and Negative Balance Protection, which is more suitable for my strategy. However, I can’t trade with News because they disable trading in Strong News, and the second broker allows me to trade with News with a High Fixed Spread and limited profit, which is still very good for me.
Are MT4 and MT5 the only platforms for trading?
You will find MT4 or MT5 in most brokers because those platforms are very popular, but some brokers programmed their own platforms. and others allow trading only via Web Terminal
The cost of using MT4 and MT5
Both platforms are free, and you can freely download them via your broker website but the spread may change from MT4 accounts and MT5 accounts
For Android users: Download MT4 app ,,,,,, Download MT5 APP
Which account is better for Spread MT4 or MT5?
That depends on what brokers offer. Some brokers offer a high spread, but it’s fixed, and you can freely use MT5 with its features, while others offer a very low floating spread that is only available on MT4.
Please note that the account type, MT4 or MT5, will not protect you from slippage that happens during strong Events or Midnight. So we strongly suggest choosing a Tight spread account with a Trusted broker and not trading in the News if you are a beginner or cannot Analyze Strong Events.
MT4
MT4 Fixed Spread
Compatibility
Since MT4 or MT5 is accessible to download and uses very low CPU and Memory, you can use both on most PCs. For example
Windows 7, 2.0 GHz CPU, 512 MB RAM, and a screen resolution of 1024×768 (to collect more candles in the screen for better analyzing the market)
MT5 CPU usage
Conclude
You need to try both MT4 and MT5 to understand them better. Some Trade on MT4 because it’s easy to use, and they used to trade with MT4, and others like MT5 because it has many features that are needed for their trading style.
