MetaQuotes Software has developed both MT4 & MT5 trade respectively. They are one of the most well-known trading platforms worldwide. Millions of traders rely on them for their exceptional service. You need to be aware that there are some differences between the platforms. This will help you choose which platform is best.
MetaTrader 4 was released in 2005. Since then, it has been the most popular platform used by maximum forex traders. It provides easy access to the financial market. It was initially intended to trade forex but can now be used to trade stocks, indexes, and more. It is customizable and easy to use, making it a favourite tool for both beginners and professionals. Trader’s can use the advanced tools to trade the strategies that suit them best.
MetaTrader 5 was released in 2010, and is a multi-asset platform. It is more advanced, faster and more efficient than MT4. It cannot replace MT4 fully, however, because it has some features that are different from MT4. It is capable of trading instruments in nearly every financial market. MT5 allows you to perform advanced technical analysis. It also offers features such as trading robots. MT5 download and start trading using the full list of the platform options.
MT4 uses MQL4 whereas MT5 utilises MQL5 to program. MT4 doesn’t have a partial order-filling policy. However, MT5 has a partial orders filling policy. MT4 is unable to transfer funds between accounts but it is available with MT5. While MT4 does offer exchange trading, MT5 has this feature. MT4 can be used by beginners. It is intuitive and easy to learn.
It is obvious that MT5 has more features, but it is not better than MT4. Both platforms can be used by traders, but they are not the same. MT4 would be the best platform for someone new to trading. It offers all the necessary features. You can also switch to MT5 if necessary, once you’re comfortable with MT4 trading and have gained some experience.