Difference Between MT4 And MT5 Trading Platforms

1. Difference Between MT4 And MT5 Trading Platforms If you are a trader, you must have heard about MT5 and MT4 trading platforms, one of the most popular trading platforms in the world. Millions of traders trust his Meta Trader with unique features such as a fully customizable user interface, flexible trading conditions, advanced charting and technical analysis, Expert Advisors (EAs) for automated trading and more. Selecting a platform. It incorporates a unique Meta Editor API that allows users to develop custom indicators, scripts and EAs. Meta Trader also has a strategy tester for back testing EAs using historical data and a large online MQL community where users can share their ideas and tools. Some of the key features of MetaTrader are: • Real-time bid/ask price quotes in the market watch window • Multiple chart types (including bar, line & candlestick) • Multiple chart timeframes from 1 minute to 1 year • Multiple order types supported & one-click trading directly from charts Renowned brokers like XtreamForex provide their clients with one of the most popular and powerful forex trading platforms MT5 and MT4.

2. Both MT4 and MT5 possess incredibly fast execution and offer a variety of trading tools for their users. The majority of brokers across the globe use this software, providing their clients with the opportunity to trade on an award-winning platform. Despite this, there are several differences between the two Mobility: By employing the use of the mobile versions of MT4 and MT5 via iOS and Android smartphones and tablets, traders can access their trading platforms from anywhere in the world 24 hours a day. The functionality offered on mobile includes interactive quote charts, a full set of trading orders, analytical tools, ability to monitor account status and buy and sell financial instruments. Customization:- Both platforms allow users to customize the interface to suit their trading needs.

3. It is also worth noting that both the platforms have alert functionality with audio, This is handy if you trade on multiple markets at the same time. Another feature of the MT5 is the economic calendar. Attached to the bottom of the chart is the shape of a small, yet trendy, time function, which alerts the traders when high-impacting macroeconomic news is about to hit the market. Algorithmic trading: Algorithmic trading is trading with the assistance of an automated trading system also referred to as trading robots. MetaQuotes Language 4 (MQL4) and MetaQuotes Language 5 (MQL5) are built-in programming languages serving traders’ needs and requirements for writing trading programs. By adopting and understanding this language, traders are able to make Expert Advisers. Just about any trading strategy can be implemented as an Expert Advisor that automates your trading process. Trading and orders: MT4 and MT5 have similar execution modes. The three execution modes I.e., instant execution, execution on request and execution by market are available on MT4. Whileas MT5 offers an addition in the form of exchange execution. In this mode, the trade orders are sent to an external trading system . MT4 allows only hedging. MT5, however, permits both hedging and netting. An example of netting is that if a trader was to enter in a long position for 1 lot on the EUR/USD and then enter a second lot in the same market, the initial order entry would simply become a single position, as opposed to two separate positions. Both the trading platform MT5 and MT4 contain internal mailing systems, though MT5 offers this service with attachments. However on both platforms traders are unable to send emails outside of the Metatrader system. If you’re new to trading, or simply interested in trading forex, MT4 is the best choice out there in the market for you. If you’re more advanced and find use in the additional tools offered in MT5, nevertheless both of the trading platforms MT5 and MT4 are certainly worth considering. --------------------------