Why do traders prefer MT4 over MT5? (2024)

Why do traders prefer MT4 over MT5?

MT4 is the better bet if you are certain you will only be trading forex and CFDs, and you want to keep things very simple. It is a simpler platform and easier to get to grips with. If you trade stocks or more than one asset class, MT5 is definitely the right platform for you.

Why do most traders use MT4?

Traders using both platforms say that MT4 and MT5 have custom programming languages. The difference is that MT4's programming language is easier to launch, develop, and install. MT4's programming language is ideal for new traders because it only requires minimal steps to set up its functionality.

Should I trade on MetaTrader 4 or 5?

MT5 offers improved performance compared to MT4, thanks to its multi-threaded strategy tester and optimised code execution. It can handle larger volumes of data and support more sophisticated trading algorithms, making it suitable for advanced traders and institutional investors.

Which MetaTrader version is preferred by traders?

MetaTrader 4, known as MT4, is a very popular platform for trading, especially in the world of Forex. Many consider it the standard in the industry. Even though a newer version called MT5 is available, MetaTrader 4 is still more popular.

What are the main differences between MT4 and MT5?

MT4 was built to trade Forex while MT5 was designed to allow easier trading in non-Forex CFDs. They use different programming languages and MT5 allows faster back testing than MT4. MT5 also allows a DOM (depth of market functionality) and is technically supported by MetaQuotes, unlike MT4.

Will MT4 be phased out?

Will MT4 be phased out? Although MetaQuotes discontinued support for MT4 client terminal versions below 1065 in 2017 and stopped issuing MT4 licenses to new clients in 2018, the MT4 platform is still available for download via the MetaQuotes Software site (here is the link to the MT4 download landing page).

What is the disadvantage of MT4?

Cons of MT4:

Limited Asset Coverage: MT4 is primarily designed for Forex trading and doesn't provide the same level of access to other asset classes like stocks and commodities, unlike its successor, MetaTrader 5 (MT5). Traders looking to diversify their portfolios might find this limiting.

What will replace MT4 and MT5?

Vantage WebTrader, a web-based platform offers traders a convenient alternative to traditional downloadable trading software like MT4 and MT5. As a web platform, it can be accessed easily without the need to download any software, making it ideal for online brokers and traders who value speed and convenience.

Is MetaTrader 4 the best platform?

It's challenging to say which online trading platform is best, but we can say that the Forex trading software industry is heavily dominated by MetaQuotes Corp - the company behind MetaTrader 4 (MT4). This is the most popular Forex software used by traders in the retail Forex market.

What is the best leverage for a beginner?

Leverage is solely a trader's choice. Most professional traders use the 1:100 ratio as a balance between trading risk and buying power. What is the best leverage level for a beginner? If you are a novice trader and are just starting to trade on the exchange, try using a low leverage first (1:10 or 1:20).

Which platform do professional traders use?

IC Markets' clients have access to a good range of professional platforms – MT4, MT5, and the cTrader platforms. All of these provide excellent charting tools and indicators and can run algorithmic trading strategies 24/7 using the IC Markets VPS service.

Which broker do most traders use?

What platform do professional forex traders use?

The MT4 platform is the go-to for forex traders and provides a wide range of indicators, chart types, and timeframes. You can also access the MetaTrader Marketplace for customized indicators and algorithmic trading strategies.

Why is MT5 popular?

Trading platform MetaTrader5 (MT5)

The trading platform is perfect for those who trades currencies, CFD's and futures. All could be done in one account. It helps traders greatly with numerous instruments for technical and fundamental analysis, multiple time-frames, alert system, etc.

Can I run MT4 and MT5 together?

Running MT4 and MT5 at once is possible; simply open them both up. The only restriction is that the trading accounts be managed on the appropriate application; MT4-based trading accounts on MT4 and MT5-based trading accounts on MT5.

Why MetaTrader is the best?

MetaTrader 4 is built for forex and has been a favorite of traders since its inception in 2005. The platform's analytical capabilities and automated trading systems provide fast and stable order execution. This speed and reliability has allowed MT4 to retain its relevance even among newer platforms like TradingView.

Why is MT4 banned in US?

The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.

Why did MT4 get banned?

In September 2022, a ban on the MT4 and MT5 apps in Apple's App Store, which affected all markets, made headlines. Though the reasons for the decision were unclear, there was speculation that it was related to trading scams published in the iOS app store, impersonating popular trading platforms.

Can US traders use MT4?

MT4 has been the standard for FX, both with U.S. regulated brokers and offshore brokers. MT5 is more often used for U.S. Futures Trading. MT5 unlike 4 comes in two versions: Netting and Hedging.

What are people using instead of MT4?

Other important factors to consider when researching alternatives to MetaTrader 4 include features. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to MetaTrader 4, including thinkorswim, eToro, E*Trade Web Platform, and Binance Broker.

Do people still use MT4?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular trading platforms in the world. MT4 was released in 2005, while MT5 was released in 2010. As of January 2023, there are over 40 million active MT4 users and 10 million active MT5 users. There are a few key differences between MT4 and MT5.

Why do forex traders use MT4?

If you're an intermediate or advanced trader in the forex market, you've likely heard of or used MetaTrader 4, also known as MT4. This popular trading platform is widely used by forex traders for its user-friendly interface, advanced charting capabilities, and automated trading options.

Why was MT5 banned?

Recently, the much-appreciated trading platforms all over the world, MT4 and MT5, have been banned in India. This is a major shock for traders. The Indian government made this decision unexpectedly. It is believed that this happened because these platforms are not registered in India and thus operate illegally.

Will MT5 be removed?

Moreover, the desktop versions of MetaTrader 4 and MetaTrader 5 can be used without issues. Meanwhile, Android users can continue to utilise the platforms since they are still available on the Google Play Store.

Why MetaTrader 5 removed from Play Store?

Why are Meta Trader 4 and Meta Trader 5 apps removed from the Play Store? The removal of Meta Trader 4 and Meta Trader 5 apps from the Play Store might be due to various reasons, such as policy violations, security concerns, or other issues.