MetaTrader Showdown MT4 vs MT5 – Which MetaTrader is Best for You?

MetaTrader 4 (MT4) MetaTrader (5 (MT5) is like Coke in Wai Hui Jiao Ping Ta. The two are equally popular, yet cater to different tastes. You can decide for yourself which suits your trading style best by comparing the main differences. Get more info?

MT4 is the older of two siblings and has been in existence since 2005. It is similar to a vintage car. Not the most recent model, yet reliable and well-loved by many. Traders love MT4 because it is so simple and easy to use. It is especially friendly to beginners with its less intimidating interface, which has only enough features for you to start without being overwhelmed.

MT5, meanwhile, is a modernized version of a classic automobile – it has more horsepower and slicker styling. MT5, launched in 2010, isn’t exclusive to Forex. You can trade stock and commodities on this platform. It is more like a Swiss Army knives, full of additional features. These include more indicators timeframes graphical elements.

Let’s move on to execution. MT4 may use a simpler algorithm that is a tad bit slower, however it will be sufficient to trade Forex regularly. When you need to handle multiple trades, MT5’s speed can come in handy.

Also, the programming language is important. MT4 relies on MQL4 for its coding language, which makes it easier to understand by beginners. MT5 relies on MQL5, a much more powerful programming language, with a steeper learner’s curve. If you intend to engage in heavy-duty algorithmic trades, then MT5 may be for you.

MT4 and XM offer features to chat with other users. MT4 enjoys a more active community, due to its longevity in the industry. MT5 is catching on, however, and every day more traders join the ranks of MT5.