MetaQuotes Software is the developer of both MetaTrader MT4 and MetaTrader MT5 respectively. Because of their superior customer service, they are the most widely used trading platform in the world. Millions of traders use them every day. There is a big difference between the two platforms, and it is crucial to understand that difference to help you decide which platform is best for you.
The MetaTrader 4 platform was launched in 2005. It has been the most used platform by forex traders since then. It’s well-known for its easy access to the financial markets. It was originally designed to trade forex. However, it can also be used for other assets like stocks and indices. It’s easy to use and customizable, so both novice and experienced traders love MT4. The traders can implement any strategy they wish because there are advanced tools available for trading.
MetaTrader 5, a multi-asset platform, was launched in 2010. It is faster, more efficient and better than MT4. It is not yet able to replace MT4 completely, as it has different features from MT4. It can trade instruments on almost all financial markets, including cryptocurrencies. MT5 provides advanced technical analysis as well as features such as trading robots.
MT4 uses MQL4, MT5 uses MQL5 for their programming languages. MT4 does not have a partial ordering policy, but MT5 does. MT4 does not allow fund transfer between accounts, but it is possible in MT5. MT5 account provides this feature, but MT4 does not. MT4 is ideal for beginners as it is simple and easy to use. It was originally designed with traders in mind, so it is easier to use than MT5.
The above comparison shows that MT5 is more feature-rich than MT4, but not better. Both platforms are different and traders can choose which one suits their needs best. If you’re new to trading, MT4 is the best platform as it offers all the features you require. Once you have gained some trading experience and are comfortable with MT4, you can switch to MT5 if your needs change.