MT4 and MT5: What’s the Difference?

If you only just started your trading journey, chances are you’ve already heard of MetaTrader 4 and MetaTrader 5. It is also likely that you don’t yet know if there are any alterations between them. There is no need to worry considering how many trading softwares are open for forex and other sorts of trading nowadays — it’s impossible to know every single of them. These two, in particular, are rather popular and for a good reason. They are considered to be some of the most convenient trading systems. This is why we are going to help you learn more about them down below. 

To fully comprehend the volume of MetaTrader 4’s popularity, check out their list of brokers, and you will see how many of them use it daily. The numbers might surprise you, but they are true. MetaTrader 5 is only becoming as popular because it is a much newer version of MT4 and it is also tailored for other traders’ purposes. The contrast between the two is quite remarkable, and we are going to tell you all about it. 

MetaTrader 4

As we already established, MT4 is a more ancient version of MT5. It was presented back in 2005 by MetaQuotes Software and it operates on a matchless language, MQL4. To this day, it is the most renowned and recognized system in the industry. Although it was built to operate as an independent platform, some developers have managed to write software bridges to integrate it with other financial trading systems. One way or the other, more than half of the world’s forex traders use it in their pursuits of profit.

The system was initially tailored for forex and CFD traders. Almost instantly the platform became indispensable to the industry. Most brokers you will deal with will either provide you with direct access or use a bridge to bring you to the platform. Apart from the functionality of the platform, the user experience it provides is on the next level. Considering the number of users the platform has, there is no reason to doubt its performance.

MetaTrader 5

MetaTrader 5 is a platform of a new generation, launched in 2010. It is an evolved version of MT4 that offers more time frames, more detailed market data, and an economic calendar. Moreover, MT5 is written in a unique language, MQL5, that is compatible with its older version (MQL4). This, however, does not work the other way around, so MT4 cannot read MQL5.

Unlike the original version, MT5 is built not only for trading forex and CFDs, but stocks, commodities, and many more. This time the goal behind the platform’s creation was to target a new pool of traders without compromising the success of MT4. So, whatever it is you’re looking to trade with you can confidently go for MT5:

Which One to Pick?

The answer to this question only depends on what it is you’re going to trade. MetaTrader 4 has been the first-picked platform for anyone interested in forex and CFD for the past 15 years. So, if this is what you’re after, there is no reason to look into any other platforms. If you’re trading with a broker, the chances are they won’t offer you any other alternatives anyway. And why would they — it was established who’s the best on the market a long time ago.

If you are, however, chasing the big fish and want to invest in stocks or futures, or if you’re trying out a bit of everything, you might want to go with MetaTrader 5. The upgrades the platform offers improve the overall experience of any trader, while the platform also offers useful tools for any type of trading there is. Whatever you choose, you cannot go wrong with either of these platforms. Once you make your choice, remember to do research and not rush into the market head first. Be patient, don’t stop learning, and any platform you pick will work to your advantage.