What are the differences between MetaTrader 4 and MetaTrader 5?

There is no need to choose which is better between Metatrader 4(MT4) and Metatrader 5(MT5). MT5 is not an upgrade to MT4. Both carry out different functions. MT4 trades only decentralized markets like Forex while MT5 covers both decentralised and centralised markets and can trade forex, stocks, commodities etc.

MT4 is a FOREX trading platform designed for CFD forex instruments, but it does not include other assets.

MT5 is an all-in-one state of the art multi-asset trading platform that includes stocks, futures and FX trading instruments. Since MT5 is better than MT4, we recommend using it to maximise its speed and efficiency.

MT5 permits both hedging and netting. An example of netting is if a trader were to enter into a long position for 1 lot on, say the EUR/USD and then enter a second lot in the same market, the initial order entry would become one position, as opposed to two different positions.

MetaTrader 4 is not the same as MetaTrader 5. They each offer a different service to traders, and they don't necessarily differ in their functions. MetaTrader 4 is built explicitly for forex traders, whereas MT5 was designed to provide traders with access to CFDs, stocks and futures.

Which is better between MT4 and MT5?

MT4 was built to trade Forex, but MT5 was designed to allow easier trading in non-Forex CFDs. They use different programming languages, and MT5 allows faster backtesting than MT4.

MT5 also allows a DOM (depth of market) functionality and is technically supported by MetaQuotes, unlike MT4.

The key difference between MetaTrader 4 and MetaTrader 5 is that the former was constructed to trade forex while the latter was created to facilitate easier trading of non-forex CFDs.

But there are other components that separate the MetaTrader 4 vs. 5 debate.

Both trading platforms possess unique programming languages, with MT5 enjoying faster back testing than its counterpart.

Many traders, particularly novice investors, prefer MT4 because of its simple and easy interface. Plus, the trading platform allows for easy customization.

MT5, on the other hand, has plenty of additioanl trading features that include the option to trade futures and stocks. There are also extra services and timeframes.

Here are some other considerations:

MT4

• 30 in-build indicators
• 33 analytical objects
• Two types of market orders
• Four kinds of pending orders
• Two different execution modes

MT5

• 38 in-build indicators
• Economic calendar tab (news events, schedules, and forecasts)
• Six types of pending orders
• Depth of Market (DOM) access
• Log files are automatically compressed

Overall, experts aver that MT4 is the best platform, although it is older. That said, you can always install modern add-ons to enhance the MT4 trading experience.