MT4 vs MT5: Which one to choose

MetaTrader platforms: MetaTrader 4(MT4) or MetaTrader 5(MT5)

MT4

MetaTrader4(MT4) is a commonly used trading platform in the forex market. On this platform, the trader can easily follow price fluctuations in real time. It is also possible to analyze price charts over different timeframes. When you are deciding whether to open or close a buy or sell position, it makes it relatively easy to identify a trend. MT4 can be used on both mobile and desktop devices.

MT5

The MetaTrader 5(MT5) was developed five years after MT4 and has some additional features.

In MT5, traders could use 38 technical indicators and 44 graphics objects to ensure accurate technical analysis. The calendar will also be used to update traders on the most recent macroeconomic news. MetaTrader 5 allows hedging and setting net value.

MT5 offers two market orders, six to-do lists, two stop loss orders, and a trailing stop loss order. Unlike MetaTrader 4, the latter platform only offers two market orders, four pending orders, two stop loss orders, and a trailing stop loss order.

MT4/MT5 in the eye of WikiFX

On WikiFX, you can see a lot of reputable brokers with MT4/MT5 trading platforms have been marked as “ MT4/5 full license”.

The MT4 is currently the most popular forex trading platform along with the MT5 on the market. With a user-friendly interface, powerful charting tools, and a large number of custom indicators, MT4 is available for automated trading and EA trading, helping traders of all levels to develop different trading strategies and help traders to get ahead in the financial markets. In today‘s forex market, many reputable forex brokers use both MT4 and MT5 platforms as their main trading platforms. Most importantly, a reliable trading platform is significant for traders to ensure their funds’ safety. WikiFX advises investors to choose a broker using the MT4/MT5 platform.