Web Trader MT5 
Are you having difficulties deciding between MT4 vs MT5? You are not the only one.
This argument has existed for years. Like that old, faithful car, the MT4 is known to be working perfectly, and everyone knows how to utilize it. Most traders began with MT,4 and it remains heavily popular.
But MT5? It is the newer, more sparkly type with additional features and access to the new markets.
The thing is: the choice of platform can really cost you in trading. What they (actually) do and what fits your style is something you need to know about.
Here are the actual differences laid out so that it becomes easier to see what the right choice is.
Why Should You Compare These Two Platforms?
If you take part in forex or CFD trading, you may be familiar with MetaTrader. MetaQuotes is the team that builds these platforms.
They are used by millions of traders in different countries. They have remained the most popular for more than ten years.
Consider MetaTrader to be the hub for your trading activities. All of your market analysis, trading, and money management can be handled at one location.
Why are they so popular? You don’t have to be an expert to start working with them. Also, brokers usually provide them to clients at no additional cost.
So it’s important to explore the differences between MT4 and MT5. You should find a tool that fits the goals you have for your trades.
Why Traders Switch or Choose Between MT4 and MT5
MT4 used to be the most popular one for many years. MT5 has since matured, and a greater number of brokers provide it. This now presents traders with a decision.
But which platform should you choose? MT4 or MT5, and if new, what platform?
The great majority of traders think about this:
- Features: Which one offers you a more comfortable interface to trade?
- What can be traded: Can you do stocks, forex, or futures on the latter?
- Trading robots: How effective are they in automated trading?
- User-friendly: Which is easy to operate?
The most appropriate one depends on the way you trade and what you desire to do.
Main Differences Between MT4 and MT5
At a glance, these platforms appear to be the same. However, at their deeper workings, they differ a lot.
How They’re Built
MT4 operates under the 32-bit technology. It is both lighter and older. It needs only simple computing machines and cannot access a lot of memory. This is something that can slow you down in case you use complex trading bots or lots of charts.
MT5 is based on multi-threading 64-bit technology. This is much superior. It may access more memory and run quicker on newer computers. Multi-threading implies that it has the ability to perform a lot of tasks simultaneously. Your tests are fast since they utilize the power of the entire computer.
Trading Orders
MT5 gives you more control here.
MT4 has four pending order types:
- Buy Limit
- Buy Stop
- Sell Limit
- Sell Stop
It uses basic execution. Your whole order fills, or nothing happens.
MT5 adds two more order types:
- Buy Stop Limit
- Sell Stop Limit
These give you better control over when you enter trades. MT5 can also fill part of your order if the full amount isn’t available. The rest stays active or gets canceled based on your settings.
What You Can Trade
This is where they really differ.
- MT4 was built for forex trading. It can handle some CFDs on stocks and commodities. But forex is its main strength.
- MT5 was designed for everything from day one. You can trade forex, stocks, futures, options, bonds, and CFDs. All from one platform.
If you want to trade different markets, MT5 wins here.
MT4 vs MT5: Comparing Features Side by Side
Let’s examine the key features that differentiate these platforms.
Analysis Tools and Chart Indicators
MT4 gives you 30 built-in indicators and 31 drawing tools. This includes lines, channels, and Fibonacci tools. Most traders find this enough.
MT5 steps it up with 38 indicators and 44 drawing tools. You get more options for chart analysis. Plus, you can build more advanced custom indicators.
For example, MT5 has extra Elliott Wave tools and more types of moving averages.
Automated Trading and Programming
Here’s where things get technical.
MT4 has the MQL4 programming language. It is easier to learn. There are thousands of free indicators available online, and robot traders. Moreover, the MQL4 community is enormous.
On the other hand, the programming language of MT5 is MQL5. It is more capable yet more difficult to learn. You are able to create more advanced trading systems using it.
Here’s a warning, though: both MQL4 and MQL5 are not compatible. A trading robot compiled for MT4 will not support MT5. It is something you have to reconstruct.
Charts and Market Analysis Tools
The MT4 provides 9 timeframes. These include basic 1-minute all the way to monthly charts.
MT5 provides you with 21 timeframes. These also cover unusual ones, such as 2-minute and 3-minute charts. Scalpers adore those additional alternatives.
Both platforms display line, bar, and candlestick charts. MT5, however, has superior customization.
MT5 has an economic calendar as well. You can view forthcoming news events without having to go off the platform. This is not an in-built feature in MT4.
Comparative Table of Features
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Architecture | 32-bit | 64-bit, Multi-threaded |
| Pending Order Types | 4 | 6 (includes Buy/Sell Stop Limit) |
| Partial Order Fills | No (typically Fill or Kill) | Yes (supported) |
| Market Depth | Basic | Advanced (Level II quotes) |
| Supported Assets | Primarily Forex, CFDs | Forex, CFDs, Stocks, Futures, Options, Bonds |
| Built-in Indicators | 30 | 38 |
| Graphical Objects | 31 | 44 |
| Programming Language | MQL4 | MQL5 (more advanced, object-oriented) |
| Timeframes | 9 | 21 |
| Strategy Tester | Single-threaded | Multi-threaded, more advanced, real-tick data support |
| Economic Calendar | No (requires external sources) | Yes (built-in) |
| Hedging Allowed? | Yes (standard) | Yes (but also supports Netting account types) |
| Netting Allowed? | No | Yes (for exchange markets like stocks) |
| Symbol Limit | 1024 symbols | Unlimited symbols |
Markets and Assets You Can Access
Let’s break down what each platform offers.
Analysis Tools and Chart Indicators
MT4 comes with 30 indicators and 31 drawing tools. You get lines, channels, and Fibonacci tools. Most traders find this plenty.
MT5 gives you more – 38 indicators and 44 drawing tools. Plus, better custom indicator options.
Automated Trading and Programming
MT4 uses MQL4 code. It’s easier to learn. Tons of free trading robots are available online.
MT5 uses MQL5 code. More powerful but harder to master.
Warning: These don’t mix. MT4 robots won’t work on MT5.
Charts and Analysis
MT4 has nine timeframes — from 1-minute to monthly charts.
MT5 offers 21 timeframes, including 2-minute and 3-minute options. Great for quick traders.
Both show standard chart types. MT5 has slightly better customization, though.
How to Trade Stocks on MT5
Here is what makes MT5 so unique. You may purchase real stocks at actual exchanges such as the NYSE and NASDAQ. You must have a broker that is compatible with this approach.
It is not the same as MT4. Traders on MT4 normally deal in stock CFDs. So, you make a bet on share prices without holding any of the stock.
MT5 gives you the status of a true shareholder. Let’s say you want to purchase 100 shares of Apple. You are able to invest and become a direct owner. An Apple CFD is the only thing you can trade within MT4.
With MT5, you can check market depth. This lets you know how much each price will cost you when buying shares.
Speed and Performance Comparison
How Fast Orders Execute
MT5 runs faster than MT4. It can handle multiple tasks at once without slowing down. Your charts, indicators, and trading robots all work smoother together.
The improved code and 64-bit design help orders execute quicker. This matters if you’re a fast trader who needs every millisecond.
Computer Requirements for Each Platform
MT4 works on older computers. It needs less memory and processing power. That’s why it became so popular early on.
MT5 needs a more modern computer with more memory. But today’s computers handle this easily. The extra performance is worth the higher requirements.
Testing Your Trading Strategies
MT5 wins big here for robot traders.
MT4 tests strategies slowly. It does one thing at a time using fake price data. Testing complex systems takes forever.
MT5 uses multiple computer cores to test much faster. It also uses real price tick data for more accurate results.
For example, testing a 5-year strategy might take hours on MT4 but minutes on MT5.
Common Problems and Solutions
Both platforms work well most of the time. But sometimes you’ll hit a snag. Don’t worry – most issues are easy to fix.
One problem traders often face is the “New Order” button turning gray. You can’t click it. This happens on both MT4 and MT5.
Here’s what usually causes this:
You’re not logged in properly. Check the bottom right corner of your screen. Make sure you see “Connected” there.
The market you want to trade in is closed. Some assets only trade during certain hours. Right-click on the asset name and check its trading times.
Your account has issues. Maybe you don’t have enough money for the trade. Or your broker paused your account for some reason.
Sometimes the platform just needs a refresh. Click somewhere else on the screen, then try again.
Still stuck? Check your internet connection first. Then contact your broker for help.
Which Platform Should You Choose?
There’s no perfect answer here. It depends on what you need.
Best Choice for New Traders
MT4 might be easier if you’re just starting. Why? It’s simpler. Fewer buttons and fancy features to confuse you.
Plus, MT4 has been around longer. This means tons of free guides, videos, and help forums online. You’ll find answers to your questions faster.
But don’t count out MT5. It’s also beginner-friendly. Learning the newer platform might help you long term.
Best for Automated Trading Systems
Want to build trading robots? MT5 wins here. It has better programming tools and can test your strategies faster using multiple computer cores.
MT4 has more ready-made robots available online. But if you’re serious about creating your systems, MT5 gives you more power.
Best for Trading Different Markets
MT5 is your only choice if you want to trade real stocks, futures, or bonds. MT4 mainly handles currency pairs and CFDs.
Best for Currency Trading
Both work great for forex. MT4 is proven and reliable. MT5 is faster with more features. Pick based on what feels right to you.
Which Platform Fits Your Trading Style
The decision between MT4 and MT5 depends on the trading activities you would like to get involved with. In order to understand it better, let us take practical examples.
When you want to trade in EUR/USD only, it is a significant pair. Why not add to this some gold also? You prefer to have your equipment simple. MT4 can work well in this regard. There is a great deal of free online tools and guides.
Nevertheless, you might wish to develop your trading robots. You intend to trade in stocks and forex, as well as futures. MT5 is the right choice in case you prefer offshore investing. Traders deal with complex procedures and diverse markets.
Are you new to trading? You have not the slightest idea the subject of your course? MT5 enables you to improve your knowledge and experience. It also has more buttons and options. You can take your time and experiment until you find one and start with it.
What if the platform of your broker is solely MT4? Is everything in your study based on MT4? You do not even need to abandon MT4. You will have good odds of succeeding with both of these platforms.
Final Thoughts
And so, there is no such thing as a perfect platform with MT4 vs MT5. It depends on your needs.
MT4 is basic and stable, which is fantastic when you are a beginner in forex. MT5 contains additional bells and whistles, as well as different markets.
The thing is, have a clue to stop thinking too much about it.
Open demonstrative accounts on both platforms. Experiment with them for a week. Find out which one suits you best when you are executing orders.
Your instinct will tell you which one is right. Believe it, choose and begin trading. That is the way you get any learning.
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