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Forex Education

MT4 vs MT5: How To Find The Best Choice For You

August 23, 2018
BY Emma Richards

MT4 vs MT5. It’s the battle of the trading platforms. 

On the one hand, traders have access to the widely used and highly respected MetaTrader 4 terminal, which has been a trader favourite for 13 years. As of January 2018, MT4 is no longer being sold by MetaQuotes. While existing users can still use MT4, there will be no new updates or improvements to this platform

On the other, traders can make use of the exciting new features of its next-generation successor, MetaTrader 5.

So which one is right for you?

MetaTrader 5

MetaTrader 5, MT5, is an incredibly powerful trading platform, particularly when it comes to technical capabilities. While beginners will have no problem using it to trade, it is clear that many of its improvements have been made to better serve the experienced trader community.

From tools to better create and edit automated Expert Advisors, to more pending order types to choose from, there is a wide array of advanced functionality to help experienced traders get the most from their trades.

MetaTrader 5 is ideal for experienced traders, looking for:

  • Functionality not offered on MT4
  • The latest technologies
  • The chance to build their own EAs
  • Opportunities to trade in timeframes not offered by MT4

MetaTrader 4

MetaTrader 4, MT4, has been a standard platform of the retail forex community for good reason. While it comes packed with functionality, it is also highly user friendly.

With minimal training, new traders can start trading on the platform quickly and easily. As their interest in and knowledge of trading grows, they can start to discover the extensive catalogue of indicators, scripts, and EAs from the active MQL4 community.

MT4 is therefore ideal for:

  • New or developing traders
  • Casual and part-time traders who don’t need the extended functionality of MT5
  • Traders deeply active within the MQL4 community

MetaTrader 4 V. MetaTrader 5: An In-Depth Look

Don’t just take our word for it though. Check out the comparison list of features below for a closer look at the differences between the two powerhouse platforms.

MT4 vs MT5: The platforms compared

Opening an MT5 account with Exness and trying it for yourself is easy. Simply head through to your Personal Area and open an MT5 account. Then launch WebTerminal or download the MetaTrader 5 to start experimenting!

If you don’t have an Exness account, open one today and try our the power of MT5 for yourself.

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Confident in your trading skills? Open an account and start trading with Exness