MetaTrader 4 vs MetaTrader 5
So, what is the difference between MetaTrader 4 and MetaTrader 5?
Metatrader4 is a trading platform that has plenty of different features, starting from modern instruments for financial analysis to an ability to set trading robots and automate some deals. Metatrader5 is a more extended and improved version of MT4.
Both platforms have their own benefits, so there thousands of supporters of each app’s version.
Let’s find out the common features and differences between Metatrader 4 and Metatrader 5:
MT4 is user-friendly and easy to install utility. MT5 has a little bit more complicated installation process, since it includes an ability to try demo-account. Both versions are available for Android and iOS devices.
- Timeframes and Charts
The older version of Metatrader offers 9 different timeframes, while MT5 contains plenty of various timeframes and unlimited number of colorful charts.
- Fundamental Analysis
Metatrader 4 does not include in-built Forex Calendar. However, the newest program’s version has its own awesome calendar with an ability to set schedules, forecasts, etc.
MT4, unlike the latest app’s version, does not provide commerce on its platform.
- Indicators and Tools for Analytics
Metatrader4: 33 analytical objects and 30 inbuilt indicators
Metatrader5: 38 indicators, 46 graphical objects and 22 Analytical Objects
MT 4 is ready to offer its users two market orders, four pending orders, two execution modes, two stop orders and one trailing stop
MetaTrader 5 has only two market orders, six pending orders and two stop orders.
Metatrader 4 allows all kinds of trading methods, while the newest platform doesn’t support implements FIFO and hedging by default.