Traders who are trading in the Forex market can choose which platform to use. Of course, it is also connected to the brokerage institution you are dealing with, because all kinds of platforms may not be in all intermediary institutions. Moreover, some brokers may not be fully committed to certain Forex trading platforms – the link between a broker’s trading system and the platform takes place through a bridge. This connection is normally satisfactory, but if the bridge runs incorrectly or slowly, there may be problems with the execution and administration of orders.
The Metatrader 4 trading platform is known by everyone and has become a standard in this industry. There is almost no means of direct transaction through the Platform or a non-binding agency that does not provide a link through a bridge;
The Metatrader 5 platform is less common, despite the fact that the company that makes the two platforms is the same. We will need to take a closer look at the platforms to understand why.
What is MT5?
Metatrader 5 was launched in 2010 – 5 years after the Metatrader 4 platform. Since the Metatrader 4 platform has already become very popular at the time of the publication of the new platform, people perceive that this new program is different (superior to the other). This is not really true. The Metatrader 5 platform and the backward test interface are the same as the Metatrader 4. Anyone who has spent enough time with this Metatrader can tell it. The reason why Metatrader 5 is designed is to realize what Metatrader 4 cannot do. Metatrader 5 was originally produced for use in other markets.
Metatrader 5 has been developed to handle the needs of markets (stocks and commodities) other than the Forex market and has the ability to connect to markets managed by a centralized market. Apparently, MetaQuotes has predicted that individual investors’ interest in stocks and commodities will boom – and, of course, has developed the program accordingly.
Another important factor is the ban which is called hedging, is imposed by the United States. Brokers operating in the United States must comply with F.I.F.O (first opened first). According to this rule, for example, if the investor first opens 1 lot EUR / USD long position and then adds to this position, the first position that is first opened during the closing process should be disposed of. The Metatrader 4 platform records each process separately. The Metatrader 5 platform brings together the positions
In short, Metatrader 5 is designed to meet the needs of other markets and US markets except Forex. This is the true story of the Metatrader 4 and Metatrader 5 platforms.
What are the differences between MT4 and MT5 trading platforms?
We have already examined the two most important differences between these platforms, but there are a few small details that need to be mentioned.
Metatrader 5 uses MQL5 as the programming language; Metatrader 4 uses MQL4. What makes the MQL5 language interesting is that the programming language carries innovations appropriate to the design of process robots and buys / sells systems. On the other hand, MetaQuotes transferred all of these features to MQL4 in 2014 as well. In other words, there is no longer any difference between these two programming languages.
The important thing to note here is that there is no compatibility between the two languages. Programs written for Metatrader 4 will not work on Metatrader 5. In other words, it is not necessary to switch to the current one to raise program.
However, Metatrader 5 still has some differences compared to MT4. The first one is that the retrospective process strategies are tested much faster. It also allows for testing more than one parity at the same time. This feature naturally reduces the time spent on retrospective testing.
Which platform is better for you?
After reading the above, you can easily answer this question yourself. Metatrader 5 is the right choice for you if you’re setting up coping with the US regulations, spending significant time on trading strategies, or looking for stocks and commodity markets that are difficult to reach with Metatrader 4. Apart from this, there is no reason why you should not continue with the Metatrader 4. As a result, Metatrader 4 is still the most popular, most preferred and most successful platform of the market.