MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms for forex and other financial markets, but there are several differences between them. Here are some of the main differences:
Asset Classes: MT4 is primarily focused on forex trading, while MT5 is a multi-asset platform that allows traders to trade not only forex but also other financial instruments, such as stocks, futures, and commodities.
Timeframes: MT5 offers 21 different timeframes, compared to the 9 timeframes offered by MT4. This gives traders more flexibility in analyzing the markets and developing their trading strategies.
Technical Indicators: MT5 offers more than 80 built-in technical indicators, compared to the 30 indicators offered by MT4. This gives traders more tools to analyze the markets and identify trading opportunities.
Strategy Tester: The strategy tester in MT5 is more advanced than in MT4, allowing traders to test their trading strategies on historical data with more accuracy and precision.
Netting and Hedging: MT4 only supports the netting trading mode, while MT5 supports both netting and hedging. This gives traders more flexibility in managing their trades and executing their trading strategies.
User Interface: MT5 has a more modern and user-friendly interface than MT4, with improved charting capabilities and more customization options.
Overall, while both MT4 and MT5 are popular trading platforms, MT5 offers more features and capabilities than MT4, making it a more advanced and versatile platform. However, some traders may still prefer MT4 due to its familiarity and widespread use in the forex industry.