Metatrader or MT is a trading platform used by many Forex brokers. It is developed and distributed by MetaQuotes Software Corp,
a Russian company specializing in software for the financial markets. Today, Metatrader is at version 5. Discover the differences between MT5 and its predecessor Metatrader 4.
A few words about Metatrader
Metatrader is a trading software that has been developed mainly for retail investors. Today, several brokers offer a customized version of this platform such as ETX Capital. In all cases, the purpose remains the same: to allow investors to speculate under the best conditions. This platform is used by both novices and regulars. Thanks to its own language (MQL), Metatrader offers a host of advantages to traders.
In addition to having the possibility to consult the Expert Advisors (an automatic script allowing the management of positions and orders without having to intervene), they can consult a trading history as well as several other useful information without forgetting the indicators. But what changes between MT4 and MT5?
The major differences between MT4 and MT5
Although MT4 and MT5 have similar appearances, there are differences between the two versions. MT5 offers easier navigation, thanks to a larger button size and a more spacious visual. However, this implies smaller graphics than MT4.
In terms of indicators, MT5 outperforms MT4, which was already appreciated for the multitude of indicators available to traders. MT5 offers various new features such as the exponential moving average, the dynamic average of the variable index or the weighted moving average.
As far as coverage is concerned, MT5 does not include support for coverage or multi-coverage. However, this is an important criterion for many traders. However, they have the possibility to cover with plug-ins to take advantage of it.
In terms of brokerage, MT5 offers 4 ways to execute trades for only 3 for its predecessor: instant, market, exchange and demand (exchange not being available on MT4).
On the order side, the MT5 offer is much more elaborate. In addition to the two market orders already found on MT4, there are also additional open and stop orders, a sell limit, a final stop and the possibility of a one-click brokerage.
As for the graphs, the offer is quite similar except that MT5 proposes 21 steps for any financial tool instead of 9 only for PT4.
Finally, for the technical analysis, MT5 includes 38 indicators compared to 30 for MT4. As for alerts, they arrive both by text messages and by messaging (by messaging only for MT4).
For the time being, traders mainly use MT4 and this situation will probably remain as it is unless MT5 evolves and offers performances sought by the “fans” of its predecessor.