Comparison of MT4 and MT5
MetaTrader 5
MetaTrader 5 is a modern and multi-functional trading platform that offers advanced capabilities for analysing and trading in various financial markets. Its advanced features and increased transaction speed make MT5 a great choice for traders of all levels.
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Year released | 2005 | 2010 |
| Order types | Market, limit, stop, and trailing stop orders | Market, limit, stop, trailing stop, and stop limit orders |
| Order execution types | Market execution, instant execution | Market execution, instant execution |
| Markets | Forex, CFDs | Forex, CFDs, stocks, futures, options, bonds |
| Trading with Libertex | CFDs | CFDs |
| Technical analysis | 30 technical indicators | 38 technical indicators |
| Chart items | 24 | 35 |
| Number of timeframes | 9 | 21 |
| Market depth (Level II) | No | Yes |
| Economic calendar | No | Yes |
| Strategy testing | Single-threaded testing | Multi-threaded testing, tests on real ticks |
| Reports and analysis | Standard reports | Advanced reports and analysis capabilities |
| Custom interface | Intuitive, older version | Updated interface with improved functionality |
| Hedging | Yes | Yes |
Pros of MetaTrader 5
- Advanced technical analysis
The platform offers 38 built-in technical indicators and 35 chart items, which is a significant increase compared to MT4.
- More timeframes
MT5 has 21 timeframes available versus MT4's 9. This allows traders more flexibility in analysing market movements on different timeframes.
- Economic calendar
The built-in economic calendar allows traders to stay abreast of current events and react to market changes in a timely manner.
- Expanded features
MetaTrader 5 offers a wider range of order types, such as stop-limit orders and improved market depth (Level II).
- Multi-market platform
MT5 supports trading for forex, CFDs, stocks, futures, options and bonds. This allows traders to diversify their trades and use one platform for multiple purposes.
- Improved user interface
The updated MT5 interface makes working with the platform more convenient. Improved navigation and additional features allow traders to execute trades faster and more efficiently.
- Additional analysis tools
MT5 provides advanced reports and tools to analyse your results better and improve your strategies.