MetaTrader (MT4), MetaTrader (MT5) and Wai Hui Jiao Ying Tai (Wai Hui Jiao yi ping Tai) are comparable to Coke (MT4) and Pepsi (MT5) in Wai Hui Jiao yi ping tai. While both are very popular, they appeal to different tastes. To help you make the decision, let’s look at the major differences. Find out more?
MT4, a younger sibling of the MT4, has existed since 2005. The older sibling, MT4, has been around since 2005. MT4 has been praised by traders for its simplicity. Beginners will find it particularly user-friendly, as the interface is not intimidating and has just enough options to get them started.
MT5 on the other is the updated version of that classic vehicle – just imagine added horsepower and a more sleek design. MT5 launched in 2010 isn’t limited to Forex. The platform is multi-asset, so you can trade both stocks and commodities. Like a Swiss Army tool, it’s packed with extra features including more indicators and timeframes.
Next, let’s discuss the execution. MT4’s algorithm is slightly simpler, and while it may be a little bit slower for Forex trades, this will suffice. Faster MT5 can prove to be useful if your trading involves multiple markets.
Next, there is the code-language – nerdy and important. MT4 has MQL4 which is simpler for novices. MT5 employs MQL5, a powerful, but difficult to learn language. If you want to perform heavy-duty algorithms trading, it’s likely that MT5 will be your best choice.
The social butterfly will find both platforms to have features for community chat. MT4’s community has a bigger size due to the longer it’s been on the market. MT5’s community is growing, and new traders join its ranks each day.