MetaQuotes software is undoubtedly one of the best manufacturers of trade From the world. Its MetaTrader models are recognized for their quality, reliability and technical ability among global investors. Many brokerage houses and financial institutions of all kinds recommend it to all their clients or clients the active parties.
However, there is a fierce debate among users as to which of the MetaQuotes platforms is better: MetaTrader 4 or MetaTrader 5.
classic resist
MetaTrader 4, since 2004, is an absolute classic of trading platforms. trade And one of the most famous all over the world. Despite its nearly twenty years of existence, the constant updates it has undergone over time have allowed it to remain at the top of the market.
Launched in 2010, Metatrader 5, the natural alternative, updates all the content and tools of the previous model, as well as offering a new, more complete and comprehensive approach to other markets.
However, as happens with true classics, when they became cult originals, the move to MT5 met tremendous resistance from investors who saw themselves entirely in the MT4 paradigm. Since both are on the market at the same time, comparisons and discussions about which one is better have not stopped.
Today we do not evade the topic and here we explain the main advantages and disadvantages of each of them, which are highlighted by both fans and detractors.
comparison records
area
MetaTrader 4 is a platform focused on the foreign exchange market, otherwise known as Forex. Although it can be used to invest in stocks, cryptocurrencies, and other financial asset markets, it is primarily designed and built for forex.
The reason for its success is largely due to the fact that it is considered one of the simplest and most accessible platforms for anyone starting out in the foreign exchange market. However, it does so without overcomplicating it with unnecessary information and taking into account all the essential elements of analysis.
MetaTrader 5, in turn, is a multi-purpose platform and does not focus solely on forex, unlike its predecessor. It has all the asset markets in MetaTrader 4, except that, being considerably more technical and having a larger set of tools for in-depth analysis, it ends up with a broader and more general suitability range.
programming language
One of the advantages of MT5 over MT4 is that the former comes with the brand new MQL5, the new platform programming language.
MQL5 is superior to MQL4, its predecessor, due to its greater algorithm processing capacity, more effective and immediate error detection and also due to its superior speed in calculating and executing orders by trading bots. trade.
However, there are those who argue that MQL4, due to the updates that have taken place in recent years, is not far from its successor and that this feature has, in a way, been practically eliminated.
time periods
In what is an important tool for both, MT5 has 21 time periods, ranging from 1 minute to 1 month, compared to 9, ranging from 1 minute to 1 year, offered by MT4.
This first difference gives a huge advantage in terms of user analysis work, providing a better opportunity to observe patterns of market behavior over time.
conclusion
The idea running through this analysis is that MetaTrader 5, in its natural desire to improve on the service provided by its predecessor, has ended up destroying its main asset: simplicity. MetaTrader 4 was known for its ease of use and focus on the forex market, while MetaTrader became a more advanced and general platform.
Thus, the conclusion we draw from this reinvention is that MT4 and MT5, despite offering the same service, end up serving different audiences: a less experienced Forex-focused audience, in the first case, and a more professional and multifaceted one in its investments, in the the second.