MetaTrader 4 vs MetaTrader 5: Which Is Better
The names might let you think that MT5 is an updated version of its predecessor. In fact, these are two completely different platforms, and the differences between them are huge. Let's look at which version is better to choose.
Advantages of MetaTrader 4 (MT4)
Convenience for Forex. MT4 was originally designed specifically for the Forex market. If your main interest lies in this direction, MT4 may be the most suitable option for you.
User interface. Many traders find the MT4 interface to be simpler and more intuitive, especially for beginners.
Advantages of MetaTrader 5 (MT5)
Multifunctionality. MT5 provides access not only to Forex, but also to stocks, futures and other markets. If you are interested in diverse markets, MT5 may offer more options.
More advanced analysis tools. MT5 includes more time frames, more order types and an economic news calendar right within the platform.
Customized indicators. The fifth version offers greater opportunities for developing complex systems and indicators.
Hedging. In the initial versions of MT5 there was no hedging option, but this was added later due to community demands. MT4 still doesn’t have this function.
Bottom line
MT4 is an older platform tailored for the foreign exchange market, while MT5 is a newer, feature-rich platform with advanced trading tools. Some old-school traders prefer to trade on MT4 the old-fashioned way because of the familiar interface. And still, MT5 is obviously better.
Does MetaTrader 3 exist?
Yes, MetaTrader 3 is the predecessor of MT4 and was released by MetaQuotes in the early 2000s. However, today this platform is too outdated to be used. Therefore, MetaTrader 3 and even earlier versions live only in the memory of online trading dinosaurs.
The most versatile trading platform
The advantages of MetaTrader 5 are its versatility and the ability to trade in different market sectors. FIXONE Global Trading has taken these qualities to the point of absolutism. In FIXONE Meta Trader 5 you can trade simultaneously in 9 market sectors, including Forex, cryptocurrencies, futures, precious metals and CFDs. New traders receive a +30% deposit bonus when registering an account. Today it is the most feature-rich trading platform on the market.