What is Difference between MT4 & MT5 ? MetaTrader 4 vs MetaTrader 5

MetaTrader 5 is an institutional multi-asset platform offering outstanding trading possibilities and technical analysis tools, as well as enabling the use of automated trading systems (trading robots) and copy trading
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Joined: Sat Aug 19, 2017 3:44 pm

Sat Aug 19, 2017 3:59 pm

What is Difference between MT4 & MT5 ? MetaTrader 4 vs MetaTrader 5
Now a Days listening lot about MT5 but i havent tried it so want to know what is difference between MT4 and MT5. The Metatrader 4 trading platform is very well known and can definitely be said to set the industry standard. I have never seen a Forex broker that does not either offer trading directly through the platform or through an in-house bridge to the platform, although this can be at the cost of a slightly higher spreads and/or commissions. The Metatrader 5 trading platform is somewhat less commonly offered, although it is produced by the same company (the Cyprus-based MetaQuotes Software Corporation)
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Sat Aug 19, 2017 4:21 pm

Few Major difference between mt4 vs mt5 are :
  • MT5 has a new brand new language and better scripting tools for writing custom indicators and expert advisors. I believe it resembles closer to C++ or similar. MT4 has a older language called MQL ("MetaQuotes Language") which doesn't resemble C++ but has a huge amount of indicators already written in it. Since build 600+ MetaQuotes have actively tried to push the MT4 community to write in their new language, so far they have not been successful in my opinion with major backlash from existing developers.
  • For the broker MT5 can trade more then just FX. I believe it can do CFD's, Stocks or any commodity as long the broker supports it. MT4 was primarily build for FX trading only and some CFDs.
  • MT4 has a huge community behind it and many brokers support it. It also has a huge amount of indicators written for it. MT5 has struggled to gain support from customers and brokers and programmers to make it valuable to the end consumer.
They are quite similar, though MT5 has more features built-in, such as :
  • 21 time-frames (from M1, M5, M20, to monthly and yearly time-frames) in comparison to MT4 9 time-frames;
  • 38 indicators in comparison with MT4's 30 indicators;
  • A separate economic calendar with news, events and forecasts;
  • An improved strategy tester; There are more such differences, however, if you are a beginner, MT4 is simpler and more suitable for you.
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Sat Aug 19, 2017 4:25 pm

The two major differences have already been covered, but there are a number of others worth mentioning within any MT4 and MT5 comparison.
Metatrader 5 uses a programming language called MQL5 as opposed to the MQL4 used by Metatrader 4. The exciting thing about MQL5 is that it allows “black box” programming which, in a nutshell, means that it is easier to program and so will logically be a better framework for users and developers of trading robots and other expert advisors. However, MetaQuotes expanded this capability into MQL4 in 2014, so it is not a difference between the platforms any more, although there is a likelihood that if the language is upgraded at some time in the future, MetaQuotes will not extend any upgrades into MQL4 as well as MQL5
It should be noted that there is no backwards compatibility. Programs written for Metatrader 4 cannot run on Metatrader 5. This can be a serious drawback for traders who were wishing to “upgrade”, and is a key reason why such a change shouldn’t be seen as an upgrade.
It is true that Metatrader 5 retains two key programming-related advantages over Metatrader 4. Firstly, its back testing functions where you can test programmed trading strategies execute at a much faster speed, which is a feature that can save you a lot of time if you are the kind of trader who needs to run a large number of back tests. It also allows simultaneous multi-currency pair back testing. Together this can speed up back testing procedures immeasurably.
New release of MT5 Build 1085. Features includes new Virtual Hosting Service. A virtual server for a trading account can now be rented right from the client terminal. Fixed built-in Gator Oscillator technical indicator calculation and parameter management plus other fixes in MQL5 Cloud Network for the Tester Agents. Documentation updated as well.

1. Installation :

MT4 is still simple and straightforward. Broker server address required during account opening during installation.
MT5 nothing has changed recently. Metaquotes trading server now included as a default in the opening account phase of the installation. Ability to add new server from MT5 for a demo account included. Web installer also available

2. Indicators & Analytical Object tools :

MT4: 30 inbuilt indicators, 33 analytical objects
MT5: 38 inbuilt indicators. New indicators added. 22 Analytical Objects, & 46 graphical objects.
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