Difference between Trading Platforms
MetaQuotes’s wish for improving Forex trading experience directed to design of MT5 platform. With 1.1 million lines of code MT5 trading platform has several new features that MT4 platform, that was designed with more than 0.6 Million lines of codes. It took MQL almost more than 3 years to finish the design of MT5, whereas MT4 took 3 years and 4 months to finish its design. However, it is obvious that most Forex traders still love to use MT4.
There are so many differences between MT4 and MT5 platforms, which is what this article is all about. We expect this will help you obtain a clear vision of both platforms, and possibly change your mind to migrate to MT5 or continue with MT4.
It is very important we analyze and compare between the two recognized trading platforms to take full advantage of our trading achievements online.
Analytical Tools: MT5 terminal has 79 analytical tools with 21 different time frames which makes it possible to open 100 charts at the same time while MT4 terminal provides facilities of nine time frames for trading and 50 included indicators for trend analyzing, market opening and closing points.
Execution: MT4 just supports three (3) types f execution – instant, request and market whereas the new MT5 terminal supports four (4) types of execution – Instant, Request, Market and swap execution. Thus, both of them include all kinds of market orders like – market, pending and stop orders.
Compatibility: MetaQuotes has released an endorsed statement that there will no combinations between the two trading platforms. This comes about because of the improvement of new languages for latest MT5 with the aim to improve execution speed. Therefore, EAs .ex4 and .mq4 files are incompatible with the MT5 platform. The file compilation from MQ4 to EX4 is quick, approximately immediate while in the MT5 it looks to be a long journey somehow!
Position Management: In agreement with the National Futures Association (NFA) and most European regulatory bodies, the terminal MT5 has been developed to hold only one position for any solo trading currency pair or instrument. This directed to get rid of hedging strategies for traders with MT5.
User Interface and Chart: Apparently MT5 is well spaced and has more bulkier icons compared to the solid layout seen in MT4. Because of the more graphic in MT5, it supposed to take more memory and CPU property when running the application on laptop or desktop computers.