Is it time to switch to MetaTrader5?


MetaTrader4 developed by MetaQuotes Ltd is known as the most widely used and popular trading platform for Forex trading. MetaTrader5 is the successor with multiple improvements and additional features added to the platform. Despite the new version, the transition to MetaTrader5 has actually been very slow. There are still many brokers offering MetaTrader4 while MetaTrader5 gains ground slowly. So what is the best trading platform for Forex traders in the market right now? 

MetaTrader5 vs MetaTrader4

MetaTrader4 was initially developed for Forex trading only. Some brokers do provide CFDs on stocks and futures  in MetaTrader4, however, there is no native support for various financial transactions that are used in the stock and futures markets. MetaTrader5 was created as a multi-asset trading platform and can be connected directly to an exchange. Moreover, it has other things to offer to traders including advanced Technical Analysis tools. MetaTrader5 has more timeframes, graphical objects, and built-in indicators. See the comparison table below.

 

 

When it comes to desktop applications, the platforms look very similar indeed. But when comparing the programming languages and strategy testers,  this is where MQL5 has a clear advantage over MQL4 in terms of performance and functionality. The MQL5 language is multi-core, can be 20x times faster than MQL4, it is closer to object-oriented C++, supports asynchronous trading functions and has native SQL connections. In addition, it has a built-in Python module that allows you to use any external machine learning and statistics libraries. See the key advantages of MQL5 over MQL4  displayed below.

MQL5 advantages

 

Mobile applications is another area where a significant divergence between the platforms is noticeable. It looks as if MetaQuotes completely stopped developing the mobile application for MetaTrader 4 and fully focused on the new platform. As of the platform build 2505, MetaTrader 5 mobile version strongly outperforms in all aspects: navigation, functionality, user-friendliness, number of tools, indicators and features.

Here are the features that have been added to the mobile MetaTrader5 application :

  • Quick quote search
  • Quote statistics
  • Quotes, History and Trade screens swipe
  • Improved navigation

mt5-ios-preview1 mt5-ios-preview2

 

Finteria Markets offers MetaTrader5 due to its clear advantages over its predecessor and other trading platforms. The platform is well equipped for any type of Technical Analysis and Automated Trading. You can open a demo or a nano account to test the functionality.

Stay tuned for more manuals and videos on how to use MetaTrader5 more effectively.