Trade Bitcoin Trading

Key Distinctions Between the MetaTrader 4 and MT5 Platforms for Bitcoin Trading

MetaTrader 4 vs MetaTrader 5 Bitcoin Platforms Difference

MT4​‍​‌‍​‍‌​‍​‌‍​‍‌ and MetaTrader 5 platforms are electronic trading platforms that implement bitcoin operations. Bitcoin traders can use the MT4 and MetaTrader 5 platforms to open and place bitcoin trade positions online. In contrast, MT4 software is mainly utilized for retail bitcoin trading whereas MT5 acts as a multi-asset bitcoin software enabling one to trade not only stocks but also stock indices, CFDs, commodities, and equities besides instruments.

The MT4 program gives traders 9 different time frames for bitcoin charts, but the MT5 program gives traders 21 time frames.

MT4 software provides traders with 30 in built bitcoin indicators while MT5 software provides traders with 38 in built bitcoin indicators.

MT4 software furnishes traders with 31 drawing tools for charting bitcoin, whereas MT5 software equips them with 44 bitcoin charting instruments, including advanced additions like Elliott Wave drawing tools for bitcoin.

MT4 platform does not provide a bitcoin economic calendar to bitcoin traders while MT5 software provides traders with an economic calendar which alerts bitcoin traders when bitcoin news reports are about to be announced.

MetaTrader 4 platform does not provide depth of market DOM, to bitcoin traders while MT5 software provides depth of market DOM, to bitcoin traders which allows bitcoin traders to view where bitcoin bids and bitcoin offers are priced in the bitcoin market.

MT4 platform software uses Meta Quotes Language 4 or MQL4 for coding bitcoin automated EA, bitcoin robots while MT5 platform software uses Meta Quotes Language 5 or MQL5 for coding bitcoin automated EA, bitcoin bots. BTCUSD EAs that are programmed using MQL4 Language are not compatible with MQL5 Language meaning MetaQuotes Language 4 or MQL4 EAs can not be used on MetaQuotes Language 5 or MQL5 coding environment used by MT5 platform software.

MQL5 is simpler than MQL4 for coding. MQL4 needs more steps for each bitcoin trade task.

Note that MT4 Bitcoin Expert Advisors (EAs) are not compatible with MT5, and vice versa.

MT4 software provides traders with four pending bitcoin order types: buy stop, sell stop, buy limit and buy stop bitcoin pending orders- while MT5 software provides traders with six pending bitcoin order types: buy stop, sell stop, buy limit, buy stop, buy/sell stop & buy/sell limit bitcoin pending orders.

The MT4 platform offers hedging functionality to traders, while MT5 expands this by supporting both hedging and netting. Netting consolidates new Bitcoin orders with existing similar positions for streamlined management.

MetaTrader 5 software is faster than MT4 software. MT5 software is 64 bit multi threaded bitcoin platform while MT4 software is 32 bit single threaded btcusd platform.

What are the Differences between MetaTrader 4 and MT5 Bitcoin Platforms? - MT4 vs MT5 Bitcoin Platforms Differences - MT4 vs MetaTrader 5 Bitcoin Platforms Difference.

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