What is the Difference between MT4 and MT5 Gold Trading Platforms?

MT4 vs MetaTrader 5 Gold Trading Platforms Difference

MetaTrader 4 and MT5 softwares are electronic gold trading platforms used by traders to place gold trades online. However, MT4 platform is primarily used for retail gold trading while MT5 is used as a multi asset gold trading software for trading stocks, stock indices, CFDs, commodities, equities in addition to gold.

MT4 platform provides traders with 9 gold chart timeframes while MT5 platform provides traders with 21 gold chart time frames.

MT4 platform provides traders with 30 in built gold technical indicators while MT5 platform provides traders with 38 in built gold technical indicators.

MT4 platform provides traders with 31 gold charts tools while MT5 platform provides traders with 44 gold chart tools - with additional tools such as Elliot wave drawing gold tools.

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

MT4 platform does not provide depth of market DOM, to gold traders while MT5 platform provides depth of market DOM, to gold traders which allows gold traders to view where gold bids and gold offers are priced in the gold market.

MT4 platform uses MetaQuotes Language 4 or MQL4 for coding gold automated EA, gold trading robots while MT5 platform uses MetaQuotes Language 5 or MQL5 for coding gold automated EA, gold trading bots. Gold trading EAs that are coded using MQL4 Language are not compatible with MQL5 Language meaning Meta-Quotes Language 4 or MQL4 Expert-Advisors can not be used on Meta-Quotes Language 5 or MQL5 coding environment used by MT5 software.

MQL5 coding language is easier to use as compared to MQL4 programming language which requires more coding functions to complete each gold trading operation when compared to MQL5.

MT4 gold trading EAs cannot be used on MT5 and MT5 gold EAs can't be used in MT4.

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

MT4 platform provides traders with hedging while MT5 platform provides traders with hedging and netting. Netting is combining of newly added gold orders to the already opened gold orders that are similar.

MT5 platform is faster than MT4 platform. MT5 platform is 64 bit multi threaded gold trading platform while MT4 platform is 32 bit single threaded gold trading platform.

What's the Difference between MT4 and MT5 Gold Platforms? MT4 vs MT5 Gold Platforms Differences - MT4 vs MT5 Gold Platforms Difference.