What are the Differences between MetaTrader 4 & MetaTrader 5 Forex Trading Platforms?

MetaTrader 4 vs MT5 Forex Trading Platforms Difference

MT4 & MetaTrader 5 platforms are electronic forex trading platforms used by traders to place forex trades online. However, MT4 platform is primarily used for retail forex trading while MT5 is used as a multi asset forex platform for trading stocks, stock indices, CFDs, commodities, equities in addition to forex instruments.

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

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

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

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

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

MT4 platform uses MetaQuotes Language 4 or MQL4 for coding forex automated EA, forex trading robots while MT5 platform uses MetaQuotes Language 5 or MQL5 for coding forex automated EA, forex robots. Forex Expert-Advisors which are coded using MQL4 Language aren't compatible with MQL5 Language meaning Meta-Quotes Language 4 or MQL4 EAs can not be used on Meta-Quotes Language 5 or MQL5 coding environment used by MetaTrader 5 software.

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

MT4 forex trading EAs cannot be used on MT5 and MT5 forex trading Expert Advisors can not be used on MetaTrader 4.

MT4 platform provides traders with four pending forex order types: buy stop, sell stop, buy limit & buy stop pending orders- while MT5 platform provides traders with six pending forex 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 forex orders to the already opened forex orders that are similar.

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

What are the Differences between MT4 and MT5 Forex Platforms? MT4 vs MT5 Platforms Differences - MT4 vs MT5 Forex Platforms Difference.