What Is The Difference Between Metatrader 4 and Metatrader 5 ?
Although both software are very popular among Forex traders, there are differences between the features that Metatrader 4 and Metatrader 5 offer to users. Experts say that since Metatrader 5 includes many new features, it will be advantageous to switch to it.
What is Metatrader 4 (MT4) ?
Metatrader 4 (MT4) is a cloud based all-in-one trading platform which allows its users to trade in financial markets. Although Metatrader is a popular software along Forex traders, it can be used to trade indices, cryptocurrencies, commodities and many other CFD trading options in Forex market.
Metatrader 4 is a free to download trading software. After installing the program on your computer or mobile phone, you can connect from anywhere and start trading on Forex market. Metatrader 4, which is also known for its user-friendly interface and ease of operation, is also a secure software.
Metatrader 5 (MT5) is the latest version of the Metatrader software, it has been updated with new and smart features for Forex trading. The Metatrader 5 trading platform was launched in 2010 by Metaquotes Software Corporation, which also developed Metatrader 4.
Metatrader 5 (MT5) trading platform is legit, with its trusted data encryption feature. But the key point to consider is which broker you should use with Metatrader 5. While the platform does everything it is supposed to do, the broker may not consider your best interests. ALB, as a leading online trading provider, always aims the complacence of its customers.
What are the advantages of Metatrader 5 ?
First of all, Metatrader 5’s improved order execution speed offers an important advantage for Forex traders. Instead of closing all of the positions one by one with a cross, the investor can close its positions at the market price with just one click. In addition to that, Metatrader 5 has 2 new pending order types according to different Forex market scenarios which are Buy Stop Limit and Sell Stop Limit.
Furthermore, the Market Depth screen of Metatrader 5 allows traders to quickly manage their stop levels and pending open position orders. You can place numerous pending orders of different volumes at different price levels. You can also follow day-to-day important economic data and market expectations on the newly added calendar.
Metatrader 5 offers wide range of indicators to the traders who use technical analysis tools to build trading strategies on the Forex market. Also, traders can manually add financial instruments on Metatrader 5. Moreover, Metatrader 5 offers important advantages to Forex investors with its expanding market monitoring screen and the opportunity to follow the profit-loss status of the transactions on a percentage basis.
What Is The Difference Between Metatrader 4 and Metatrader 5 ?
Due to all these new features which are described above in detail, Metatrader 5 has significant advantages than Metatrader 4 as a trading platform. Improvements like market depth screen, order execution speed will benefit traders while trading in Forex market. As ALB, we are offering our investors a more advanced trading platform in terms of technology and performance by switching to Metatrader 5.
