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Differences Between MetaTrader 4 and MetaTrader 5

2 years 1 month ago #35 by reshmika
  1. MT4: Installation is simple, and straightforward.
    METATRADER 5 : Installation is not as simple when compared to MT4.
  2. There are nine (9) timeframes in MetaTrader 4 . There are limitations to the number of charts that can be opened at the same time.
    METATRADER 5: There are 21 timeframes ranging from 1 minute to 1 month, and unlimited number of charts. One hundred charts can be opened at the same time without limitations.
  3. MT4: Forex Economic Calendar is not included in the news tab.
    METATRADER 5: The platform has an inbuilt Forex economic calendar tab with features like news event, schedule, impact, forecast, earlier events, e.t.c.
  4. MT4: The market utility tab is not integrated into the platform. You have to visit MQL4.com in order to buy any of its product in their market place.
    METATRADER 5: The market utility tab is built inside the platform. You can directly buy Forex products through the market tab.
  5. MT4: There are 30 inbuilt indicators pre-installed on MT4 platform.
    METATRADER 5: There are 38 inbuilt indicators pre-installed on METATRADER 5 platform. There are 22 analytical objects, and 46 graphical objects added to the platform.

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2 years 1 month ago #36 by adminbtyas
Most Forex traders use MT4 in trading the Forex despite the improved features in METATRADER 5.
  1. Expert advisors designed with MQL programming language cannot work on METATRADER 5. They cannot also be transferred to METATRADER 5. The only way out is to rewrite the codes in C++.
  2. Hedging, and closing of orders irrespective of their positions is not allowed in METATRADER 5 platform. The platform automatically implements NFA rules
These two reasons are the main discouraging facts of METATRADER 5. This is the reason most Forex traders still prefer to trade the Forex with
MT4 rather than trading with METATRADER 5.

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