What are the Differences between MetaTrader 4 & MetaTrader 5 Softwares?

Meta Trader 4 vs Meta Trader 5 Platforms Difference

Meta Trader 4 & Meta Trader 5 platforms are electronic softwares used by traders to place trades online. However, MT4 platform is primarily used for retail trading while Meta Trader 5 is used as a multi asset xauusd trading software for trading stocks, stock indices, CFDs, commodities, equities in addition to xauusd.

Meta Trader 4 platform software provides traders with 9 chart time frames while Meta Trader 5 platform software provides traders with 21 chart time-frames.

Meta Trader 4 platform software provides traders with 30 in built technical indicators while Meta Trader 5 platform software provides traders with 38 in built technical indicators.

Meta Trader 4 platform software provides traders with 31 charts tools while Meta Trader 5 platform software provides traders with 44 chart tools - with additional tools such as Elliot wave drawing tools.

Meta Trader 4 software doesn't provide a economic calendar to traders while Meta Trader 5 platform software provides traders with an economic calendar which alerts traders when news data reports are about to be released.

Meta Trader 4 software doesn't provide depth of market DOM, to traders while Meta Trader 5 platform software provides depth of market DOM, to traders which allows traders to view where bids & offers are priced in the market.

Meta Trader 4 software uses MetaQuotes Language 4 or MQL4 for coding automated EA, robots while Meta Trader 5 software uses MetaQuotes Language 5 or MQL5 for coding automated EA, robots. Expert Advisors which are programmed 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 MT5 platform.

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

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

Meta Trader 4 platform software provides traders with four pending order types: buy stop, sell stop, buy limit & buy stop pending orders- while MT5 platform software provides traders with six pending order types: buy stop, sell stop, buy limit, buy stop, buy/sell stop & buy/sell limitpending orders.

Meta Trader 4 platform software provides traders with hedging while Meta Trader 5 platform software provides traders with hedging and netting. Netting is the combining of newly added orders to the already opened orders that are similar.

MT5 platform is faster than MT4 platform. Meta Trader 5 software is 64 bit multi threaded xauusd trading platform while MT4 platform is 32 bit single threaded xauusd trading platform.

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

Study More Lessons:

Trade Gold Trading

What are the Differences between MetaTrader 4 & MetaTrader 5 Softwares?

Meta Trader 4 vs Meta Trader 5 Platforms Difference