Recently I've been getting some questions about the differences between trading platforms for Forex and CFD Metatrader 4 and Metatrader 5, so I decided to write this article where we summarize the main advantages of both systems so that you, the reader, decide which should choose according to their needs.
Currently Metatrader 4 is by far the most popular trading platform for retail traders operating in the Forex and Contracts for Difference. however increasingly brokers offer MetaTrader 5 or both aplicacoiones, so many wonder: What platform should I choose?
Let's start first by the youngest member of the family Metatrader:
Metatrader 5
Let's start with the new MT5 platform was launched in 2010. The main improvements in this release include the following:
- Six types of pending orders and two types of orders stop (MT4 only four types of pending orders)
- You can provide access to more markets (commodities, indices and CFDs) depending on the broker.
- Additional time frames price charts (11 minute chart types, 7 types of graphics schedules, daily charts, weekly charts and yearly graphs)
- Tab integrated economic calendar featuring, among other things, publication schedules, level of impact of the event, previous data and market consensus.
- Tab MQL integrated products for the market Forex Expert Advisors.
- Additional technical, analytical tools 22 and 46 objects Graphs.
- Evaluator improved strategies for Expert Advisors, Agent Manager for remote optimization.
-Ver lista de brokers con Metatrader 5
Metatrader 4
The old MT4 platform has simplicity as its main selling point, but also has a wide range of resources and tools trading and market analysis. Here are some of its advantages:
- Expert Advisors for Forex are designed by the MQL native language and faster for the compilation result.
- Allows almost all types of trading methods as a hedge (hedging), and LIFO, but there may be limitations depending on the broker and operator region.
- Occupies less memory space MT5 (MT4 Some say it requires a third of the RAM compared to MT5)
- Remains the most commonly used operators and retail brokers platform, which means that there is greater community support behind Metatrader 4.
-Ver lista de brokers con Metatrader 4
So which platform is better?
Well, that depends primarily on operator preference. In reality the differences between the two platforms are not so many as to say that with MT5 or MT4 trading experience will change radically or will be definitely worse or better. Some prefer the simple while others prefer complex platforms with multiple tools and indicators.
If you believe that "less is better" and prefers to stick to the essentials of trading in the Forex market, then you probably feel more comfortable using the old reliable MT4, which is certainly simpler. On the other hand, if you like flashy new features and a menu full of choices, then MT5 might have just what you need.
Compatibility MT4 and MT5 EA
A very important thing to keep in mind if you are using an EA for Metatrader 4 and is considering the change from one platform to another is encoded with MQL4 systems are not compatible with MQL5 and MT5 factor. This is not simply solved by converting custom indicators and functions (.ex4 files and .mq4), which means that it is necessary to rewrite the entire code in C + + if you want the custom indicators and functions are properly executed in MT5.
Because of this, there was some backlash against MT5 in the community of developers and users of Expert Advisors. MetaQuotes, the creators of these platforms, has actively tried to convince programmers to rewrite their compatible codes MT4 to be now compatible with MQL5, but most developers have not wanted to go through these hassles and have simply ignored MetaQuotes.After all, most brokers and traders still using MT4 and why fix what is not broken, right?
The following table shows the main features of MT4 and MT5 and allows to compare both platforms more directly:
Platform
| Metatrader 4 | Metatrader 5 |
|---|---|---|
| Execution modes | 3 | 4 |
| markets | Forex / CFDs / | Forex / CFDs / Futuros /
Options / Shares /
Obligations
|
| Symbols (markets) | 1024 | Unlimited |
| Trading on the stock market | No | And |
| Market Depth | No | And |
| Order Execution Policy | Fill or Kill | -Fill or Kill (Todo o nada)
-Immediate or Cancel
(All / Partial or Cancel)
-Return
(Give back)
|
| partial order execution | No | And |
| Types of pending orders | 4 | 6 |
| Built-in routing orders | No | And |
| Time frames (price charts) | 9 | 21 |
| Technical indicators incorporated | 30 | 38 |
| graphic objects | 31 | 44 |
| economic Calendar | No | And |
| Strategy Simulator | A single strand | Multihilo + Multidivisa + Ticks reales |
| Time information and sales volumes (bag) | No | And |
| Coverage | And | And |
| Chat incorporado de MQL5.Community | No | And |
| Types of operation balance | Balance sheet and income | Balance, income, correction, payment, bonus, commission, commission agent, interests |
| Server Architecture | monolithic | distributed |
| 64-bit version | No | And |
| Account Groups | 512 | Unlimited |
| Symbol Sets | 32 | Unlimited |
| Reports | only boxes | Graphics (HTML5)
+ boxes
|
| If (you can attach files) | If (you can attach files) | |
| Transfer of funds between accounts | And | AND |
| Export SQL database | Limited (MySQL) | Incorporado (MySQL, MSSQL, Oracle) |
| Manager API | C++ | C++, ASP.Net, PHP |
| Gateway API | No | And |
| API de reportes | And | AND |