Metatrader 4 (MT4)

METATRADER 5 (MT5)

MT5 — combines simple interface of its predecessor with a number of new features covering the needs of both technical and fundamental traders; a wide range of chart timeframes, indicators and graphical objects for more profound technical analysis.

MT5 was released in 2010, five years after the release of MT4 and at a time when MT4 was already exceptionally well known, and due to the number arrangement in the platform names, there's a common misunderstanding that Metatrader 5 was a modern progressed version of Metatrader 4, designed to do the same work way better. This is not really true at all, in spite of the fact that it may be a trading platform and backtesting machine just as MT4 is, and the graphical user interfacing look and feel similar. Any satisfactory Metatrader review ought to point this out.

Advanced one-click trading tools
CFD trading
Cryptocurrency exchanging
Integrated development environment for EAs
Stop Limit orders
Built-in economic calendar
Highly customisable interface

METATRADER 4 (MT4)

Metatrader 4 (MT4) provides robust technology and high security to enable traders to choose Forex or CFD positions without worrying about the stability of the platform. It offers instruments to follow price fluctuations, identify trend patterns through charts and graphs, and also deploy automated trading techniques to manage trades.

The MT4 platform offers easy-to-read, interactive charts that permit you to monitor and examine the markets in real-time. You’ll also have access to more than 30 technical pointers which can assist you identify market patterns and signals for entry and exit points.

Simplistic easy to explore the interface
The built-inmarket for Expert Advisors and Custom Indicators Interactive customisable charts
Cryptocurrency exchanging
CFD trading
Reliable Virtual Private Server service

MT4 vs MT5 - what's the difference?

Features	Description	MT5	MT4
Order Execution Types	Order Execution Types Number of supported types of order execution.	4	3
Partial Order Filling Policies	Partial Order Filling Policies Partial edit option where a trade that is now available with maximum volume is executed, not exceeding the volume requested in the order, and unfilled volume is cancelled.
Order Fill Policy	Order Fill Policy Additional order execution conditions	Fill or Kill Immediate or Cancel Return	Fill or Kill
Pending Order Types	Pending Order Types Types of pending orders requesting a broker to buy or to sell a financial security under pre-defined conditions in the future.	6	4
Netting	Netting Having one open position of a financial instrument only.
Hedging	Hedging Having multiple positions of a financial instrument, both in the same and opposite direction
Market Depth	Market Depth Bids and offers for a financial security at different prices depending on the volume
Technical Indicators	Technical Indicators Technical indicators are used to automatically detect patterns in the financial instrument price dynamics	38	30
Graphical Objects	Graphical Objects Analysis tools that help to identify financial instrument price trends, to detect cycles and support / resistance levels, to build channels and more	44	31
Timeframes	Timeframes Group quotes of financial instrument in time intervals.	21	9
Economic Calendar	Economic Calendar A fundamental analysis tool which features macroeconomic news from numerous countries that can affect financial instrument prices
Email System	Email System Built-in email service, where you can receive notifications from Alpari International straight to your platform.	Yes (with attachments)	Yes (without attachments)
Strategy Tester	Strategy Tester EA tester and optimization modes.	Multi-threaded + Multi-currency + Real ticks	Single thread
Embedded MQL5.community chat	Embedded MQL5.community chat Chat with other traders directly from the platform