Are you a beginner in trading? Are you using meta trader 4 for the first time? If yes, then you might also be knowing about meta trader 5. But what is the difference between meta trader 4 and meta trader 5? Any guesses? Well, below given are a few points that can differentiate the two.
- As you know installation of this software’s is the initial stage of trading now days. So, if we compare installation of metatrader 4 and 5, then installation of MT4 is quite easy, simple as well as straight forward. But in MT5 while opening the account for the installation, Metaquote is a default.
- Charts and time-frames are what that can best differentiate the two. In MT4, there are total nine frames and in the same time you cannot open a large number of charts. But in MT5, there are 21 frames and unlimited number of charts. Unlike MT4, there are no limitations in opening of the chart. You can open hundreds of charts on a single time.
- MT5 comprises of an inbuilt forex economic calendar that comprises of properties such as date, time, news event and many more. But in MT4 this system is absent.
- There is a presence of a market utility tab inside MT5, by which you can purchase forex products easily, but MT4 lacks this system and to buy this you have visit mql4.com.
- MT4 comprises of 30 indicators that are inbuilt, but in Metatrader, there are 38 indicators that are inbuilt. Apart from this, it comprises of 22 analytical objects and 46 graphical objects.
- Only two market orders and four pending orders are included in MT4, but in MT5, there are more orders i.e. 2 market order, 6 pending orders and 2 stop order.
- In MT4, the main things that are utilized are the code editor and the strategy tester, which are used for advisor designing. MQL Programming language is used. Expert advisor that is designed to be used in MT4 will not work in MT5. It is because the codes cannot be transferred from mt4 to mt5. Similarly in MT5, there are a large number of utilities available for designing expert advisor. These are designed with C++ programming language.
- In comparison to MT5, in MT4, it is easy to navigate the interface. There are few features in MT4 that includes click trading, drag and drop.etc. MT5 interface is a bit different from the interface of MT4. There is a presence of a search box in MT5.
Thus, these are the point that shows the difference between MT4 AND MT5. And MT5 has more features than MT4, but most of the forex traders usually opt for MT4 rather than MT5.
Would you like to buy these software’s for trading? If yes, then contact iExpertAdvisor™. This is a reputed company that deals with MT4 Plug-in like Candle Stick, Profit Exits, Power Grid, Trend line, Profit Manager, etc at an affordable price. Even it also deals with Meta trader 4 expert advisor builders.