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MT4 vs MT5 - which one is better for Forex trading?

It is safe to say that trading on the foreign exchange market has undergone some drastic changes over the last few decades. When looking at the history of Forex in its entirety, we only witnessed the birth of digital trading platforms in the '90s. For many people, terminal trading was an introduction to the foreign exchange market. Fast forward to today, there are numerous trading platforms offer numerous trading options. The age of computerization has led us to a point where 3/4 of all trades are executed by not traders, but specifically designed, automated trading algorithms.

Trading platforms allow traders to gather all the necessary information to execute profitable trades. MetaTrader4 (MT4) and MetaTrader5 (MT5) are extremely popular trading platforms created by MetaQuotes Software Corp. Both of these platforms are accessible for free and are constantly utilized by traders all around the world.

For beginner traders, choosing the right trading platform can be a very confusing process. MT4 is an older platform that proved to be stable and very reliable for 15 years. MT5 is a newer platform with many powerful features, and many traders label the platform as the future of Forex trading. If you want to learn more about trading on the foreign exchange market, or maybe you want to become a trader yourself, which software do you choose? MT4 or MT5: which one is better for Forex trading?

The mobility and comfort of using MT4 are hardly surpassed by other trading platforms. The software is accessible in three different formats - you can control and monitor your trades on a browser or install MT4 on your desktop and even mobile phone. MT4 offers many unique technologies that improve trading methods and analysis of the market. The biggest advantage of MT4 is the possibility of automated trading. This platform allows you to utilize Expert Advisors (EA), which follow an algorithm designed following your trading strategy. This is an extremely powerful tool, allowing more advanced traders to automate even the most complex trading algorithms. Even the new traders which may not utilize these powerful improvements will find all the required tools for efficient trading.

MT5 is another extremely powerful trading software, often regarded as the future of all retail trading. The main benefit of this upgraded platform is MQL5 - a programming language that allows you to create unique, powerful indicators that improve the accuracy and success of your trades. You no longer have to restrict yourself to already implemented analytical tools. The freedom offered by MT5 is often preferred and loved by more advanced traders, who love to maintain greater control and gather all the necessary information for successful trading. The simplicity of MQL5 makes the creation of EA a far simpler and more rewarding task. With MT5, trading robots can utilize many trading strategies simultaneously, while accessing extremely accurate analytical data.

It is reasonable to assume that MT5 is a better trading platform because it takes a lesser toll on your trading setup and gives a wider variety of tools to the trader. That being said, the consistent popularity of MT4 should not be overlooked. This platform is often a starting point for many traders thanks to its mobility and simplicity. If you want to run your trading system on a Virtual Private Server (VPS), both platforms are supported by the VPS Forex trader. MT5 has a lot more to offer, but the comfort of MT4 makes it a fierce competitor to its successor. Choosing one platform over the other boils down to personal preference.

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