MT4 and MT5 trading platform known as MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms developed by MetaQuotes software. MT4 was first released in 2005 and is widely used by forex traders. MT5 was released in 2010 and is a newer version of the platform that includes additional features such as more timeframes and the ability to trade stocks and futures.
One of the key features of both MT4 and MT5 is their use of the expert advisor (EA) function, which allows traders to automate their trading strategies. EAs are scripts that can be programmed to execute trades based on certain conditions, such as a moving average crossover.
Another feature of both platforms is their use of indicators and charting tools. Both platforms offer a wide range of indicators and charting tools that can be used to analyze market trends and make trading decisions.
MT4 is widely considered to be the more popular platform due to its longer history and wider adoption among traders. It has a large user base and a wide range of third-party indicators and EAs available.
MT5, on the other hand, is considered to be more advanced and offers more features than MT4. It also has support for more markets including stocks and futures and also has better backtesting capabilities.
Both MT4 and MT5 can be used on multiple devices such as desktop, mobile, and web. They are available on Windows, Mac, iOS and Android platforms.
One important difference between the two platforms is that while MT4 is limited to using only four or five decimal places, MT5 has support for six or more decimal places. This is important for traders who use scalping strategies and rely on small price movements.
Both MT4 and MT5 trading platform are popular trading platforms that offer a wide range of features for traders, including automated trading, indicators, and charting tools. The main difference between the two platforms is the range of markets supported and the advanced features of the newer platform.