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MetaTrader 4 and MetaTrader 5 platforms - Comparison of functions and possibilities

MetaTrader 4 and MetaTrader 5 platforms - Comparison of functions and possibilities

created Paweł MosionekJanuary 7 2020

The most popular platform Forex MetaTrader 4 will certainly be replaced by its younger brother - MetaTrader 5 in the undefined future. More and more brokers are expanding the range of platforms, offering their clients both versions of the MetaQuotes application to enable them to make their own choice. The differences between the two versions are not drastic, but often these details play a decisive role.

Read: Over 170 brokers offer trading on MT5

In the table below, we have prepared for you a summary of the most important MT4 and MT5 functionalities.

Tool MetaTrader 4 MetaTrader 5
interface transparent and readable,
a wide range of personalization options
very similar to MT4,
refreshed design
Platform versions stationary, web, mobile stationary, web, mobile
Max. number of active charts 40 100
Available TF M1, M5, M15, M30, H1, H4, D1, W1, MN M1 M2 M3 M4 M5
H1, H2, H3, H4, H6, H8, H12 D1, W1, MN
Available indicators 30 + EA and scripts 38 + EA and scripts
Available objects 33 46
Macroeconomic calendar NEVER YES
Strategy tester  the ability to perform the test only on
1 instrument
the ability to perform computations distributed in the cloud
tests performed on many instruments at the same time
option to add a delay parameter to the order
Hedging Allowed * Allowed (* depending on the broker)
A programming language MQL4 MQL5
Supported OS for the Desktop version Windows, Linux, MacOS Windows
Estimated number of brokers approx. 400 approx. 180

Soon, on the website, a comprehensive review of the MetaTrader 5 platform

Brokers offering MetaTrader 5

So far, the MT5 platform has been joined by around 180 brokers (mainly from Asian countries and Australia), but this list is growing very fast. Below are the most popular companies that allow trading with the use of MetaTrader 5:

It is expected that this list will be extended very quickly and in the perspective of 1-2, the older version of MT4 will be completely replaced by MT5 (MetaQuotes stopped supporting MT4 for older Windows systems last year).

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.