MetaTrader 4 Vs MetaTrader 5

The Preface – Mt4/Mt5 plugins:

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular trading platforms used by forex traders worldwide. Even though both platforms are quite similar in the features and functions they provide, there are notable differences that traders must notice. In this blog, the author will present MT4 to MT5 and talk about their benefits, drawbacks, and the most striking aspects of each platform.

Understanding MT4 and MT5:

Forex traders and other market participants highly adopt MetaTrader 4 (MT4) and MetaTrader 5 (MT5) due to their feature-rich interface and ease of usability. They provide a number of features and tools that make trading, analysis, and automation easy.

MT4 is specifically designed for forex traders and has a strong feature set and a large user base.

MT5 is more flexible, providing more financial instruments and enhancing algorithmic trading capabilities.

When it comes to the transposition of the two platforms, MT4 vs. MT5, the decision is mostly made based on the personal tastes of the trader. Both systems have good features and functions for trading and analytical purposes.

Advantages of MT4:

Widely Used: MT4 is very popular and there are many traders and developers associated with it.
Established Dependability: MT4 has a proven history of dependability and stability.
Wide Array of MT4 Plugins: MT4 In addition has a great number of plugins and custom made indicators.

Advantages of MT5:

Additional Instruments: In addition to forex trading, the MT5 platform allows the use of equity, fixed income and exchange traded funds for marketing activities.
Advanced Functionalities: MT5 presents added benefits such as capability of hedging, administering depth of market and sophisticated charts and other graphical representations.
MQL5 Language: In MT5, the platform offers clients the MQL5 programming, which is better than the MQL4 programming offered in Metatrader 4.

Best MT4 Plugins:

MT4 Indicator Plugins: There exists a wide variety of MT4 indicators such as moving averages, oscillators, and trend indicators
MT4 Trading Experts: Expert advisors automate trading processes and generate and execute buy/sell orders in line with predetermined criteria.
MT4 Signals: Some of the plugins offer signals for trading based on charting techniques or fundamental factors.

Best MT5 Plugins:

MT5 Indicators Plugins: It is fair to say that MT5 has more indicators and options for customizing them than MT4.
MT5 Expert Advisors: MQL5 programming language allows creating MT5 EAs that are more complex and robust.
MT5 Algo Trading: MT5 is optimal for algorithmic trading since it includes sophisticated solutions for creating and improving trading strategies.

Choosing the Right Platform:

Different platforms adoring different lengths and capabilities will be better for different types and individual people. It is important to know for which audience the product is of great interest. For instance, if someone is primarily focused on currency exchanging and has the most superficial knowledge of technical analysis MT4 is more than enough. Still, there is a lack of many components integrated to MT4 that might be more important for a trader. For instance, MT5 automation tools that would allow to hedge a position, cross into another asset, etc, make MT5 more attractive.

How To Increase The Performance Of MetaTrader 4 And 5 – Word Of Advice:

Though MetaTrader 4 (MT4) and MetaTrader 5 (MT5) serve as great trading systems for many users, they may experience some issues with speed and performance at times. Below are some of the suggestions to help you upgrade the speed of your MT platform:

Optimize Hardware:

Enhance your PC: Make sure that your PC has the required CPU, RAM, and memory to meet the requirements of MetaTrader. 
Install solid-state drive (SSD): Compared to ordinary hard disks, solid state drives provide much faster speeds in accessing data. 
Close unneeded programs: Shut down any unneeded programs that may still be operating in order to conserve resources. 

Change Chart Settings:

Lower chart image quality: Reducing the image quality of the chart could help boost performance especially when many charts are being used at once. 
Restrict indicators: Employ indicators on your charts that are applicable only in order to prevent clogging the system. 
Turn off unneeded options: Switch off options that you do not require like alerts or sound alerts.

Optimize Expert Advisors (EAs):

Code refinement: It is important to create EAs which work fast and do not indulge in unnecessary calculations. 
Information overload: Minimize the volume of data processed by your EAs so as to enhance their effectiveness.  
Let’s consider asynchronous elements: For the EA not to freeze the main thread, asynchronous operations should be implemented.  

Network Optimization:

Reduce the delays: Less latency means better quality when it comes to the usage of the internet.   
Use a VPN: Calmer latency and stronger network connections are supplements to the use of VPN.     

Update Metatrader And Plugins:

Stay up to date: Meta Trader And all the add- ons that you utilize while engaging in trades should not be forgotten as they are often updated to improve them or even correct some mistakes present in them.   

Take Up a Looser Skin:

Reduce the graphics load: Benefits are drawn performance-wise while using junior machines when one switches to a lighter skin.

The Conclusion:

MT4 and MT5 are two strong trading platforms with many features and functionalities. The selection of the two platforms is a function of your needs and preferences. 

In other words, by evaluating the key differences and pros and cons of the platforms, one can choose which of the two is compatible with their trading style and objectives.