MetaTrader 5 is one step ahead of MetaTrader 4, due to several notable reasons. Various new additions and features make it a preferred choice over MT4.
Have you recently ventured into the trading landscape, looking for an effective online platform for your trading needs? Intending to sign in the MT5 platform but are uncertain about what’s new in it that MT4 doesn’t have? No need to look anywhere else!
Step into this detailed blog post, shedding light on eight new features and additions of the MT5 trading platform. So, continue to read on…
- Extensive Asset Coverage
Primarily, MetaTrader 4 is a trading platform designed for Forex trading. Alternatively, MetaTrader 5 is specifically designed for traders, enabling them to trade a broader range of financial instruments. Some of the most considered financial instruments are stocks, futures, and options, alongside Forex.
- Enhanced Technical Analysis
MT5 platform facilitates more advanced charting tools and a wider range of timeframes (21, compared to 9 in MT4). Beyond that, it boasts more built-in technical indicators and graphical objects, enabling traders to conduct detail-oriented market analysis.
- Programming Language
MT4 trading platform uses MQL4. But the MT5 platform utilises MQL5. For multi-thread strategy testing, MQL5 is more powerful, object-oriented, and optimised. That’s what makes it an ideal platform to develop more complex algorithmic trading strategies.
- Order Types
MT4 comes with 4 types of pending orders. However, MT4 offers 6 pending order types. Two of which are Buy Stop Limit and Sell Stop Limit. This trading platform continues to captivate most traders, as it also supports partial order filling.
- User Interface
MT4 is well-known for being the most straightforward platform, featuring an intuitive interface. Its user-friendliness enables individuals who have recently entered the trading landscape to take advantage of it. Alternatively, MT5 provides a more sophisticated and customizable user interface, along with additional features and tools to ease your trading activities.
- Backtesting
Compared to MT4, MetaTrader 5 comes with a more advanced strategy tester with multi-threaded optimisation. Additionally, it allows traders to backtest multi-currency strategies across multiple currency pairs. Consequently, they will achieve more accurate and faster outcomes that exceed their expectations.
- Security
Security is a major concern in the trading realm. Both MT4 and MT5 platforms use encryption and secure login procedures. However, MT5 offers additional security features, including two-factor authentication (2FA). With such security measures, traders and their capital and investments will remain protected against cyber threats.
- Additional Features
MT5 features an economic calendar that helps traders conduct fundamental analysis and assess market depth. It also offers internal fund transfers between accounts within the same server. As a trader, you can leverage a top-notch strategy tester with multi-threaded optimisation capability to test multi-currency trading strategies. So, you will better determine which works best.
Final Verdict
All of which, when combined, make the MT5 platform the most sought-after choice for most traders. So, before signing in, check whether the platform has all these new features, keeping you on the right track throughout your trading journey.
