#Forex…What are MT4 and MT5? Do you Know the difference? When it comes to the best forex trading platform, a great number of traders may think of MT4 or MT5. We know both of them are developed by the same corporation, MetaQuotes Software Corp. and MT5 is the latest version of MT4. Trader might face difficulty when choosing from the two trading platforms. Therefore, in order to choose the most appropriate platform, traders need to figure out the difference between MT4 and MT5. What are MT4 and MT5? MT4 is a most widely used forex trading platform by traders. It is used by a great number of brokers and traders worldwide. It allows traders to trade in the financial markets such as forex, CFD and futures. Traders are able to use various resources to analyze the price movements in the financial markets, make trading decisions and make trades. MT5, as the latest version of MT4, is one of the most cutting-edge and helpful forex trading platforms that allow traders to trade forex conveniently. It is designed to arrange brokerage services in Forex, CFD, Futures as well as equity markets. Traders are able to trade in more than one financial market in one account, which is quite conveniently for them to manage their capital. What are the difference between MT4 and MT5? Since the release of MT4, it has been regarded as one of the most reliable and popular trading platforms used by traders. MT5, based on MT4, makes some updates and changes. It is also widely accepted by some traders. The following differences between MT4 and MT5 might help traders choose the most proper and suitable forex trading platform. 1. In MT4 forex trading platform, traders are able to manage two or more orders of the same currency pair separately. In MT5, this is eliminated; in other words, Mt5 traders can only keep one of the positions of the same currency pair that are bought in different time. For example, a trader opens two positions: 10:00am Long EUR/USD 2 lot and 13:00am Long EUR/USD 2 lots. Then the two positions will be seen on MT5 account as one position “Long EUR/USD 4 lots”. 2. One of a major difference between MT4 and MT5 is: Forex traders are able to download other forex indicators to MT4; while there are 38 internal indicators for traders to choose from in MT5 trading platform. 3. Different from MT4, hedging is not accessible in MT5 trading platform. Buying and selling the same currency pairs will result in zero position in forex trading by using MT5 trading platform. This is a major difference between MT4 and MT5 that traders need to notice when choosing platforms. 4. In MT5 trading platform, multiple accounts can be managed simultaneously; while in MT4, traders need to achieve this by downloading MAM, a helpful Forex trading tool that can help manage multiple accounts. 5. There are 4 zoom modes in MT5 forex trading platform; while MT4 platform supports continuous zooming. 6. The speed of MT5 forex trading platform is much faster than MT4, which is more convenient for the traders to use more time to analyze the Forex situation and make profits. 7. Another difference between MT4 and MT5 is: MT5 can be used to trade in different markets (Forex, options, futures and stocks, etc), while MT4 contains fewer products, for example, stock cannot be traded on MT4. THANKS BY Peethu Reddy Alaguraj
Posted on: Thu, 04 Jul 2013 13:00:32 +0000