Is the Forex MetaTrader 5 Just a Polished Version of the Forex MetaTrader 4?

The foreign exchange world is always changing. It’s literally changing, and changing rapidly at that – currencies can actually change value from time to time. That’s why traders have to keep track of their accounts – they never know if they’ve missed out on something good regarding the currency values they deal with.

After MetaTrader 4, traders now have something new to look forward to; they now have MetaTrader 5.

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Forex MetaTrader 5

Forex MetaTrader 5 is an entirely new trading software. It is a trading platform designed by the same company, MetaQuotes Corporation on June 1, 2010. It does not only deal with foreign exchange, but also on futures, stocks, CFD and options. There are unlimited chart numbers, with support for 21 timeframes and one minute history for financial symbols.

Other features include a multilingual user interface, and even provide an electronic mail service. There are technical analyses which include indicators, as well as analytical tools. Added features also include a built-in alerts system, and it does automated trading with technical indicators.

MT5 or MT4?

What is the difference between MetaTrader 4 and MetaTrader 5?

Other people may just view MetaTrader 5 as the successor of MetaTrader 4, yet they might not know that it is packed with several additional features.

Users say MT5 is easier to navigate because it has larger buttons, however MT4 lovers point out that theirs is better because MT5 does not allow hedging options. True enough, MT5 will not allow hedging, not unless a plug-in is installed. MT5 codes are not even backward compatible, which means it’s similar to starting from scratch; MT4’s indicators and settings won’t work in MT5.

Forex MetaTrader 5 won’t let itself be beat up, however. It boosts several features such as having the capability to trade stocks and with other financial markets aside from dealing with foreign exchange. MT5 even has 2 pending order types, which are the Sell Stop Limit, and the Buy Stop Limit. Another difference is that MT5 can help traders understand MetaQuotes Programming Language (MQL5) easier, as there are more structures, data types and classes.

MT4 still may be the platform used by a larger number of traders, however, seeing the features offered by MT5 will make traders think twice about getting this platform version. All it takes is a little studying of the software, and it will be a forex trading platform used by both amateur and foreign exchange investors alike.

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