What is this MT4, MT5...is this marketing talk?

[Zolotilar]

Definitely, in order to trade and make a profit on a real account, you must decide on a broker and a platform, you can choose the one that he offers.

 

[Nicerchil]

See this completely depends on the trader and his comfort. Leave aside beginners; there are experienced traders I know who are still comfortable using the MT4 trading platform, even though MT5 on the other hand is a more advanced platform. Let me sum up the differences among these two for you:
· MT4 allows only hedging while MT5 allows both hedging and netting.
· With MT5 platform, you’ll get a better depth into the market for a better idea about the bids and prices across the market.
· There’s an economic calendar to update you about the latest macroeconomic news.
· Interactive charts come fully loaded in both. MT4 includes 9 timeframes and MT5 comes with 21.
· MT5 platform also includes multilingual Unicode and unlimited symbols.
· The MT4 platform, you can engage in Forex and CFDs, while with MT5, you can invest in stocks, bonds, and futures.
As far as a broker is concerned, I really don’t think you can use either of these 2 platforms without one. I for instance have used XTB, Plus500, Fxview and Swissquote and have done rather well.

Thanks for the details and it definitely seems MT5 is better. I wonder why MT4 is higher on demand than MT5?

 

[HobbyTrading]

I wonder why MT4 is higher on demand than MT5?

MT4 exists much longer than MT5 and many people were already used to using it. Software for MT4 (written in MQL4) cannot run on MT5. That software needs to be rewritten and many software developers don't want to invest time and effort to do so, as long as brokers continue to support MT4.

 

[Mirthsmith]

Thanks for the details and it definitely seems MT5 is better. I wonder why MT4 is higher on demand than MT5?

There are traders who’ve literally been trading since decades and they’re quite comfortable using MT4 primarily because of the ease of use. I would say, brokers find it tough to break the already established loyal client base of MT4.

 

[HappyTrading]

What according to you is the better option among these two? Also, I was wondering if I need a broker to use these platforms.

Yeah, there is a need for a broker. I prefer MT4, you can choose the platform according to your preference.

 

[traderjakelong]

I too prefer MT4 as it is quite convenient and fulfills my needs.

 

[Pegrinn]

You see, about what it is, you must acquire it at the stage of training.

 

[olivemckenzie]

MT4 and MT5 are trading platforms that traders use to trade different instruments like forex, stocks, indices, etc.

 

[mlawson71]

Pretty much all brokers offers those two platforms. They're ubiquitous.