Remains most popular and preferred
forex trading platform
for beginners due to its simplicity
and ease of use, and compatibility
with EA’s
Unique features, advanced users,
more products, further
developments, for more advanced
programmers
More time frames
MetaTrader 4 is specially designed to trade Forex while MetaTrader 5 is designed to trade a wider range of assets in addition to Forex, such as stocks, commodities, futures, and indices. However, some brokers offer trading of non-Forex instruments through MetaTrader 4.
DEFINITIONS
METATRADER4
METATRADER5
FIRST IN, FIRST OUT
NO DEALING DESK
STRAIGHT THROUGH
PROCESSING
DEPTH OF MARKET
MetaQuotes
Language 4
MetaQuotes
Language 5
CONTRACT FOR
DIFFERENCE
INTERFACE
Simple and easy to use designed for forex traders
Basic customisation for traders
MT5 is a more advanced developed trading
platform with additional trading features
and designed for trading
futures, commodities, stocks as well as Forex.
Similar interface to MT4,
however it comes with additional timeframes and services
M1 M5 M15 M30 H1 H4 D1 W1 MN
M1 M2 M3 M4 M5 M6 M10 M15
M20 M30 H1 H2 H3 H4 H6 D1 W1
MN
INTERFACE
MQL4 VS MQL5
MetaQuotes Language (MQL) is a programming language used exclusively with MetaTrader Software to create automated trading robots and financial market indicators. Programmers who write MQL scripts must have a strong grasp of object-oriented programming, MQL syntax, and the financial markets in which they plan to deploy MQL scripts.
The goal of writing MQL scripts is to automate the process of analyzing financial markets, primarily foreign currency exchange markets (Forex), and trading financial instruments based on that analysis.
The major difference between MQL4 and MQL5 is the level of the programming language platform. Language MQL4 (MetaQuotes Language 4) has been used for robots, scripts and indicators in MetaTrader 4. This language is significantly limited compared to many modern programming languages, as it is used for simple commands and calculations.
In MetaTrader 5, a language MQL5 has been used, which is new, more efficient and close to the well-known object-oriented C++. Developers used syntax, which made the program easy to use: a trader can write and adjust scripts, indicators and trading robots using MQL5 language in the special environment of MetaEditor, as the language provides almost unlimited possibilities.
TECHNICAL ANALYSIS & DATA
30 Built-in Indicators
2000+ Free custom indicators
700 paid indicators
Technical indicators
44 Analytical Objects
21 Timeframes
Unlimited
Number of charts
Depth of Market (DOM), bids and
offers financial securities at
varying prices – depending
on volume
Economic Calendar
TECHNICAL ANALYSIS & DATA
30 Built-in Indicators
2000+ Free custom indicators
700 paid indicators
Technical indicators
44 Analytical Objects
21 Timeframes
Unlimited
Number of charts
Depth of Market (DOM), bids and
offers financial securities at
varying prices – depending
on volume
Economic Calendar
COMPATIBILITY
MT4
MT5
Windows Vista /7/8
Iphone/Ipad
Android
OTHER DIFFERENCES
Order Execution types
Partial order filling policies
Pending order types
Order fill policy
Netting
Reports
Balance transaction types
Log file ZIP compression
Graphical objects
Economic calendar
Strategy tester
Email System
Embedded MQL5 community chat
Which one should you choose?
It's down to personal preference, if you are a beginner the simplicity of MT4 may be more suited, but if you are after advanced features and optimised range of products then we suggest MT5
Which one should you choose?
Risk Warning:
The trading products provided by Regain Capital include currency pairs,
precious metals, crude oil, etc., all can be considered to carry high risks. Your investment
can increase as well as decrease in value and ultimately you may lose some or all of your
deposits. Margin trading may not be suitable for everyone. Please confirm that you are fully
aware of the risks involved before trading. Please note: any information provided by Regain
Capital is not investing advice.
Top Wealth Trading Limited is registered under Canada’s Money Service Business and Topical Wealth International Limited, authorised and regulated by the Seychelles Financial Service Authority (FSA), are members of Top Wealth Group. Regain Capital is authorised by Top Wealth Group to operate under regulatory supervision in various geographical locations across the globe.
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