Advantages and Disadvantages of MetaTrader 5 - Page 3
Page 3 of 3 FirstFirst 123
Results 21 to 28 of 28

Thread: Advantages and Disadvantages of MetaTrader 5

  1. #1
    Trader
    Join Date
    Feb 2013
    Posts
    6,057
    Promo (¢)
    1,920
    Thumbs Up
    Received: 120
    Given: 69

    Advantages and Disadvantages of MetaTrader 5

    Metatrader5, or familiarly called MT5, developed by Metaquotes company as a newest generation forex trading platform after Metatrader4 which is managed to become the most popular platform in the world. Now, the majority of forex traders seem to still prefer the MT4 than MT5, but it was not because MT5 worse than MT4.

    And so why?

    Trading conditions presented by both of them have striking differences, though its interface is similar. Therefore, forex traders who are comfortable using the MT4 be reluctant to move to MT5. However, many trader also admitted to falling in love with Metatrader5 after testing. Why? of course, any trading platform has its advantages and disadvantages. Similarly, the MT5 which offers various advantages that have not been given by his predecessor MT4.

    *

    Advantages of MT5
    1. More Time frame
    Metatrader4 only provide charts in nine timeframe, but MT5 can display 21 timeframe, the time frame range from M1, M2, M3, M5, M10, and so on until the annual time frame. Moreover, traders can open 100 chart simultaneously. Features for trading with tick charts is also available. This is obviously a very profitable trader, both scalpers who like lower time frame or swing trader.

    2. There is a Forex Calendar
    Do you like news trading? or just the opposite, rather avoid the market when important news is announced? Forex calendar has become a major requirement for the both trader (news trader or avoid news trader). This feature does not exist in the MT4, but MT5 provide this calendar as part of the platform, complete with measuring impact, forecast, and the previous data record. Thus, you no longer need to open browser and visit third party website only to see the latest news schedule.

    3. More Technical Indicators
    As we know, the indicator is a key component in any trading platform. Now, related to this, providing more MT5 indicator built-in rather than MT4 or generally any other trading platform. If peek menu of options "insert" in the tool bar MT5, then we will find more variety of variations Moving Averages, Oscillators, and custom indicators. In fact, if we want to 'shopping' indicators in MQL website, then of MT5 we can directly access it from the "Market", it is easy and practical.

    *

    Disadvantages MT5
    However, behind these advantages there area significant differences in the default setting MT5. MT5 than that caused it became like a double-edged sword. The programming language used to create the EA for MT4 and MT5 is very different. MT5 been accompanied by MQL5 Wizard to simplify traders who want to make their own EA. However, the programming language that used is different from MT4 means people must learn again make EA since its inception. In addition, many Expert Advisor that can be applied smoothly in MT4, will not be able to run on MT5.

    Then, one of the largest trader complaints about MT5 is on its default setting that applies the principle of FIFO (First In, First Out) and do not allow hedging. In fact, the default setting MT4 allow hedging and new FIFO imposed if the broker wants to implement it.

    The principle of 'First In, First Out' refers to the process of execution applied brokers the United States on the instructions of regulators, NFA. NFA prohibits hedging in any position. In the form of certain conditions in the open trading positions in a currency pair. The rule is if a trader opened several trading positions on the same currency pair, the first open position will be the position of the first well to be closed. These regulations clearly hamper implementation of hedging trading strategy, especially brokers who do not come from the US generally allow traders execute hedging. But if you are out in anywhere else of United States you are recommend to use MT4.

    Not allowed!

  2. #21
    Registered user
    Join Date
    Sep 2017
    Posts
    1
    Promo (¢)
    1,515
    Thumbs Up
    Received: 0
    Given: 0
    I thought it's better to trade with MT4 terminal than MT5 terminal, maybe it's because a habit, but I think MT4 more simple and friendly interface, even there are some limited features in MT4 terminal. For beginners just like me it's more easy to learn with MT4 terminals. And for slow internet connection MT5 terminal quite hard to connect with the server.

    Not allowed!

  3. #22
    Low Cost
    Join Date
    Aug 2013
    Posts
    7,267
    Promo (¢)
    -90
    Thumbs Up
    Received: 29
    Given: 19
    one of the disadvantages of mt5 i that it is slower than mt4 because it is more heavy and so it does not work well on the old computers, so it needs a new computers of good hardware to be able to work well and make the trading more smooth, but mt5 has good advantages also that makes it a good platform and help in good trading always.

    Not allowed!

  4. #23
    Registered user
    Join Date
    Oct 2017
    Posts
    341
    Promo (¢)
    0
    Thumbs Up
    Received: 1
    Given: 2
    Quote Originally Posted by musiliu View Post
    In my own view, metatrader 5 is a better platform than metatrader 4, metatrader 5 is very fast and can establish a good connection with the server, even when the network connect is poor. The network hardly breaks, but the disadvantage it is currently facing is that since it is a newer platform and a most traders still use the metatrader 4, there is no vast library or costume indicators or expert advisors like the metatrader 4
    Do not think so. Meta trader 4 is faster than meta trader 5. Metatrader 4 may be old but trust me still better than meta trader 5. Meta trader 5 has more time frame and chart but it is slow. It is not faster like meta trader 4 and yes meta trader 4 is easy to operate. In all way meta trader 4 is perfect trading software for all the traders..

    Not allowed!

  5. #24
    Registered user
    Join Date
    Aug 2013
    Posts
    132
    Promo (¢)
    1,216
    Thumbs Up
    Received: 2
    Given: 0
    I assume it is the coolest advantage the use of the metatrader five in foreign exchange. due to the fact the connection in foreign exchange trading is likewise give the higher effect too in trading. The meta dealer offer the higher with buying and selling server. however in any addition of the characteristic is much less advantage in preference to meta dealer four. We as dealer can't do the hedging buying and selling style in forex buying and selling. Meta trader use the whole open position of the lot by using overall using lot. So hedging isn't always allowed

    Not allowed!

  6. #25
    Trader
    Join Date
    Aug 2015
    Posts
    6,531
    Promo (¢)
    2,010
    Thumbs Up
    Received: 51
    Given: 20
    yes but now a days mt4 also have news tab, it have signal and other tabs as well, i am not using these things so not confirm its currently added features or old in mt4 but it is fulfulling all requirement, and on other thing you said it have additional time frame but it have totally same time frames, these are enough i think also

    Not allowed!

  7. #26
    Registered user
    Join Date
    Jun 2017
    Posts
    2,385
    Promo (¢)
    -30
    Thumbs Up
    Received: 6
    Given: 2
    No doubt that what have advantage must also have disadvantages but this disadvantages doesn't limit us from making money with this platform as long as we have what it take to work in the market we will be able to trade and make good money everyday with this platform, mt5 is good trading platform that work very well.

    Not allowed!

  8. #27
    Registered user
    Join Date
    Dec 2017
    Posts
    64
    Promo (¢)
    -538
    Thumbs Up
    Received: 0
    Given: 12
    everybody has its own opinion but my own opinion it is difficult to comapision betwen meta trader 4 and meta trader 5.because each platform has its own priority so it is hard to decide.meta trader 4 have a large number of user instead of meta trader 5.meta trader4 have altleast 28 forum.that is enough for the user to take or click on the best forum which they like most.meta trader 5 have least.

    Not allowed!

  9. #28
    Low Cost
    Join Date
    Aug 2017
    Posts
    277
    Promo (¢)
    0
    Thumbs Up
    Received: 1
    Given: 1
    meta trader 5 has good advantages and may have more options than the meta trader 4 and this may make it good in some sides and not in another sides, i tried to use it before but i found it slow on my computer and so i stopped practice with it, and continue trading with meta trader 4 and did not leave it, so the trader has both of the platform and so he can use the best one for him.

    Not allowed!

Page 3 of 3 FirstFirst 123

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •