Advantages and Disadvantages of MetaTrader 5
Page 1 of 5 12345 LastLast
Results 1 to 10 of 50

Thread: Advantages and Disadvantages of MetaTrader 5

  1. #1
    Registered user
    Join Date
    Feb 2013
    Posts
    6,171
    Promo (¢)
    160
    Thumbs Up
    Received: 124
    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. #2
    Registered user musiliu's Avatar
    Join Date
    Jan 2017
    Posts
    2,119
    Promo (¢)
    0
    Thumbs Up
    Received: 8
    Given: 3
    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

    Not allowed!
    Always have realistic DREAMS!

  3. #3
    Registered user
    Join Date
    Mar 2017
    Location
    Trader
    Posts
    147
    Promo (¢)
    0
    Thumbs Up
    Received: 1
    Given: 64
    in my opinion i see that advantages of metatrader 5 is good and better platform than metatrader 4 i have tested it before on pc and one of the most important features that i like it have a new trading tool and its fastest in market execution but i see everyone trade only on metatrader 4

    Not allowed!

  4. #4
    Registered user
    Join Date
    Feb 2013
    Posts
    6,171
    Promo (¢)
    160
    Thumbs Up
    Received: 124
    Given: 69
    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
    I think it is the good benefit using the metatrader 5 in forex. Because the connection in forex trading is also give the better impact too in trading. The meta trader offer the better with trading server. But in any addition of the feature is less benefit rather than meta trader 4. We as trader can not do the hedging trading style in forex trading. Meta trader use the total open position of the lot by total using lot. So hedging is not allowed

    Not allowed!

  5. #5
    Registered user
    Join Date
    Feb 2013
    Posts
    6,171
    Promo (¢)
    160
    Thumbs Up
    Received: 124
    Given: 69
    Quote Originally Posted by john abraham 94 View Post
    in my opinion i see that advantages of metatrader 5 is good and better platform than metatrader 4 i have tested it before on pc and one of the most important features that i like it have a new trading tool and its fastest in market execution but i see everyone trade only on metatrader 4
    Everyone has its own comparison between meta trader 4 and meta trader 5. Because the robot expert advisor on meta trader 4 is more available than meta trader 5. And the meta trader 5 use the different programming language different with the meta trader 4 programming language. The expert advisor run smooth in meta trader 4 can not even run in meta trader 5. And several trading technique can not run well in meta trader 5. Meta trader 5 is not allowing trader to use hedging.

    Not allowed!

  6. #6
    Registered user
    Join Date
    Dec 2016
    Posts
    62
    Promo (¢)
    390
    Thumbs Up
    Received: 0
    Given: 14
    my own opinion the robot master counsel on meta trader 4 is more accessible than meta trader 5. What's more, the meta trader 5 utilize the diverse programming dialect distinctive with the meta trader 4 programming dialect. The master guide run smooth in meta trader 4 can not keep running in meta trader 5. Also, a few exchanging strategy can not run well in meta trader 5. Meta trader 5 is not permitting broker to utilize supporting.

    Not allowed!

  7. #7
    Registered user
    Join Date
    Feb 2013
    Posts
    6,171
    Promo (¢)
    160
    Thumbs Up
    Received: 124
    Given: 69
    Quote Originally Posted by graig View Post
    my own opinion the robot master counsel on meta trader 4 is more accessible than meta trader 5. What's more, the meta trader 5 utilize the diverse programming dialect distinctive with the meta trader 4 programming dialect. The master guide run smooth in meta trader 4 can not keep running in meta trader 5. Also, a few exchanging strategy can not run well in meta trader 5. Meta trader 5 is not permitting broker to utilize supporting.
    I also has the same opinion with you. Expert Advisor, Script, any custom indicator is very easy and very familiar with any meta trader 4. Actually meta trader use the different programming language. To switch one trading strategy to any trading strategy is smooth in meta trader 4. I recommend any novice trader to practice and learn any forex course education on meta trader 4 only. It is very easy for any newbie

    Not allowed!

  8. #8
    Registered user
    Join Date
    Mar 2017
    Posts
    4
    Promo (¢)
    1,515
    Thumbs Up
    Received: 0
    Given: 0
    [lang=ar]METATRADER IS the best platform for newbie i suggest it to the new people in forex and i still use it for 3years :D[/lang]

    Not allowed!

  9. #9
    Registered user musiliu's Avatar
    Join Date
    Jan 2017
    Posts
    2,119
    Promo (¢)
    0
    Thumbs Up
    Received: 8
    Given: 3
    Metatrader 5 platform is a complete platform for me, it is a multi asset platform and it offers fast connection to the network, also there are better feature that are not on the mt4 trading platform, it loads chart faster and even on the mobile version of the mt5, all chart on your favorite trading instrument will be loading at the same time do you don't have to wait for the chart to load when you change the pair on the chart

    Not allowed!

  10. #10
    Registered user
    Join Date
    May 2014
    Posts
    237
    Promo (¢)
    1,813
    Thumbs Up
    Received: 1
    Given: 0
    i have seen that many brokers have started promoting their mt5 platform more than mt4 because of the advance trading its providing the traders,i traded with it twice in my trading life but one thing that i find as a deal braker on the mt5 kind of platform is that you can cut open trades one by one

    Not allowed!

Page 1 of 5 12345 LastLast

Posting Permissions

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