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  1. #1
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    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.

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    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.

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    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.

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  2. #41
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    well i appreciate your post but i think still mt4 is best because there is no need of more time frame and indicator . first a good and professional analysis can only be done on long time frame like h1 and h4 and d1 and weekly 1 which is available on mt4 how ever indicator can be install in mt4 but your design so mt4 is also best :)

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  3. #42
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    The long timeframes having something to do with professionalism is one of those myths in trading that people repeat without even thinking about it. The only thing longer timeframe trading gets you is your trading results are postponed so newbies get the illusion of winning for a bit longer. Much of today's actual professional trading is done through HFT software, which de facto operates in sub-second timeframes.
    We cant even realize the need of more timeframes until we trade for some time on such. MetaTrader 5 however is actually behind in that area, other platforms support arbitrary period timeframes (you can choose the number of minutes or hours), as well as second-based and tick-based. l20-100 tick charts are common in scalping.

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    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.
    you are right that mt4 is much reliable but because of low consistency we trader does not know any thing about mt5 . mt5 has more indicator and stretchy built in the terminal but trader uses mt4 as they know indicator about it but if broker promote mt5 i am sure they will use use mt5 instead of mt4 . but i personal use mt4 as i like it to :)

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  5. #44
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    MT4 is definitely not more reliable than MT5. In MT4 although you can put multiple data-centers they are linked consecutively, that means everything leads to one main server. If it gets overloaded or crashes the whole system goes down (IC Market a few hours ago being the latest example). In MT5 all servers work in parallel, traders will never notice if there is a problem in one of them.
    Also in MT5 you have async order send, meaning you can send multiple orders simultaneously. MT4 needs to wait for server response before sending another open position order.

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    i read it all and i really thanks to write an article on metatrade because i heared many rumors about meta trade and i dont know how can i use meta trade........i think the trades who dont know about meta trade should read this post it will be very helpful for me.... it has all keys of advantages

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  7. #46
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    thanks you this information in my opinion i am working with metatrader 5 since long i see that advantages of metatrader 5 is good and simple and better platform than others i have tested it many times and one of the best features of it is that its a new trading tool and its fastest in forex market.....

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  8. #47
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    When there is advantage there is likely to be disadvantage too, so am not surprised that there are disadvantage in Mt5 platform as well but this disadvantage could not hold us back from success, we can still achieve success with this terminal as long as we have a good trading experience and skills that we can use to trade the market perfectly well.

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  9. #48
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    The only "advantage" of MT4 is that it hasn't changed for the past few years and there is nothing new to learn so you might think you know everything about it. In MT5 new things are being added constantly, latest ones being the possibility to undock charts from main window and native support for dotnet dlls.
    The multi-thread nature, 64-bit structure and native OpenCL are the main advantages though - you can use as much RAM, CPU and GPU cores as your PC has. You can paint incredibly complex functions on the chart and not notice a lag as long as your PC can handle the math. This is not the case with MT4.

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  10. #49
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    MT5 is a good platform like mt4 and the trader can use iut for trading and making of money, the trader needs to read about mt5 before using it to know how too use it properly and how to succeed in the market with it by trading well with it and uses all or most of its features that lead to making of good profits in most cases.

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  11. #50
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    According to my own opinion, MetaTrader 5 is a better platform than MetaTrader 4, Metatrader 5 can quickly and establish a good connection with the server, even if there is a low network connection. The network rarely breaks, but the difficulties that are currently facing it are a new platform, and most of the traders still use MetaTrader 4, where there is no big libraries or expert consultants such as MetaTrader 4

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