Advantages and Disadvantages of MetaTrader 5 - Page 6
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Thread: Advantages and Disadvantages of MetaTrader 5

  1. #1
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    Feb 2013
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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.


    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.

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  2. #51
    Join Date
    Nov 2015
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    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
    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 impo

    - - - Updated - - -

    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
    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.

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  3. #52
    Trader Doge's Avatar
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    Mar 2015
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    The main advantage of MetaTrader 4 over 5 is the simplified logic of trading functions - reading history or opening trades by code is way more simple to do, especially the first time you try. Other than that I don't think MT4 has any other advantage - about everything else is made better in MT5. It even looks better if you're using some customized theme for Windows.

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    Wow. Much Forex. So Monies. Very Opportunity.Many Trade. So Amazed. Wow.

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