MT4 and MT5 are two of the most popular trading platforms in the industry, but which one is better if you trade with Exness?

When registering in a broker, one of the first choices that we have to make is deciding which trading platform to use. An ideal trading platform typically has features like analytical tools, fast trade execution, etc. Each broker offers different choices of trading platforms, so you'll need to find out what they offer first.

MetaTrader 4 Vs MetaTrader 5

At Exness, there are two trading platforms that you can choose: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). While both options are developed by the same company, the two are actually quite different and have their own pros and cons. Learn which one is the best for you in this guide.

 

About MetaTrader 4

MetaTrader 4 was released in 2005 and became one of the most popular trading platforms in the world ever since, thanks to its ease of use and high flexibility. It's often regarded as the industry standard due to its popularity. This is also why MT4 is available in almost all well-known brokers, either directly or through an in-house bridge to the platform.

MT4 gives all kinds of traders an opportunity to start trading quickly, regardless of their trading style and level of expertise. The platform is very simple and user-friendly, yet it offers a bunch of trading features to help traders reach their investing goals. This includes charts, expert advisors, trading signals, and trading indicators. In addition, there are financial news updates and alert tools to ensure that traders always stay up-to-date with the market.

 

About MetaTrader 5

MetaTrader 5 was released in 2010 and quickly became a powerful trading platform in the industry, following a similar path to its predecessor. However, there is a common misconception that MT5 is just an improved version of MT4. The truth is that MT5 is also designed to do some things that MT4 cannot. The platform focuses more on technical capabilities and upgraded functionalities that go beyond trading with currencies, but also trading with almost all kinds of instruments including futures, stocks, and more.

MT5 basically offers more advanced features compared to MT4, ranging from better tools to more technical indicators and pending order types to choose from. Therefore, it allows traders to explore more stuff and diversify their portfolios with various advanced trading techniques. Exness offers both of these platforms.

 

MetaTrader 4 Vs MetaTrader 5

Before you make a choice, it's important to know the characteristics of each option first. To begin with, let's talk about the similarities between MT4 and MT5. The two platforms do share some notable features in Exness, such as:

  • Choices of trading instruments, including forex pairs, metals, cryptocurrencies, indices, energies, and stocks
  • Unlimited leverage
  • Hedging system available
  • Demo accounts available (except for Standard Cent Accounts)
  • Instant and market execution
  • EAs, scripts, and indicators
  • Available for Windows, macOS, and Linux

Meanwhile, the two platforms also have several main differences as shown below.

 MetaTrader 4MetaTrader 5
⏳Pending Order TypesBuy Stop, Sell Stop, Buy Limit, Sell Limit, Take Profit, Stop LossBuy Stop, Sell Stop, Buy Limit, Sell Limit, Take Profit, Stop Loss, Buy Stop Limit, Sell Stop Limit
📊Indicators30 indicators38 indicators
📆Economic Calendar✔️
🕔Time frames9 timeframes and 3 chart types21 timeframes and 3 chart types
📁Archived OrderOrders older than 14 days are archivedOrders are not archived
💻Programming LanguageMQL4MQL5
💡Account Types in Exness
Standard Cent, Standard, Pro, Raw Spread, and ZeroStandard, Pro, Raw Spread, and Zero

 

Which One Should You Choose?

We can conclude that MT4 and MT5 essentially serve different purposes, so it's hard to say which platform is better than the other. MT4 remains an unmatched platform for forex and CFD traders, whereas MT5 is aimed at different markets, such as stocks, commodities, and futures. The user-friendly interface of MT4 makes the platform accessible for any trader, including those with little to no experience in trading. Meanwhile, MT5 offers a wider option of advanced tools, which makes it more suitable for experienced traders.

At the end of the day, you need to choose the one that suits your trading style the most. Just remember that once you open an MT4 account in Exness, you won't be able to use MT5 with your MT4 credentials, and vice versa. So, if you want to execute trades with both MT4 and MT5, you would have to open separate trading accounts for each platform.

 


Exness is a forex and CFD brokerage that serves clients to trade across multiple markets with the most stable and reliable pricing in the industry. Their features include spreads as low as 0 pips and maximum leverage of 1:unlimited.