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.
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 4 | MetaTrader 5 | |
| ⏳Pending Order Types | Buy Stop, Sell Stop, Buy Limit, Sell Limit, Take Profit, Stop Loss | Buy Stop, Sell Stop, Buy Limit, Sell Limit, Take Profit, Stop Loss, Buy Stop Limit, Sell Stop Limit |
| 📊Indicators | 30 indicators | 38 indicators |
| 📆Economic Calendar | ❌ | ✔️ |
| 🕔Time frames | 9 timeframes and 3 chart types | 21 timeframes and 3 chart types |
| 📁Archived Order | Orders older than 14 days are archived | Orders are not archived |
| 💻Programming Language | MQL4 | MQL5 |
| 💡Account Types in Exness | Standard Cent, Standard, Pro, Raw Spread, and Zero | Standard, 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.
See Also:
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.
25 Comments
Brandon
Jan 4 2023
Kelvin Huang
Jan 4 2023
Marcel
Jan 4 2023
Kelvin Huang
Jan 4 2023
Marcel: I think it depends on what you are trading. Using MT5 is a must if you want to trade cryptocurrencies, but you can use MT4 or MT5 for forex, metals, and another trading, but as mentioned above MT5 timeframes are more complicated. Some traders want the complexity, some hate it. I'm also a trader who doesn't want complexity, so I choose MT4 over MT5. But in reality, these two platforms are not that different. Speed, the chart, and how to use, it all almost the same!
Brandon
Jan 4 2023
Kelvin Huang: Wow, so Exness has give their clients a freedom to choose between these two trading platform? Such advantage since at FBS I cant choose trading platform that I want, only can choose at demo account. I agree about the timeframe, it seems at MT5 I can choose many timeframe meanwhile MT4 is limited just like the article said. Thank you for the information!
Yolanda
Jan 30 2023
As a beginner, in my opinion the most suitable for trading at Exness is MT4, considering that the system embedded in the application is still relatively easy for all people to use, even for beginners.
Plus, traders with busy schedules can trade on the go using iOS and Android phones and tablets. Packed with all the essential elements of MetaTrader 4, including trade orders, interactive charts and popular analysis tools, you can control your account and trade with one click from your mobile. The iOS and Android mobile versions also allow you to receive text messages and chat with other traders.
although not as sophisticated as MT5, on MT4, you can enjoy the same CFD trading as the MT5 platform, namely a choice of more than 200 instruments, which include trading forex pairs, metals, cryptocurrencies, stocks, indices, and energies.
Dalton
Jan 31 2023
Yolanda: However, Cryptocurrency trading has become one of the most popular trades among investors in recent years, perhaps due to its high volatility and high risk. I think Cryptocurrency trading can provide big profits.
Exness also offers cryptocurrency trading. Some of the cryptocurrencies at Exness can be traded on the MetaTrader 4 and MetaTrader 5 platforms. However, most of the others are only available on the MetaTrader 5 platform, namely: XRPUSD, AAVEUSD, LINKUSD, IOSTUSD, DOGEUSD, COMPUSD, THETAUSD, CAKEUSD, MATICUSD, HTUSD, MANAUSD, HBARUSD, and 1INCHUSD.
So, MT5 is a really good platform and suitable for users of this instrument due to its technical capabilities and enhanced functionality that goes beyond trading with currencies.
Robert
Jan 30 2023
I'm confused about which platform to trade with because, in my opinion, the two platforms have their own charm. the one with advanced and simple interface features, and the MT5 with a wider ion of advanced tools, which makes it more suitable for experienced traders.
Even though I can't be considered a novice trader, the dilemma of choosing these two accounts still occurs. Apart from the same instruments offered, the number of accounts offered is also not much different. and for market execution, it's just as easy and instant, depending on the type of account.
So, is it possible to open an account by ing the platform at the same time (MT4 and MT5)? because it's hard for me to choose.
Karenna
Jan 31 2023
Robert: Actually, I was like that at first, which was difficult to choose which platform I should open. Both platforms have their own advantages and disadvantages. MetaTrader 5 is the advanced 5th generation trading platform from goliath trading software, MetaQuotes Software Corp. MetaTrader 4 is a new and improved version of MetaTrader 4 which comes with additional features and tools, such as new order types and customizable time frames.
However, If you open a MetaTrader 4 account, you will not be able to use MetaTrader 5 with your MT4 credentials and vice versa. If you want an account for both MT4 and MT5 you will need to open separate trading accounts for both.
So, in my opinion, in choosing which account is better for you, the trick is that you also have to pay attention to other things if you want to make profits in trading. don't just look at the advantages of each platform, but rather match it to your needs. okay...
Lalisa
Jan 31 2023
if I say, both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are just as good. MetaTrader 4 was released in 2005 and was specifically designed for trading forex, futures and CFDs. While MetaTrader 5 was released 5 years later, in 2010, with the development of features such as:
But even though it's like that, I think there are still many traders who still use this MT4 platform. One of the reasons is that MT4 is easy to use and adaptable to various types of robotic technical indicators created with the MQL4 programming language.
My friend said, he is one of the traders at Exness, this broker is known for fast and easy market execution, besides that the deposit and withdrawal of funds are quite fast compared to other accounts. Because of that I am very curious about this Exness and also I am interested in the features and services in the MT4 platform.
if I choose MT4 as trading platform in Exness, how can I login to this Meta Trader 4? do you think the way to enter is easy or difficult huh? because if it's difficult, it means that this broker is not good for trading.
Apollo
Jan 31 2023
Lalisa: So, if you want to open the MT4 platform at Exness, it looks complicated but it's really easy and simple... yes, if you're using Android, you have to install MT4 separately with the Exness application. I will explain in detail the steps, but before that, you have to register for trading at Exness, OK?
In my opinion, it's easy, and yes, these tips can also be used to enter the MT5 platform. So good luck ok.....
Backy J
Jan 31 2023
Apollo: Well, even though you have to install a separate MT4 account, yeah, according to this, it's almost the same as other brokers. and I have no problem because of that. I've actually been interested in trading at Exness for a long time, but it turns out that it was only this month that I joined Exness.
I have tried what you explained via PC, it's quite easy to open MT4 on an Exness account. because this is my first time using Exness I'm a bit confused, how to operate MT4 and start trading? do you have to use a desktop if you trade with MT4?
I'm still a bit confused, bro, please explain the part on how to start trading with MT4... thanks in advance...
Apollo
Jan 31 2023
Backy J: OK, bro, let me help explain again how to start trading with MT4 at Exness. To open a new order, you have three options:
Then click 'Sell by Market' or 'Buy by Market' to open a trade.
You can close the order by double-clicking on the order and clicking "Close Market" or by right-clicking the order and ing "Close Order".
Arran
Apr 11 2023
While MT4 and MT5 are both excellent trading platforms, Exness' internal platforms are easier to use for novice traders. However, the advantage of Exness offering third-party platforms such as MT4 and MT5 is that traders can bring their own customized version of the platform with them if they choose to migrate to another broker.
We found that, like most brokers, the Exness MT4 platform is a standard version with 23 graphical objects and 30 built-in indicators. Unlike Exness' web traders, algorithmic trading is available, and MT4 is fully customizable.
We found the platform interface to be outdated, but fully customizable. There are three chart types, including Line, Bar, and Candle charts, and you have access to a wide ion of indicators on several time frames.
Developed in 2010, MT5 is the latest version of its predecessor, MT4, and is available at Exness. We recommend using MT5 if you are looking for a trading platform that is more powerful and faster in terms of backtesting functionality for automated trading algorithms. Also, traders prefer MT5 for its in-depth view of the market, additional technical indicators (38 compared to 30 on MT4), and 22 analytical tools
Like many other brokers, Exness offers support for MT4 and MT5 applications, available on Android and iOS. It also offers its own internal application which allows you to manage your account, deposit and withdraw funds and trade in all Exness financial assets, but this is only available for MT5.
Oliver
Apr 12 2023
Actually, I'm still new to the world of trading, and yes, I rarely hear about brokers that provide trading instruments and platforms. You must have known FBS and OctaFx which always appear in several advertisements on social media. As for the Exness broker, I have honestly never heard of this broker.
And yes, I just found out in this article, and yes, what is being discussed here is related to the Social Features of trading. Actually, even after it was explained, I didn't really understand and actually just found out that there is also a broker called Exness. I'm too early to understand this. I'd better learn trading in real terms, so I can gain experience in trading. In my opinion, joining social trading as an investor is less profitable because you have to pay a commission to provide a strategy. I am interested in this broker but maybe prefer real and demo trading. Exness offers support for MT4, MT5, and its easy-to-use proprietary platform, Exness Terminal, available as a desktop and mobile app.
As already explained, this broker has only been established since 2008, but I can't say for sure whether this broker is good and safe. I ask friends for an explanation, is the Exness broker safe for my trading and funds? Is my personal data also safe here? If anyone knows, could you please explain...
Daniel
Apr 13 2023
Founded in Russia in 2008, the Exness Group is a relatively new Forex and CFD broker. This broker has grown rapidly since its inception and now has over 145,000 clients worldwide and is regulated by seven national authorities.
In 2012 Exness obtained a license from the Cyprus Securities and Exchange Commission (CySEC) and moved its headquarters to Cyprus. In 2018, Exness closed its retail businesses in the EU and UK in response to tougher restrictions on retail CFD brokers – although Exness has maintained business-to-business (B2B) services in both regions. Here are the regulators this broker met with.
Venico Capital Limited is authorized by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment license number SIBA/L/20/1133.
Taeyang
Apr 15 2023
Exness regularly receives industry awards and recently won Best Global Forex Customer Service 2019, Best Global Forex Trading Experience 2019, and Most Trusted Global Forex Broker 2019 at the Global Forex Awards.
Overall, I consider Exness a safe broker to trade with, albeit with a few caveats. A broker's withdrawal from the EU/UK market following stricter regulations is certainly a consideration, but the broker remains well-regulated in many areas.
This broker provides all clients with negative balance protection, which means traders cannot lose more than their initial deposit. Lastly, this broker is regularly audited by Deloitte, one of the most reputable audit firms in the world.
Additionally, Exness is a member of the Financial Commission, an international organization that resolves disputes in the financial services industry for the forex market. The Financial Commission ensures that traders and brokers resolve their disputes more quickly, efficiently, impartially and in a realistic manner while ensuring that all parties receive a fair and thorough answer to their concerns. The Committee also provides additional protection for traders using the Compensation Fund.
The Compensation Fund acts as an insurance policy for member clients. These funds are kept in segregated bank accounts and are used only if the member refuses to comply with the decisions of the Financial Commission. The Compensation Fund will only cover decisions made by the Financial Commission up to €20,000 per client.
Jesse
Apr 17 2023
Exness is a popular global broker with 9 different trading accounts and one of the lowest fees in the industry. Exness also allowed me to open a trading account with ZAR and trade 100 forex pairs, more than most other brokers. Regulated by the South African FSCA from 2021, but South Africans participate through companies in Seychelles. This means your money is held overseas and disputes with Exness are subject to South African law.
Exness offers support for MT4, MT5, and its own easy-to-use platform, Exness Terminal, available as a desktop and mobile app. In addition to technical and fundamental market analysis tools such as FXStreet News and Trading Central, Exness also hosts educational seminars and live webinars led by local experts.
Exness will be a tough choice for some South African traders. Despite the low fees and ZAR trading accounts, excellent trading tools, and wide variety of trading platforms, the lack of FSCA protection can be a problem.
Agnes
Apr 18 2023
Exness is a safe broker to trade with, albeit with some reservations. The pullback from the EU/UK market due to tighter regulations is a concern but regulated in some areas.
Exness is a decent all-around broker for most traders, from beginners to experienced. MT4, and MT5, own platform support, 24/7 customer support, cheap entry-level accounts, and good Pro accounts that offer good trading conditions. However, Exness offers traders a high level of leverage. This, coupled with a low minimum deposit, can increase the risk of account deletion. I hope my explanation helps guys.
Heimdall
Apr 19 2023
Exness offers support for MT4, and MT5, and its easy-to-use proprietary platform, Exness Terminal, is available as a desktop and mobile app. In addition to technical and fundamental market analysis tools, including FXStreet News and Trading Central, Exness hosts regional expert-led educational seminars and live webinars.
Bro, crypto leverage 1:200? This is a very tall man. Some brokers only offer 1:20 for crypto leverage. I am interested in the Exness terms and conditions. What is fast charging without requotes? And what is an agent? STP, Market Maker, or ECN Broker? And what is the MetaTrader platform in crypto trading? MetaTrader 4 or 5? After reading the comment section above, several people said crypto trading is possible with Metatrader 4. Thanks!
Mani
Apr 20 2023
You are right about leverage. Exness offers higher leverage than other brokers, which benefits crypto traders. We are talking about trading conditions at Exness, right? First of all, Exness is an STP and ECN broker, which of course allows fast execution with no requotes, and no lagging! In addition, as an ECN broker, you can see real-time market depth in fundamental markets. Next, let's discuss the Metatrader platform that supports MT4 and MT5. MT5 is basically designed for trading cryptocurrencies, so of course you will use Metatrader 5 as your trading platform!
Frikki
Apr 21 2023
Yeah, you can trade cryptocurrencies using MetaTrader 4, but it is very limited. Everything you need to know about MetaTrader, designed to trade Forex, CFDs, and commodities such as gold, silver, and oil. Therefore, in my opinion, Metatrader 4 cannot provide the best trading experience for trading cryptocurrencies.
Metatrader 5, on the other hand, is designed to trade all possible trading instruments, including crypto. It offers more time frames than Metatrader 4, making it the trading app of choice for crypto trading. So, as mentioned in the article, if you want more flexibility, choose Metatrader 5 for the best experience.
In addition, Forex works 24 hours and 5 working days. Cryptocurrency trading operates non-stop every day for 24 hours. That's great for me and I think traders who can't trade Forex on weekdays could consider crypto trading because even on weekends and Sundays, crypto trades can still be traded.
Aphrodite
Apr 23 2023
I've never tried real trading, but I really like brokers that offer copy trading platforms. Because we feel this platform is indispensable for all beginners to learn and trade profitably. At least you can get trading knowledge from experts on this platform.
It turns out that Exness also offers a platform similar to copy trading, but more beginner-friendly. It's only natural to want to know more about this social trading platform. If you want to start a social trading platform, you will usually need to open an account with Exness first. In my opinion, opening an account with Exness is no different from other brokers as it is very simple and smart. Usually, when you open an account there is a document screening, right? Do I need to verify my account if I want to join the social trading platform? Also, please explain: How do traders verify their documents?
Gavriil
Apr 24 2023
Ok buddy, I will help explain account verification at Exness. In my opinion, account verification when opening an account at all brokers is very important, to avoid identity fraud and get the full features of the platform offered by the broker.
Security of client funds is a top priority. They have multiple layers of security, two-factor authentication, strong account verification, and round-the-clock support to resolve any issues.
And yes, to use Social Trading, investors must verify all documents of Proof of Identity (POI), Proof of Residence (POR), and Economic Profile. The documents that must be uploaded to verify an account with Exness are the same as those of other brokers. That's all I know, if anyone has anything to add please feel free...
Gelsi
Apr 25 2023
Recently, Social Trading and Copy Trading have been heard more and more frequently, following in the footsteps of Mirror Trading which was earlier widespread. These two types of platforms for sharing trading ideas on forex, indices, etc. are increasingly being presented by various parties. the Exness platform that allows traders known as investors to copy active traders known as strategy providers.
And as you know, my social trading account is popular among both beginners and professional traders. The main goal is to make a profit on the trading platform. I need some documents.
Your Business Profile - This is a short survey that describes your business knowledge and financial background. Proof of Identity - Exness accepts government issued identification such as a passport, KTP, driver's license or other government issued identification.
Proof of address – Documentary proof: The residence/address must be the name of the account holder within the last 6 months and must include the merchant's full name, current residential address, issue date, and issuing authority.
This is a more complete explanation of the documents used for account verification.