MT4 or MT5, Which Platform Should You Choose?

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!

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: 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: 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: 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?

• If you already have an account at Exnees, the first step is to download MT4 for this android or for this iPhone/iPad first.
• then, open the Exness application on your cellphone and click enter, a new form will appear later. enter your email address and password to log in to your Exness account.
• After successfully logging in to your Personal Area. From My Account, click the account settings icon to display the options.
• Select Account information and a pop-up with the account information will appear. Here you will find your MT4 login number and server number.
• Now to enter the MT4 Platform, just prepare your forex account number, password, and server details. if you want to trade directly in your browser, click "Trade" -- "MT4 WebTerminal"
• You will see a new page like below. It shows your Login and Server, you just enter your password and click "Ok". So then you are ready to trade on MT4.

In my opinion, it's easy, and yes, these tips can also be used to enter the MT5 platform. So good luck ok.....

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...

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:

• Click New Order in the toolbar, and press F9 on your keyboard. In the Market Watch window, right-click the instrument you want to trade and click New Order. Double-click the trading instrument in the Market Watch window.
• the Symbol you wish to trade, set the Volume, and click Type to Pending Orders from the dropdown menu.
• Then 'Market Fill' or 'Pending Order'
  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".

@Montiel: Standard Cent Accounts are excluded from having demo accounts because they operate on a different scale compared to standard accounts. However, traders interested in opening a Standard Cent Account can still gain trading experience and build confidence through alternative options. They can open a demo account with a similar account type, such as a standard or micro account, to practice trading strategies and get familiar with the platform. Additionally, brokers often provide educational resources like tutorials, webinars, and educational materials to help traders improve their skills. By utilizing these alternatives and educational resources, traders can still gain valuable trading experience and enhance their abilities before transitioning to live trading with a Standard Cent Account.

If you're searching for a top-notch platform to trade cryptocurrencies, cTrader is a solid choice. With its sleek and user-friendly interface, it offers a seamless trading experience. But it's not just about aesthetics – cTrader comes packed with advanced features. Its depth of market functionality provides transparency by displaying available volumes at different price levels, helping you make informed trading decisions. The platform also offers a wide range of order types, giving you flexibility in executing trades. Additionally, cTrader provides robust charting capabilities and supports various technical indicators, enabling thorough analysis of cryptocurrency trends. With its combination of style, advanced features, and extensive cryptocurrency trading options, cTrader sets itself apart as a reliable and efficient platform for traders looking to dive into the exciting world of cryptocurrencies.

Read more: Is cTrader Better Than MT4? Here are 4 Things to Consider

Not only is this recognized by my international regulator, but Pepperstone also often receives awards in the international forex industry. This indicates that the security, platform, and trading services provided by this broker can compete with those offered by other brokers.

Pepperstone has won numerous awards in the industry, establishing its credentials as a secure broker. Several prestigious awards, including those from Investment Trends, Deloitte, and Forex Brokers, have been bestowed upon this broker. Some of the most recent awards include Best Forex Broker 2021 (Daytrading.com), Best Professional Customized Trading Conditions 2019/2020 (Professional Trader), Best Trading Performance Tool 2020 (Professional Trader), Best Global Forex ECN Broker Award 2019 (Global Forex Awards), and Best Forex Trading Support – Europe 2019 (Global Forex Awards).

Additionally, both novice and professional trading communities admire this Australian broker for its wide selection of trading platforms, including cTrader, MT4, and MT5, as well as its highly competitive trading conditions. As the highest-rated pure ECN broker, Pepperstone offers comfortable trading with relatively lower fees. If you're looking to pay only a small commission for tight spreads, you won't find a better option than Pepperstone. (Read more: Pepperstone offers Metatrader and cTrader)

Pepperstone also holds licenses from international regulators, including ASIC, FCA, and CMA. Furthermore, this broker segregates its clients' funds with tier 1 banks and offers numerous fee-free funding methods. Pepperstone clients also benefit from negative balance protection, ensuring that traders will never lose more money than they have in their trading accounts.

Moreover, these regulations ensure that Pepperstone separates its operating funds from client accounts and maintains adequate capital ratios to safeguard clients in the event of broker bankruptcy. With a long history of responsible conduct and compliance with both local and international regulations, I consider Pepperstone to be a safe broker for trading partners.

The ability to use the hedging strategy can vary between different trading platforms, including Metatrader 4 (MT4) and Metatrader 5 (MT5). The criteria for a trading platform to support hedging typically depends on the platform's features and the policies set by the broker. Here are some key points to consider:

• Broker Policy: The broker's policies and regulations play a significant role. Some brokers may allow hedging, while others may restrict or prohibit it. It's essential to check with the specific broker you are using to understand their stance on hedging.

• Platform Features: Both MT4 and MT5 support hedging, but the specific implementation may vary. Hedging is a built-in feature in both platforms, allowing traders to open multiple positions in the same instrument, including both buy and sell positions.

• Regulatory Environment: The regulatory environment in the trader's location can influence whether hedging is allowed. Different countries may have varying regulations regarding trading practices, and traders should be aware of these regulations.

• Account Type: Some brokers may offer different types of trading accounts, and the ability to hedge may be associated with a particular account type. Traders should check the terms and conditions of their chosen account.

Hope it can help!

The term "advanced tools" in the context of MT5 typically refers to a suite of sophisticated features and functionalities that go beyond the basic tools available in platforms like MT4. These tools are designed to provide experienced traders with enhanced capabilities and greater flexibility in executing their trading strategies.

Some examples of these advanced tools in MT5 include:

• Extended Set of Pending Orders: MT5 offers a more diverse range of pending orders, allowing traders to implement specific entry and exit strategies with greater precision. This flexibility in order types is particularly valuable for advanced trading strategies.

• Advanced Charting Features: MT5 provides advanced charting tools that offer a more comprehensive view of market trends and price movements. Traders can utilize a variety of chart types, timeframes, and technical indicators to conduct in-depth technical analysis.

• Additional Timeframes: MT5 introduces more timeframes compared to MT4, allowing traders to analyze market movements over different periods. This can be beneficial for those employing various trading strategies that require a broader time perspective.

• More Technical Indicators: MT5 comes with an expanded set of built-in technical indicators, offering traders a wider range of tools for analyzing market conditions and making informed decisions.

• Economic Calendar: MT5 includes an integrated economic calendar, providing traders with real-time information on economic events and announcements that may impact the financial markets. This feature is crucial for fundamental analysis.

The separation between MT4 and MT5 accounts means that you indeed need separate trading accounts for each platform. If you start trading on MT4 and later decide to switch to MT5, you would typically need to maintain separate account balances for both platforms.

The reason behind this separation lies in the technical and structural differences between MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT5 is an upgraded version of MT4, offering additional features such as more timeframes, more order types, and an expanded list of financial instruments. The two platforms are not fully compatible with each other in terms of coding and functionalities.

When deciding which platform is best for you, it depends on your trading preferences and the specific features each platform offers. To try both MT4 and MT5, you can open demo account both for MT4 account and MT5 account! IT is free so you don't need to worry about the double deposit at all!

Alright, when you're choosing between MT4 and MT5, it's super important to go with the one that matches how you trade best. Since you're still getting the hang of MT4 but are curious about all the cool stuff in MT5, you're probably wondering which platform fits your style.

Here's the deal: MT5's got some serious bells and whistles, making it a hot pick for seasoned traders with fancy strategies. Think day traders or folks who juggle lots of different orders at once. MT5's advanced tools and features, like all those pending order options and top-notch technical analysis tools, cater more to these kinds of traders.

So, if you're into complex strategies and have some experience under your belt, MT5 could be your go-to. But if you're keeping it simple or just starting out, MT4 might be more your speed. It's got all the basics without overwhelming you with too many fancy features.