Many consider MT5 as the upgraded version of MT4. Do the improvements include how the platform operates and executes orders?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular trading platforms in the world. It's interesting to compare them based on their speed since MT5 is clearly more advanced in terms of pending order types, time frames, and indicators variation.
MT4 is an online trading platform that was established in 2005. It was developed by MetaQuotes and provides traders with the ability to trade forex, commodities, indices, stocks, and cryptocurrencies. This platform is free to use and is the most popular trading platform in the world. The interface is easy to use, which is why it is popular among new traders.
Meanwhile, MT5 is an online trading platform that allows users to trade different financial instruments like forex, cryptos, stocks, indices, and metals. This platform was developed by MetaQuotes which is the same company that developed MT4. It is important to note that the MT5 platform has much more technical features, which is why it is more popular among experienced traders.
Between MT5 and MT4, Which One is Faster?
There is no doubt that the MT5 platform is faster than the MT4 platform. There are a lot of reasons why this is the case. One of the main reasons is the difference in their code and overall backend. MT5 is built using a more updated and efficient programming code which is why its speed is faster than the MT4 platform. This code is the MQL5, whereas in MT4, it is MQL4. While both codes were developed by the same company, MQL5 is a more updated version. This code is easier to modify and is, therefore, also faster to use.
When you first think about the speed of the two platforms, you would think that the MT5 would be slower because it has a more complicated dashboard and significantly more trading tools and other resources. However, that is not the case. Despite being jam-packed with everything a professional trader would need, the MT5 platform is actually pretty fast. Developers knew they had to give it their all as they were making a platform for the most experienced industry traders.
It is important to note that the difference in speed is not very significant, which is why most traders don't even realize it. I've tried both the MT4 and MT5 platforms and I didn't even notice that there was even a difference in speed. Both platforms work very smoothly and as long as you have a good strategy in place, you should have no problem trading in either of them. This is why many traders still prefer the MT4 platform over the MT5 platform.
There is no doubt that the MT5 platform provides users with significantly more technical tools and a faster trading speed. However, traders still prefer the MT4 platform because it is easier to use and has a simple interface. Since the speed difference is barely noticeable unless you pay close attention, you should try out both platforms to see which one is best for you.