The MT5 hate

I have used Mt5 since 2013 - and I never understood the reluctance towards it. For me, it is simply more advanced in all perspectives..
Why do so many people prefer Mt4? Is it just the MQL4 content, indicators and such?

Content ( indicators and brokers ). And because people dont like changes when they are comfortable with something. From that perspective humanity should still without discover the fire. Fortunately that people is always irrelevant in our history

Imagine this. You are a member of finance team in a company named ABCD.INC. Your department has nearly thousands of Excel spread sheets made using MS Excel v2010 for example. Now MS insists you should upgrade to Excel v2018. However, because these two versions are not compatible, you have to rewrite/update all the macros and style sheets for the thousands of old spread sheets. Do you really want to do this? Even worse, you have to do this all over again when Excel 2025 releases. It's just crazy thing..... Metaquote doesn't care anyway because you and I are not their clients. Brokers are their clients. They don't understand, and they are not interested in end user's needs.

The problem with MetaQuotes was they aimed for the moon with MT5 by trying to make it a multi-asset platform that conformed to US forex trading regulations. They also tried to be the next Apple-store by monetizing apps written in their own proprietary language. In order to make all that happen they had to make some much needed changes to the (MQL)anguage. I'll admit, I much prefer the new MQL5 to the old MQL4. Its focus on more useful high-level OOP constructs make writing complex code easier and also keeps your projects cleaner. The problem is we're in the extreme minority, and the majority of MQL users have never actually studied CS and wind up learning MQL4 as a first language from tutorials made before OOP in MQL was even a thing. They don't care to learn how to code the right-way, most likely because their focus is on trading and not programming. The other problem is MQL5 doesn't really have any good learning resources, as it's sort of a hybrid language, like the bastard child of C++ and Java. Herein lies the issue, who in the financial world (other than those of us who know MQL already) wants to commit the time to learn a proprietary language from barely readable documentation, especially when said language lacks so many fundamental things that other languages provide like garbage collection, exception handling, etc., etc.

IMO, the only way out of this hole is for MQ to expose an API along side of MQL. They're now beta testing an R API, however, they missed the boat once again because the language of choice for the rest of the financial world is Python, not R. I can only guess that they went with R instead of Python because R lacks the versatility of Python, and they'd less likely lose control over their shitty-app ecosystem, but that's just my opinion...

if mt5 has nothing new except upgrading some stuff in the core that dont seen or matter for traders it will not success for sure
so simple, if the tool do the job for you why the heck you will change it with another one do the same job without any other advantage,,, ??

ppl are not stupid, when something dont success its because its not a successful story thats all, ofc sometimes theres some special cases

its all about the supply and demands
when theres a lot of demands on mt5, everything will change, or u will lose ur business things u are saying are just a joke for some professionals that handle these things

always cheers

IMO it's all about profit. MQ not only makes money from broker licenses but also from their marketplace which includes a generous cut of Freelance services. Since retail traders are a turn 'em and burn 'em business model, the MT4 stragglers will either adopt or they won't and that won't matter because new traders get introduced to the platform (MT5) by a broker which gives them instant access to an app-store and freelance services for custom algos; all of which MQ gets a cut. MQ has also completely eliminated its service desk, and with the recent migration to .NET I think its safe to assume that the company's strategy is to scale-down its staff and coast on licencing and marketplace revenues. Again, just my opinion...

anything is possible

Primarily I've notice lack indicator compatability which forces you to rewrite the code/scripts and lack of broker support. I feel like the general market needs a modern interface with some ergonomic features aside from the legendary metatrader. But we could all guess why that hasn't happned yet.

I'm in the U.S. I have to use a U.S. broker.. which one is offering mt5?... none that I've found.

Hi 5astelija,

We connected via MQL5 markets as you completed some amazing coding work for me in April. I have been trying to contact you to complete some more projects via MQL, telegram and email and wondered if you could reach out to me to see if we can work together.

Luke