Difference between MT4 and MT5 | Forex Factory

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Difference between MT4 and MT5

  • #1
  • First Post: Feb 10, 2017 6:53pm Feb 10, 2017 6:53pm
I am MT4 user and wanted to understand the benefits of using MT5.
Anyone who used MT4 before and now using MT5? I am interested in understanding why did you switch? What limitations you had with MT4? Are you happy with MT5? What kind of challenges or issues you faced in MT5?
  • #2
  • Feb 10, 2017 7:30pm Feb 10, 2017 7:30pm
Quoting yalgaar
I am MT4 user and wanted to understand the benefits of using MT5. Anyone who used MT4 before and now using MT5? I am interested in understanding why did you switch? What limitations you had with MT4? Are you happy with MT5? What kind of challenges or issues you faced in MT5?
I have not used MT5, but looked into it, at reviews etc. The general consensus seems that Mt4 still slightly ahead, mainly due to the number of EA's available for MT4. MT5 is basically MT4 with a few extra tools. And it backtests a lot faster than Mt4.
  • #3
  • Feb 10, 2017 8:25pm Feb 10, 2017 8:25pm
Quoting yalgaar
I am MT4 user and wanted to understand the benefits of using MT5. Anyone who used MT4 before and now using MT5? I am interested in understanding why did you switch? What limitations you had with MT4? Are you happy with MT5? What kind of challenges or issues you faced in MT5?
Hi,

This little blog should help you:
http://fxtradecity.blogspot.com/2013...4-and-mt5.html
  • #4
  • Feb 10, 2017 10:34pm Feb 10, 2017 10:34pm
Quoting Mr Breakout
{quote} Hi, This little blog should help you: http://fxtradecity.blogspot.com/2013...4-and-mt5.html
Thanks for that. The clearest comparison I have seen.
Forget MT5. With it you can't hedge, and it forces FIFO (first in first out = you can only close the trade you first put on, not any after that first.)
  • #5
  • Feb 10, 2017 11:18pm Feb 10, 2017 11:18pm
Quoting EventHorizon
{quote} Thanks for that. The clearest comparison I have seen
You are quite welcome, happy coding/trading.
  • #6
  • Feb 11, 2017 10:55am Feb 11, 2017 10:55am
Quoting EventHorizon
Forget MT5. With it you can't hedge
Not true. The only valid source of information is metaquote's site, keep in mind.
Return To Disorder
  • #7
  • Last Post: Feb 11, 2017 7:14pm Feb 11, 2017 7:14pm
Quoting rockit
{quote} Not true. The only valid source of information is metaquote's site, keep in mind.
Thanks,
What about FIFO? Do you know if that is enforced? Thanks in advance.
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