If you’re just starting your trading journey, choosing the right platform is key to your success. You’ve probably heard a lot about MetaTrader 4 (MT4)—it’s been around for years and has a solid reputation. But if you’re looking for a platform that’s designed with modern traders in mind, MetaTrader 5 (MT5) is the way to go.
One of the key advantages of MT5 is the increased number of time frames and order types it offers. With access to 21 time frames and additional order types like the buy-stop limit, MT5 provides more flexibility and precision when executing trades and managing risks. These tools allow traders to analyse the market in greater detail, making it easier to spot trends and take advantage of opportunities.
MT5 takes trading strategies to the next level with its improved back-testing capabilities. This means you can test your strategies using historical data with greater accuracy, giving you a better understanding of how they might perform in real-world conditions. Additionally, MT5 offers more built-in technical indicators and graphical objects, helping you make data-driven decisions with ease.
On the flip side, you can manually apply graphical objects such as Fibonacci tools. Plus, the MT5 platform lets you add your own custom tools, giving you even more flexibility.
Still struggling to make sense of technical analysis? Read our quick guide to mastering technical analysis
MT5 offers an improved, more user-friendly interface compared to its predecessor. With a sleeker layout and enhanced charting tools, it’s easier to analyse market trends and enter trades efficiently.
One thing that traders love about MT4 is the huge variety of third-party add-ons. Want custom indicators or automated trading systems? MT4 has them.
Here’s where MT5 really excels: many of those tools are already built into the platform.
With MT5, you won’t need to search for plugins; everything you require is conveniently located in one place, simplifying the experience for new users. While MT4 is still well-regarded for its extensive collection of custom indicators and expert advisors (EAs), many of these features are now also offered on the newer MT5 platform. Additionally, developers are increasingly dedicated to creating new tools specifically for MT5.
The MT5 platform supports partial order fills, meaning you can get your orders filled even if the entire volume isn’t available at the moment. Additionally, MT5’s more stable server infrastructure ensures smoother and more reliable trading, minimising downtime or interruptions.
As you grow as a trader, you’ll likely want to increase the number of positions and trade volumes. MT5 makes this possible by allowing traders to hold more positions and higher volumes than MT4.
Additionally, MT5 supports trading in value stocks and other stock offerings, giving traders access to a broader range of financial markets beyond just forex. You can trade commodities, stocks, indices, and cryptocurrencies all in one platform. This gives you more ways to diversify and find new chances to profit.
Trading with VT Markets, an award-winning CFD multi-asset broker, enhances this experience even further. VT Markets brings the MetaTrader experience to mobile platforms, offering official MetaQuotes mobile apps for trading on the go.
Compatible with both Apple and Android devices, these apps allow traders to view real-time prices and execute forex trades with the same ease as on their desktop MetaTrader platform.
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