Differences between MetaTrader 4 and 5.

At the moment, the most popular trading platform is the MetaTrader terminal, but some traders find themselves at a dead end because there are two versions of this program 4 and 5, which one should you choose?

What is the difference between these two options and are there any advantages to the newer version?

To be objective, first of all, it should be noted that MetaTrader 5 has not gained the same popularity as the fourth version; brokers offer it for download less often.

And the number of auxiliary scripts for working in MT5 is much smaller, let’s move on to an overview of the main differences:

• Depth of Market - in MT5, unlike MT4, in the newer version for most instruments it is possible to see, in addition to the price, the volumes of submitted orders.

• More time frames - in MT5 the number of time intervals M1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30 H1 H2 H3 H4 H6 H8 H12 D1 W1 MN1 has been significantly increased - There are twice as many of them as in the previous version.

• Window "Market Watch" - two new tabs have appeared: "Details" - price review and "Trade" - the ability to open an order in one click, in addition, the size of the spread and swap for the selected currency pair is indicated.

• Greater information content - much more additional information is available in MetaTrader 5 on transaction volumes, established stops, commissions, etc.

• The capabilities of technical analysis have been expanded - in the fifth version it became possible to add Elliott waves to the chart, and other minor improvements were added.

• Managing stops with the mouse - now you can drag stop loss or take profit using the mouse in the chart window.

• The capabilities of the strategy tester have been expanded.

And now about the negative changes in MT5:

• There is no possibility of locking positions.

• Deterioration of work with orders; if previously it was possible to open a grid of orders and observe it on the chart, then in MetaTrader 5 all these positions will be displayed as one.

• Much smaller number of available scripts - advisors, indicators.

In general, we can say that MetaTrader 5 is more suitable for a conservative trader who opens a small number of orders. You will also have to get used to some design features and the lack of the ability to apply locking .

As for my personal opinion, I liked the terminal, but for full operation it will take some time to learn all the functionality.