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:

• Market Depth - in MT5, unlike MT4, in the newer version, for most instruments, it is possible to see not only the price but also the volume of placed orders.

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

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

• More information - in MetaTrader 5, much more additional information is available on transaction volumes, set stops, commissions, etc.

• Expanded technical analysis capabilities - the fifth version now allows you to add Elliott waves to the chart, and other minor improvements have been added.

• Stop management with the mouse - it is now possible to drag stop loss or take profit with the mouse in the chart window.

• Expanded capabilities of the strategy tester.

And now about the negative changes in MT5:

• There is no possibility of locking positions.

• Deterioration of work with orders: if earlier 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.

• A much smaller number of available scripts - advisors, indicators.

In general, it can be said 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-fledged work it will take some time to study all the functionality.