MetaTrader 4 and MetaTrader 5 Platforms
Developed by MetaQuotes, each platform comes with a suite of advanced tools for technical analysis, charting, and automated trading. Despite both being highly functional, MT4 and MT5 serve slightly different purposes, with MT4 focusing primarily on forex trading, while MT5 extends its support to multi-asset trading and offers enhanced capabilities.
MetaTrader 4 (MT4)
- Purpose: MT4 serves forex traders. It’s user-friendly with key currency tools.
- Main Features: Traders get four order types and nine timeframes. MT4 has many indicators.
- Easy Use: New traders learn MT4 quickly. Experienced users find depth for analysis.
- Auto Trading: MT4 uses Expert Advisors. A big community shares custom tools.
MetaTrader 5 (MT5)
- Scope: MT5 trades forex, stocks, and more assets, including Exness NASDAQ instruments.
- Better Features: It has six order types and 21 timeframes. MT5 offers more indicators and charts.
- Pro Tools: Traders see market depth and use an economic calendar. Order management improves.
- Options: MT5 allows hedging and netting. It uses MQL5 for complex trading programs.
Main Differences Between Exness MT5 and MT4
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both robust platforms offered by Exness, but they have distinct differences in terms of features and functionality. Here’s an overview of the main differences to help traders choose the platform that best fits their needs:
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Supported Markets | Primarily Forex | Multi-asset (Forex, stocks, commodities, indices) |
| Pending Order Types | 4 types | 6 types |
| Timeframes | 9 timeframes | 21 timeframes |
| Market Depth (Level II Pricing) | Not available | Available |
| Order Management | Hedging only | Hedging and Netting options |
| Execution Speed | Standard execution speed | Faster execution with lower latency |
| Technical Indicators | 30 built-in indicators | 38 built-in indicators |
| Charting Tools | Basic charting | Advanced charting with extra indicators |
| Economic Calendar | Not included | Integrated directly within the platform |
| Automated Trading | Expert Advisors (EAs) with MQL4 | Enhanced EAs with MQL5, offering more programming options |
| Mobile and Web Versions | Available | Available, with more advanced functionality |
| Community and Resources | Large community for custom tools and indicators | Growing community with newer, enhanced tools |
Trading Instruments
MT4 and MT5 offer different trading options. MT5 supports more asset types. This appeals to diversified traders. MT4 focuses on forex markets. Here’s a comparison of available instruments:
| Trading Instruments | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Forex | Yes (Major, Minor, and Exotic pairs) | Yes (Major, Minor, and Exotic pairs) |
| Metals | Yes (Gold, Silver) | Yes (Gold, Silver, plus additional metal assets) |
| Commodities | Limited or not available | Yes (Crude Oil, Natural Gas, etc.) |
| Indices | Limited or not available | Yes (Global indices like S&P 500, NASDAQ, FTSE, etc.) |
| Stocks | Not available | Yes (Global individual stocks, depending on region) |
| Cryptocurrencies | Available | Available |
| CFDs on Futures | Not available | Yes, with access to various futures markets |
Charting Tools
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) offer robust charting capabilities, but MT5 has enhanced features that provide traders with more analytical depth and flexibility.
| Charting Tools | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Timeframes | 9 timeframes (from 1 minute to 1 month) | 21 timeframes (from 1 minute to 1 month, including additional intraday options) |
| Technical Indicators | 30 built-in indicators | 38 built-in indicators |
| Graphical Objects | 31 graphical objects | 44 graphical objects |
| Custom Indicators | Supported, with a large community | Supported with MQL5 for enhanced customization |
| Chart Types | Line, Bar, and Candlestick | Line, Bar, Candlestick, and more advanced charting options |
| Indicator Window Layout | Basic (supports sub-windows for indicators) | Advanced (flexible placement of indicators and more customization) |
| Economic Calendar | Not available | Integrated directly into the platform |
Order Types
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) provide a variety of order types, though MT5 offers more flexibility with additional pending order options. These differences enable traders to execute trades and manage positions more effectively according to their strategies.
| Order Types | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Market Orders | Instant Buy and Sell | Instant Buy and Sell |
| Pending Orders | 4 types: | 6 types: |
| – Buy Limit | – Buy Limit | |
| – Sell Limit | – Sell Limit | |
| – Buy Stop | – Buy Stop | |
| – Sell Stop | – Sell Stop | |
| – Buy Stop Limit | ||
| – Sell Stop Limit | ||
| Stop Loss and Take Profit | Yes | Yes |
| One-Cancels-the-Other (OCO) | Not directly available | Supported through custom settings |
| Trailing Stop | Yes | Yes |
| Order Expiration Options | Basic (expiration only on pending orders) | Advanced (supports “Good ‘til canceled” and more) |
| Hedging and Netting | Only Hedging | Hedging and Netting |
Demo trading
Exness offers demo trading on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing traders to practice strategies, learn platform functionalities, and familiarize themselves with the markets in a risk-free environment. Although Exness demo trading is available on both platforms, MT5 offers some additional features that give traders a more advanced simulation experience.
| Demo Trading Features | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Market Access | Forex, metals, cryptocurrencies | Multi-asset access (forex, metals, stocks, commodities, indices, cryptocurrencies) |
| Account Simulation | Realistic environment for order execution | Enhanced realism with Market Depth (Level II pricing) |
| Trading Conditions | Similar to real market conditions | Closer replication of live trading with additional features |
| Timeframes | 9 timeframes available | 21 timeframes for more granular analysis |
| Technical Indicators | 30 built-in indicators | 38 built-in indicators |
| Pending Orders | 4 types | 6 types |
Execution Speed and Latency
Execution speed and latency are critical factors for traders, especially those using high-frequency strategies or trading in fast-moving markets. Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on Exness provide reliable order execution, but MT5 typically offers faster processing and reduced latency due to its more advanced infrastructure and optimizations.
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Execution Speed | Standard execution | Faster execution, optimized for lower latency |
| Order Processing | Single-threaded | Multi-threaded, allowing simultaneous processing of multiple orders |
| Latency | Slightly higher latency, suitable for standard trading speeds | Lower latency, beneficial for high-frequency trading and scalping |
| Order Modification | Standard processing for pending orders | Faster modification of pending orders and stop-loss/take-profit updates |
| Server Infrastructure | Traditional server structure | Enhanced server structure with additional optimization for speed |
Market Depth (Level II Pricing)
Market Depth, also known as Level II Pricing, is a feature available on MetaTrader 5 (MT5) but not on MetaTrader 4 (MT4). Market Depth provides traders with valuable insight into the liquidity of an asset by displaying the bid and ask prices at multiple levels. This information helps traders make informed decisions about entry and exit points and enhances precision in fast-moving markets.
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Market Depth Availability | Not available | Available |
| Bid/Ask Levels | Basic view (best bid and ask only) | Displays multiple bid and ask levels, showing order flow and liquidity at each price point |
| Order Precision | Limited to standard bid/ask spread | Greater precision for entering and exiting orders |
| Useful For | Basic trading strategies | Scalping, high-frequency trading, and analyzing market liquidity |
| Order Types Enhanced by Market Depth | Not applicable | Supports Limit and Stop Limit orders, allowing for precise control over order execution |
Hedging and Netting Options
Hedging and netting are position management systems that allow traders to control risk and manage positions more effectively. MetaTrader 4 (MT4) supports only hedging, while MetaTrader 5 (MT5) offers both hedging and netting options. This flexibility in MT5 makes it suitable for a broader range of trading strategies and risk management approaches.
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
| Position Management | Hedging only | Both Hedging and Netting |
| Hedging | Yes, multiple positions in the same asset | Yes, allows multiple positions in the same asset |
| Netting | Not available | Yes, combines positions into a single net position per asset |
| Ideal For | Forex traders and those managing multiple positions for the same asset | Traders managing single positions per asset or portfolio-style trading |
| Account Type Options | Single account type with hedging | Flexible account type options for hedging or netting |
| Order Modification | Standard modification for hedged positions | Supports switching between hedging and netting modes, enhancing flexibility |
Mobile Apps
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) mobile apps allow traders to manage their trades, analyze markets, and stay updated on the go. Both apps are available on iOS and Android, but Exness MT5 mobile offers more advanced features and an enhanced user experience for traders who require additional functionality.
| Feature | MetaTrader 4 Mobile App (MT4) | MetaTrader 5 Mobile App (MT5) |
| Platform Availability | iOS, Android | iOS, Android |
| Charting Tools | 9 timeframes, 3 chart types | 21 timeframes, 3 chart types |
| Technical Indicators | 30 built-in indicators | 38 built-in indicators |
| Pending Order Types | 4 types | 6 types |
| Order Management | Supports hedging | Supports both hedging and netting |
| Market Depth (Level II) | Not available | Available |
| Economic Calendar | Not available | Integrated economic calendar |
| Account Management | Allows deposits and withdrawals through Exness app | Allows deposits and withdrawals through Exness app |
| Alerts and Notifications | Price and custom alerts | Price and custom alerts with more customization options |
Choosing Between MetaTrader 4 and MetaTrader 5 for Exness Trading
When selecting between MT4 and MT5, it’s essential to consider your trading style and needs. MT4’s simplicity and focus on forex make it suitable for traders who prioritize ease and familiarity, while MT5’s additional features, asset classes, and execution types make it better suited for those looking for comprehensive market coverage and analytical depth.
FAQ
Is MetaTrader 5 Better for Exness Traders Than MetaTrader 4?
MT5 offers more features, including extra order types and a broader range of assets, which can benefit traders seeking expanded functionality.