MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most widely used trading platforms in the Forex market, and Exness, a popular online Forex broker, supports both of these platforms. These platforms offer a range of powerful tools and features that help traders make informed decisions and execute trades efficiently. However, many traders, especially those new to Forex, often wonder which platform is best suited for their needs, what the key differences between MT4 and MT5 are, and how they can make the most of the features provided by Exness. This article will explain the key features of Exness's MT4 and MT5 accounts, compare them, and provide useful insights for traders looking to maximize their trading performance.
What is MT4 and MT5?
MT4 is a popular Forex trading platform developed by MetaQuotes Software in 2005. It is widely known for its ease of use, reliable performance, and robust charting tools. MT5, launched in 2010, is an advanced version of MT4 with several added features aimed at enhancing the trading experience. Both platforms are available to Exness traders and offer distinct advantages depending on the trader’s preferences and strategy.
MT4 is known for its simplicity and suitability for beginner traders, but it remains powerful enough for experienced traders who prefer a more straightforward interface. Here are the key features of the Exness MT4 account:
User-Friendly Interface:MT4 provides a simple, intuitive interface that allows traders to access all the necessary tools without any complications. The platform features customizable chart layouts, making it easy to analyze market data and set up trades. Its clean design and easy navigation are often cited as one of its main advantages.
Advanced Charting Tools:MT4 offers robust charting features with over 30 technical indicators and 24 analytical objects. These tools are essential for performing technical analysis and identifying key price levels. Traders can apply various chart patterns and indicators like moving averages, Bollinger Bands, RSI, and MACD to spot trends and predict market movements.
Automated Trading with Expert Advisors (EAs):One of the standout features of MT4 is its support for automated trading through Expert Advisors (EAs). These are custom-built algorithms that execute trades automatically based on predefined criteria. This feature is ideal for traders who want to automate their strategies or trade while away from their computers.
Order Types and Execution Speed:MT4 supports multiple order types, including market orders, pending orders, stop-loss, and take-profit orders. Additionally, the platform offers fast execution speeds, ensuring that trades are filled without delay, which is critical in fast-moving markets.
Wide Range of Markets:MT4 on Exness gives traders access to a wide range of markets, including currency pairs, commodities, and indices. Exness offers competitive spreads, ensuring that traders can execute trades at favorable prices, especially in high-liquidity pairs.
Mobile Trading:The MT4 mobile app is available on both Android and iOS, allowing traders to monitor their positions and make trades on the go. It provides almost all the features of the desktop version, making it convenient for traders who need flexibility.
MT5 is an upgraded version of MT4, designed to meet the needs of more advanced traders. It includes several improvements in terms of functionality, speed, and tools. Here are the key features of Exness’s MT5 account:
More Timeframes and Order Types:MT5 provides additional timeframes for technical analysis, including 21 timeframes compared to MT4’s 9. It also supports more advanced order types like buy stop-limit and sell stop-limit orders, giving traders more flexibility in managing their positions.
Improved Charting and Technical Analysis:MT5 offers advanced charting tools with more than 80 technical indicators and over 40 analytical objects. It also provides a more advanced depth of market (DOM) feature, which allows traders to see the number of buy and sell orders at each price level, aiding in better market analysis.
Multi-Asset Trading:While MT4 is primarily focused on Forex, MT5 supports trading in a broader range of asset classes, including stocks, commodities, futures, and cryptocurrencies. This makes it an ideal platform for traders who want to diversify their trading portfolio beyond currency pairs.
Economic Calendar:MT5 includes an integrated economic calendar, which provides real-time updates on economic events and news that may impact the financial markets. This feature allows traders to stay updated on important market events without needing to use an external source.
Hedging and Netting Systems:MT5 supports both hedging and netting systems, offering greater flexibility in managing multiple positions. While MT4 only supports hedging, MT5 allows traders to choose between the two systems depending on their trading preferences and strategy.
Faster Execution and Greater Stability:MT5 is faster and more stable compared to MT4, offering improved execution speeds and better handling of large volumes of orders. This is crucial for scalpers and day traders who need to execute trades quickly in fast-moving markets.
Advanced Strategy Tester:MT5 comes with a more sophisticated strategy tester than MT4. It allows traders to test and optimize their trading strategies using historical data across multiple timeframes, improving the effectiveness of Expert Advisors and manual strategies.
The choice between MT4 and MT5 depends on your trading needs and experience level. Here’s a quick comparison to help you decide:
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | 9 timeframes | 21 timeframes |
| Technical Indicators | 30+ indicators | 80+ indicators |
| Assets Supported | Forex, CFDs | Forex, CFDs, Stocks, Futures, Commodities |
| Order Types | Standard orders | Additional order types (Buy/Sell Stop-Limit) |
| Strategy Tester | Basic tester | Advanced multi-currency tester |
| Platform Speed | Fast, reliable | Faster, more stable |
MT4 is ideal for beginners and Forex-focused traders who need a simple, efficient platform with the essential tools for technical analysis and automated trading.
MT5 is better suited for advanced traders who require more comprehensive tools, such as additional timeframes, a wider range of asset classes, and advanced strategy testing features.
Conclusion:
Exness offers both MT4 and MT5 trading accounts, each with distinct advantages depending on your trading preferences and objectives. MT4 is a time-tested platform that provides the essential tools for Forex trading, while MT5 offers enhanced features for traders looking to diversify their portfolios and use more advanced trading strategies. Regardless of which platform you choose, both provide access to a wide range of markets, fast execution speeds, and powerful tools, making them excellent choices for traders of all experience levels.
