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Metatrader 5 Trading Terminal is the latest version of the popular forex trading platform produced by MetaQuotes, the company behind Metatrader 4 and MQL4 development environment. It will support all forex industry standards and feature improved performance and high working speed, new timeframes and order types and the possibility to trade on futures and stock markets. Metatrader 5 has also a build-in NFA ruling compliance support. The new regulations are prohibiting traders from hedging (having long and short positions open on the same currency pair at the same time). This means that hedging is disabled and multiple positions will be consolidated into one netted off trading position.

The lack of hedging support is bad news for traders who use order hedging within one currency as part of their trading strategy or expert advisor trading. Currently, only Metatrader brokers in US are affected, but moving trading accounts from US to other countries where hedging is still allowed is pointless because many Metatrader brokers will soon start switching to the new Metatrader 5 platform. This is a great benefit for the retail forex market makers ( Metatrader brokers and dealers ) because when a hedging loss is made, the profits go to the market makers and not traders.

 

Metatrader 5 will also have influence on broker dealing desks which may become fully automated. In the past forex dealing desks could be spotted out by using program execution delays. The new Metatrader 5 terminal is much faster and designed for the forex brokers to make more money from the trades. It may also become easier for the Metatrader brokers to use the so called "virtual dealer" plugin.

Metatrader 4 is used by more than 300 brokers all over the world. With the new Metatrader 5 software, this number will definitely grow higher. A few months ago Alpari Russia, a Metatrader 4 broker, announced the upcoming availability of Metatrader 5 for its clients. Two weeks ago, the leading broker FXDD also announced the launch of the Metatrader 5 platform, a demo account is already available. According to many traders, FXOpen and Broco will also offer Metatrader 5 for their clients because both of the brokers are known for being innovative in their approach to forex traders and both rely heavily on MetaTrader software and its features. It is also expected that some brokers will give their clients the freedom to choose: stay with Metatrader 4 or upgrade to Metatrader 5.

 

One of the disadvantages of Metatrader 5 is that the MQL4 developing environment which is used to produce trading indicators and expert advisors is not compatible with MQL5. This means that all custom MQL4 code must be rewritten in the new programming language which is very time consuming. If, however, there will be a software tool to convert the existing indicators, scripts and expert advisors from MQL4 to MQL5, the process of introduction of the new Metatrader 5 platform to clients of brokers who use Metatrader software will be much smoother.

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10 DIFFERENCES BETWEEN MT4 AND METATRADER 5

1. Installation

MT4: Installation is simple, and straightforward.

METATRADER 5: Installation is not as simple when compared to MT4. The manufacturer's demo trading server (METAQUOTE) is a default in the opening account phase of the installation. An option to add new trading server from METATRADER 5 for a demo account is also included.

2. Charts/Timeframe

MT4: There are nine (9) timeframes. There are limitations to the number of charts that can be opened at the same time.

METATRADER 5: There are 21 timeframes ranging from 1 minute to 1 month, and unlimited number of charts. One hundred charts can be opened at the same time without limitations.

3. Fundamental Analysis (news trading)

MT4: Forex Economic Calendar is not included in the news tab.

METATRADER 5: The platform has an inbuilt Forex economic calendar tab with features like news event, schedule, impact, forecast, earlier events, e.t.c.

4. Commerce/Market

 

MT4: The market utility tab is not integrated into the platform. You have to visit MQL4.com in order to buy any of its product in their market place.

METATRADER 5: The market utility tab is built inside the platform. You can directly buy Forex products through the market tab.

5. Indicators & Analytical Objects

MT4: There are 30 inbuilt indicators pre-installed on MT4 platform.

METATRADER 5: There are 38 inbuilt indicators pre-installed on METATRADER 5 platform. There are 22 analytical objects, and 46 graphical objects added to the platform.

6. Orders

MT4: It has only two (2) market orders, and four (4) pending orders.

METATRADER 5: More order types are included in the platform. There are two (2) market orders, six (6) pending orders, and two (2) stop orders.

7. Expert Advisor

MT4: The MQL code editor and strategy tester are the main utilities used for expert advisor design. Expert advisors are programmed with MQL programming language, and they are faster to compile. It is not possible to transfer expert advisor codes from MT4 to METATRADER 5. Therefore expert advisors designed in MT4 would not work on METATRADER 5.

METATRADER 5: It comes with more utilities for expert advisor design. The strategy tester utility has been upgraded, and a strategy tester agent manager for remote optimization of expert advisors was also added. Expert advisors are designed with C++, and they are slower to compile due to the dynamics of C++ programming language.

8. Interface

MT4: The interface is easier to navigate when compared to METATRADER 5. The one click trading feature, and the drag and drop functionality is included in build 500 version only.

METATRADER 5: There are slight differences on the platform's interface. A search box has been included on the platform as well as a details tab on the market watch window.

9. Trading (Hedging, FIFO, e.t.c.)

MT4: There are no restrictions on any trading method. However broker regulations is implemented on their proprietary MT4 platforms.

 

METATRADER 5: It does not support hedging of trades, and it also implements the FIFO policy by default.

10. Brokers

MT4: Most brokers deliver their services on MT4.

METATRADER 5: Fewer brokers deliver their services through METATRADER 5 when compared to brokers who deliver their services on MT4.

It is quite obvious that METATRADER 5 has more features when compared to MT4. But why do most Forex traders use MT4 in trading the Forex despite the improved features in METATRADER 5? Here are the reasons.

1. Expert advisors designed with MQL programming language cannot work on METATRADER 5. They cannot also be transferred to METATRADER 5. The only way out is to rewrite the codes in C++.

2. Hedging, and closing of orders irrespective of their positions is not allowed in METATRADER 5 platform. The platform automatically implements NFA rules

These two reasons are the main discouraging facts of METATRADER 5. This is the reason most Forex traders still prefer to trade the Forex with MT4 rather than trading with METATRADER 5.

Tag:
forex,
trading,
fibonacci,
retracement,
target
,daytrading,
technical
,analysis,
profits,euro
,dollar,
currency,
learn,
FX
watch all video them click here: https://goo.gl/gsuqv1

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