Currently, in order to actually trade with Exness, an overseas Forex company, you must know the difference between MT4 and MT5 compatibility. MT4 and MT5 are famous as world standard trading platforms, but what are the differences and features? This time I will explain the differences between MT4 and MT5.
Exness trading tools
MT4 and MT5 are actually adopted as trading tools by Exness. You will have to choose a trading tool from these two. Trading tools are available for all accounts offered by Exness. There are 4 accounts, but MT4 and MT5 can be used with any account, so you don’t have to worry about the difference between accounts. Exness does not offer trading tools other than the MT series.
Metatrader is an essential tool for overseas Forex companies
Metatrader is an essential tool when using overseas Forex companies. Exness also has a web trader, but it is better to get used to operating MT4 or 5 than these. Setting the indicator may be a hassle, but it’s easy to get used to it because you just tap it. Just tap to make payment. You can use it immediately by entering your login ID, password, and server name. It is also possible to adjust the maximum lot. Withdrawals will be made using your Exness account. Demo trading can also be done on MT.
Compatible with both smartphones and PCs
Both MT4 and MT5 are compatible with smartphones and PCs. Viewing chart information is also very easy and easy to use. It’s easy to change and check. The tool is introduced in the article below, but you can download it for free by logging into your account on the official website. If you have multiple accounts, you can add them. MT also supports automatic trading. It is a favorite tool of professional traders, so let’s learn it.
What is Meta Trader 4
Meta Trader4 is commonly called MT4. MT4 is a platform developed by Russian company MetaQuotes in 2005 that allows Forex trading for various financial products. Smartphone apps and recently MT4 that can be completed on the web without the need to install software have also appeared. In MT4, there are 9 types of time axes that can be displayed. MT4’s innovative ease of use has made it a favorite of traders around the world since its release in 2005.
What is Meta Trader 5
Meta Trader 5 is commonly referred to as MT5. MT5 is a platform developed by Russian company MetaQuotes in 2010 that allows Forex trading for various financial products. Smartphone apps and recently MT5 that can be completed on the web without the need to install software have also appeared. MT5 is characterized by its excellent customizability and the ability to display analysis tools such as various indicators on the screen at the same time. Since MT5 has more functions than MT4, those who use MetaTrader should use MT5 from now on.
Difference between MT4 and MT5
What are the differences between MT4 and MT5 when using a broker? We have created a feature comparison table below. There seems to be a difference in how good or bad the movement is depending on the person. There are advantages and disadvantages depending on the currency pair. In terms of some of the standard features, it is definitely MT5, but it is necessary to use it with great consideration to details such as the speed of buying and selling settlements. I will explain which one is better if you are a new user and want to play around with it as the main one.
| MT4 | MT5 | |
| Maximum leverage | Unlimited | Unlimited |
| EA type | many | few |
| custom indicator | many | few |
| indicator | 30 | 38 |
| time frame | 9 | 21 |
| virtual currency | 16 | 27 |
| iOS | 〇 | 〇 |
| Android | 〇 | 〇 |
| Windows | 〇 | 〇 |
| MacOS | × | × |
| programming language | MQL4 | MQL5 |
Number of cryptocurrency stocks
MT5 has more virtual currency stocks than MT4. MT4 allows you to trade major coins such as Bitcoin and Ethereum, but MT5 has more altcoins. In addition, MT5 has better specs, so you can buy and sell funds instantly, trade more frequently, and operate smoothly. However, it consumes a lot of memory and the window may run slowly if it is a system terminal on a low-spec computer. Even if you look at the candlesticks, if you don’t move quickly, your judgment will be clouded and you risk missing out on opportunities.
About time frame
Regarding the time frame of quotes, MT5 is more common than MT4. MT4 has 1 minute, 5 minute, 15 minute, 30 minute, 1 hour, 4 hour, 8 hour, daily, weekly, and monthly timeframes. MT5 is even more detailed and supports 21 types including 2 minutes, 3 minutes, 4 minutes, 6 minutes, 3 hours, and 12 hours. MT5 allows you to compete in the market with a discretionary and advantageous style. When compared, technical analysis is easy and advantageous. However, MT5 is still less popular.
MT4 is for automatic trading
Since MT4 has a longer history than MT5, the history of EA is long, and many EAs have been developed. EA is overwhelmingly developed for MT4, and popular EAs are often for MT4. The program is developed in a language called MQL, and since MT4 and MT5 are not compatible, each EA exists independently.
number of indicators
MT5 has a wide range of 38 types of external indicators implemented from the beginning, slightly more than MT4’s 30 types in terms of content. In the smartphone app version, this indicator type is the same for both MT4 and MT5. In conclusion, if you want to select and draw many lines at low and high prices such as horizontal lines, triangles, rectangles, and Gann lines, MT5 is of course recommended. It is also useful for making predictions for short-term and long-term purposes.
Leverage limit
There is a difference in the limits on leverage. The main difference is that the leverage is limited. Exness tends to favor MT4, with significantly higher leverage figures. On the other hand, MT5 will be subject to leverage restrictions. Unlimited is only allowed for MT4, and the margin must be less than $999.
| Margin | MT4 | MT5 |
|---|---|---|
| ～999$ | Unlimited | 2000 |
| 1,000～4,999$ | 2000 | 2000 |
| 5,000～14,999$ | 1000 | 1000 |
| 15,000～29,999$ | 600 | 600 |
| 30,000～59,999$ | 400 | 400 |
| 60,000～199,999$ | 200 | 200 |
| 200,000$～ | 100 | 100 |
By the way, you can not select unlimited leverage unless you clear certain conditions. The condition is that the number of transactions is 10 or more, and the number of transactions is 10 or more. It’s easy to clear, so it’s not a very high hurdle.
MT4 and MT5 compatibility
By the way, MT4 and MT5 are not compatible. In other words, there are many cases where tools that were available in MT4 cannot be used in MT5. This means that the programming language used in MT4 and MT5 is different in the first place, that is, the development environment is different in the first place, so it cannot work. Therefore, please note that it cannot be easily ported just because it is the same series.
Development of MT4 has ended
There are many FX brokers that only support MT4, but since network development for MT4 has ended, there will be no updates in the future. Please note that support has been completely terminated by MetaQuotes, which was developed in 2021, so even if a problem occurs, you will not be able to get any support.
In the future, MT5
For this reason, MT4 users should move to MT5 from now on. MT5 is a tool that MetaQuotes is currently developing with great effort, and it is currently being updated, so it is highly recommended. For those who want to start trading from now on, MT5 should be your only choice.
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