The MetaTrader 4 platform stands for MT4 and the MetaTrader 5 platform stands for MT5, both of which are used as the main standard for trading through the user interface and provide everything that traders need from tools, charts, order management and trade management, you must take into account that if you open a trading account on MT4 You will not be able to use the same trading account in MT5 and vice versa, if you want to have accounts for both MT4 and MT5, you must open a separate trading account for each of them.
The MT4 platform is considered one of the most famous and most important platforms in the trading process, as all forex companies offer their clients this platform to make their trading operations easy.
The difference between the two global platforms is represented in several aspects, as follows:
Fill Out the Application
The order filling policy for MetaTredar4 is “Fill or Kill” This means that the trader’s order is required to be filled in the specified volume or the order is canceled.
MetaTrader 5 offers a smoother fill policy, where partial order filling is allowed, for example if a part of a trader’s order is not filled immediately MT5 will automatically create a market order to fill the remaining volume.
Trading Processing
The database hosting the MT4 platform can comfortably handle up to ten million trades and these restrictions are removed on the MT5 platform, where it is possible to execute an unlimited amount of trades, and the database is designed to handle extremely large order flows without compromising the integrity of the platform.
Pending Orders
The MetaTredar4 platform is designed to accept four different types of pending orders, which are known as “Buy limit, sell limit, buy stop, sell stop” and the orders are archived after 35 days have elapsed.
The MetaTredar5 platform can deal with six different types of pending orders. In addition to the orders available in the MT4 platform, there are order types, which are “buy stop limit, sell stop limit” and orders are not archived.
Time Frames
There are 9 different time frames in the MetaTredar4 platform that are familiar to traders (M1, M5, M15, M30, H1, H4, D1, W1, MN)
But in the MetaTredar5 platform, if you click on Charts and then Time Frames, you will find 21-time frames, but with some modifications, for example, you will find the usual time frame but with more times, such as hours, which contains (H1, H2, H3). Consider that this is the difference between MT4 and MT5.
Analysis Tools
The analysis tools allow traders to draw trend lines as well as support and resistance levels in their different forex charts. The MT4 platform has 31 different analytical tools available to the traders while there are very powerful analysis tools with the MT5 platform. The traders can choose from among 44 different analytical tools.
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