mt4 and mt5 TNFX
The MetaTrader 4 platform it is MT4 and the MetaTrader 5 it is MT5, both of which are used as the main standard for trading through the user interface and provide all the tools and charts the trader needs, order management and deal management, if you open an account on the MT4 platform, you will not be able to use the same account in the platform MT5 and vice versa, if you want to have accounts for both MT4 and MT5 platforms, you must open a separate trading account for each of them
MetaTrader 4 Platform
It 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 the trading process easy. The MT4 platform has spread on a global scale, and it is produced by the company “Meta Quotes Software” based in Cyprus
MetaTrader 5 Platform
It is also produced by “Meta Quotes Software” based in Cyprus, where the company released it in 2010, five years after the release of the MT4 platform
Most traders think that the MT5 platform is only an updated version of the MT4 platform with modern technology and works better, but in fact the MT5 platform was designed to do things that the MT4 platform cannot accomplish and provides some tools that are not present in the MT4 platform
Filling 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 e.g. 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
These restrictions are removed on the MT5 platform where an unlimited amount of trades can be executed, and the database is designed to handle extremely large order flows without compromising the integrity of the platform
Pending Orders
MT4 is designed to accept four different types of pending orders
Buy limit, sell limit, buy stop, sell stop, Orders are archived after 35 days have elapsed
MT5 can handle 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 timeframes in MT4 (M1, M5, M15, M30, H1, H4, D1, W1, MN1)
But in MT5, if you click on Charts and then Time Frames, you will find 21time 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).
We can consider that This is the difference between MT4 and MT5
Analysis Tools
Analysis tools allow traders to draw trend lines as well as support and resistance levels in their various forex charts, as the MT4 platform contains 31 different analytical tools available to traders
Provides very powerful analysis tools With the MT5 platform, traders can choose from 44 different analytical tools
