MT4 VS MT5

[Blender]

MT4 are older technology than MT5 but this metatrader version have more indicator than MT5. Beside that in MT4 a trading strategy like hedging are allowed then like in MT5 thats hedging trading strategy are not allowed.mt5 looks more complicated maybe cause it is still new to us.it is better to open a demo account with mt5 until mastering it.l have tried but l got some charting problem,l just return back to mt4 platform.

I've always been spending time on mt4

 

[v3n3ss4]

Can I run .ex4 file on MT5? Does it fully compatible?

its not compatible. you need to convert .ex4 to ex.5

 

[Jeffiq]

good day I will use an uncommon approach to answer and hopefully at the end people will understand

so we have something called Android 1 now we have android 10.
we have iPhone 1 now we have iPhone 7
ok to some of you you will correct me and tell me a much more later and advanced android or iPhone versions just like MT4 and MT5.

MT4 and MT5 are both products from Metaqoutes and metaqoutes has officially said forget about any more updates to MT4 platforms and 32 bit platforms. WHY?
because these are old and outdated versions.
we notice MT4 is old and like any old software there are limitations

MT5 can do everything MT4 can do
on the point of hedging Correction it depends on ones account type whether it is netting or hedge account.

MT4 was there for a long time and many brokers are subscribed to it whereas not so much on mt5 but why few brokers on MT5 when it has been there for a while it is because of the fact that some functions the brokers offer are not yet coded to mt5 as seen MT4 EAs/Indicators/utilities are programmed using mql4 as opposed to mql5 by MT5 software.

 

[jmcfarland]

is MT5 just an updated version of MT4? i heard it was different alltogether and to just keep MT4 for trading forex currencies?

 

[vmnm]

i prefer mt5 because of its backtest. much better than mt4 for backtesting

 

[CJMT]

MQL4 and MQL5 are two different beasts for coders, but at some point one has to move towards the most modern language. Also metaquotes is pushing MT5 harder now.