MetaTrader 4 and MetaTrader 5, also known as MT4 and MT5, are the Coke of Wai Hui Jiao Yu Ping Tai. Both are popular but cater to different tastes. We’ll break them down to show you the main differences and help you choose the best one for your trading style. Click this link!

MT4, its older brother, is around since 2005. Like a classic car, it’s not the newest model but is reliable and beloved by many. MT4 is a favorite among traders because of its ease-of-use and simplicity. The interface is less intimidating for newbies, and there are just enough features available to help you get started.

MT5, however, is the newer version of the classic car – think more horsepower and a sleeker look. MT5 was launched in 2010 and is not just about Forex. Multi-asset trading platform that allows you to trade commodities and stocks. This platform is more of a Swiss Army Knife, with many additional features such as more indicators, more timeframes and more graphical objects.

Let’s now talk about execution. MT4 has a less complicated algorithm which is a bit slower, but still sufficient for Forex trading. The MT5 platform is much faster. This can be an advantage if you are dealing with many trades on different markets.

There’s also the code language, which is nerdy but very important. MT4 is designed to be easier for newbies to learn. MT5 is based on MQL5, a more powerful language but with a steeper curve of learning. If you plan to use MT5 for heavy algorithmic trading then it might be the best option.

Both platforms have community chat options for those who love to be social. MT4 has a larger community due to its long history in the market. MT5 has been catching up with its growing community of traders.