Since the 90s, trading platforms have continuously been improved and developed in order to create better and easier sessions for its patrons. Now that we have MT5 which is a more modernized version of the MT4 platform, traders are already given the privilege to enjoy many advantages. But before disclosing the many advantages of this platform, let us initially go back to the main reasons why traders have loved MT4.
3 Main Reasons Why Traders Like MT4
The Metatrader 4 platform is famous for its mobility. Thus, this means that it can be used anywhere. In fact this platform has three formats which makes it compatible for IOS,Android and even on your desktop.
- Multiple Functions
This is one of the must- seek features in a trading platform. MT4’s feature for trading and analytical technology impressed a lot of traders. As a matter of fact, experts and long time traders can attest its usefulness to Forex and CFD Trading with the use of its Algorithmic trading which is a function that is unique to this platform.
There is nothing better than trading in a platform that protects your account and your identity. In the case of MT4, its platforms and terminals are encrypted with 28-bit keys.
The Difference Between Metatrader 4 and Metatrader 5
If you find the features of MT4 quite awesome, we advise you not to be too overwhelmed just yet because we are now ready to give main enhancements and differences of Metatrader 5 to its earlier Version.
1.Faster Reaction to Commands
If you found or encountered some lags when opening or closing your MT4 app, MT5 has resolved this issue. Compared to the usual 32-bit, mono-threaded platform with a 2GB to 4GB memory limit depending upon your operating system, the newer version of Metatrader platform is already a 64-bit, multi-threaded platform.
- The two platforms were devised with varied server builds.
Despite the fact that MT4 already has a well functioning and dedicated server that has restricted communications with other servers, Metatrader 5 has the ability to work with other servers which can cause optimization of resources. All in all, metatrader 5 has 4 main servers and these are the following: the access server, the trade server, the history server, and the backup server.
- Better Report Format
When using an app, reports are encoded and readily available for monitoring and printing when necessary. This principle is also present in MT4 platform using HTML file format. Because Metatrader 5 is already an enhanced software,the platform creates reports both in HTML and XML table format.
- More Built-In Indicators
Indicators and Charts play a major role in the devices of trading strategies that is why software engineers for trading applications always make it a point to include as many indicators as they can. To cite, MT4 has about 30 in-built indicators and 33 analytical objects while Metatrader 5 has 38 built-in indicators.
Both MT4 and Metatrader 5 platforms are useful to traders despite their differences. To summarize, as an earlier version of online trading application, MT4 features served as a foundation towards the creation of a better and more advanced yet user friendly platform like the Metatrader 5.