The MT4 (MetaTrader 4) and MT5 (MetaTrader 5) are two of the most used forex trading platforms throughout the world. These two platforms are designed by the famous Metaquotes Inc. MetaTrader 4 app was released in 2005 and MetaTrader 5 app was released in 2010. Though MT5 app was built as a successor of the MT4, it couldn’t get the same popularity due to the extreme popularity of MT4. But still almost all the brokers have decided to let their clients use both MT4 and MT5 side-by-side.
Metaquotes Inc understood this situation and allowed people to run both apps. The popularity of MetaTrader 4 platform and MetaTrader 5 platform among the forex traders has been beyond expectations. Therefore, many brokers who didn’t allow their clients to use MT4 and MT5 platforms to do forex trading were forced to reverse their decision by allowing them to use both these platforms.
Brokers had to take a clear-cut decision here to save their business because if they don’t allow MT4 and MT5, they are bound to lose a lot of clients to the brokers who will allow these platforms. Today, each and every forex broker offers MetaTrader 4 app and MetaTrader 5 app to their clients. Because if they don’t offer these platforms, they will simply move to the next brokers who are ready to offer these platforms. There are a lot of reasons behind this extreme popularity of MetaTrader 4 app and MetaTrader 5 app. Here we are going to discuss them as follows:
Easy to Use: MetaTrader 4
The first thing which makes both these platforms popular among the retail forex traders is the ease of using both platforms. Doing Forex trading and CFD trading is quite tough and challenging on its own. Therefore, if a broker introduces a platform which is hard to use, then a trader will find it very tough to trade and eventually lose interest from forex trading. This is where MT4 and MT5 came like a blessing. It was really easy to use and get hold of. Even the newbies find it easy and comfortable in trading.
Many forex traders held training seminars and from those seminars one common issue got out which is most of the traders find it challenging to learn how to use MetaTrader 4 app and how to use MetaTrader 5 app. Some find navigating around the functions, charts, and order placement buttons real confusing. But MetaTrader 4 app and MetaTrader 5 app made things quite easy by giving a variety of shortcuts as well as a few alternative ways to execute the functions. For example, you can place a new order on the MT4 and MT5 in three different ways.
- By pressing the F9 button
- By clicking the New Order button from the interface
- By clicking Tools and then choosing New Order.
Here you can see traders are able to use three different ways which provides flexibility to the traders and this is one of the main reasons for their popularity.
Multi-Purpose Platform
Both the MT4 and MT5 has the multi-purpose nature which make them more appealing to the forex traders. MetaTrader 4 platform and MetaTrader 5 platform provide their clients a variety of necessary functions for making their trading process easier. For instance, you can access to all the news of the ongoing market from the News Bar in the Terminal Window. This will also help you to cope up with all the happening events which eventually will help you making your trading better. Some news can have a great impact in the forex trading market. Therefore, getting the opportunity to cope up with all the happening events is really extraordinary and for this reason people are commonly using these platforms for forex trading all over the world.
There are some more functions which the MT4 and MT5 trading platforms offer to their clients. If you want to study the forex market and analyze the assets before starting your trading journey, then both these platforms can help you by providing interactive charts. MQL Community is a popular website among the forex traders in order to purchasing scripts and indicators as well as getting expert advisors. MetaTrader 4 forex trading and MetaTrader 5 forex trading platforms can help you connect to the MQL community through their Market and Code Base Tab from the Terminal Window.
Traders can get the benefits of paying directly from their MT4 and MT5 account balance to purchase those items. MetaTrader 5 has the most existing functions and features. Here we are elaborating them as follows:
- Get hold of the Economic Calendar which will help you discover all the important news events.
- Opportunity to use the fund transfer facility by which you can transact to multiple accounts of the same trader.
- Access to the community chat.
Interface of MetaTrader 4
- Both CFDS & Forex in One Place
MetaTrader 4 online and MetaTrader 5 online are the only two platforms from where you can trade to all forex markets throughout the world. These two platforms are basically a one-stop shop for the retail forex traders. No matter whether they are for forex pairs or CFDs or indices or stocks and commodities, MT4 and MT5 got them all in one place. This is a huge benefit for the traders as they don’t have to roam here and there in search of these assets. You can also trade cryptocurrency pairs as CFDs on MT4 and MT5 trading. Therefore, you will never miss out an opportunity as you have the access to all the available trending and moving markets.
- Opportunity to Get Automated Trading
This was a crying need of all the forex brokers from the very beginning. MetaTrader 4 forex trading and MetaTrader 5 forex trading make this happen and from then it has become icing on the cake. MetaTrader 4 platform and MetaTrader 5 platform were the first ones to provide the traders opportunity to open and close trading positions automatically by using forex robots. The best part of this feature is that all the coding languages are already built into the system along with the forex robot design interface and optimization. This feature allows emergency debugging and editing, redesign and optimization of the robot for the better functionality and work experience.
Interface of MetaTrader 5
- Available in Multiple Versions
MetaTrader 4 and MetaTrader 5 have multiple versions available for their clients. You can trade on the MT4 and MT5 as a desktop trader by installing MetaTrader 4 Windows or MetaTrader 5 Windows. If you use linux on your desktop, then you will need to install MetaTrader 4 Linux or MetaTrader 5 Linux.
You can trade MetaTrader 4 online and MetaTrader 5 online by using a web-based version as well. To do that, you will have to use MetaTrader 4 web and MetaTrader 5 web.
In case, you want to use MT4 and MT5 platforms on your mobile, then you will need to install MetaTrader 4 android and MetaTrader 5 android. Each and every mobile platform has their own version of MT4 and MT5 trading. Even the iOS users can install these platforms on their phone.
Both the MetaTrader 4 setup and MetaTrader 5 setup are quite easy and anyone will be able to do that. So, you won’t have to do any hassle to set up these two platforms on your device.
If you have multiple trading accounts, then MT4 and MT5 download can help you with that also by giving you access to Multitrader so that you can manage multiple accounts at the same time.
Wrap Up
In recent times, MetaTrader 4 demo and MetaTrader 5 demo have also become more popular and renowned all over the world. And how the things are going for them, it is safe to say that they won’t be challenged at any time soon. We mentioned all the commonest reasons for the immense popularity of these platforms. If you want to use any of these two platforms or both of them, we will certainly provide you a green signal to do so. You will surely find it useful in trading. Therefore, we can firmly say that, due to some very obvious reasons MetaTrader 4 demo account and MetaTrader 5 demo account are becoming popular platforms among the forex traders all around the world.
