MT4 or MT5, which one should I use?
My broker offers both. Is MT5 just a newer MT4, or are they really different?
For education only. This is not financial advice. Trading carries a high risk of loss.
Log in to reply.
1 Answer
Best answer
Both are good. The practical differences:
- MT5 has more timeframes (21 compared with 9 in MT4), more order types, a built-in economic calendar and depth of market.
- MT4 is simpler and has a huge library of older indicators and Expert Advisors.
- Files are not compatible: MT4 uses .ex4 and .mq4 files, MT5 uses .ex5 and .mq5.
Choose based on your broker and the tools you want to use. If you rely on a specific EA or indicator, check which version it supports. If you are starting fresh, MT5 is a good default.
Log in to reply.
