MT4 and MT5 are both software platforms for online trading. MT4, or MetaTrader 4, is a widely used platform for trading Forex, CFDs, and futures. It is developed by MetaQuotes Software and was released in 2005. MT5, or MetaTrader 5, is the successor to MT4 and was released in 2010. It is also a platform for online trading, but it has a number of additional features compared to MT4.
Some of the main differences between MT4 and MT5 include:
Asset classes: MT4 is primarily designed for trading Forex and CFDs, while MT5 is designed to support a wider range of asset classes, including stocks and futures.
Order types: MT5 has a greater number of order types compared to MT4, including the option to use a netting system for exchange-traded instruments.
Technical analysis: Both platforms have a range of technical analysis tools, but MT5 has more advanced tools, including 21 timeframes and 38 technical indicators.
Programming language: MT4 uses a programming language called MQL4, while MT5 uses MQL5.
Both MT4 and MT5 are popular choices for online trading and are supported by a large number of brokers. Which platform is best for you will depend on your specific trading needs and preferences.