Meta Trader 4 and Meta Trader 5 are both good trading platforms for starters, that being said let me go further to give you more info on MT4 or MT5 for beginner.
If you are a beginner in the forex market, it is much easier to keep things simple and stick to the most used trading platforms which are MT4 and MT5.
As a beginner in the forex market, MT4 and MT5 platforms have all the tools you need for your trading.
MT5 is indeed much more robust and efficient than MT4 however MT4 is still widely used by many traders.
- WHICH IS THE BEST TRADING PLATFORM FOR BEGINNERS?
- MT4 OR MT5 FOR BEGINNER
- IS MT5 GOOD FOR BEGINNERS?
- WHAT ARE MT4 AND MT5?
- WHICH IS BETTER MT4 OR MT5
- IS MT5 FASTER THAN MT4
- MT4 VS MT5
- MT4 VS MT5 SPREAD
- MT4 AND MT5 BROKERS
- MT5 WEB
- IS MT4 SAFE?
- IS MT5 SAFE?
- IS MT4 FREE?
- BEST BROKER FOR MT4
- META TRADER 4 MINIMUM DEPOSIT
- WHAT IS MT5 USED FOR?
- MT5 DOWNLOAD
WHICH IS THE BEST TRADING PLATFORM FOR BEGINNERS?
It would be unfair to say that MT4 and MT5 are the best trading platform for beginners.
Let us look at it this way, there are other alternatives to Meta quotes that are doing well.
However, at the moment the majority of the Video forex tutorials on the internet use MT4/MT5.
That being said it will be difficult for beginners not to start with MT4 and MT5 which will eventually become their preferred platforms for trading.
Maybe after using MT4 and MT5 for a while, with the experience a trader can go on to other platforms.
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MT4 OR MT5 FOR BEGINNER
Note that MT4 and MT5 are both good for beginners, however, the MT5 is an advanced version for multi-asset options and it’s the future.
MT4 is made for CFD forex instruments while MT5 is a multi-asset trading platform and MT5 is much faster than MT4 in every way. Note that MT5 is not an upgrade of MT4.
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IS MT5 GOOD FOR BEGINNERS?
Yes, MT5 is perfect for beginners because it’s faster and more efficient, and has more graphical tools, indicators, and timeframe. Starting with MT5 as a beginner is a good start.
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WHAT ARE MT4 AND MT5?
MT4 and MT5 also known as Meta Trader 4 and Meta Trader 5 respectively, are both electronic trading platforms widely used by online retail foreign traders.
Both platforms are widely used by traders. MT5 is an advanced trading platform designed by Meta Quotes software.
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WHICH IS BETTER MT4 OR MT5
MT5 is by far better than MT4 for many reasons; MT5 comes with all the tools of MT4 and more.
MT4 is designed for CFD forex instruments while MT5 is designed with multi-asset trading options and is much faster for internet speed connectivity.
IS MT5 FASTER THAN MT4
Yes MT5 is faster than MT4.
MT4 VS MT5
Am going to share with you a comparison table of Meta Trader 4 and Meta Trader 5; the table is according to Metatrader 5.com
| MT4 | MT5 | FEATURES |
| Partial filling Policy | Yes | No |
| Order fill Policy | Fill or kill immediate or cancel return | Fill or Kill |
| Yes No attachments | 6 | 4 |
| Depth of market | Yes | No |
| Time & scales(Exchange data) | Yes | No |
| Technical Indicators | 38 | 30 |
| Graphical Objects | 44 | 31 |
| Timeframes | 21 | 9 |
| Economic calendar | Yes | No |
| Email System | Yes with attachments | Yes no attachments |
| Funds transfer between accounts | Yes | No |
| Embedded MQL5 Community chat | Yes | No |
| Strategy tester | Multi-threaded+Multi-currency+Real ticks | Single thread |
| Multi-Lingual Unicode | Yes | No |
| Netting | Yes | No |
| Hedging | Yes | Yes |
| Symbols | Unlimited | 1024 |
| Supported Markets | Forex/Futures/Options/Stocks/Bonds | Forex |
| Exchange trading | Yes | No |
MT4 VS MT5 SPREAD
There are no differences in spread on both platforms, do not forget that spread, commission, swap, and all other charges are determined by your broker. Therefore these charges will vary from the broker you choose to use.
MT4 AND MT5 BROKERS
Hundreds of brokers offer MT4 and MT5 to their clients. I am going to be listing a few of them.
FXTM
Alpari
FBS
HOTFOREX
Pepperstone
MT5 WEB
The MT5 web platform allows traders to trade the market from their preferred browser and operating system (Windows, Mac, and Linux) the MT5 web version has all the tools just like the downloaded application. With just a few clicks away, you are good to go and the information on the MT5 web is encrypted.
IS MT4 SAFE?
MT4 is safe, and all information between the trader and server is encrypted. While you trade on the platform your IP address is Concealed and secured.
IS MT5 SAFE?
Mt5 uses data encryption and extended authentication to protect clients’ information from hackers. It is relatively a safe platform.
IS MT4 FREE?
YES and No. I said yes and No because MT4 is free for traders to download and make use of all the available features. However, for brokers, it is not.
Brokers pay an upfront $100,000 fee for a full license and then follow up with a monthly hosting fee of $15000. This monthly fee covers services like bridging, hiring, and 24/5 support services.
BEST BROKER FOR MT4
The best broker for Mt4 completely depends on your experiences with the broker, the services they offer, and their charge level in terms of spread, swap, and commission.
With over a decade of trading, I will say that the best broker for MT4 is XM.
And MT5 as well; Generally Xm is very efficient and I will suggest them anytime.
META TRADER 4 MINIMUM DEPOSIT
The minimum deposit is determined by your broker and not Meta Trader 4. That being said, note that some brokers offer as low as $5 as a minimum deposit, some even offer a no-deposit bonus like XM.
WHAT IS MT5 USED FOR?
MT5 is a free application for traders to use to trade an unlimited amount of assets in the financial market.
The application aids traders in performing technical analysis and making informed decisions.
MT5 DOWNLOAD
You can down the MT5 trading platform from the Meta Quote website (https://www.metatrader5.com/en/download)