FBS MT4 and MT5. Table of Contents


Comparison of FBS MT4 and MT5

There are several types of platforms for trading Forex with FBS, but the current mainstream is MT4 developed by MetaQuotes.

This time, we will compare the specifications of MT4, which is firmly popular, and its successor, MT5.

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What is a trading platform?

In the first place, the platform refers to software for checking charts and buying and selling currencies when conducting Forex trading.

If the operability of the platform, which can be said to be the basis of trading Forex, is poor, the time between the intended timing and the actual trading will be different, which will affect the results of Forex trading.

There are several types of platforms introduced by Forex brokers, such as cTrader and MetaTrader, which are dedicated to the ECN (Electronic Communications Network) environment and have excellent execution quality, and MetaTrader 4 (MT4), which is highly popular and can be said to be the world standard.

There is the successor MetaTrader 5 (MT5) and so on.

In addition, some brokers are developing their own platforms.

Although each has its own characteristics, not all brokers offer all types of trading platforms, so it is important to weigh this point when choosing a Forex broker.

Open FBS’s Mt4 or MT5 Account

MT4 was developed by Russian software company MetaQuotes Software Corp in 2005 and is still used by many traders.

It can be said that MT4, which was released about 15 years ago, is still very popular because of its functionality and operability when compared to other platforms.

In terms of operability, many people tend to prefer MT4 to MT5.

Also, since most Forex brokers have introduced MT4, once you learn the operation of MT4, you will not have any trouble when trading with other brokers

MT4 has a dedicated copy trading tool called “EA (Expert Advisor)”, and it is possible to trade 24 hours a day by using it for automatic trading.

You can aim for trading opportunities even while you are sleeping, and the many options you have are one of the attractions.

In addition, MT4 is equipped with more than 50 types of technical indexes as standard, and multiple charts can always be displayed on one screen.

This allows you to customize the display of the transaction screen so that you can configure it for your own convenience.

This feature is a great advantage compared to other platforms.

In this way, MT4 has a lot of functions, and while its popularity continues, why was the successor version MT5 released?

Find out more about FBS MT4

MT5 dedicated to Stock and Commodity trading

MT5 was released in 2010 as the successor to MT4.

Why was MT5 released when so many traders were happy with trading in MT4?

If you have the idea that MT5 is an improved version of MT4, let’s put that idea aside.

That’s because MT4 and MT5 are each designed for different markets.

MT4 is a system developed for Forex trading, while MT5 is designed to be plugged into the central exchange for trading stocks and commodities other than Forex trading.

During the development stage of MT5, Metaquotes is said to have predicted the arrival of a stock and commodity trading boom and designed the software to suit the market.

It’s difficult to weigh platforms designed for different markets, but let’s take a look at MT5 as it has some of the best features compared to MT4.

Find out more about FBS MT5

1. Market Depth information can be displayed

Compared to MT4, MT5 has similar functionality and interface, but it has more excellent functions, and the typical one is that it can display “Market Depth”.

Market Depth is information that indicates “how many orders are in which price range”, and since it is possible to identify the price range where orders are gathered, it is possible to predict the latest price movement to some extent.

However, in Forex, it is just a reference value, so you may want to avoid trading with the Market Depth as a swallow.

Try FBS MT5’s Market Depth

Full backtest function

Backtesting is to verify what happens to the investment performance if you buy and sell automatically with a specific EA by applying it to the past market price.

The backtest function of MT5 is more substantial than that of MT4, and it is equipped with functions such as strategy tester and forward test.

The Strategy Tester is a free backtesting feature that allows you to verify the performance of your EA by instructing them to perform a backtest on the screen.

Backtest your EAs with FBS

3. Increased number of hourly displays compared to MT4

As another enhanced function, the number of displayed hourly bars has increased compared to MT4.

Whereas MT4 had 9 types, MT5 can now display about 20 types of timeframes, such as 2 minutes, 10 minutes, and even 12 hours, which MT4 did not have.

As the number of types of timeframes has increased, it has become possible to analyze market trends in more detail than ever before.

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4. Forex brokers adopting MT5 one after another

Although the number of Forex brokers that have already adopted MT5 is not large, major brokers are promoting the introduction of MT5, and most recently.

According to FBS, the MT5 introduction was made to make it easier to create and customize backtesting functions for EA, trade robots, etc., and to improve the user experience.

In addition, it seems that brokers who have not introduced MT5 are still considering introducing it after confirming the persistent popularity of MT4 and the demand for MT5 in the customer survey.

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Has MetaQuotes stopped updating MT4?

As we have seen, MT4 and MT5 are both functionally rich, but according to the developer MetaQuotes, MT5 is updated several times a year, but MT4 is more than that.

It seems that there are no plans to update.

With this information, if you are wondering whether to continue using the familiar MT4 or switch to MT5, it is a good idea to choose the platform that suits your trading style.

You may want to consider switching to MT5 if you need to do a lot of backtesting or if you have access to stock and commodity exchanges that are difficult to trade on MT4.

Unless you have a specific reason to switch, you can continue to use the familiar MT4.

However, as mentioned above, since the market targeted at the time of designing MT5 is a different platform from MT4, there is no possibility that a further next-generation version of MetaTrader closer to MT4 will be developed in the future.

Let’s select the platform that suits you while checking the latest information around that.

Full Comparison of MT4 and MT5 Platforms