There are a lot of trading platforms nowadays. But, it is very important to pick a platform that perfectly suits your trading style. This way, you can maximize your trading potential. When choosing a trading platform, you must also choose a broker that supports it. After all, not every kind of trading platform is supported and offered by all brokers. There are even some brokers who aren’t capable enough to offer high-rated trading platforms but only offer a bridge, a software that secures the connection of the dealing system of the Forex broker into the trading platform. This might sound like a brilliant idea but in cases of malfunctions or a slow connection, the execution of trades and its management might get compromised.
But when you say ‘the best trading platform’, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the best trading platform that we have nowadays. They secured long years of good reputation and their clients are highly satisfied with the services they offer.
MetaTrader 4 is a trading platform known to be the industry’s standard. Almost all Forex brokers offer this trading platform to their clients either through a bridge or directly to the platform. Using a bridge, somehow, will cost a slightly higher commission and spreads. For Forex trading, the MetaTrader 5 is not commonly offered despite being in the same company, the MetaQuotes Software Corporation.
MetaTrader 5, meanwhile, was available in 2010, 5 years after the launch of MetaTrader 4. This was the time when MetaTrader 4 was at its peak of popularity. Seeing their names, traders have this idea that MT5 is an improved version of MT4 and particularly made to do a better job than its predecessor. But it is important to point out that MetaTrader 4 and MetaTrader 5 are not the same at all.
MetaTrader 5 is particularly created to cater to the areas that the MetaTrader 5 cannot do. It particularly aims at a different market. Therefore, you cannot compare these trading platforms against each other’s highs and lows.
The newer trading platform, the MetaTrader 5 is meticulously designed to trade in markets outside Forex, like commodities and stocks as these markets are more centralized. The Forex market is known to be decentralized as there are a couple of players actively providing liquidity into the market. During the time when MetaQuotes released MetaTrader 5, it is believed that it was able to foresee that the commodities and retail stocks market will bloom, the reason why they expanded their already popular trading platform.
Another thing about MetaTrader 4 is that it can also handle hedging while MetaTrader 5 can handle both hedging and netting. But in the United States, hedging is highly prohibited unlike the rest of the world. Traders around the world, meanwhile, find it totally annoying to not be able to execute hedging. This is seemingly one of the reasons why traders are pushed to transfer to MetaTrader 5 from MetaTrader 4 which is said to be more user-friendly.
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