Tweak Your Biz: Why Meta Trader 4 Is Still More in Demand Than Meta Trader 5

Meta Trader has already proved to be the buzz word in the world of trading. With the new and advanced way of trading available, it has definitely provided a more efficient platform for forex trading. With the immense success of Meta Trader 4, traders have already started to wait for an advanced version of Meta trader 4.The wait has finally ended as the Meta Trader 5 is out and looks quite promising.

If you are new to forex trading then you would not be able to figure out the difference between various platform, however, Meta Trader is developed by Meta Quotes Software Corp which has already proved its technical skills previously and is a pro in developing applications and software for the financial market. The unique selling point of Meta Trader is that it makes use of its own programming language which helps the traders to build its own indicators according to his needs and requirements.

MT4 Versions Available for Trading Today

MT4 is a very popular trading software, because of its striking features, it has compelled other brokers as well to make use of this version who were previously using other software for trading. However with the advancement in technology MT4 has also undergone several modifications year after year. Following are some of the formats in which MT4 exists

A desktop client which makes use of MT4
Used for trading multiple accounts at one time this makes use of MT4 Multi trader. This is very beneficial for managing multiple portfolios.
Used for web transaction which works with MT4 Web Trader, is like a boon for traders who are more into web transactions. It’s very convenient as it only requires a platform URL for which each account requires a password and a username.
Used for IPad and iPhone which makes use of iOS software. A special MT4 iOS is made use of to run an operation on IPad and iPhone
MT4 for rest other window enabled smartphones which work in a similar way as the one used in a computer
MT4 Android OS form, which is ideal for Android phones and tablets.
MT4 version for Blackberry which is used for Blackberry smartphones

Keeping in mind several aspects and the changing technology the makers have come up with a more advanced version of MT4 which is the MT5. The Meta Trader 5 is a step ahead of Meta Trader 4 with some considerable differences. However, the main function still remains the same. Both the versions have their own sets of pros and cons for each party. The MT5 platform is still new to the market and has not yet proved its caliber. It is taking some time for the traders to get used to the features of MT5 and is still finding operations of MT4 easier. However, nothing vigorous can be said for MT5 as it is still early days and as time goes buy it is expected to become the broker’s pet.

Features of the Meta Trader 5 Platform

The best part about MT5 platform is that it is easier to navigate in between operations as it comes with easy switching from one account to another in case there is an activity in the market. Therefore a trader can manage different windows and is able to refer to various forex graphs and other tools simultaneously.
Another great feature which definitely highlights MT5is the indicators which can be further divided into 4 different groups, namely Oscillators, Trend, Volumes and Bill Williams. With the help of these indicators and other indicators, the user is able to make use of the analytical tools easier and in a better way.
The trend indicators such as the including Double and Triple Exponential Moving Averages, Fractal Adaptive MA, Adaptive MA and Variable Index Dynamic Average are definitely very big additions. Other than these the new oscillators has also provided a cutting edge technology to the already present MT4.
The pre-made chart-in-chart style which is an addition to MT5 has definitely helped in improving the trading experience as it comes with an advanced trading script which helps in automatic trading, thus saving on loads of time.
Along with all the new additions MT5 has retained all the features of MT5 and has helped it improvise and brought it into the new platform.

Why is it in spite of so many advanced features MT5 is still lagging behind?

There are a number of reasons, why the new MT5 has not been a big success and has not yet been able to replace MT4.

In spite of Meta Trader 5 providing bigger buttons, which helps in easy navigation hasn’t yet been able to please the trader, this is because, it has considerable reduces the size of charting area, which is causing trouble in clearing portraying figures and numbers on the chart.
When traders are comparing the Fibonacci retracement tools with the MT4 they are not quite pleased with the MT5 performance.
Another major setback for MT5 is that it does not allow hedging and multi hedging which is one of the most expected features in any trading platform; therefore many traders are cross with MT5. However the manufacturers have argued that hedging and multi hedging is possible with the help of installing plugins, but it has still not been able to convince traders to use MT5 over MT4.
If you are short on RAM, then, unfortunately, you would not be able to download MT5 as it requires much more space in comparison to its previous counterpart. Since the program is thrice as heavier, therefore, it not only requires more memory to be downloaded but also much more time. This might not be possible with older systems and is, therefore, losing on the market share.
Another major setback is that since MT5 is not backward compatible therefore it is not possible to convert MT4 to MT5 and vice versa. Therefore the indicators of MT4 will not work with MT5.

The makers have taken the feedback positively and are now working on MT5 to make sure it is able to provide all the necessary actions which are expected by the trader.

at the workplace–stock image

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