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Why Most Brokers Still Using MT4

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Irwan Adnan
930
Irwan Adnan  

1. Why most brokers are still using MT4 instead of MT5. Why dont they make an option so traders can choose what platform they will use. 

2. Can  same quotes from a server  be used for 2 or more platforms?

Alain Verleyen
Moderator
33816
Alain Verleyen  
belido:

1. Why most brokers are still using MT4 instead of MT5. Why dont they make an option so traders can choose what platform they will use. 

2. Can  same quotes from a server  be used for 2 or more platforms?

Better to ask to brokers.
Irwan Adnan
930
Irwan Adnan  
angevoyageur:
Better to ask to brokers.

angevoyageur, thanks for your answer. Offcourse we better to ask to brokers for precise answer and each broker has their own reasons. But since this is a forum I want to discuss here. So here I guess the reasons :

  1. The price of MT5 is much higher than MT4.
  2. MT5 is more complicated  
  3. Metaquotes team does not encourage brokers to use MT5.
  4. Brokers afraid of using MT5 because they can not cheat in MT5. (of using virtual plugin etc).
  5. Traders are more comfortable with MT4 so brokers dont want traders leave them.
Just an assumption ... 

Tan Phan Ngoc
1327
Tan Phan Ngoc  
belido:

angevoyageur, thanks for your answer. Offcourse we better to ask to brokers for precise answer and each broker has their own reasons. But since this is a forum I want to discuss here. So here I guess the reasons :

  1. The price of MT5 is much higher than MT4.
  2. MT5 is more complicated  
  3. Metaquotes team does not encourage brokers to use MT5.
  4. Brokers afraid of using MT5 because they can not cheat in MT5. (of using virtual plugin etc).
  5. Traders are more comfortable with MT4 so brokers dont want traders leave them.
Just an assumption ... 

Best profit signal from MT4.
enbo lu
Moderator
1958
enbo lu  
MT5 doesn't allow hedging which can increase trade volum by some kind of strategy in MT4 .
A lot of traders like hedging.
And most brokers develop customer by agents who make money through commssion .
The larger the trade volum is ,the more money they earn.
Just my opinion~
Jonathan Farrell
22
Jonathan Farrell  
belido:

1. Why most brokers are still using MT4 instead of MT5. Why dont they make an option so traders can choose what platform they will use. 

2. Can  same quotes from a server  be used for 2 or more platforms?

Hi Belido,

1. Most brokers are still using MT4 instead of MT5 as much of the volume generated from MT4 is done via Expert Advisers. Although MetaQuotes have released a converter to change mql4 code to mql5 code, it doesn't always work. There are much more functions and depth in mql5 which makes it increasingly harder for custom EAs to be 'upgraded' to MT5. For this reason MT5 has never really taken off. As more EAs are developed for MT5 the number of accounts opened on MT5 is likely to increase. 

Within the general trading community this is a perception that there is virtually no difference between MT4 and MT5. The advantages of MT5 over MT4 are not perceived as being great enough to justify the investment into establishing a large MT5 client base. I've got hands on experience of both MT4 and MT5 administration and it is very true that MT5 is much harder to administrate. All the added flexibility is matched by the increased complexity.

 

 2. The sharing of Quotes between platforms is very possible especially when the quotes are being broadcast in compliance with a recognized standard, eg. FIX. This sharing of quotes can be seen with the MT4 to Integral bridge and the Integral FX Inside Platform. The same quote engine can broadcast the quotes to both platforms seamlessly.

Imtiaz Ahmed
8014
Imtiaz Ahmed  
in MT4 you can open and close many position in same direction or diffrent and can close one by one.  MT5 doesnt have that option all single pair postion combined in 1 :(((
Irwan Adnan
930
Irwan Adnan  
jfarrell:

Hi Belido,

1. Most brokers are still using MT4 instead of MT5 as much of the volume generated from MT4 is done via Expert Advisers. Although MetaQuotes have released a converter to change mql4 code to mql5 code, it doesn't always work. There are much more functions and depth in mql5 which makes it increasingly harder for custom EAs to be 'upgraded' to MT5. For this reason MT5 has never really taken off. As more EAs are developed for MT5 the number of accounts opened on MT5 is likely to increase. 

Within the general trading community this is a perception that there is virtually no difference between MT4 and MT5. The advantages of MT5 over MT4 are not perceived as being great enough to justify the investment into establishing a large MT5 client base. I've got hands on experience of both MT4 and MT5 administration and it is very true that MT5 is much harder to administrate. All the added flexibility is matched by the increased complexity.

 

 2. The sharing of Quotes between platforms is very possible especially when the quotes are being broadcast in compliance with a recognized standard, eg. FIX. This sharing of quotes can be seen with the MT4 to Integral bridge and the Integral FX Inside Platform. The same quote engine can broadcast the quotes to both platforms seamlessly.

1. Yes, MT5 is more complex than MT4. I think they developed MT5 not for replacing MT4. Now MT4 is developed to resembles MT5. 

2. I found that same broker have different quote server for each MT5 and MT4. 

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