MT4 or MT5 ?
Which platform is best suited for beginners or new traders entering into forex for the first time?
Any responses that you get will be based on the person's opinion.
It is my personal opinion that MT4 is far more suited to beginners than MT5.
MT4 is much simpler and user-friendly for new users to get to grips with.
Totally agree with Keith.
Anyway, you have to consider that MT4 is stopped to be updated and mantained from Metaquotes since a long time.
So, if you are a beginner and you have 0 knowledge, it's probably better to start with MT5, you will have a little bit of more difficulties but you will not study on an obsolete platform.
MT4 is easier and simpler to use, but it's no longer being developed. If you are a beginner then it will be best to learn MT5 (and MQL5), especially going forward.
Which platform is best suited for beginners or new traders entering into forex for the first time?
If starting out go with MT5 straight off, it is the better platform.
MT4 only still exists because it's legacy user base and is not being updated.
If starting out go with MT5 straight off, it is the better platform.
MT4 only still exists because it's legacy user base and is not being updated.
I disagree on both points.
In my opinion MT5 is not a better platform (especially for new users). In my opinion it is way too overcomplicated, especially the tester.
It is quite obvious from forum posts that there are new MT4 users all the time (despite Metaquotes shabby practice of tricking people to download MT5 when they try to download MT4). So its legacy user base is not the only reason that MT4 refuses to die.
I disagree on both points.
In my opinion MT5 is not a better platform (especially for new users). In my opinion it is way too overcomplicated, especially the tester.
It is quite obvious from forum posts that there are new MT4 users all the time (despite Metaquotes shabby practice of tricking people to download MT5 when they try to download MT4). So its legacy user base is not the only reason that MT4 refuses to d
Like you said the OP will get each persons opinion :)
I find it incredible that Metaquotes have not yet forced the brokers to switch to MT5 but surely at some point they will.
Like you said the OP will get each persons opinion :)
I find it incredible that Metaquotes have not yet forced the brokers to switch to MT5 but surely at some point they will.
I don't find it incredible.
A business needs to keep its customers happy and trying to force your customers to buy a certain product is probably not the best way to keep them happy.
Legitimate brokers, in turn strive to keep their customers happy and if their customers want MT4, then that's what the broker wants to give them.
If MT4 was suddenly withdrawn, there is no guarantee that MT4 users will automatically switch to MT5. The brokers' customers may want to switch to a platform that the broker does not offer.
The brokers know this and Metaquotes knows this so I can't see Metaquotes suddenly dropping a large proportion of end users.
If you are only looking to trade with currencies, I suggest using the MT4 since it is suitable for currency trading with its technical and fundamental analysis.
For CFD and advanced trading methods, the MT5 is good because it is the advanced version of the MT5 and has more trading tools than the MT5.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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