What are the Advantages of mt5 - page 2

[phi nuts]

gbemitte:

What are some advantages mt5 platform have over mt4 trading platform?

To me i think  hedging is disabled in mt5. why?

There are several brokers who take a different approach to enable hedging. For example some broker have two currencies for one. So instead EURUSD, they have - say EURUSDa and EURUSDb. If we buy EURUSDa, then we can hedge it by selling EURUSDb and vice versa. To close it, we do usual by open different position.

You can search for that broker in many forum such  http://www.forexpeacearmy.com/public/forex_broker_reviews and http://www.forexfactory.com/forumdisplay.php?f=74

[Moses Olawale Ajayi]

thanks very much. your comments really mean something to me and help me.

thanks

[phi nuts]

phi.nuts:

There are several brokers who take a different approach to enable hedging. For example some broker have two currencies for one. So instead EURUSD, they have - say EURUSDa and EURUSDb. If we buy EURUSDa, then we can hedge it by selling EURUSDb and vice versa. To close it, we do usual by open different position.

You can search for that broker in many forum such  http://www.forexpeacearmy.com/public/forex_broker_reviews and http://www.forexfactory.com/forumdisplay.php?f=74

Here for example https://www.mql5.com/en/forum/6318#comment_213122. Please read the whole thread and look closely at the name of EURUSD over there.

[Moses Olawale Ajayi]

Thanks ones again

[Aleksey Rodionov]

Hedging for me it does not matter, I am calm

[Moses Olawale Ajayi]

Zeleniy:
Hedging for me it does not matter, I am calm

You'requiet right buy all advantages and disadvantages of this mt5  platform should be made known to newbies.

[Nigel Martin]

gbemitte:

What are some advantages mt5 platform have over mt4 trading platform?

To me i think  hedging is disabled in mt5. why?

True, hedging in MT5 is not possible. As others have discussed, the non-hedging issue is a total of show stopper.

MT5 Pros
OOP Programing 

MT5 Cons
No Hedging
The whole deals and orders thing is just too clunky. I could not even (easily) see the entry and exit price of a trade in the account history tab.
This platform satifies the USA / NFA rules regarding no hedging. MetaQuotes need to realise there is a whole world outside of the USA.
I was under the impression that MetaTrader was a platform to trade Forex, now they are trying to please everyone with Multi-Markets. (not a wise move by MQ)

------

If / when MT4 is discontinued then i will just use TradeStation or other plaforms. I have deleted my demo / test versions of MT5 and will not bother looking back at it unless these issues are addressed.

There was a vote on Forex Factory asking "Do you use MT4 or MT5" and there were
26 votes for MT4 and 0 votes for MT5

I have to say that MT5 "appears" to be a slick platform, however for a professional forex trader there are too many drawbacks to make it viable.

If MT5 was a true upgrade from MT4, retaining the existing features then that would be great. I wont hold my breath for this to happen though.

TripleHeinz said above "but it's good to be NFA compliant" - All i can say is that i am in the UK and I dont care for the NFA. (There is a whole world outside the USA as i already mentioned)
When MT5 starts moving your order entry levels around when you have multiple pending / orders then you'l understand why its a nightmare platform and go back to TradeStation :) 

I hope MetaQuotes realise that MT4 is where there bread and butter comes from, where as MT5 is just costing them wasted time and money. 

Overall i am throughly disappointed with the whole MT5 debacle.
Debacle - noun "a complete collapse or failure."

/end of justified rant.

[Jinsong Zhang]

The best way by brokers is offer symbols_xx (e.g. from EURUSD_01 to EURUSD_99) so you can buy EURUSD_01 and EURUSD_02 and sell EURUSD_03 and EURUSD_04.

 For some broker, EURUSDB means EURUSDbid and EURUSDA means EURUSDask, see: https://fxtrade.oanda.com/community/forex-forum/topic/15009956/?page=1#post-9706833 

In topic https://www.mql5.com/en/forum/6318, maybe EURUSDL means EURUSDLite, i can't buy or sell it in demo account. 

[Gabor Torma]

nigelxx:

MT5 Pros
OOP Programing

Debuging
More Time Frames
Better and quicker backtest
News on chart

nigelxx:
MT5 Cons

No Hedging

You can use Virtual Order Manager

[Oyebimpe Adeola Ojetunde]

I agree wit all your coments ,nigelxx