It was released around the same time as MT5 in 2011. They support all three of the most popular charts - line, bar, and candlestick - and choosing from one chart type to another also takes similar steps.ĬTrader is also a trading software developed by Spotware company. Also, the two programs use different programming languages - MQL4 and MQL5 - that are used to develop various technical indicators, scripts, etc.Īs for the similarities, both MT4 and MT5 have almost exactly the same interface and both of them use Expert Advisors that enable traders to set up automated trades. For example, MT4 is a more simplistic and limited software that contains 9 timeframes to choose from, whereas MT5 has 21 timeframes. There are many differences, as well as similarities between the two versions. MT5 is a successor of MT4 released in 2010 but it doesn’t replace the older version as it is still popular among traders. MT4 is a well-known trading platform among traders because it has been around since 2005. The MetaTrader trading platform, containing MT4 and MT5, was developed by MetaQuotes. The most popular trading platforms in today’s Forex market are called MetaTrader 4, MetaTrader 5, and cTrader. In Forex, traders can buy and sell currency pairs using the software that has various tools and indicators integrated into it.
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