cTrader vs MetaTrader 4: Which platform to choose?

Risk Warning – CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. M4Markets does not offer its services to residents of certain jurisdictions such as USA, Canada, Cuba, Sudan, Syria and North Korea. The world’s original online trading platform, millions of traders choose MT4 as the gold-standard for simplicity and ease-of-use.

Built-in programming language on both platforms enables traders to write trading programs and develop custom-made management tools and trading signals. This service also allows you to copy trades of other traders, and provides you with various Expert Advisors. Back-testing capabilities are upgraded on the latest version, as MT5 lets you look at multiple currencies using live prices.

MT4 or MT5 Which Trading Platform is Better for You?

Even if you are new, you might have at least heard the names of these platforms. The MetaTredar5 platform can deal with six different types of pending orders. In addition to the orders available in the MT4 platform, there are order types, which are “buy stop limit, sell stop limit” and orders are not archived. In contrast, the much younger cTrader from Spotware is a dynamic platform, whose creators claim that every further update is built upon the feedback from cTrader users. Thus, it is a modern, nimble and intuitive platform that will appeal especially to all new traders who have not had time to get used to the much-loved MetaTrader4. Now, unlike MetaTrader programs that use their own specific language, cTrader is based on a commonly-used C# language.

• Plus we also boast over 10 years of industry experience and we have a presence in over 150 countries.
• This is one of the primary reasons why so many people are attracted to Forex, and more and more people have started to enter the Forex trading market.
• If you are a beginner trader who only wants exposure in the forex market, MT4 is the right pick for you.
• In terms of drawing tools, MT5 offers 44 graphical objects, including geometric shapes, channels, Gann, Fibonacci, and Elliott tools, and more.
• Now, unlike MetaTrader programs that use their own specific language, cTrader is based on a commonly-used C# language.

Get familiar with the signals, their providers, and strategies. You can find signals in the “Terminal” window by clicking on the “Signals” tab. I won’t here focus on how to choose the right signals provider in MT4.

What is the difference between MT4 and MT5?

The new MT5 version is a powerful software with superior tools for stock trading and related order management processes. On the other hand, the MT4 platform has more powerful features and tools that can be used for forex trading. The little difference between MT4 and MT5 makes MT5 a stronger and more efficient software altogether.

Both mailing systems allow traders to send and receive messages as well as view sent and received messages. However, MT5 provides additional features, such as creating message templates and categorizing messages into different folders. This makes it easier for traders to manage whats the difference between mt4 and mt5 communication and keep track of important messages. Let’s explore some key features exclusive to the MT5 trading platform. Founded in 2000, MetaQuotes Software Corp. has cemented its position as one of the leading software developers for brokerages, banks, and exchanges.

MBRSC & AtlanticProds launch Rashid Rover: Moon Mission AR experience

We have summarised these functional differences in the table at the end of this section. Yes, both MT4 and MT5 are completely free to download and use. The MT5 can appear to be a more complex platform for beginners.

The trader can agree to the offered price or reject the order. When a trader sends a request to a broker to open an order, the platform automatically inserts the current price into the order. If the price is not accepted, the order is returned with a new price; this is called a requote. There are some differences in the main menu, but the most frequently used functions remained the same. Like in MT4, you can open “Market watch” or ‘Navigator’ windows in MT5.

Financial News

A Demo account is the best way for every beginner to check out the MT4 or MT5 platform and test the trading tools. There really isn’t much to separate the two mobile trading apps – as both allow you to enter positions, check the progress of your forex EA, and perform research. In fact, you simply need to log in with your MT4/5 credentials via the app and your account particulars will be readily available. This gives you the best chance possible of avoiding slippage and entering the market on your own terms. Our MT4 vs MT5 comparison found that both platforms offer several execution types. Although you will be placing your orders through a third-party platform – both MT4 and MT5 will execute your positions in real-time.

First, its backtesting functions allow you to test programmed trading strategies and operate significantly faster. Both MT4 and MT5 are available to traders for free, with https://xcritical.com/ no monthly subscription or usage fees. However, brokers may charge a fee for using the platform or provide it for free to their clients as part of their trading services.

demo account

Whether MetaTrader 4 is better than MetaTrader 5 depends on the user of the platform. Some people prefer simplicity and easy-to-use tools in MT4, and some people like the complex nature of MT5. Types of pending orders requesting a broker to buy or to sell a financial security under pre-defined conditions in the future.

Available trading instruments

MetaTrader 5 is a multi-asset trading platform that enables you to trade stocks, forex and futures. It offers advanced tools for price analysis, algorithmic trading , and copy trading. MetaTrader 4 is an online trading platform preferred by forex traders. You can also trade commodities and index instruments through a Contract for Difference . With MT4, you view real-time currency prices, perform technical or fundamental analysis, automate trades through custom algorithms, and open or adjust orders.