In 2005, the MetaTrader4 platform literally blew up the world of financial trading. Nearly 11 years passed, but it continues to be very popular: about 80% of traders and brokers choose MT4 as their preferred trading platform. In 2010, when MetaQuotes released MetaTrader5, another innovative product, the forex community divided into two irreconcilable camps: MT4 fans and adherents of new technologies.
Although the "Fifth version of Metatrader" has a hard time conquering the market, a number of advantages and new features make it attractive for many traders, and primarily to the so-called millennials, a growing number of young and technology-thirst traders.
Thus, brokers have to face a reasonable question, what to choose: a reliable and time-tested MT4, or modern and functional MT5?
Take a quick look at the specific benefits of the newer version of MetaTrader to help you make your informed choice.
1. Scalability. Perhaps it is not a well-known fact, but there is a limitation on the number of active accounts in MT4. This means that once the number of your traders passes a certain threshold, you have to buy a new server, and then another, and another, and another. For that matter life is easier with MT5. This is a truly scalable platform that allows you to connect an unlimited number of accounts, by purchasing only additional modules. It helps save both money and time.
2. Functionality. The undoubted advantage of MT5 is a "market depth" and one-click trading functionality. Simple, intuitive, highly practical and friendly - that is how most of the traders describe their experience with the MT5. A wide range of analytical functions is also worth noting: the variety of professional tools for technical and fundamental analysis, macroeconomic calendar and a news feed will satisfy even the most sophisticated traders.
3. Integration. MetaTrader5 creates the perfect conditions for those who want to trade in a wide range of assets, including stocks, futures, options, and many other financial instruments from a single account. MT5 is integrated with the major trading venues all over the world. It significantly expands the investment horizons of the trader and increases a potential target audience of a broker.
4. Position accounting system.Originally MT5 was designed for professional trading within the netting position accounting system. However, MetaQuotes added the hedging position accounting system within one of the latest major updates of the platform and thus removed the last barrier that stopped many traders and brokers from moving to the new platform.
5. Potential. MT5 has a huge potential for development. Moreover, MetaQuotes recently announced that it places its stake on this platform and plans to gradually phase MT4 out.
Many forex broker startups prefer not to take risks and choose MetaTrader4 as the most popular platform among traders. This decision is understandable, but, alas, short-sighted. Surely, MT4 has not yet exhausted its potential, however, taking into consideration all the above, we can unequivocally say that the future belongs to MT5.
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