Difference between MT4 and MT5
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MT4 was primarily designed for trading forex (foreign exchange) markets. It supports trading in currency pairs, commodities, and CFDs (Contract for Difference) on various assets. MT5, on the other hand, was designed to be more versatile and supports trading in additional asset classes, including stocks, stock indices, commodities, cryptocurrencies, and more.
For less experienced Forex traders, MT4 is more simpler. However, it has fewer capabilities than MT5 and only handles CFDs and currency products. More technical indicators, periods, and images are included in MT5, along with updates like an economic calendar.
MT5 is more suitable than MT4 because of its multiple trading strategies.
MT4 is the old version while the MT5 is new with wider functionality.
MT4 is newer forex trader while MT5 is greater volume of technical indicators
MT4 is an older platform primarily for forex trading with hedging, while MT5 is a newer version supporting various markets, multiple trading strategies (hedging and netting), and more advanced technical analysis tools. MT5's broader functionality makes it suitable for a wider range of trading instruments and strategies.