[Omar_Rahl_4421]

Which platform is best for day trading: MT4 or MT5? I’m new to both.

My understanding is MT5 is newer, faster and has more power under the bonnet yet MT4 still seems to be the most used.

Has anyone here used both and can tell me which one they’d recommend?

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[Christian Harris]

As you said, MT5 is newer and more functional (enhanced analytics tools), so I recommend you opt for that one.

However, some brokers only offer MT4.

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[Morty]

Having spent countless hours on both I’d pick MT5 all day. It has more timeframes suitable for intraday trading, think M2, M3 and M4, whereas MT4 has M1 then M5. You won’t find Depth of Market on MT4 either. The other thing for me is it’s faster with 64 bit and multi threaded, whereas MT4 has 32 bit and single threaded.

I don’t really know why anyone would opt for MT4 these days…

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[Diamond Dozen]

If you are used to MT4 then switching to MT5 is arguably not worth it. Migrating custom indicators and scripts to MT5 isn’t that straightforward and lots of traders don’t need the extra tools MT5 has.

Basically, the age-old saying applies – ‘if it ain’t broke why fix it’.

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[Morty]

Yeah I get that but if you’re new to both and want to use one, MT5 is the obvious pick I’m saying

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[Rafe]

Give me MT5 all day long. It’s far away and the best platform I’ve used for day trading.

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[Daniel C]

I use MetaTrader 4 still. It’s what I started with donkeys ago and have always found it pretty reliable so never felt the need to change.

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[Ronnie]

I’m with you Daniel because MT4 was the first platform I was introduced to and I simply haven’t felt the need to change. Its charting package is plenty comprehensive enough for most traders and I’ve not experienced any performance issues.

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[ChartWhizz]

MetaTrader 5 is superior in pretty much every aspect. I don’t get why every broker still offers MetaTrader 4, especially in place of its upgrade. Baffling.

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[Diamond Dozen]

It’s expensive to integrate a new platform. You need to pay for training, support, infrastructure etc. With so many traders still using MT4 the benefits of switching to MT5 aren’t so clear cut. Lots of brokers do offer both these days though.

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[ChartWhizz]

I can see that to be fair. Maybe things will change over time then as more people start with MT5 and then brokers follow demand.

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[DT38]

Because MT4 is more widely used it comes with a much larger community and resources if you get stuck or need support with something.

Take EAs as an example, I’ve found way more tutorials on building and optimizing EAs in MQL4 and loads more custom indicators, some of which don’t integrate with MT5.

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[Larry569ua]

I was a MetaTrader user until 2022 but after it got delisted from the App Store I moved to cTrader, which is now my preferred platform. Yes it still has a retro vibe compared to TradingView but I find its layout more user friendly and customizable than MT4 or MT5. Because you can save templates in the cloud it’s also convenient to use across various devices.

In short, I recommend skipping MT4 and MT5 and giving cTrader a try!

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[Christian Harris]

100% agree…

The only issue is that not all brokers support cTrader.

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[James Barra]

For those that do want to try cTrader, here is our pick of the top cTrader brokers.

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[Alfora]

Same for me. cTrader is where I like to actually trade these days. Market depth, cAlgo and reliable execution.

I WAY prefer the look, feel and navigation of cTrader. With MetaTrader, it feels like I’ve travelled back in time to the stone ages and I’m carving charts onto a wall with a crumbling stick.

In my experience cTrader is also more commonly found at ECN providers.

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[Scalping Cable]

MT4 if you trade forex and want to easily be able to switch between trading providers because pretty much every firm I’ve seen has it.

MT5 if you want more indicators, graphical objects, and faster back testing. Personally I don’t like the design of MT5 but that’s just me.

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[Alexey]

MetaTrader 4 is better and most importantly more reliable! Version 5 is better in that there is the possibility of multi-currency tests! Most real traders choose version 4, because most of the advisors are created for version 4!

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[Sam Grey]

It’s MT5 all day and night for me. This post should be a poll so we can see the total count for each option!

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[Aaron S]

MT5 has never let me down (yet at least). It gets my vote.

Where’s this poll at then? Who’s counting up the votes?

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[Dicky]

TradingView is in every way superior to MT4/5 in my personal opinion. It does almost everything the Metaquotes software can do in a much more user friendly workspace.

Yeah if you want EAs crack on with Metatrader but if not join the TradingView party. It’s not even tied to specific brokers.

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[James Barra]

For traders interested in the TradingView platform, check out DayTrading.com’s pick of the best trading providers integrating TradingView.

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[TakeProfitPaul]

Honestly, I don’t get why anyone would go for MT4 when MT5 does everything MT4 does but with way more horsepower. It uses 64-bit architecture so it can handle more complex tasks than MT4’s 32-bit system.

Omar, if you’re new to these platforms, skip MT4 and dive right into MT5. I’ve logged endless hours on it over the years—it’s quick, smooth, and practically every solid broker backs it now.

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[Swissie]

Chipping in here…I’ve always traded FX so Mt4 is my daddy. Fast, reliable and does what it says on the tin. No complaints from me.

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[Irlo-hazz]

Hi all, have any of you experienced Mt4 users got a guide or how to type document that explains how to get started with the platform?

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[James Barra]

Hi Irlo-hazz,

Head to ‘Getting Started with MT4’ in DayTrading.com’s MT4 tutorial and best brokers. You’ll find out how to set up the platform, customize it, and get the most out of its tools and features.

Let us know if you get stuck.

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[Irlo-hazz]

THis is the kind of thing I was looking for, managed  to get set up with it yesterday. Lots of learning still to do and I don’t think the current workspace works but good to get going an start making trades. Thanks

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