MT4 is currently the most popular online foreign exchange trading platform software for foreign exchange traders,suitable for foreign exchange,CFD and futures markets.MT4 is a very useful foreign exchange and gold trading software.It has powerful graphic analysis functions,as well as many quotation servers.Different servers have different quotation varieties.You can choose a server with US dollar index,gold and crude oil.This software is the most,the most stable and the best software for foreign exchange traders in the world.There are web version,PC-side MT4,mobile-side MT4 and other downloads provided,which meet a variety of trading needs and are a relatively mature trading software.
How to use the MT4 trading platform software?
The easiest way to enter a trade in MetaTrader 4 is to use the Order window and place an instant order on the market.Select the desired currency pair by clicking on the Window tab at the top of the MT4 platform,then select New Window.Next,you can click New Order on the MT4 toolbar or press F9 to open the Order window.
The screenshot shown below shows the Order window for the EUR/USD currency pair.From this,you should be able to see how easy it is to buy and sell with MetaTrader 4.If you want to trade at market bid/ask prices,you need to enter the desired trade size(in lots)in the Volume box,then click Sell or Buy,and select Market Execution as the order type.
It is the Market Execution setting that enables you to place instant orders in MetaTrader 4.Of course,trading at market prices is not the only way to trade in MetaTrader 4.You can also choose from the Type drop-down menu to buy or sell by using a limit or stop order.This is a method of buying and selling on MetaTrader 4 at a specific desired level(not the current market price),rather than immediately executing at the current price.
MT4 vs MT5
If you want to invest and trade Forex,you need to have some understanding of the MetaTrader4 and MetaTrader5 platforms.Although MT4 and MT5 have their names implying that MT5 is an updated version of MT4,in reality the two trading platforms offer different functions and features and serve different trading audiences.Which one to choose depends on your personal situation and trading goals,among other factors.
What type of asset do you want to trade?
The biggest difference between MT4 and MT5 is the type of traders the platforms tend to attract.MT4 is designed for Forex traders and its features and functionality reflect this.Therefore,MT4 is the preferred trading software platform for traders who mainly focus on the foreign exchange market.MT5 has wider applications in contracts for difference(CFDs),stocks and futures trading.Therefore,it has a wider range of functions.If you trade multiple types of assets,it can provide better value for your trading goals.Although you can still use MT5 for Forex trading,the features and tools for analyzing Forex charts are not as robust,so you may sacrifice performance when using MT5 for this type of trading.
Do you need access to the FIX API?
The Financial Information Exchange(FIX)API is an essential tool for traders seeking real-time information related to financial securities.Both market regulators and traders use the FIX API to share important information before and after trades,as well as to confirm new orders and execute trades.
FIX API integration provides traders with many benefits.Best of all,traders have greater access to financial information when trading on platforms that offer FIX API integration,and the format of this information is standardized to simplify communication across any language barriers.The FIX API also makes it easy to build black-box strategies or proprietary algorithms to assist in Forex trading analysis.
If you want to use the FIX API,you need to use the MT4 trading platform.MT5 does not provide FIX API integration.
order execution mode
MT4 implements the fill-or-kill(FOK)mode principle that orders are either cancelled immediately or completely,and partial transactions are not allowed.If the next 500-lot bill is paid by a trader and only 400-lot order is sold in the market,the trader's bill will not be executed.
MT5 allows partial trading,assuming that one part of a trader's order is executed,and the other part that is not executed automatically forms a limit order or market order.
Which trading platform is better?
| Metatrade5 | Metatrade4 |
Partial Order Execution Policy | support | not support |
Order Execution Policy | Execute in full or cancel immediately | Execute in full or cancel immediately |
Pending order type | Buy Stop, Buy Limit, Sell Limit, Buy Limit, Stop Limit, Sell Stop | Buy Stop, Buy Limit, Sell Limit, Sell Stop |
market depth | have | without |
Technical indicators | 38 | 30 |
graphic object | 44 | 31 |
Time period | 21 cycles (default + personalization) | 9 cycles (default setting only) |
Economic Calendar | have | without |
Email system | Yes (with accessories) | without |
Built-in MQL5.community chat | have | without |
Programming language | MQL5 (incompatible with MQL4) | MQL4 (incompatible with MQL5) |
Trading straregy | Multi-thread + Multi-currency + Real-time quotes | single thread |
Hedging / Hedging | support | support |
support the market | Forex /Futures/Options/Stocks/Bonds | foreign exchange |
Many people have their own priorities,and it will not be easily changed because MT4 is more popular or MT5 is more powerful.At the same time,everyone also believes that MT5 is not an upgraded version of MT4,and there is a big difference between the two.They are actually different in many features and target market positioning,so comparing the pros and cons of the two platforms is not meaningful.
In general,MT4 can meet most of the trading needs of ordinary foreign exchange traders,while MT5 has more functions and is more suitable for advanced traders.In fact,when we apply a tool,don't covet more functions,just make the best use of everything.
Although MT4 has been launched for more than ten years,and MetaQuotes is also vigorously promoting MT5,MT4 is currently the most widely used and most popular among foreign exchange traders.From this aspect,it can also be shown that MT4 can meet most trading needs.If you are already very familiar with it,you can continue to use it.
If you trade a lot,need a lot of back-testing,or have a high level of trading,and want to trade stocks,foreign exchange,bonds and other investment products at the same time,you can choose MT5.
Most experienced traders say they just want the trading platform to be trustworthy,easy to use,intuitive and uninterrupted.
简体中文
ภาษาไทย
繁體中文
Indonesia
2022-03-10
1670
