Even the most skilled of traders require a tool that will help channel their techniques and reel in the expected results. This is what Forex trading platforms are for. With a trading platform, you get to employ a number of tools that let you analyze trades, speculate for potentially profitable trends and enter the ones you find best. In Forex trading markets, you can choose from a variety of such platforms, each designed to cater to different needs.
Though today we have a number of platforms at our disposal, MT4 and MT5 are the most prominent of trading accounts. Known for their versatility and simplicity in functioning, these platforms provide traders with a convenient experience while Forex trading in Thailand. However, 2 platforms can't be employed simultaneously! Try a Forex demo account here for free.
Let's find out which one's the better platform between these two.
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| MT4 Vs MT5 Forex Trading Platforms Comparison |
MetaTrader 4:
Prior to the introduction of MT5, MT4 was the industrial standard for a Forex trading platform. Used far and wide, this is the primary choice for many traders today. While it certainly provides the much-needed tools for trading, it does hold a few advantages over MT5.
- Expert Advisors that support the native MetaQuote language.
- Takes up relatively lesser space, allowing you to easily accommodate this on smartphones.
- Equipped with a variety of strategies.
- Easily usable by novice traders.
MetaTrader 5:
The more recent version, this platform was released in 2010 and houses some major changes. While many consider it to be a better version of MT4, it is just a different trading account with its own set of advantages.
- Houses a number of chart timeframes. This includes 11 types of minute charts, 7 hourly charts and a number of daily, weekly and yearly charts.
- Unlike the MT4, the MT5 can manage 2 stops and 6 pending orders simultaneously.
- Has a new and better MetaQuotes Language for programming Expert Advisors.
- Comes with an economic calendar that provides all kinds of data ranging from market information to release schedules.
- Comes with more technical indicators than its counterpart.
To succeed at Forex trading in Thailand, you will need to master the usage of a trading platform. Both of these are beneficial in their own way, and it ultimately comes down to how you adeptly employ them! At WesternFX, we have an arsenal of trading platforms for you to choose from. With our experts ever-present to guide you, you can dominate trades! Reach out to us today and get a stellar trading account in Thailand. Victory is just a call away!
In my opinion, MT4 is still the best solution just because there are dozens of additional indicators, tools and extensions created by enthusiasts specailly for this version. Of cours, newer version also has particular advantages, but as I`ve just found from another comparison like this it doesn`t support all stuff created for MT4. The explanation was something like the compatibility issue due to the difference in programming languages used in MT4 and MT5 (I`m not a specialist, so I may be wrong, the source is here: https://thinkmobiles.com/blog/mt4vsmt5. So, the traders would have either to continue using MT4 or to switch to MT5 but also forget about all these tools. At the same time, this transition period would be shorter if brokers wouldsuspend the provision of older version or there would be a way to deal with the compatibility issue.
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