Terminals created by MetaQuotes Software are used by the majority of traders who work on the international Forex market. There are various scripts of this kind, but MetaTrader is ahead of them all. The latter acts as the most comfortable device that offers the speculator various devices for convenient and profitable trading. Initially, specialists developed MT4, and later MetaTrader 5 emerged. Many dealing centres have two terminals at once, which can be used by their client base.
The main advantages of MetaTrader 5
- Scalability – the possibility of connecting an unlimited number of accounts. It follows that a brokerage company is freed from the need to purchase auxiliary servers when its audience of traders exceeds a specific limit. Only the purchase of additional modules is required, which significantly saves both time and money expenses.
- Functionality – the quote glass and one-click trading are the two main functional advantages of MetaTrader 5 over the previous modification. In addition, simplicity and intuitiveness attract newcomers who have not yet had time to get attached to another terminal.
- Multiactivity – focus on trading a wide arsenal of financial instruments, including securities, futures and options contracts from a single account. This provides traders with auxiliary hedging capabilities and increases the list of available investment tactics.
- Transaction accounting mechanism – initially, the MetaTrader 5 platform was developed for professional stock trading with netting accounting of commercial transactions. But over time, the authors introduced a hedging algorithm, thus eliminating the last obstacle that stopped many players and dealers from switching to a new terminal.
- Variety of order execution options – Instant/Market/Request/Exchange Execution can be used during trading.
- Expanded opportunities for placing pending orders – while in MetaTrader 4 you can choose one of four types of pending orders, in the MetaTrader 5 trading platform there are six available variations (Buy/Sell Stop Limit orders have been introduced).
- Increased range of time periods – twenty-one intervals versus nine in MT4. In the parameters of the toolbar you can select the intervals required by the speculator to resolve trading tasks. The chance to use an impressive number of timeframes allows the trader to improve the quality of market research and trading.
- Presence of a set of determiners for installation on the graphical area – unlike MT4, the helpers can be superimposed on each other.
- Presence of an improved MetaEditor – even a player who has little knowledge of programming can interact with the latter.
The main disadvantages of the programme
First of all, it should be said about the incompatibility of MetaTrader 4 identifiers and robots with MT5 terminal. This creates some discomfort for speculators, whose strategy provides for the use of such tools of study and trading. In this programme you cannot lock trading positions, which many traders do to limit losses. It also summarises operations if they were started for one asset. For example, if an order for EUR/USD currency ratio of one lot was initiated, and after some period another order for this combination was opened with the size of one lot, but at a different value, then MT5 changes the priority request. As a result, an order with the size of two lots and an average start value appears.
It is up to the trader to decide whether to use MetaTrader 4 or 5 for trading. Despite the fact that the first script has not yet exhausted its potential, it is already at the end of its life. Judging by MetaTrader 5 reviews, the new generation of players mainly works with the analysed device, which is designed to meet the new trends in financial marketplaces. Hence, it follows that MetaTrader 5 will consistently drive out its predecessor, which has already stopped in its improvement.
