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Why MT5 is Taking Over MT4 in 2022 

It seems that the recent talk of MT5 replacing MT4 has become an object for many traders’ conversations.

Developed in 2010, MT5 is one of the most up-to-date, powerful and versatile trading platforms. It contains many features which are not available on MT4 and operates as an independent product. With its multi-functionality and a few other reasons, this trading platform is taking over MT4 with time.

The competition between MT4 and MT5

Since the creation of the MT5 trading platform, there has been strong competition between it and its predecessor. At first, almost no one wanted to transfer from MT4 to a new platform. The main reason was that traders are just used to the MT4 interface and didn’t want changes. But over time, this has changed and now more and more users are switching to the side of MT5.

When comparing these two platforms, many experienced traders prefer the latter. Over time, many of them come to a conclusion that Metatrader 5 is taking over Metatrader 4 with great pace.

We have identified 5 reasons why Metatrader 5 will replace Metatrader 4 in 2022.

  1. MT5 has access to a large number of financial markets – MT4 is designed for Forex traders and trades exclusively in currency pairs on the platform. While traders on Metatrader 5 have the opportunity to diversify their trading activities: unlike it’s representative, this trading platform has access to different financial markets. If traders wish, they can trade with cryptocurrency, stocks and futures on the platform.
  2. More opportunities for technical analysis – Although there are enough tools on the MT4 platform, MT5 is more rich in this plane. It offered an unlimited number of cards, an economic calendar, and various indicators that are especially important for technical analysis.

Let’s focus on the economic calendar now, as this is one of the main advantages of Metatrader 5, while comparing with its competitor.

The MT5 platform has an economic calendar that allows traders to stay up-to-date with all of the latest events in their respective markets. This helps them plan ahead and execute trades more quickly because they know what is happening around them, so nothing can surprise anyone.

Usually users of the MT4 platform use the Forex calendar for this, but they are not built into the platform as they are on MT5.

  1. Availability of faster programming language – Based on C++ program, MQL5 is much faster and more powerful than MQL4 programming language.With this additional power in their arsenal of tools they can create trading robots that are efficient leading many financial markets into transaction several times quicker than before when using an older version.
  2. Security – MT4 was once the leading traded product, but MT5 has taken over with time. The two trading platforms have almost identical security features which is why traders don’t see much of a difference between them when it comes to protecting their funds or accessing information on trades in real time.The MT5 puts MT4 on the background, because it is more modern than its predecessor.
  3. Race for new opportunities – Summarized above, as the fifth reason, we note the constant need of a person for the best. Even if MT5 was designed for a different purpose and is not an update to MT4, its wide functionality and its power still give people reason to consider it as such. Become experienced traders and need an “upgrade” and new opportunities traders move to a new trading platform without any hesitation.
Conclusion

Despite its popularity, MT4 is gradually being replaced by the MT5 trading platform. With each passing day, significantly more and more traders give the advantage to more modern and multifunctional products, which is the Metatrader 5. And the article introduced the main 5 reasons why this trading platform will finally take over MT4 soon.

 

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Majira Media

Keeping you in the loop. I write to share information that matter. From technology to business tips, I share information to inspire and educate