Andreas Kapsos shared his expert opinion with Finance Magnates regarding MetaQuotes’ recent announcement about the MT5 platform becoming more popular among forex brokers than the MT4.
MT5 Is Superior, No Doubt in That
It is obvious that MT5 and its features are designed to facilitate multi-asset trading. The platform supports more financial instruments (such as Forex, CFD products,s futures, options, stocks, and bonds).
It also provides traders and brokers with more options. The MT5 platform includes additional features for a deeper understanding and analysis of price charts, as it features 38 built-in indicators and 21 timeframes. Also, it allows additional order execution conditions, one open position of a financial instrument only (netting), and views on the economic calendar which effectively enables you to monitor macroeconomic news that can affect instruments and prices.
Apart from offering more advanced trading functions, the MT5 platform provides built-in advanced reports, which help track initial and final deposit values. That allows traders to better understand trends. MT5 is capable of processing different financial instruments with a wide range of trading activities. Without question, the MT5 platform has more functionality and trading tools compared to the MT4 platform.
Data Shows MT4’s Dominance among traders
Yes, currently MT4 is still popular among both old school and new traders; however, we believe that traders will move from it in the near future.
The MT5 client interface is very similar to MT4, and it comes with additional features. We strongly believe clients will slowly shift to a new platform and take advantage of all its features. The solution allows attracting traders by offering access to a multi-asset platform. MT4, on the other hand, offers limited access to execute forex trades, CFDs, and crypto. As a result, the MT5 covers a broader audience of traders.
MT5 Will Replace MT4, but Slowly
When MT5 will replace MT4? It is hard to say, but we expect it to happen sooner rather than later. The shift seems logical since MT5 was designed to facilitate multi-asset trading, and better serve both traders and brokers. MetaQuotes has been a leader in the industry for many years. Its trading platform is constantly evolving and becoming more powerful.