Software is used to connect a brokers system to trading platforms. If this software is slow or malfunctions then it can badly impact the trade activities. Common trading platform is Meta Trader 4, which is simple.
Advantages of MT4
- EA is designed using native MQL language
- All kinds of trading methods like LIFO and hedging (limitation due to your region and broker)
- Less memory space is needed in comparison to MT5
- Till day retail traders and brokers prefer this platform, which indicates large support community
Vortex Assets is developed using MT4 platform, which is available in Russian and English language. Today, MT5 is the advanced version released in 2010. Improvements in this version include –
- 6 pending orders, and 2 stop orders
- Extra chart time frames
- More market commodities
- In-built economic calendar with options like level of impact, release schedules, market consensus, and past data
- Extra technical indicators including 46 graphical & 22 analytical objects
- Integrated MQL tab for EAs
- Enhanced strategy tester for remote optimization
Difference between MT4 and MT5
- MT5 version was intended to perform functions that MT4 could not. The former was designed to trade other markets besides Forex.
- MT4 logs and manages each trade separately, whereas MT5 aggregate all the positions, automatically.
- MT5 uses MQL5 language and MT4 employs MQL4. MLQ5 framework is easy to program for users of trading robots and expert advisors.
- MT5 can speed back testing process immeasurably in comparison to MT4.
- MT4 has 9 timeframes and MT5 has 21 along with unlimited charts. You can open 100 charts, at a time.
Which is better?
The choice between MT4 and MT5 trading platform is personal preference. Vortex Assets provides perks like learning materials, which helps traders to learn Forex trading strategies. Moreover, you get to select from 52 currency pairs, 120 worldwide indices, 12 stocks, and different commodities.
If you desire to do a lot of back testing or desire to access stock and exchanges, which cannot be reached through MT4 then MT5 is a good choice. However, there is no reason to deny the use of MT4. It remains a proven platform and is far popular than advanced MetaTrader 5. Traders are used to it and not ready to switch.
Several seasoned traders want a trading platform that is easy to use, intuitive, and reliable as well as does not crash. Some may even say that MT4 works well and simultaneously lets them stay ahead of their charts and trades but there are a few annoying features.
Several experienced Forex traders find the advanced MT5 trading platform a little complex. Investors interested in hedging and scalping are not interested in using MT5.The actual fact is that trader’s habit plays a vital role in popularity of trading platforms.
Vortex Assets based on MT4 has provided traders ease of trading with no downsides, so they hardly dream about switching. In addition, MT4 was designed five years before MT5. It is established as a standard trading platform and so brokers prefer it a lot.