These are the main differences between MetaTrader 4 and MetaTrader 5.
Timeframes
MT4 has 9 time frames while MT5 has 21 time frames which include 11 types of minute charts, 7 types of hourly charts and daily, weekly & yearly time frames, which allows room for more analysis of the market.
Pending orders
MT4 offers 4 types of pending orders, whereas MT5 offers 6 types.
- Buy Limit (MT4/MT5)
- Buy Stop (MT4/MT5)
- Sell Limit (MT4/MT5)
- Sell Stop (MT4/MT5)
- Buy Stop Limit (Only MT5)
- Sell Stop Limit (Only MT5)
Hedging
Both MT4 and MT5 allow hedging.
Depth of market (only MT5)
The Depth of Market displays bids and asks for a particular instrument at the current best prices (closest to the market).
Commission
- MT4 => Roundtrip (100% applied at the entry)
- MT5 => 50% applied at the entry and 50% at the exit
Would you like to know more?