Are you curious about the difference between MT4 and MT5, and wondering which platform suits your trading journey? The debate over MetaTrader 4 vs MetaTrader 5 is a popular topic among both new and experienced traders. These platforms are synonymous with online trading, but they’re not identical. In this guide, we’ll demystify their differences and explain why Deriv focuses its multi-asset offering around MT5, rather than MT4.
Why is MetaTrader so popular
You may wonder, why are the MetaTrader platforms so popular? Over the years, MetaTrader platforms have become the go-to choice for traders because they combine reliability, powerful trading tools, and a user-friendly interface. Both MT4 and MT5 are packed with features that support in-depth analysis, custom strategies, and automated trading, giving you flexibility whether you’re a beginner or a pro.
MetaTrader 4 (MT4): Core features
Launched in 2005, MT4 quickly became the backbone of the retail forex trading revolution. Its focus is largely on forex and CFDs, making it ideal for those interested in currency markets.
Key MT4 features:
- Access to 30 built-in indicators and 9 timeframes
- Highly customisable charts
- Support for automated trading via Expert Advisors (EAs)
- Secure and stable platform performance
Tools
MetaTrader 4 features a straightforward set of analytical tools, including a variety of technical indicators, graphical objects, and one-click trading functions. This makes it simple to track and analyse market trends efficiently.
User experience
MT4 is particularly user-friendly, with a calm interface that keeps things clear for new traders. Despite being nearly 20 years old, it remains an entry-level favourite due to its dependability and active community.
MetaTrader 5 (MT5): Core features
MT5 arrived in 2010 as a more advanced and versatile trading platform. It offers expanded capabilities suitable for today’s diversified trader.
Key MT5 features:
- 38 built-in indicators and 21 timeframes for better technical analysis
- Enhanced strategy tester and economic calendar
- Support for more markets, including stocks, commodities, indices, and cryptocurrencies
- Depth of Market (DOM) feature for advanced order management
- Greater control with additional order types
Expanded capabilities
The jump from MetaTrader 4 to MetaTrader 5 features is significant. MT5’s support for both hedging and netting systems, an in-built economic calendar, and more order options provides traders with greater control and analysis.
More assets and functionalities
Unlike MT4, which is mostly forex-focused, MetaTrader 5 allows you to trade CFDs on a vast range of assets — including shares, indices, commodities, and Deriv’s unique synthetic indices.
The difference between MT4 and MT5
MetaTrader 4 and MetaTrader 5, while similar, also have significant differences. Let’s compare their main features:
Trading experience
MT4 offers simplicity and is ideal for forex-focused strategies, while MT5 is suited to traders who value flexibility and access to more markets. If you’ve ever wondered “is MetaTrader 4 or 5 better?”, the answer depends on your needs. For multi-asset trading and advanced order capabilities under one roof, MT5 is the clear winner.
Why doesn’t Deriv offer MT4?
Many traders look for “Deriv MT4”, but only Deriv MT5 is available. Why? The answer lies in our commitment to giving you a cutting-edge, multi-asset experience. While MT4 was built for forex, Deriv MT5 opens the door to stocks, commodities, and unique assets such as synthetic indices. It also offers superior speed and more robust features, allowing us to meet the needs of modern traders.
Benefits of Deriv’s MT5 offering
- Trade forex, stocks, crypto, indices, and synthetic indices — all in one place
- Enjoy advanced charting, extra order types, and rapid execution
- Use EAs and custom indicators in a modern environment
- Exclusive access to synthetic indices, only on Deriv MT5
How to get started with MetaTrader 5 on Deriv
If you’re wondering how to start using MetaTrader 5 on Deriv, it’s easy. Follow these simple steps:
- Create a free Deriv account: Visit deriv.com and register your account.
- Create your Deriv MT5 account: After logging in to your Deriv account, go to your Trader’s Hub dashboard, and scroll down to the CFDs section. Choose the account type that is best suited for your trading interests and click “Get”
- Set up a password for your account: Choose a secure password that is 8 - 16 characters long and includes numbers and special characters.
- Open your MetaTrader 5: Click on the “Open” button next to your newly created account. You can then choose to open the MT5 platform on web, or download it on your device.
- Log in on Metatrader 5: Enter your Deriv MT5 credentials into the MT5 platform and start exploring the markets available on Deriv.
Whether you choose MT4 or MT5 depends on your trading priorities, but for flexibility, variety, and advanced features, MT5 stands head and shoulders above. At Deriv, you gain access to a multi-asset platform designed for the future of trading and loaded with exclusive opportunities like synthetic indices.
Ready to experience multi-asset trading with advanced features? Create your Deriv account and get started on MT5 today!
Quiz
Which is an exclusive feature of MT5 on Deriv (compared to MT4)?
FAQs
Trade with confidence
