You've most certainly learned of the MetaTrader 4 and MetaTrader 5 platforms as a trader, but you do not appreciate the distinction. There are so many various platforms accessible for forex and other trading styles that it is hard to know them all. MT4 and MT5 are prevalent platforms worth having to understand and appreciate, as when used correctly, they can be rather beneficial.
Only look at the MetaTrader 4 brokers list and understand how many brokers currently use it to realize how popular MT4 is. MT5 is a far younger platform for trading than its older sibling, but it is being taken up quite quickly worldwide. The gap is somewhat important between the two channels, as you can see below.
As described above, the MT4 model is far older than the MT5, and it was successfully introduced back in 2005. This framework uses a distinctive MQL4 vocabulary, which is the most successful platform on the market by far. This technology is utilized by the vast majority of forex brokers around the world.
MetaTrader 4 has been developed specifically for use in forex and CFD trading, and for these sectors, it has increasingly become the industry norm. Brokers can offer you entry to this platform either directly or use a gateway to access you. The customer interface is top-of-the-line because there must be a justification behind that if someone else is doing it.
MetaTrader 5 or MT5, the newer of the trading platform brothers, was launched in 2010, five years back. Some significant changes to the MT4 framework have been made, including the additional periods, business data depth, economic calendar, and language compatibility with its older sibling. For the MT4 platform, the special MQL5 language may be included, but not vice versa.
Not only is this platform made for forex and CFD trade, but it can be used for all sorts of markets, including grains, derivatives, and stocks. It was planned and expected to be used by a separate trader segment, not to clash with the MT4 platform. If you look at the world's top 100 controlled brokers, a lot of them can sell all platforms or MT4 only.
Which is the best to use?
You need to know what sort of trade you want to be interested in to address this issue. For 15 years now, MetaTrader 4 has been ubiquitous in forex and CFD trading, and it is the go-to platform for this type of trading. If the older one delivers anything you like, there will be no reason to move to the newer one.
Today, if you want to diversify and participate in various sectors, MetaTrader 5 will offer you a wonderful experience. This is a perfect platform for those that trade worldwide thanks to the improvements from the previous version and its presence in so many different markets. The decision is ultimately up to you, and both will suit you well, based on what you intend to do.