The first thing to keep in mind is that MT5 is a completely new platform, not an upgrade to MT4. The first platform, MT4, was released in 2005 and was built specifically for forex traders. Its infrastructure was designed to handle positions and orders in a particular way.
The platform became very popular, and it was clear that there was demand from stock traders for a similar platform. However, the way positions were handled in MT4 did not comply with the trading regulations of some stock exchanges. MT5 was therefore created with a different position and order handling system to comply with these regulations. At the same time, many other features were added to the platform.
Specifications | MT4 | MT5 |
Timeframes | 9 | 21 |
Chart indicators | 30 | 38 |
Economic Calendar | | |
Market depth | | |
Hedging | | |
EA Language | MQL4 | Mql5 |
Pending Orders | 4 | 6 |
Strategy tester | One frame | Multiple frames & currencies |
