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Thread: What to think about MT5

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    Senior Member fxtester's Avatar
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    Nov 2008

    Default What to think about MT5

    At the beginning of this year, Metaquotes has made big changes with Metatrader 5.

    It is now possible to do hedging : buy and sell a same symbol; and to use the tester with real tick data. Since the 20th of april 2016.

    Metaquotes will probably stop to update Metatrader 4 within the next two years. The goal would be to have more brokers to use MT5.

    The advantages of a unique Metatrader platform (Metatrader 5) :

    - MT5 is faster,
    - the strategy tester in MT5 can load real tick data, whereas for MT4 you have to pay softwares like tickstory or birt scripts to load tick data,
    - the language of MQL5 is a c++ like language = more possibilities for programmation,
    - MT5 has more libraries available to help coders,
    - the commissions have disappeared in MT5, they are now included in the spread,
    - MT5 has more timeframes : M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, H2, H3, H6, H8, H12,
    - you can choose between real volumes and tick volumes,
    - you can see the past news and upcoming news directly on the chart without indicators, also with a calendar tab,
    - you can see the total volume of trades per symbol on the market watch,
    - more advanced detailed statement and strategy tester reports,
    - MT5 Strategy Tester Agent proposes to pay people if they share their cpu and memory ressources for calculations tasks, it is not used enough today, so you will be paid one cent per day only,
    - custom data import and custom charts should be available soon,
    - Time & Sales soon available (advanced depth of market), and also during testing,

    The disadvantages of a unique Metatrader platform (Metatrader 5) :

    - the language of MQL4 is a c like language = more simple, easier for most of the traders to code their systems; with MQL5 you have to code twice more to get the same result,
    - the traders would lose their codes collection, hundreds or even thousands of dollars of codes,
    - MT5 is using 4 times more cpu charges, and 6 times more memory charges, comparing to MT4,

    It is not planned to make MT5 compatible with MQL4 codes.

    For the old codes, we won't have any choice, but to convert them into MQL5.

    We should be able to disable the useless features to decrease the need in power (also not planned).
    Last edited by fxtester; 07-13-2016 at 18:50.

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