What is the difference between MetaTrader 4 and MetaTrader 5?

Traders can use either the older MetaTrader 4 or the newer MetaTrader 5 for their trading and be equally successful. The older MetaTrader 4 is specifically designed for forex trading, and it excels in the currency markets. The newer MetaTrader 5 was designed to be more effective in trading CFDs, futures, and stocks. MetaTrader 5 also features advanced order management and has more timeframes to access. MetaTrader 5 also saw the MQL4 programming language upgraded to MQL5, which is both easier to use and more powerful.

How much does it cost to use MetaTrader 4?

It costs nothing to use MetaTrader 4. The download is available from your broker for free, and any licensing fees are paid by the broker to MetaQuotes, the makers of MetaTrader 4. You might be interested to know that according to MetaQuotes the full license for MetaTrader 4 costs $100,000 and there is an additional sum of around $15,000 per month for hosting, bridging, hiring 24/5 support and other services. That’s not cheap, but all of the costs are borne by the broker, making it more cost-effective and easier for their clients to start trading.

Is MetaTrader 4 the best trading platform there is?

MetaTrader is probably the most well-known trading platform there is, simply because it has been available for so many years and from so many brokers. It’s not the only trading platform out there however. There are others such as NinjaTrader and the Interactive Brokers or TD Ameritrade terminals. And yet for forex trading, and for most retail traders MetaTrader remains the best trading platform with the greatest functionality and ease of use. It also has the largest community and the broadest array of plugins and addons.

Trading with MetaTrader 4

A seriously good trader needs a seriously powerful platform – This is the MT4. There’s a reason why the MT4 is considered the most popular platform for online traders. It is rich with features for the more advanced trader, and simple enough for the newer trader to learn. Take advantage of thousands of indicators, 10 timeframes and multiple chart views.

Meet MetaTrader 4

MT4 has been around since 2002 and since become the industry benchmark in online trading. Easily customisable, it is both user-friendly for novices, and comprehensive, for seasoned market pros.

Open a
real account

and select MetaTrader 4 as your platform

Deposit a
minimum of
Fund your account to enter the markets

Download
MetaTrader 4
and log in with your credentials

MetaTrader 4 Features

Flexible and fast trading platform
Trading signals from top providers
Expert advisors for algorithmic trading
Global accessibility from PC, web & mobile

MetaTrader 4 Support

Web

ios

Android

Windows

Why Use AvaTrade MetaTrader 4?

User-Friendliness and Flexibility
The MT4 platform has a neat, uncluttered, easy-to-use interface that both novice and experienced traders can navigate. The platform is very intuitive, and traders can easily access all relevant tools, resources, and information such as charts, market news, and indicators. All this has been achieved without sacrificing the platform’s flexibility. MT4 is very stable and resource-light and can run smoothly on almost all types of devices (new or old).

Professional Analytic Tools
MT4 has become very popular because it provides comprehensive professional tools to enable traders to perform effective research and analysis when trading online. Traders have access to interactive charts available in 9 timeframes, 23 analytical objects, and 30 in-built technical indicators. Furthermore, there is a free codebase to allow traders to develop their own custom indicators and a Market where more indicators can also be accessed. MT4 also has alerts and financial news widgets that enable traders to get notified, in real-time, about relevant news and events and different market conditions.

Algorithmic Trading
The MetaTrader 4 platform supports algorithmic trading. The platform allows traders to implement their automated trading strategies in the market with maximum support and functionality. MT4 has a comprehensive environment for developing, testing, and optimising automated trading programs. The platform’s MQL4 IDE (Integrated Development Environment) features a MetaEditor and Strategy Tester that supports the efficient development of technical indicators and Expert Advisors (EAs), no matter how complex they are.

Convenience
MT4 allows traders to trade while on the go. Traders can access the platform conveniently on both desktop and mobile devices. Desktop traders can access MT4 on both Mac OS and Windows, whereas mobile traders can access the platform on both iOS and Android. MT4 is also available directly as a web-based platform on any browser. In this way, traders can keep track of market changes and perform any trading actions wherever and whenever they like. Additionally, MT4 does not place any limits on its platform strategies that can be applied. Traders can scalp and implement hedging strategies without any restrictions.

Multiple Awards
Since its release in 2005, MT4 has become the most popular platform for retail traders online. The platform has won multiple awards over the years and continues to be a favourite platform for online retail investors worldwide.

MetaTrader 4 Features

MetaTrader 4 also supports the creation, modification, and utilisation of automated trading strategies. The entire ecosystem that supports algorithmic or automated trading is harmonised and available on the MQL4 IDE (integrated development environment). MQL4 is the native programming language that enables the development of various custom trading tools to be used directly on the MetaTrader 4 trading platform.

MetaTrader 4 features the highest security and technology standards. It supports the native MQL4 (MetaQuotes Language 4) programming language, which enables the development of various custom trading tools to be used directly on the MetaTrader 4 trading platform. MQL4 is based on the popular C++ and its flexibility can help create the following:

Expert Advisors (EAs) - EAs are programmes that make it possible to apply automated strategies in the forex market.
Custom Indicators - Aside from the built-in technical indicators, traders can also develop their own custom mathematical tools to perform any analytical operation based on defined conditions.
Scripts - A script is an application that can be programmed to perform any function on MetaTrader 4 platform. For instance, there can be a script to close all pending orders or to delete all the indicators on a chart.
Libraries - These are sets of custom functions that are designed to store and easily distribute parts of custom applications that are commonly used on MetaTrader 4 platform.

The MQL4 IDE also consists of the MetaEditor and Strategy Tester. The MetaEditor is an EA editor and compiler tool which allows for the creation, editing, compiling and debugging of MQL4 source code. The Strategy Tester is an EA testing and optimisation unit which allows for the thorough assessment and tweaking of automated trading strategies to ensure they are deployed in the live market with the best parameters possible.

Here are the main features of the AvaTrade MetaTrader 4 trading platform:

One-click trading - A single click to open or close trade positions in the market.
EA functionality - Deploy automated trading strategies with ease and efficiency.
9 timeframes (M1, M5, M15, M30, H1, H4, Daily, Weekly, and Monthly) - Enhance your trading activities by capturing optimal prices on shorter timeframe charts, while also watching the bigger picture on longer timeframe charts.
3 charts (line, bar, and candlesticks) - Direct trading from asset price charts. Visualise price action by shifting through different chart types with just a single click.
30 built-in indicators - Perform extensive technical analysis of asset prices using the different types of available mathematical indicators.
24 graphical objects - Perform further graphical analysis on your charts using lines, geometrical shapes, arrows, texts, and text labels.
1 single login across all your trading platforms - Trade flexibly and conveniently by seamlessly transitioning between your mobile and desktop devices, using a single login.
Guaranteed full data backup and security - Save and backup a copy of your MT4 installation and restore it on any device as you wish.
4 pending order types - Trade flexibly across various market conditions and asset classes using pending orders, such as buy stop, sell stop, buy limit and sell limit.
Trade history information - Assess your trading performance by looking at the comprehensive available trading history.
Micro lots available - Use micro-lots if you are a new and inexperienced trader, or if you wish to control risk, or if you have low starting capital.
Internal mailing system - Receive important information from AvaTrade without leaving your trading platform.
News streaming - Stay on top of important economic news releases and events via the platform.
Built-in MT4 and MQL4 guides - Build your knowledge of MT4 navigation, as well as MQL4 by taking advantage of the free resources on your platform.

MetaTrader 4 Accessibility

How to Use MT4 on PC

Click on the AvaTrade MetaTrader 4 download link here
Run the avafx.exe file
Enter your real or demo account login information
Begin trading

AvaTrade MetaTrader 4 minimum system requirements

Operating System: Vista, Windows 7, Windows 8/8.1, Windows 10.
Processor: Intel Core i3 or equivalent, recommended- Intel Core i5 or higher.
RAM: 8GB or higher.
50MB free hard drive space
Internet Connection: 1Mbps or greater

Web

With the AvaTrade MetaTrader 4 web platform you can trade directly from your browser. To access it, simply open MetaTrader 4 page on the AvaTrade website and click on ‘Web’. Enter your trading account login credentials and start trading. You can use any browser or operating system - you will need internet connection to trade.

Key Features:

Real-time quotes in MarketWatch
Reliable data protection
Compatibility with Windows, macOS and Linux.

Mobile Devices

The AvaTrade MetaTrader 4 platform is also available for both Android and iOS mobile devices. Go to the Apple App Store or Google Play Store, download MetaTrader 4 by MetaQuotes Software Corp. and log in to your account by selecting your broker, server, and login details.