Oh I like MT4. I learned to trade on this platform, and continue to trade so far. That's why I chose MT4 lol. Although I heard a lot of good reviews about MT5. But I haven't tried it myself. I can't say anything about it.
Now I still use the MT4 trading platform, but I am also trying to use the Ticktrader terminal platform. This terminal platform is offered by an FXOpen broker that offers one account to access all CFD markets,.
Well, I have tried both MT4 and MT5 thoroughly for last 5 to 6 years and so I can give a much better explanation about advantages and disadvantages.
Originally, obviously I started with MT4 only and I still continue and prefer to use MT4 over MT5 after using for 15 years or more.
The primary reason for choosing MT5 over MT4 was because it has many inbuild libraries and functions which are useful for machine learning algos and it has better options for training, optimization, testing, has multiple timeframes etc. Also, MT5 is better to connect with external platforms and you can hire sever resources for training. So basically, MT5 is for advanced traders who are mainly focused on backtesting, optimization, machine learning algos etc.
The biggest disadvantage of MT5 is that the programming language MQL5 is completely different from MQL4 and there is no shortcut to convert the code from MT4 to MT5 even though some basic libraries are available.
So still I use MT4 only for machine learning algos also without using MT5 since I can write anything and train in my own server quickly. But in MT5, writing code is difficult for simple concepts as well as I also quickly realized that any such algos which can run in MT5 and not on MT4 are just theoretical concepts and actually they don't make profit or can't make profit practically due to lack of computing power as a whole and so there is no use of MT5 and advanced algos which can only run in MT5.
In short, if anything which MT5 can do, then MT4 can also most likely do with little more efforts from the trader or programmer and so I still like to stick with MT4 only.
MT4 is widely used by traders because it is more established, has a larger user community, and offers a wider range of third-party plugins and add-ons. MT5, on the other hand, offers more advanced features, such as more timeframes, more types of orders, and a built-in economic calendar. The choice between MT4 and MT5 ultimately depends on the individual trader's needs and preferences. Traders who are more focused on technical <a href='https://essaypapers.reviews/'>analysis</a> and use a lot of custom indicators and expert advisors may prefer MT4. On the other hand, traders who are more interested in fundamental analysis and want access to more advanced order types may prefer MT5. Ultimately, the choice between MT4 and MT5 comes down to personal preference and the specific trading strategy and goals of each individual trader.