Why Does MetaTrader 4 Been Such a Hit? 

MetaTrader 5, the newest edition of the most widely used forex trading programme available, has probably been advertised to you. It was created as an upgrade to MetaTrader 4 and has the newest features, and the creator is eager for users to use it.  

Everyone wants the most recent version of most technologies, whether it's the most recent iPhone, Windows 10, or their favourite game.  

Why is MetaTrader 4 platform still so well-liked, then? There must be something happening here as the retail FX traders; it continues to be the most widely used forex trading platform.   

MT4 v MT5: 

First, it's essential to comprehend the differences between MetaTrader 4 download and what is frequently referred to as its sibling application. The fact that it isn't all that different is likely the most crucial quality in terms of market functionality. In fact, MT5 would resemble your MT4 forex trading platform virtually if you were to open it. The backend, which employs a different programming language that is simpler to use, is truly where the distinction lies.  

However, there isn't much of a practical difference between the two programmes for the typical forex trader who isn't creating EAs and writing programmes to execute on their platform — in other words, pretty much everyone. The indicators are the same, and the execution time is the same. Even the looks aren't noticeably better.  

It's Only Basic Math: 

This brings us to the somewhat underwhelming justification for why so many traders continue to use MT4: they have no compelling reason to "upgrade". The application's creators continue to offer complete assistance even though they are pushing consumers to switch from their previous programme. So, rather than seeing it as an enhancement, most people regard it as an equal.  

The majority of those who learnt to trade using MT4 download pc are already familiar with how it operates and are at ease using it. As a result, there is no need for them to download, install, and manage a new programme as its indicators and features are the same.  

MT4 was initially intended for currency traders; however, MT5 was meant to give extra trading options, like stocks. However, it was retrospectively added to all the most recent MT4 builds. In that sense, there is no distinction between the two.  

The People Vote:  

A sizable portion of larger, more consistent traders employs MT4-specific add-ons to their software. They would not work with MT5 due to the altered programming language. For FX traders, learning an entirely new programming language is not advantageous when moving their bespoke EAs to a different platform. There is so little incentive for other retail traders to switch to MT5 unless there is a significant improvement in signals, EAs, and copy-trading.  

In essence, there is already a sizable community supporting MT4, and there are many tools and online publications to aid beginner FX traders. It indicates that the majority of forex traders will continue to favour the older programme even after its introduction.  

The conclusion  

Nothing wrong with MT5 exists. And MT4 will likely be replaced over time. It won't happen soon, though. You probably won't be significantly worse off if you start trading using the upgraded version. But ultimately, MT4 continues merely out of inertia; it is effective and successful, so why fix it?  

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