Both platforms are designed to meet the needs of traders of all levels of experience. Whether you are a beginner or an advanced trader, our Metatrader 4 and Metatrader 5 platforms provide the tools and functionality you need for successful trading.
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MT4 & MT5
THESE MULTI-ASSET PLATFORMS ARE RENOWNED GLOBALLY AND OFFER A WIDE RANGE OF ADVANCED TRADING FEATURES.
iFX Brokers offers traders access to both the Metatrader 4 and Metatrader 5 platforms, renowned for their advanced features and popularity. These platforms allow for convenient trading of multiple assets and offer a multilingual interface.
With comprehensive analysis tools, customizable chart setups, one-click executions, stop and limit orders, technical indicators, live analytics, and more, traders have all the necessary tools at their disposal. Our platforms are available as desktop applications for Windows and as mobile apps for Android and iOS devices.
What Are MetaTrader 4 and MetaTrader 5?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are globally recognised online trading platforms used for forex and CFD trading. Both platforms provide charting tools, technical indicators, automated trading capabilities, and market analysis features. MT4 is widely used by forex traders due to its simplicity, while MT5 offers additional functionality, more timeframes, and access to a broader range of financial instruments.
What is MetaTrader 4 (MT4)?
MetaTrader 4 is a trading platform primarily used for forex and CFD trading. It offers advanced charting tools, technical indicators, automated trading through Expert Advisors (EAs), and flexible order execution features.
What is MetaTrader 5 (MT5)?
MetaTrader 5 is the successor to MetaTrader 4 and provides additional trading functionality, including more order types, additional timeframes, an integrated economic calendar, and support for a wider range of financial instruments.
| Metatrader 4 | Metatrader 5 | |
|---|---|---|
| INTERFACE | MT4 is simple and easy to use and allow users to customize the interface to suit their individual needs. | MT5 is the successor with additional trading features including the option to trade futures and stocks. With a similar interface MT5 offer many additional timeframes, services and advantages. |
| TIMEFRAMES | 9 timeframes available M1 M5 M15 M30 H1 H4 D1 W1 MN |
21 timeframes available M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30, H1, H2, H3, H4, H6, H8, H12, D1, W1, MN |
| ORDER EXECUTION TYPE | Market Execution | Market Execution |
| PENDING ORDER TYPES | 4 types of pending orders | 6 types of pending orders |
| ORDER FILL POLICY | Fill or Kill | Fill or Kill |
| PROGRAMMING LANGUAGE | MQL4 | MQL5 |
| HEDGING | Yes *Only Available to Institutional Clients |
Yes *Only Available to Institutional Clients |
| NETTING | No | Yes |
| TECHNICAL ANALYSIS | 30 Built in Indicators 2000+ free custom Indicators700+ Paid Indicators |
38 Technical Indicators 33 Analytical objects 19 Timeframes and unlimited number of charts |
| ECONOMIC CALENDAR | No | Yes |
| SUITABLE FOR | Easy to use and more suitable for beginners or traders wishing to trade Forex | Designed to provide traders with access to CFDs, Shares and Futures. Includes enhanced functionality with additional features. |
| TRADE CONFIRMATIONS | Instant | Instant |
| WEBTRADER | Yes | Yes |
| IOS | Yes | Yes |
| ANDROID | Yes | Yes |
| TRADEABLE INSTRUMENTS | Indices Metals Currency Pairs Commodities |
Indices Metals Currency Pairs CommoditiesEquities/Shares |
| GMT OFFSET | plus 2 Daylight Saving Apply | plus 2 Daylight Saving Apply |
| DEFAULT LOT SIZE | 0.01 (micro lots) | 0.01 (micro lots) |
| STOP LOSS AND TAKE PROFIT RESTRICTIONS | None | None |
| PENDING ORDER RESTRICTIONS | None | None |
| SCALPING RESTRICTIONS | None *Only Available to Insitutional Clients |
None *Only Available to Insitutional Clients |
| CLOSE PART A POSITION | Yes | Yes |
Metatrader 4 (MT4)
Metatrader 4 (MT4) is known for its enhanced charting functionality and advanced order management tools. It provides a user-friendly multilingual interface and allows for comprehensive market analysis. With MT4, you can easily set up multiple charts and access a wide range of technical indicators to make informed trading decisions.
Metatrader 5 (MT5)
Metatrader 5 (MT5) is the successor to MT4 and takes trading to the next level. In addition to all the features of MT4, MT5 offers additional trading options, including the ability to trade futures and stocks. With MT5, you have access to an expanded range of financial instruments and can diversify your trading portfolio.
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WHICH PLATFORM SHOULD USE?
Interface
METATRADER 4 (MT4)
MT4 is simple and easy to use and allow users to customise the interface to suit their individual needs.
METATRADER 5 (MT5)
MT5 is the successor with additional trading features including the option to trade futures and stocks. With a similar interface MT5 offer many additional timeframes, services and advantages.
Timeframes
09 TIMEFRAMES AVAILABLE
M1, M5, M15, M30, H1, H4, D1, W1, MN
21 TIMEFRAMES AVAILABLE
M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30, H1, H2, H3, H4, H6, H8, H12, D1, W1, MN
MT5 introduce extra timeframes which allow for more analysis of the market
Order Execution
PENDING ORDERS
A pending erder is an order to buy or sell a security at a pre-definder price in the future.
MT4
Four Types of Pending Orders
Buy Stop – buy provided the future “ASK” price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
Buy Stop
Buy Limit – buy provided the future “ASK” price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
Buy Limit
Sell Limit — a trade order to sell at the “Bid” price equal to or greater than the one specified in the order. The current price level is lower than the value specified in the order. Usually this order is placed in anticipation of that the security price will increase to a certain level and will fall then;
Sell Limit
Sell Stop — a trade order to sell at the “Bid” price equal to or less than the one specified in the order. The current price level is higher than the value in the order. Usually this order is placed in anticipation of that the security price will reach a certain level and will keep on falling.
Sell Stop
MT5
Six types of Pending Orders
Buy Stop – buy provided the future “ASK” price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
Buy Stop
Buy Limit – buy provided the future “ASK” price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
Buy Limit
Buy Stop Limit — this type is the combination of the first two types, being a stop order to place a Buy Limit order. As soon as the future Ask price reaches the stop-level indicated in the order (the Price field), a Buy Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set above the current Ask price, while Stop Limit price is set below the stop level.
Buy Stop-Limit
Buy Stop Limit
Sell Limit — a trade order to sell at the “Bid” price equal to or greater than the one specified in the order. The current price level is lower than the value specified in the order. Usually this order is placed in anticipation of that the security price will increase to a certain level and will fall then;
Sell Limit
Sell Stop — a trade order to sell at the “Bid” price equal to or less than the one specified in the order. The current price level is higher than the value in the order. Usually this order is placed in anticipation of that the security price will reach a certain level and will keep on falling.
Sell Stop
Sell Stop Limit — this order is a stop order to place a Sell Limit order. As soon as the future Bid price reaches the stop-level indicated in the order (the Price field), a Sell Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set below the current Bid price, while Stop Limit price is set above the stop level.
Sell Stop-Limit
Sell Stop Limit
MQL4 vs MQL5
PROGRAMMING LANGUAGE INTEGRATED INTO THE PLATFORM
For the development of trading robots, technical indicators, scripts and function libraries.
MQL4
- Used for developing trading programmes based on the order system;
- MQ4L required multiple functions for performing trading operation;
- Programmes for MT4 cannot run on MT5;
- More simplistic than MQL5.
MQL5
- MQL5 is used to implement a positional system;
- More efficient and easier to use;
- Traders can write and alter scripts;
- Trading operations are done by sending trade requests using just a single function.
Hedging
MT4 Allows Only Hedging
*Only for Institutional Clients
*Only for Institutional Clients
MT5
Accommodate Hedging and Netting
*Hedging only available to Institutional Clients
Accommodate Hedging and Netting
*Hedging only available to Institutional Clients
Technical Analysis
-
30Built in Indicators
-
2000+Free Custom Indicators
-
700+Free Custom Indicators
-
38Technical Indicators
-
33+Analytical Objects
-
19Timeframes Unlimited Number of Charts
Economic Calendar
No
No
MT5 Offers an Economic Calendar
Compatibility
| Device | MT4 |
|---|---|
| Windows Vista/7/8/10/11 | |
| Mac OS | |
| Iphone/iPad | |
| Android |
| Device | MT4 |
|---|---|
| Windows Vista/7/8/10/11 | |
| Mac OS | |
| Iphone/iPad | |
| Android |
Funds Transfer Between Accounts
No
Yes
*Only available to Institutional Clients
Suitable for
Easy to use and more suitable for beginners or traders wishing to trade Forex
Designed to provide traders with access to CFDs Stocks and futures. Includes enhanced functionality with additional features.
| Feature | MT4 | MT5 |
| Best for | Forex Trading | Multi-Assets Trading |
| Timeframes | 9 | 21 |
| Pending Orders | No | Yes |
| Economic Calendar | 4 | 6 |
| Programme Language | MQL4 | MQL5 |
| Tradable Assets | Forex, Commodities, Indices | Forex, Commodities, Indices, Shares |
Frequently Asked Questions
Welcome to our comprehensive FAQs section, where we aim to address the most common questions and concerns you may have. Whether you're seeking clarity on our referral fee policy, looking for information on how to maximize your earnings, or simply curious about the ins and outs of referral fees, you've come to the right place. We've compiled this list of frequently asked questions to provide you with quick and accessible answers, ensuring that you have all the essential information at your fingertips. Browse through the following queries to find the answers you're looking for and gain a better understanding of referral fees and how they can benefit you.
What is the difference between MT4 and MT5?
MetaTrader 4 was built specifically for currency trading and remains the most widely used forex platform in the world. MetaTrader 5 is its multi-asset successor, adding more timeframes, more built-in indicators, additional order types, an economic calendar and depth-of-market data, along with a faster programming language for automated strategies. The practical difference is scope: MT4 is a specialist forex platform, MT5 is a broader platform built to handle forex alongside shares, indices, commodities and futures.
Is MetaTrader 5 better than MetaTrader 4?
Neither platform is universally better, they are built for different priorities. MT5 is generally the stronger choice if you trade across several asset classes, want more analytical tools, or need its additional order types and market depth. MT4 remains preferred by many traders for pure forex work, has the larger library of third-party indicators and Expert Advisors, and is the simpler platform to learn. iFX Brokers offers both, so you can trade on either or use them side by side.
Can beginners use MT4?
Yes. MetaTrader 4 is widely regarded as the more approachable of the two platforms, with a straightforward order window, customisable charts and a smaller set of built-in tools, which makes it less overwhelming than MT5’s fuller feature set. It suits beginner to intermediate traders well. We recommend starting on an iFX demo account, where you can learn the platform and practise placing, modifying and closing orders using virtual funds before risking real money.
Does MT5 support forex trading?
Yes. MetaTrader 5 supports the full range of forex trading, including all major, minor and exotic currency pairs available through iFX Brokers. MT5 also adds features useful to forex traders specifically, including 21 timeframes, more built-in indicators and an integrated economic calendar. The difference from MT4 is that MT5 handles forex alongside commodities, indices, shares and cryptocurrencies in one platform, rather than being built around currencies alone.
Can I use MetaTrader on mobile devices?
Yes. Both MetaTrader 4 and MetaTrader 5 are available as mobile apps for iOS and Android, and the iFX Brokers app can be downloaded from the Apple App Store and Google Play. Mobile gives you full order management, live quotes and charting with technical indicators, so you can open, modify and close positions and monitor your account from a phone or tablet. Your account is the same across desktop and mobile, so positions opened on one are visible and manageable on the other.
Does iFX Brokers offer both MT4 and MT5?
Yes. iFX Brokers supports both MetaTrader 4 and MetaTrader 5 on every account type, and you can run both at the same time if you prefer. Both platforms give access to our full range of over 200 instruments across forex, commodities, indices, cryptocurrencies and shares, with trade sizes from 0.01 to 100 lots. You can open a demo account on either platform to test it before funding a live account.
Which platform supports CFD trading?
Both. MetaTrader 4 and MetaTrader 5 support CFD trading on commodities, indices, shares and cryptocurrencies, in addition to forex. If you trade mainly forex with occasional CFD positions, MT4 handles this comfortably. If CFDs across shares and indices form a larger part of your strategy, MT5’s additional order types, market depth and asset coverage make it the more natural fit.
Do You Have any Questions?
REST ASSURED, AT iFX BROKERS WITH ITS CLIENT - CENTRIC STANCE, OUR SUPPORT TEAMS ARE GEARED TO ASSIST YOU EVERY STEP OF THE WAY, RESULTING IN A SEAMLESS AND SUCCESSFUL TRADING EXPERIENCE.
Help center
An experienced Technical Support Team is available 6 days a week via our Instant Ticket facility to assist with any queries related to the opening of your trading account and the installation of the trading platform.
