What is MetaTrader 4/5 (MT4/MT5)?
MetaTrader 4/5 (MT4/MT5)
Forex Trading Glossary
Quick Answer: MetaTrader 4 and 5 are popular forex platforms that deliver charting, order management, and automation through custom indicators and expert advisors.
What is MetaTrader 4/5 (MT4/MT5)?
MetaTrader 4 and 5 are widely used forex trading platforms offering charting, order management, and automated strategy support. MT4 focuses on forex and CFDs, while MT5 adds multi-asset capabilities and faster backtesting.
Key Platform Features
- Custom indicators: Build or import technical tools using the MQL scripting language.
- Expert Advisors: Automate trade execution with EAs that follow rule-based logic.
- Marketplace ecosystem: Access thousands of indicators, strategies, and copy-trading signals.
Mind the Broker Implementation
Each broker configures MT4/5 differently. Test spreads, execution speed, and data quality on a demo before going live.
Best Practices for MT4/5 Users
- Organize workspaces by strategy or asset class to streamline analysis.
- Run EAs on a reliable VPS to minimize downtime and connection issues.
- Use the strategy tester to validate ideas with historical data before risking capital.
- Keep platform software and plugins updated to patch security vulnerabilities.
Related Terms
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