Metatrader 5 is all set to take over Metatrader 4’s position as the definitive Forex online trading application. This progression is both natural and inevitable as the new Metatrader improves on its predecessor and expands on its features across the board.
Metatrader 4’s groundbreaking accessibility is what made it so successful, especially considering the rate at which inexperienced traders are entering the market. An application that could be used by newcomers from a range of non-English speaking territories was a necessity. Metatrader 5 continues this tradition of accessibility and greatly enhances it. The new ‘Navigator’ interface makes it much simpler to manage multiple accounts at once and streamlines the trading process in general.
It is arguable that the success of the Metatrader line contributed to the rise of another recent Forex phenomenon: algorithmic trading. Metatrader plays host to the most sophisticated ‘Electronic Advisors’ and indicators the market has ever seen, meaning adventurous traders can create more complex, effective algorithms than ever before.
Some of the biggest improvements represented by the new Metatrader are a little difficult to appreciate. For the first time in the history of the Metatrader line, the code has been completely re-written making for a much more reliable and bug-free application, not to mention vastly improved security features.
Allow me to outline one or two minor drawbacks of the new system. It is now not possible to trade two different-in-time orders on the same currency pair and Electronic Advisors designed for Metatrader 4 are not compatible and will be need to be written out again.
It is unlikely that Metatrader 5 will surpass its predecessor in terms of sheer impact, after all how can MetaQuotes corner the market a second time? It does however represent a significant evolution over Metatrader 4 and its transition to definitive Forex trading platform should be quick and smooth.