How many people use MT5?
MT4 is the better bet if you are certain you will only be trading forex and CFDs, and you want to keep things very simple. It is a simpler platform and easier to get to grips with. If you trade stocks or more than one asset class, MT5 is definitely the right platform for you.
In September 2022, a ban on the MT4 and MT5 apps in Apple's App Store, which affected all markets, made headlines. Though the reasons for the decision were unclear, there was speculation that it was related to trading scams published in the iOS app store, impersonating popular trading platforms.
Trading platform MetaTrader5 (MT5)
The trading platform is perfect for those who trades currencies, CFD's and futures. All could be done in one account. It helps traders greatly with numerous instruments for technical and fundamental analysis, multiple time-frames, alert system, etc.
Recently, the much-appreciated trading platforms all over the world, MT4 and MT5, have been banned in India. This is a major shock for traders. The Indian government made this decision unexpectedly. It is believed that this happened because these platforms are not registered in India and thus operate illegally.
Will MT4 be phased out? Although MetaQuotes discontinued support for MT4 client terminal versions below 1065 in 2017 and stopped issuing MT4 licenses to new clients in 2018, the MT4 platform is still available for download via the MetaQuotes Software site (here is the link to the MT4 download landing page).
In short, if you are new to trading, MT4 is the right choice. The basic functions in MT4 are more than enough for trading. If you already have trading experience, try MT5 as it has more features.
The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents. However, both apps were restored after a few months.
App versions of the popular PC electronic trading platforms are provided by MetaQuotes Software Corp., a Russian software company that also has registration offshore in Limassol, Cyprus.
The reason is alleged non-compliance with guidelines by the developers of the MetaTrader 4 mobile apps. Currently there is no way to install MT4 app on devices running Apple's iOS. If you're looking for a quality mobile app for trading on financial markets, WebTrader could be a suitable replacement.
Is MT5 trading real or fake?
Is MetaTrader 5 a Scam? To begin with, it should be clarified that MT5 itself is in no way a scam. As explained above, MT5 itself is simply a software application that allows traders to connect to trading platforms and facilitate transactions via computers.
Charting and Analysis: TradingView excels in charting and technical analysis, while cTrader and MT5 offer wide range of features and superior focus emphasis on trade execution.
MT5 is a powerful platform for forex trading that allows traders to view multiple timeframes on a single chart. This feature is particularly useful for day trading and developing a trading strategy, as it enables traders to analyze price movements across different timeframes simultaneously.
Due to the current withdrawal of MT4 & MT5 from the Apple App Store, you won't be able to download the applications to your Apple mobile device. However, you can access your account using the web version and/or the desktop application, or through any android mobile phone.
The MT4 platform was the most popular forex and CFD trading platform in existence, but was recently superseded by the birth of its more recent relative MT5. Much of the digital trading world was thrown into the dark when in late September, Apple made the decision to ban the download of MT4 and MT5 from the App Store.
Will MT4 and MT5 still work on Android? The apps do not appear to have been removed from Google's Play Store. Android users should be able to run them without problems.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular trading platforms in the world. MT4 was released in 2005, while MT5 was released in 2010. As of January 2023, there are over 40 million active MT4 users and 10 million active MT5 users. There are a few key differences between MT4 and MT5.
A Historical Precedent: MetaTrader's Removal from the App Store. The trading community was taken by surprise when Apple decided to remove MT4 and MT5 from the App Store in September 2022, citing non-compliance with its guidelines [1].
Vantage WebTrader, a web-based platform offers traders a convenient alternative to traditional downloadable trading software like MT4 and MT5. As a web platform, it can be accessed easily without the need to download any software, making it ideal for online brokers and traders who value speed and convenience.
No, you'll need to open a live account with a broker that offers MetaTrader 5 (MT5) in order to trade with real funds. You can try MT5 out with a demo account, but you won't be able to do any live trading – and if your demo account is not connected to a broker, you won't have access to updated rates.
Why do traders prefer MT4?
Flexible trading system: The MT4 platform offers a high level of flexibility as it can be tailored to the specific needs of each trader. Regardless of whether you are just starting your trading journey or have several years of trading experience, the ability to customize MT4 makes the platform a convenient option.
Is there a minimum deposit to trade on MetaTrader 5? Yes, the minimum deposit is $100. We'd always recommend making sure you have more than the minimum available, to afford you more flexibility with your strategy. Start trading on MT5 by opening an account, or practice first using virtual funds with an MT5 demo.
Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).
MetaTrader 4 (MT4) is a popular downloadable online trading platform created by the Russian software firm MetaQuotes Software Corp. Released in 2005; the MT4 trading software became immensely popular with retail forex traders.
Because the forex market is decentralized and largely unregulated, it can be difficult to police. This can make it more vulnerable to scams and other fraudulent activities. By prohibiting forex trading in the US, the government is able to protect investors from these risks.
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