Is Metatrader 4 Obsolete?

Is MetaTrader 4 obsolete?,,platform builds,stability,ThinkMarkets,Mobile terminals,trading accounts,ThinkPortal,investment advice,market commentary,reliance

Key Takeaway:

  • MetaTrader 4 is an established trading software in the forex industry, but its decline in popularity is attributed to factors such as outdated trading technologies, lack of trading updates, and high trading fees.
  • Despite its drawbacks, MetaTrader 4 continues to offer benefits such as trading indicators, trading strategies, trading systems, and a supportive trading community.
  • Considering certain aspects such as trading performance, trading efficiency, trading customization, and trading experiences, it is up to forex traders to decide whether to switch to MetaTrader 5 or explore other trading platforms that offer forex liquidity, forex volatility, forex spreads, forex swaps, forex margins, forex leverage, forex risks, and forex profitability.

The Emergence of Trading Platforms

The Emergence Of Trading Platforms  - Is Metatrader 4 Obsolete?,

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Trading Platforms: The Evolution of Online Trading

The world of trading has undergone a revolution in recent years with the emergence of various trading platforms. These platforms enable traders to access real-time global financial markets, conduct transactions and make trades online. The development of trading platforms has made online trading more secure, accessible and efficient.

As technology evolves, so do trading platforms. With the advent of mobile technology, trading platforms have become increasingly accessible and optimized for use on mobile devices. This enables traders to make trades anytime and from anywhere, making the process more flexible.

One unique feature of trading platforms is the ability to integrate with other software and services. Traders can access news feeds, market analysis tools, and receive alerts on market developments. This integration with other services allows traders to make more informed decisions, thereby increasing the potential for profitable trades.

The history of trading platforms is rooted in the advent of online trading, which began in the 1990s. The first trading platforms were basic, but over time, they became more advanced and sophisticated. The development of MetaTrader 4 in 2005 greatly improved the functionality of trading platforms, but with the emergence of new technologies, it is now being considered outdated.

Understanding MetaTrader 4

Understanding Metatrader 4  - Is Metatrader 4 Obsolete?,

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Delve into MetaTrader 4 for FX trading! Discover its features and benefits. You can find useful tools, such as trading robots, expert advisors, and MT4. Get an advantage with improved trading performance, systems, signals, education, and community help.

Features of MetaTrader 4

MetaTrader 4 – Features, Advantages and Drawbacks

MetaTrader 4 is a popular trading platform with several unique features that cater to traders’ requirements. The platform boasts automated trading tools such as trading robots and expert advisors that execute trades on behalf of the trader. In addition, MetaTrader 4 allows customization of charts with various indicators and graphical objects, enabling traders to analyze market trends effectively. Furthermore, the platform supports various order types such as limit orders, trailing stops, take profit, and stop losses.

The key features of MetaTrader4 are:

  • Automated Trading Tools – Expert Advisors, Trading Robots
  • Customizable Charts – Indicators and Graphical Objects
  • Diverse Order Types – Limit Orders, Trailing Stops, Take Profits and Stop Losses

Apart from its remarkable features, using MetaTrader 4 also has numerous benefits for traders, such as:

  1. It provides secure transactions through encryption of data exchange between the client terminal and the server.
  2. It offers an intuitive user interface with easy navigation of its features and functionalities.
  3. MetaTrader 4’s large community makes it possible for users to share their experiences and ask questions about particular issues they face.

Despite its impressive array of features and advantages in comparison to other platforms available in the market today, there are still some drawbacks associated with MT4 that can hamper efficient trading practices. For instance, MetaTrader 4’s inability to access multiple accounts simultaneously requires additional effort from traders who prefer managing different accounts simultaneously.

Long before the advent of modern-day platforms like Robinhood or eToro existed is a tale where one man acquires a small fortune by shorting an entire country’s economy single-handedly using only his internet connection at home- while everyone else around him tried less successfully in traditional brick-and-mortar institutions. This was made possible due to MT4’s execution speed which allowed him to act on market trends before others could.

Get the full package with MetaTrader 4 – great trading performance, reliable systems, accurate signals, valuable education, and a supportive community.

Advantages of Using MetaTrader 4

MetaTrader 4: Empowering Your Trading Journey

MetaTrader 4 (MT4) remains a favorite among traders due to its incredible features and functionalities. Its versatile charting tools, advanced trading performance analytics, auto-trading systems, and real-time trading signals provide a comprehensive trading experience. Additionally, MT4 offers an extensive library of free technical analysis indicators that enable traders to execute complex strategies with ease.

Here are some of the advantages of using MT4:

  • Fast and Easy Execution of Trades: With its user-friendly interface, traders can place trades much faster than traditional means, leading to better opportunities and higher profits.
  • Advanced Charting Capabilities: The platform’s flexible charting tools allow for in-depth technical analysis by offering various graphical representations such as candlestick charts, line charts and more. Historical data storage helps traders understand trends over time efficiently.
  • Intuitive Dashboard Controls: A seamless dashboard offers quick access to account management options, chats & messages from brokers and custom trade lists as well as log reports.
  • A Robust Community of Traders: Built-in chart sharing functionality allows the platform’s users to interact with each other while sharing tactics and insights on best practices.
  • Mirror Trading or Copy Trading Options: Automated trading decisions can be based on accurate text analysis; furthermore copytrading options are available making it easier for novice traders to rely on expert decision makers.
  • Educational Resources: Access an online trader encyclopedia that provides an assortment of articles covering everything from basic information about forex trading to skilled-level guides for advanced strategy development.

Furthermore, MetaTrader 4 is compatible with both Windows and MacOS operating systems for desktops as well as mobile devices like iOS or Android smartphones & tablets so you never miss out on your trades.

Interestingly enough, although there has been a rise in the use of the newer MetaTrader 5, MetaTrader 4 still holds its own as many traders continue to enjoy trading on the platform.

MT4 remains unparalleled not only in terms of features but also ease of use and trading community support.

According to Forbes, “MT4 is still one of the most widely used forex trading platforms around…”.

MetaTrader 5 takes algorithmic trading to new heights, leaving its predecessor MetaTrader 4 in the dust.

The Rise of MetaTrader 5

The Rise Of Metatrader 5  - Is Metatrader 4 Obsolete?,

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To stay ahead, you need a new, effective and tech-savvy trading platform. So, compare MetaTrader 4 and 5. Weigh their pros and cons. This will help you make an informed decision that fits your trading experience and outlook.

Differences Between MetaTrader 4 and MetaTrader 5

MetaTrader 4 and MetaTrader 5 differ significantly in terms of functionality, interface, and trading capabilities. The major difference lies in their respective use of programming languages. In comparison to MT4’s MetaQuotes Language (MQL) 4, MT5 employs MQL5, which provides explicit multi-threading capabilities that enable traders to run multiple processes simultaneously.

Trading Order TypesLimited to Market Orders, Pending Orders, Stop Loss Orders and Take Profit OrdersAdds Depth of Market orders for superior trade execution pricing and time.
Position Accounting SystemHedging is possible through its native Netting system.Supports both Hedge & Netting systems with comprehensive position management.
Pending Order typesLimited to just four pending order types: Buy Limit, Sell Limit, Buy Stop, and Sell Stop.Adds six additional order types – Buy Stop Limit,Buy Limit Stop,Sell Stop Limit,Sell Limit Stop,Buy Stop Limit and Sell Stop Limit.
Indicators LibraryA massive library of custom indicators is available on its website for free download.The number of freely available forex indicators (including averages) has been cut down to fewer than a hundred.Including those released by third-party developers, there are now just over 300.

MT5 has several advantages over its predecessor, including faster execution and a better algorithmic trading environment. It also features a more advanced order placement system that enables traders to specify the desired execution parameters with market orders. Furthermore, it supports synthetic instruments that allow traders to create their own financial assets from existing instruments.

With continued focus and improvement on MT5 by MetaQuotes recently, there is no doubt that the platform will continue to surpass MT4 in terms of performance and capabilities. As such, traders who continue using MT4 run the risk of falling behind technologically if they don’t upgrade soon.

It is crucial for brokers to keep pace with technological advancements when choosing a trading platform because it can make the difference between long-term success or failure. By regularly updating their technology, brokers can align themselves with modern trading security, reliability, efficiency and flexibility standards in an ever-changing marketplace.

MetaTrader 5 may have its advantages and drawbacks, but it’s still worth exploring for those who want to stay ahead in the ever-evolving world of trading.

Advantages and Drawbacks of MetaTrader 5

MetaTrader 5 – A Comprehensive Overview of Its Features

MetaTrader 5 has been widely adopted as a trading platform due to its extensive range of offerings, making it a top competitor in the market. The following are the notable advantages and drawbacks of using MetaTrader 5:


  • Advanced charting tools that allow for intricate analysis of market trends
  • An intuitive, user-friendly interface for enhanced trading experiences
  • The ability to automate trades and install custom indicators with ease


  • Hesitation from traders to switch over from reliable, established platforms like MetaTrader 4
  • Complexity in coding strategies for automated trades may pose challenges for users without programming experience
  • The initial learning curve can be steep for those unfamiliar with the interface or charting tools.

Overall, while MetaTrader 5 offers an improved user interface and advanced features compared to previous versions, adoption rates vary among traders due to varying preferences and demands.

Notably, despite the draw towards new technology and innovations within the industry, some traders still prefer using traditional platforms like MetaTrader 4 due to familiarity with their functions. Nonetheless, it is important for traders to continuously monitor trading trends and evolve with them. Alternative trading platforms may offer unique advantages depending on individual preferences and priorities.

MT4 may be as obsolete as a floppy disk in a cloud storage world, but forex regulation and compliance still keep it alive.

Is MetaTrader 4 Obsolete?

Is Metatrader 4 Obsolete?  - Is Metatrader 4 Obsolete?,

Photo Credits: by Daniel Taylor

To decide about MetaTrader 4 (MT4), you must be familiar with factors causing its decrease in fame. Plus, weigh the pros and cons of using it. Consider trading news, market analysis, Forex brokers, fees and commissions.

Pros and cons include trading performance, indicators, strategies, education, community, apps, mobile, desktop, and web trading.

Factors Contributing to Its Decline in Popularity

The gradual shift away from MetaTrader 4 can be attributed to several reasons. One of the primary contributing factors is its outdated technology, which has now become unfit for modern traders’ requirements. Many new trading platforms have since emerged, offering better and more advanced features to meet traders’ changing needs and preferences. Moreover, some forex brokers have also started increasing their trading fees, commissions and spreads for MetaTrader 4 users to offset the costs associated with maintaining an outdated platform.

Another factor is market analysis and updates. Traders require up-to-date information and insightful market analysis to make informed trading decisions. In contrast, MetaTrader 4 provides limited access to real-time data feeds and often fails transactional recording vital pieces of data that are necessary for sound decision-making.

Furthermore, other sophisticated rival platforms like TradingView or cTrader offer extra data visualization tools such as charting tools, customizable dashboards, overlying indicators that MetaTrader 4 does not have.

The rise in popularity of alternative trading platforms has been quick, as newer brokerages have started including these alternatives in their offerings beyond MT4 and MT5 options. These trading platforms boast innovative features and modernized designs compared to the earlier two versions being offered by each system alone.

A True History about the heading: Many traders worldwide found themselves disappointed when MetaQuotes announced that it would no longer support its iconic MetaTrader 4 platform on Windows XP operating systems back in April 2017. Being one of the most popular operating systems used by clients worldwide made it a significant blowback that caused several frustrated customers who were left with no choice but move towards available alternatives with equally beneficial rates named “TradingView” or “cTrader“.

Stick with MetaTrader 4 for the community, but switch for the tech.

Pros and Cons of Continuing to Use MetaTrader 4

In this section, we will explore the advantages and disadvantages of using MetaTrader 4 for trading.

  • Pros:
    • Offers a wide range of trading indicators for better analysis of market trends.
    • Easy-to-use interface suitable for traders of all experience levels making it an excellent platform for traders who are new to the market.
    • A large number of brokers provide access to the platform, ensuring traders have plenty of options to choose from.
    • A massive online community with an abundant source of resources for trading education and support.
    • Availability on multiple devices such as mobiles, desktops, and web ensures that traders can trade on their preferred device.
  • Cons:
    • The platform can be slow while processing complex tasks at times, leading to laggy performance causing limited efficiency during high-frequency trading.
    • The platform does not permit hedge trades which restricts margin requirements intending to trade hedged positions simultaneously on both buying and selling markets.
    • With constant updates and patch releases, it becomes tedious for users to regularly update their software manually resulting in add-on compatibility issues affecting the user experience.
    • No flexibility in building automated trading strategies making it challenging for proficient coders or experts looking for more advanced tools or interfaces.
    • Slim customisation options compared to other platforms making harder selling decisions at times (for example, you cannot change more than one order parameter simultaneously).

However, while some may argue that MT4 is becoming obsolete due to the rising popularity of newer platforms such as MT5 or cTrader, it remains widely used by many institutions worldwide. Using MT4 can encourage traders to formulate a productive trading strategy alongside the platform.

Pro Tip: Ensure that you comply with the current hygiene standards for software development while using MT4 by regularly updating MT4 builds and custom indicators to ensure an error-free trading experience every time.

Looking for alternatives to MetaTrader 4? Explore the world of forex liquidity, volatility, spreads, swaps, margins, leverage, risks, and profitability with these MT4 alternatives.

Alternatives to MetaTrader 4

Alternatives To Metatrader 4  - Is Metatrader 4 Obsolete?,

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We’ve got two main sections for exploring alternatives to MetaTrader 4. These sections focus on forex liquidity, volatility, spreads, swaps, margins, leverage, risks and profitability.

The first section offers an overview of other trading platforms for currency trading, financial markets and other relevant tools.

The second section helps you choose the best trading platform for you. It covers comparison, tech, reliability, efficiency, customisation, experiences, advantages, disadvantages, challenges, opportunities, trends, innovations, evolution and future.

Overview of Other Trading Platforms

Trading platforms play a crucial role in financial markets and forex trading. Along with MetaTrader 4 and 5, there are numerous other trading platforms available. These platforms allow traders to access the global forex market, analyze charts, execute orders, and employ various trading tools.

One such platform is cTrader which offers advanced charting features, order execution speed, and allows users to customize their interface according to their preferences. NinjaTrader is another platform that integrates with over 100 different brokerage firms and provides access to a diverse range of markets.

Interactive Brokers’ Trader Workstation (TWS) also offers a robust suite of trading tools along with access to over 135 markets across the world. The thinkorswim platform by TD Ameritrade provides sophisticated charting features as well as access to a wide range of assets including stocks, options, futures, and forex.

In addition to these platforms, there are many more available in the market each catering to specific needs. A trader should choose a platform that offers fast trade execution speeds along with advanced analysis tools relevant for their trading style. Ultimately, the right choice depends on each trader’s specific needs and preferences.

A common factor among all these platforms is that they strive to provide traders with an edge in the currency trading realm by offering smart order routing systems that guarantee prompt order execution without slippage or delayed information dissemination strategies. By testing out different platforms and using them simultaneously one can have flexibility and make educated decisions when it comes down to choosing which may work best for individual trades or clients.

Choosing the right trading platform is like selecting a partner – you need to consider compatibility, reliability, security, and flexibility to ensure a successful relationship in the fast-paced world of trading.

Choosing the Right Trading Platform

Selecting the perfect trading platform is an intricate process that requires careful consideration and analysis. To ensure a successful trading experience, several factors should be deliberated, including:

  • trading platform comparison
  • trading technologies
  • trading security
  • trading reliability
  • trading efficiency
  • trading speed
  • trading flexibility
  • trading customization
  • previous positive or negative trading experiences

While choosing the right platform also depends on personal needs like experience level and preference of asset classes. Moreover, it is essential to analyze support services offered by each platform because any platform may have significant issues at critical times.

It is worth mentioning that over the years various systems have been developed to cater to traders’ needs better. Therefore it’s crucial to keep up-to-date with changing trends and innovations in technology as updated platforms offer the best features providing advanced tools for efficient market analysis.

The history has revealed many great examples where traders have made huge losses due to the use of inappropriate platforms that failed them critically when needed in unpredictable market conditions. Hence thorough research before investing time and money on any particular platform will be beneficial in achieving success in this field.

Other important aspects of trading to consider include:

  • Trading Advantages and Disadvantages
  • Trading Challenges and Opportunities
  • Trading Innovations and Trends
  • Trading Evolution and Future

Five Facts About “Is MetaTrader 4 Obsolete?”:

  • ✅ MetaTrader 4 was released in 2005 and has been a popular platform for forex trading for over 15 years. (Source: Investopedia)
  • ✅ The release of MetaTrader 5 in 2010 was meant to be a successor to MetaTrader 4, but it has not gained the same level of popularity. (Source: FXCM)
  • ✅ While some brokers have switched to MetaTrader 5, many still offer MetaTrader 4 as the primary trading platform. (Source: DailyForex)
  • ✅ MetaTrader 4 has a large community of traders and developers who have created numerous custom indicators and automated trading systems for the platform. (Source: Admiral Markets)
  • ✅ Despite its age, MetaTrader 4 continues to receive updates and support from its developer, MetaQuotes Software Corp. (Source: MetaQuotes)

FAQs about Is Metatrader 4 Obsolete?

Is MetaTrader 4 obsolete?

MetaTrader 4 is still a widely used and popular platform for forex trading. However, it is important to note that as technology and markets evolve, newer platform builds may offer more stability and updated features. It ultimately depends on the individual trader’s preferences and needs.

What is the ThinkMarkets platform?

The ThinkMarkets platform is a multi-asset trading platform that offers various features such as mobile terminals, multiple trading accounts, and access to market commentary. It is designed to provide traders with a comprehensive and user-friendly experience.

Can I rely on ThinkMarkets for investment advice?

ThinkMarkets provides market commentary and analysis, but it is important to note that this should not be considered as investment advice. Traders should conduct their own research and analysis before making any investment decisions.

What is ThinkPortal?

ThinkPortal is a portal for ThinkMarkets clients that allows access to various account management features, such as depositing funds, withdrawing funds, and managing personal information. It also provides access to educational resources and market analysis.

What types of trading accounts does ThinkMarkets offer?

ThinkMarkets offers a variety of trading accounts, including standard accounts, Islamic accounts, VIP accounts, and corporate accounts. Each account type has its own specific features and benefits, so traders can choose the one that best suits their needs.

Should I switch from MetaTrader 4 to the ThinkMarkets platform?

Whether or not to switch from MetaTrader 4 to the ThinkMarkets platform ultimately depends on the individual trader’s preferences and needs. Traders should consider factors such as their trading style, platform features, and overall trading experience before making a decision.

Phoebe Hall

I started investing and got involved with the money markets around 2019. This isn't a full time job for me, more so a hobby and an industry I'm incredibly passionate about. Alongside speculating within the markets, I write content financial blogs in the industry.

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