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Forex & CFD trading is not the same as it was ten years ago. It has evolved drastically and changed the way the world trades.
Trading platforms surfaced in the late 1990s. Back then, developers produced very special software for trading. Those were trading platforms, or as some of us refer to it – the so-called trading terminals. They paved the way to the growing popularity of retail trading and offered many people access to financial Forex & CFD trading.
Lately however, trading platforms have started to offer trading on cryptocurrencies. Bicoin, Ethereum, Ripple are some of the most popular instruments in the world of evolving cryptos.
MetaTrader 4 (MT4) by MetaQuotes Software Corp has been very popular for over ten years
MT4 is a mobile platform. By saying that, we refer to trading not only on the computer, but also on smartphones and tablets. MT4 is implemented as form of three different types: desktop, mobile, and browser.
If you open an order on your computer, you can easily manage it from your tablet via the mobile version for Android/iOS devices. All data will be displayed correctly. The main point with the browser and mobile platform is that you are time and place independent. You are always able to check the account or opt to close an order at any time from any device that is connected to the Internet.
On MT4, the exchange of information between you, the terminal, and the platform servers is encrypted with 128-bit keys. The platform also supports an enhanced security system based on RSA – an asymmetric encryption algorithm.
This is new generation stuff. One of the major benefits of the MT5 platform is that traders are not restricted to using only the built-in analytical resources, such as MT5 tables, indicators, and graphs. Owing to MQL5, an object-oriented and a high-performance programming language, traders are able to create their own technical indicators.
MT5 is faster than MT4. It doesn’t slow your platform and so has become popular for not having any hiccups or freezes. It is a fully fledged 64-bit, multi-threaded platform, whilst MT4 is a 32-bit, mono-threaded platform with a 2GB (or 4GB memory limit if you use it on a 64-bit operating system).
According to many, MT5 being the latest version of the software runs excellent on 64-bit operating systems whereas MT4 is ideal for 32-bit operating system. You will need the set-up execution file to install the software. It is important to note that MT5 can run on the 32-bit operating systems, too.