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About platform MT4 or MT5
i am beginner of this business i want to something from expert what's the best platform MT4 or MT5 and what's the difference between them ?
Metatrader 4 and Metatrader 5 are two totally different products !
Tip - use a (non US rule) broker to safe you $$$$$$
Metatrader5 is setup to get a bigger marketshare
Additional Markets via MT5 stocks NASDAC NYSE
metatrader5 uses The United States No Hedging Rule
What is this No Hedging rule?
The NFA is an organization in the US that safeguards market integrity on the Futures, Forex, Swaps, etc. markets.
The No Hedging rule is NFA Rule 2–43B: Offsetting Transactions which states:
Forex Dealer Members may not carry offsetting positions in a customer account but must offset them on a first-in, first-out basis. At the customer’s request, an FDM may offset same-size transactions even if there are older transactions of a different size but must offset the transaction against the oldest transaction of that size.
This rule is also sometimes called the FIFO rule (first-in-first-out) and it was adopted in May 2009. Prior to that you could hedge your transactions when trading Forex in the US.
MQL4 vs MQL5
Many years people where happy and used to trade their way with
their own Expert Advisors.
So You paid for somebody to transform your trade ideas into a great Expert Advisor
but now suddenly in MT4 it does not compile anymore.
The trick was to force everybody from 4 to 5
Metatrader 4 users do not like to be told shit
to be forced into US rules
Old metatrader Expert Advisors need to be rewritten to compile to the new >600 build compiler
this is no biggy just annoying to rewrite it all in to the new MQL setup
If you need help with old EA MT4.exe (until compiler 503) to be rewritten I can help
Nic
exact agree with You !
The UK, Australia, Europe, and pretty much the rest of the world don’t care about the No Hedging rule. So why would traders in these countries even consider switching to MT5 if it imposes US regulations onto them, when they don’t have to obey these regulations?
fair to mention the advantages that this platform has over MT4:
1) Multi-currency strategy tester; and
2) MT5 is superior for testing and optimization as a hundreds times faster.
but then again I use python, mathlab, R to test any idea even better.
MT5 is a TOTAL OTHER us law restricted program not backward compatible with MT4
beginner and also expert programmers/traders are advised to
use Metatrader4 !! and learn MQL 4 !!
If You want help being stuck with your old EA's or if You
want to work on a new idea to transform this into an Expert Advisor then you can contact me
Nic
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