Tom Higgins is the Founder and CEO of Gold-i with experience in financial technology spanning over 25 years. With an in-depth knowledge of the trading technology industry, Tom set up Gold-i in 2008 after spotting a gap in the market to enhance the FX trading process for retail brokers. As the inspiration and driving force behind Gold-i, Tom has played a major role in disrupting the retail FX and Crypto market, giving opportunities to brokers/exchanges across the globe. Now extending the firm’s focus to the institutional market, he uses his market insight to continue to drive innovation.
MT4 vs MT5 - Should You Make The Swap?
Since its launch way back in 2005, MT4 has undeniably been the front runner and most popular platform amongst traders and consequently is offered by most FX brokers. The momentum of its success led it to become the industry standard but even though there is a lot of good stuff going on, it does have its limits.
MT5 on the other hand was launched just 5 years later in 2010, designed to trade new markets beyond FX, through a centralised exchange such as stocks and commodities but this platform didn't end up having the same boost of popularity as its predecessor.
So, what's the difference?
MT5 is architecturally a better platform, it is scalable and has no hard limits. It is an all-in-one multi-asset trading platform that offers superior tools for comprehensive price analysis, use of algorithmic trading applications and copy trading.
Traders are also very comfortable with using MT4. It is stable, it is available, and it works. As MT4 is also already installed on millions of computers globally it can be seen as difficult for brokers to make the switch from MT4 to MT5, but it definitely can come with a wealth of benefits long-term.
It is important to note that MetaQuotes no longer allows new brokers to offer MT4 and has removed it from the marketplace entirely. Support is still provided to existing MT4 customers, but the monthly fee has been increased. However, if MT4 is still your preference, there are white-label options available from technology providers such as Gold-i.
What advantages does MT5 offer brokers?
1. More markets, better features
2. Better control (fewer third-party plugins and increased customisation)
3. Gateway liquidity solution
We can help you make the switch. MT5 is the future MT4 is the past, let us help you make that move.