What is metatrader

What is MetaTrader

MetaTrader is a trading software that is most commonly used amongst forex traders as their trading platform. Posing similarly as a connecting channel between currency trading systems and your computer (or mobile device), and so MetaTrader is the link. Let’s take a look at the MetaTrader in review.

There are two versions of the MetaTrader Platform:

  1. MetaTrader 4 – Available on desktop, mobile and web
  2. MetaTrader 5 – Available on desktop, mobile and web

Either platform you choose, one can run multiple platforms where you will not experience a lagging effect on your server or computer. The software is light and will not overload the systems in place, making for fast trading and immediate executions, a must when trading on the volatile markets.

Trade with Friedberg Direct and open MetaTrader account today for instant market access!

Why trade with the MetaTrader Platform?

Besides being easy to download and install, MetaTrader has many trading capabilities and features which other platforms lack. Follow instrument price fluctuations and examine the trading charts and graphs, while plotting the trends to locate your planned trades. The platform showcases and supports the following graphs: Candlestick, Heikin Ashi as well as Renko charts.

Setting up your trading orders is simple and predefined stop losses and targets are executed immediately. The trailing stop loss and pending orders are just as easily accessed.

Learn from your mistakes, the platform offers a functionality of convenience to view your trade history:

  1. Download your historical trading data per currency pair
  2. Create / request detailed reports on the positions you take
  3. Track past charts and graphs to keep a summary of trends per instrument

With these features the Metatrader 4 is really enough for forex trading however for more advanced strategies the MetaTrader 5 would be the alternative option.

MetaTrader 4 in forex trading

MetaTrader 4 (MT4) is the world’s most popular trading platform that offers all you need for online trading on one interface. On the single platform you will find a powerful combination of analytical technologies and leading trading tools that allow traders to implement even the most complex trading strategies.

Trade with Friedberg Direct and open a MetaTrader account today for instant market access!

The MQL Language:

Developed by MetaQuotes Software Corp. the MetaQuotes Language is a script that is built-in for programming specific trading strategies. The purpose of the way these scripts are written is to customize technical indicators, libraries and scripts.

One can also analyze large amounts of information and assists users in orientating themselves easily in the expert systems.

Each program (pertaining to MetaTrader 4 and MetaTrader 5) has different features and purposes:

MQL4 and 5

Custom Indicators:

In addition to technical indicators already written into the system, you can write your own technical indicators independently.


Scripts are imposed when traders want a single execution in an action. They are only acceptable for the start of an event and cannot process any other trade actions.


This is a set of custom functions that is intended to store and distribute the same used parts of the program.

Trade with Friedberg Direct and open a MetaTrader account today for instant market access!

What is MetaTrader 5?

MetaTrader 5 (MT5) is the newest iteration of the popular MetaTrader platform. While the number sequence lends the belief that MT5 is an upgrade to MT4, this is actually not necessarily the case.

Both MT4 and MT5 are trading platforms with backtesting capabilities as well as graphical interfaces that look fairly similar. By design, however, MT5 was meant to meet the needs of non-forex and U.S. markets in a manner that MT4 could not. Essentially, MT5 is not necessarily better than MT4, but rather just different.

Here are the different features that the MT5 platform offers in comparison to its older sister MT4:

  • New Order Types

The MT5 platform has two additional order types that are not available on its predecessor. These are ‘buy stop limit’ and ‘sell stop limit’. Additionally, MT5 also supports partial order filling policies.

  • Added indicators and widgets

MT5 has 8 additional built-in indicators and 13 more graphical objects than MT4. This means that traders can perform more in-depth technical analysis in the financial markets using MT5.

  • Economic Calendar

MT5 has an integrated, comprehensive Economic Calendar tab that shows news release schedules, the impact levels, previous data, and market consensus.

  • Improved Strategy Tester

MT5 features a multi-threaded strategy tester that has noticeably faster execution speeds when testing programmed trading strategies. In addition, featuring an Agent Manager that enables remote optimisation, the MT5 strategy tester also allows for concurrent multi-currency pair backtesting.

  • Timeframes

MT5 has 21 timeframe charts, which is exactly 12 more than is available on MT4. This can give traders more room for performing deeper analysis of their favourite assets.

  • Funds Transfer

Traders can easily transfer funds between accounts on MT5 if the accounts are within the same server. This helps to streamline processes, offering clients convenience and flexibility.

  • Market Depth

By hitting the ALT+B buttons, traders can view the depth of markets, which is a graphical representation of bids and offers of an underlying financial asset, depending on trading volume. This is a functionality that can allow traders to execute trade orders at the best prices possible.

  • Netting

MetaTrader 5 supports the netting accounting system that allows only one position to be held for any particular financial asset.

  • Email System

The MT5 email system supports the sending of emails with attachments.

  • Tradable Assets

Alongside forex and CFDs, traders can also trade stocks, futures, bonds and options on the MT5 platform. MT5 has an expanded instruments list of over 1,000 assets compared to the average 250 on MT4.

Trade with Friedberg Direct and open a MetaTrader account today for instant market access!

MetaTrader 4 vs MetaTrader 5

The relatively recently launched MetaTrader5, is not that much different from its prototype MT4, even though it is advertised as substantially more advanced. The features you will find are: more advanced charting systems as well as deep analytical tools.

Even though the MT4 is more than enough of a platform for the forex trader, if these two functions will improve your trading skills then MT5 would be the way to trade.

MT4 is still the most widely used and downloaded platform and traders are satisfied with its current abilities, hence not feeling a need to change / upgrade.

MT4 VS MT5 Features
Availability to brokersVery popularVery popular
User-friendly and easy to navigateExtremely easyExtremely easy
Roll-over and HedgingPossiblePossible
Programming Language usedMQL4MQL5
Number of order execution types34
Number of Pending Order Types46
Depth of MarketNoYes, but not available from beginning
Technical Indicators3038
Economic CalendarNot AvailableAvailable in MT5 apps
ReportsTables onlyTables + Charts
Everything can be exported to Excel
Open Trades ViewLots onlyLots, Quantity + Milliseconds
Docked ChartsNot availableAvailable
Market WatchLess detailedMore details + easy navigation
Partial Order FillingNot availableAvailable
Email SystemNo attachmentsWith attachments
Strategy TesterSingle threadedMulti-threaded + Multi-currency + Agent manager
NettingNot supportedNot supported
Exchange TradingNot supportedNot supported
Funds Transfer between AccountsNot supportedSupported

Trade with Friedberg Direct and open a MetaTrader account today for instant market access!

Which MetaTrader Platform Should You Choose?

The fact is, this will depend on your personal preference. MT4 is pretty much the gold standard in forex trading, and its popularity among traders globally underlines its stability, reliability and ease of use. It remains the best choice for beginner traders and it is the perfect illustration that ‘less is more’.

On the other hand, MT5 is obviously the more versatile platform with numerous additional features, which can help the more experienced trader to perform even deeper analyses on their favourite financial assets as well as conduct faster and more exhaustive strategy testing of their trading strategies. All in all, whichever platform you choose, Friedberg Direct has got you covered.

Why trade with Friedberg Direct and Metatrader:

There are a number of reasons that thousands of traders have chosen to trade with Friedberg Direct, offering the MT4 & MT5 is very well one of them among others:

Leveraged trading

Leverage up to is offered to all new traders that register with us. The leverage is one of the highest in the industry that a regulated broker can offer.

Fully Regulated Broker

With multiple awards being won, including the Best broker award, we also boast over 40 years of industry experience and have Canadian regulatory approval.

More Markets

Over 250 assets to trade on. Variety of the most popular instruments including forex, commodities like gold and oil, indices & individual stocks

Deep Analysis

Enjoy more than 30 advanced charting & analytical tools, including trading strategy back-testing on the MT4 & MT5.

Flexible Conditions

Competitive spreads to trade on the most popular assets in the industry.

Mobile Trading

Trade MT4 on your tablet or mobile phone with our free Android & iOS trading apps

Full Support

Get free daily market analysis, quality education materials and live technical support 24/5 when the markets are at their best.

Trade with Friedberg Direct and open MetaTrader 4 account today for instant market access.

What is Metatrader FAQs

  • How do I open an MT4 trading account with Friedberg Direct?

    Getting your own MT4 demo or live account is quite easy. Simply register for an account in a few minutes, then head over to the MetaTrader 4 page on our website, where you can download the MT4 platform. When you launch MT4 you can enter either your demo or real account credentials (these are sent to you via email when you register) and log into the platform. From there you can access all the powerful features MT4 has to offer.

  • Can I use the MT4 platform on my smartphone?

    MT4 is a cross platform application that can be downloaded for desktop use, accessed as a web trader in an internet browser, or installed as an application on your mobile device. There are mobile versions for both iOS and Android operating systems, so you can have the power of MT4 in your pocket no matter which device you use. Plus, the versions will all synch with each other, so when you place an order on your PC version of MT4 in the morning you can go in and modify it later in the day on your smartphone.

  • Is the newer MT5 version better than the MT4 version?

    Both MT4 and MT5 are the official versions created and distributed by MetaQuotes Software. The new MT5 version is considered to be superior for stock trading and order management, while the older MT4 platform is considered to be superior for forex trading. As a matter of fact, most retail traders will notice little difference between the two platforms. They both provide the basic trading functions and features needed to trade successfully.


These FAQs, comments/analysis do not take into consideration your individual personal circumstances and trading objectives. Therefore, they should not be considered as a personal recommendation or investment advice. They are intended for educational purposes only. Past performance is not indicative of future results. There is no guarantee that the contents or instructions will result in profits or not result in losses.