Thoughts on MT5?

[Rambo35]

I wanted to ask you guys what your opinion is on MT5? I have tried it, and I must say that in general I do not like it the least bit. I wonder why MT decided to take a decent platform (MT4) and turned it into something of lesser value? Has anyone else tried the platform?

While most retail traders still trade on MT4 and will likely do so for a bit longer I begin to wonder if everyone will eventually be forced to migrate over to MT5. I hope they will continue to work on MT5 and improve it as I am sure they will lose business if they do not. Of course MT creates platforms for brokers, but brokers need to offer a platform traders like to use which I think they have done a pretty good job with MT4.

 

[Giovan]

I wanted to ask you guys what your opinion is on MT5? I have tried it, and I must say that in general I do not like it the least bit. I wonder why MT decided to take a decent platform (MT4) and turned it into something of lesser value? Has anyone else tried the platform?

While most retail traders still trade on MT4 and will likely do so for a bit longer I begin to wonder if everyone will eventually be forced to migrate over to MT5. I hope they will continue to work on MT5 and improve it as I am sure they will lose business if they do not. Of course MT creates platforms for brokers, but brokers need to offer a platform traders like to use which I think they have done a pretty good job with MT4.

I second you on this, MT5 is horrible- at times you end up closing orders instead of modifying them. better to modify Mt4 and make it a transition between the two platforms.......maybe MT4.5?

 

[perox]

I second you on this, MT5 is horrible- at times you end up closing orders instead of modifying them. better to modify Mt4 and make it a transition between the two platforms.......maybe MT4.5?

Good idea Giovan. I am also a die hard fan of MT4.

However I don't think they will build another system nor remove Mt4.

 

[Rambo35]

Good idea Giovan. I am also a die hard fan of MT4.

However I don't think they will build another system nor remove Mt4.

I hope they will not eventually force everyone to migrate.

 

[robertofx]

I hope they will not eventually force everyone to migrate.

Probably.

Bet there will be more alternatives like web traders.

 

[wackypete2]

I wonder why MT decided to take a decent platform (MT4) and turned it into something of lesser value?

It was done to comply with all the new USA regulations, ie, no hedging, FIFO, etc. Unfortunately, Metaquotes is trying to stuff the thing to the rest of the world who don't care about the US regs.

Peter

 

[Rambo35]

It was done to comply with all the new USA regulations, ie, no hedging, FIFO, etc. Unfortunately, Metaquotes is trying to stuff the thing to the rest of the world who don't care about the US regs.

Peter

That is what I thought when they got rid of hedging, thanks for confirming it I think it will eventually backfire if they get rid of MT4 and only support MT5 as no trader wants to trade based on the idiotic US regulations the CFTC imposed. I hope they keep both around.