What if the new MT5 comes along?

[widhie75]

They have been beta testing MT5 for at least these past 2 years and even though some brokers are offering them to clients, as far as I know, traders will still have a choice between the MT4 & MT5 as their trading platform.

So no cause for panic...for now!

Yup,,, no need to panic.
MT4 is still the best in performance,,, also many people seems love MT4 because many EA still programmed under MQL4 code.....

If a broker only provide MT5 only, I'm sure that broker will only have small amount member... I'm sure no broker don't want this condition (maybe except US Regulated broker).

[ilearn2t]

Hello all

What mt5 gives you:

Advanced built-in reports on all trading activities.
Trading operations on different markets.
3 chart-types, 21 timeframes and over 70 analytical tools.
5 order types and 4 execution modes available for trading.
EA execution speed will increase.

All NFA regulated Forex brokers in US will make the transfer, as they have to comply with new NFA rules.

But as "widhie75" states, custom indicators and EAs (.mq4 and .ex4 files) won’t work on the MT5 platform.

But if a enable/disable hedging function could be added and simply use new coded EA's would your broker stay with MT4. I wonder?

Safe trading
ilearn2t

[widhie75]

Hello all

..........
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But if a enable/disable hedging function could be added and simply use new coded EA's would your broker stay with MT4. I wonder?

Safe trading
ilearn2t

I think, if hedging/locking function enabled in MT5,,,then MT4 will be replaced by MT5.... but I doubt about this issue, because as far as i know MT5 is using for US Regulation.

So it might Metaquotes have plan to make all brokers in the world are using and supporting MetaTrader 4 & 5 (domination is very usual in business)...whatever country & broker regulation.

But it also might be that MT4 replaced by MT5,,,, IF US regulation changing their rule about FIFO order & hedging/locking.

[ilearn2t]

Hello widhie75

Sorry for my mislead reply, the lock/unlock controled only by the broker.

But I do have another question, I'm can't remember but what happens if you place a Buy order on the same pair already opened as a Sell order, is both removed and you lose both orders including new pairs spread price or if a Sell order is already open does the Buy function become disabled. Just for us who sometimes hit the wrong tab now and again while placing orders?

ilearn2t

[RahmanSL]

For those interested to know what MT5 can & cannot do, go over to 100 Forex Brokers site and check out the section "MT5 - Facts, Questions and Answers" given by Renat Fatkhullin, Founder and CEO of MetaQuotes Software Corp. for in exclusive interview with 100Forexbrokers.comAn.

Hedging in MT5 has apparently been disable and that would be so very inconvenient for most traders.

For me, as I have posted, I will hide my MT4 and carry on trading with that.

[widhie75]

Hello widhie75

Sorry for my mislead reply, the lock/unlock controled only by the broker.

But I do have another question, I'm can't remember but what happens if you place a Buy order on the same pair already opened as a Sell order, is both removed and you lose both orders including new pairs spread price or if a Sell order is already open does the Buy function become disabled. Just for us who sometimes hit the wrong tab now and again while placing orders?

ilearn2t

I use MT5 for analysis (using server MetaQuotes-Demo).
I try to sell AUDJPY at price 83.275 but market going up & then I buy AUDJPY with same lot (both buy-sell using 1 lot) at price level 83.334......When I try to lock these AUDJPY, all order are closed immediately and result is loss -$75.65

All buy-sell button are still available, nothing disable.

For those interested to know what MT5 can & cannot do, go over to 100 Forex Brokers site and check out the section "MT5 - Facts, Questions and Answers" given by Renat Fatkhullin, Founder and CEO of MetaQuotes Software Corp. for in exclusive interview with 100Forexbrokers.comAn.

Hedging in MT5 has apparently been disable and that would be so very inconvenient for most traders.

For me, as I have posted, I will hide my MT4 and carry on trading with that.

I rather confused differentiate between hedging & locking.
but in this case above, I can see hedging/locking is not allowed in MT5..... and it's definitely use for US regulation.

[FXOpen Manager]

Yep, no locking available at MT5, as it was created to fulfill NFA requirements.

[ilearn2t]

Hello widhie75 & FXOpen Manager

Thanks for the feedback.

ilearn2t

[ngepet dolar euro]

Yup,,, no need to panic.
MT4 is still the best in performance,,, also many people seems love MT4 because many EA still programmed under MQL4 code.....

If a broker only provide MT5 only, I'm sure that broker will only have small amount member... I'm sure no broker don't want this condition (maybe except US Regulated broker).

BUt MT5 use a more newer programing language so its must be have more better fitur and performance, in my opinion its just about time before MT5 becoming famous more than MT4 trading platform. This will be happend when alot of indicator that previously used in MT4 can be compailed to mt5.

[Olga_94]

Nice! Just wanted to respond. I thoroughly loved your post. Keep up the great work on forum.fxopen.com .

[FXOjafar]

BUt MT5 use a more newer programing language so its must be have more better fitur and performance, in my opinion its just about time before MT5 becoming famous more than MT4 trading platform. This will be happend when alot of indicator that previously used in MT4 can be compailed to mt5.

The problem is though that you would be forced to trade under US law. It would drastically change the way you are allowed to trade. Fifo for example :/

[ngepet dolar euro]

The problem is though that you would be forced to trade under US law. It would drastically change the way you are allowed to trade. Fifo for example :/

Yeah this is disadvantages of USA that embedded to MT5.. I do not know what exactly the reason of US goverment forbit hedging an higher leverage above 1:50. Is this good or bad for us?

[CCC000]

do any thing but let us not to down to US law because it will cause so much trouble to small capital traders

[RahmanSL]

Don't worry CCC000, just don't live in the US.....and also, if a none US based (and regulated) broker is to follow what the NFA has imposed on their US brokers, it would amount to committing suicide, so again, don't loss sleep over that thought either.

[CCC000]

everyone will committe suicide
for real i am just amazed why some trade go to US brokers !
just why ???