In another step towards the replacement of MT4 by the renewed MT5, MetaQuotes company has just announced that it will no longer market the MT4 platform. Before panicking, you should know the details of the announcement. Who does it affect? What is the impact on trading in general? What should you do so that your trading is not harmed? This article answers these and other questions.
|Is MT4 really in danger of extinction?|
|Most of my trading programs are for MetaTrader 4. Can I not use them from now on?|
|Should I convert my MetaTrader 4 programs to MetaTrader 5?|
There is no doubt that, despite the years of glory that MT4 has given to MetaQuotes, this company is betting heavily on replacing its “old classic superstar” with a modern and young “pop star”, MT5. The benefits, superior features, and greater versatility of the gleaming platform have not managed to seduce a large number of MT4 users by themselves. So MetaQuotes has decided to ‘force’ the transition from MT4 to MT5. In this sense, they have accompanied the improvements in the MT5 functionalities -like the implementation of hedging and others-, with a gradual abandonment of MT4. Thus, the last update of MT4 is the build 1310, that dates from November 26, 2020 (check it here).
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Is MT4 really in danger of extinction?
If you want, you can save a screenshot of the MT4 terminal to show it to the little ones in 60 years, but we do not believe this will be necessary. A trading platform as popular and as widely used as MT4 cannot be removed from one day to the next, not even by its own creators. Of course, the power of the big corporations – banks, brokers, the own MetaQuotes – can induce greater use of MT5 to the detriment of MT4, but those who will have the last word will be the traders. If most traders continue to use MT4, there will always be someone interested in satisfying their will and providing them with the necessary tools.
Most of my trading programs are for MetaTrader 4. Can I not use them from now on?
Do not get rid of your programs for MT4. Metaquotes has made clear that they will not limit the current use of MT4. Brokers will also not want to get rid of their portfolio of customers used to trading with MT4. So far, there is simply talk of stopping the support and evolution of MT4, not of hindering the current use of this platform.
Should I convert my MetaTrader 4 programs to MetaTrader 5?
It does not have to be from one day to the next but in the medium term, this would be an intelligent decision. You should not be afraid of the transition from MQL4 (MT4 programming language) to MQL5 (MT5 programming language). Adapting our trading tools to a more powerful, robust and flexible platform is not only correct but is recommended. In this way, we would be able to operate on both MT4 and MT5 platforms, and our trading would not be interrupted if one of these options were not available for any reason.
In that sense, keep in mind that our team of excellent MT4 programmers can help you throughout the process of migration from MT4 to MT5.