The topic of this video is about a question people keep asking me regularly.

That is if it still makes sense to learn and use Metatrader 4 and MQL4 or best to use and learn MQL5 exclusively?
If you look here you will see that I am still having a Metatrader 4 account and using MQL4. I have a real account with RoboForex which you can see here and it is a FixCent account. Now I click on the “About” tab and you can see that I have branded Metatrader 4 version released by Admiral Markets.
Let’s see the details. It is a version 4, 1090 of March 2017. I used to direct everybody to metatrader4.com. The website says: “Metatrader 4 is the most popular Forex trading platform”. I believe it’s still it is. Here you see the download link (Download Metatrader 4) so let’s click on it and now you see that this button here says: “Download Metatrader 5” the next generation platform. This is very strange! Everything on the site talks about Metatrader 4. Here is another button which says: “Download Metatrader 4”.
Alright. Let’s try that.
It is taking a few seconds to download. Now we got a file: “mt4setup.exe”, it looks okay. Let us run the file, the installation assistant pops up and here is a surprise! While reading the terms and conditions I notice it’s all talking about MQL5 and the Metatrader 5 platform.
Can you believe? This link here is downloading Metatrader 5 instead of Metatrader 4! Should you not double check and read you would have installed Metatrader 5! I cancel the installation and go back to metatrader4.com. And once again I am on the “Download Metatrader 5” site.
Now it is clear we no longer have a way to download Metatrader 4 from metatrader4.com.
Maybe we could use the Admiral Markets website, let’s try. This one says here: “Metatrader 4 for Windows” but when clicking on the button to download the website is asking for registration. Now I don’t want to do that and I think neither you are. So, you can just go to my website: mql4tutorial.com, click on “menu” and there you should see the download link: “Metatrader 4 Download” which allows you to freely download the Metatrader 4 platform without any hustle. Here I am already getting the right exe file, let’s run it. This one says “its Metatrader 4”. When checking the installation it is still talking about the MQL4 language and confirms we are to install Metatrader 4.
Now I can clearly confirm here that it would install Metatrader 4 which I will not do now because I already have one and don’t wish to overwrite that. Please feel free to use my download link.
Metatrader 4 and MQL4 is still very popular and I think it will be around for a while longer. After installing it please remember to switch on the auto update.
Next, let us go to the website of Forex Peace Army (www.forexpeacearmy.com) and see what they have to say about Metatrader 4. There is a lot’s of information here, including broker reviews which we are interested in now. Here is a list of 756 brokers for Metatrader 4. Now let’s see about Metatrader 5!
This is the list of brokers for Metatrader 5 and we can see that more brokers supports Metatrader 5 today.
Around one or two years ago only a dozen of brokers supported Metatrader 5.
Okay, how about release notes? The last version of Metatrader 4 is from May 2017. It seems to me that Metaquotes does not want to support Metatrader 4 any longer but many traders and brokers still want to stick with it.
I am using both MQL4 and MQL5. In case you wish to find out if MQL4 or MQL5 is the better choice for you just try my free MQL5 email course, click on: www.mql5tutorial.com to subscribe so you can get your own experience.
Actually I like both versions. I think MQL4 is a little easier to learn but MQL5 has few advantages. For example: I am running a back-test here in Metatrader 4 and I have to import historical data into the “History Center” for every single currency pair I want to test, which is really time consuming and a hustle. In Metatrader 5 I don’t have to do that.
That’s a strong advantage but regardless, MQL4 and Metatrader 4 are still around and they work fine, thus you can compare them and decide for yourself.