Both MetaTrader 5 iPhone and MetaTrader 4 are suitable for Forex trading because the main purpose of these apps is to give users an excellent set of tools necessary for trading, earning profits, and controlling the market situation anywhere and anytime. But MT4 and MT5 applications have different parameters.
MT4 vs. MT5 iPhone App
MT4 application for iPhone opens access to more than 350 forex brokers. MT5 has less variability. This is because MT4 iPhone has been around longer, so more brokers are familiar with it and use it often out of habit. Here are the important options:
- Quotation in real time;
- Complete trading history;
- Helpful detailed charts.
MetaTrader 5 allows you to freely control your trading account, analyze the market, and use numerous technical indicators. The app is free to download for iPhone and has more visualizations and graphs. Features of MT5 for iOS:
- Built-in tools for technical analysis;
- Access to all pending and trading orders;
- Any kind of trade can be practiced;
- Built-in markets for special indicators.
MetaTrader 5 is a modernized and improved mobile platform for Forex trading. It is easier to use than MT4, but both versions allow you to make great money on Forex and use the most useful functions. The main reason why traders choose this or that application lies in who is used to what. However, they both deserve attention.
How to start?
You will need a real trading account to make money on Forex. For this, the user agrees with the broker. Account access can be set up with the same password and login that you use on your iPhone or Mac.
If you do not yet have enough experience to trade for real money, use a demo account. It will provide an opportunity to practice, form a trading strategy, and explore the potential and functions of the application.
How to download and install MetaTrader?
The application is available in the App Store. Find it using the search box and click ”Download.” After installation, you can immediately log into your account or open a demo account. You can also download the platform to your tablet: a separate iPad version allows you to take advantage of the larger screen while offering identical functionality.
MetaTrader mobile app benefits
When you download the MetaTrader 4 iPhone or MT5 app, you can view real-time financial instrument quotes, trade from charts, execute trades, and view full trade history. In both cases, you will receive push or sound notifications about important changes and news and useful materials that will help you earn more.
Timeframes, three types of charts, analytical objects such as shapes, lines, Fibonacci and Elliott tools, etc. will be available to you. Trade the currency markets directly from your phone and never miss an opportunity to get the profits you deserve.
Coffee enthusiast. Travel scholar. Infuriatingly humble zombie fanatic. Thinker. Professional twitter evangelist.