ThreeTrader offers both MT4 (MetaTrader4) and MT5 (MetaTrader5), popular trading tools used by traders worldwide
Both are high-performance platforms, but they differ in features, ease of use, and supported brands
This article provides a clear comparison of the features, advantages, and disadvantages of MT4 and MT5, both compatible with ThreeTrader, and explains in detail which one you should choose
Contents
- 1 Basic MT4/MT5 usage with ThreeTrader
- 2 Advantages and disadvantages of using MT4 with ThreeTrader
- 3 Advantages and disadvantages of using MT5 with ThreeTrader
- 4 Comparing the features of MT4 and MT5
- 5 Installation procedure for MT4 and MT5 using ThreeTrader
- 6 How to choose between MT4 and MT5 in ThreeTrader
- 7 Frequently Asked Questions about ThreeTrader's MT4 and MT5
- 8 summary
Basic MT4/MT5 usage with ThreeTrader
ThreeTrader supports both the popular trading platforms MT4 and MT5
Here, we'll explain the features of MT4 and MT5 in an easy-to-understand way
Features of TheeTrader's MT4
MT4 is a classic trading platform that has been used and loved by many traders for many years
The features of MT4 are as follows:
- Timeframes: 9 types
- Standard indicators: 30 types
- Drawing objects: 24 types
- There is an overwhelmingly large variety of EAs and custom indicators
Because it has been released for a long time, a large number of EAs (Expert Advisors) with programmed automated trading strategies and custom indicators that allow users to freely add indicators and functions are available online
The high degree of expandability provided by these EAs and custom indicators is a key feature of MT4
Features of ThreeTrader's MT5
MT5 is a next-generation trading platform that is an evolution of MT4
Its key features include lightweight operation, significantly expanded analytical capabilities, and a wider range of trading targets
The features of MT5 are as follows:
- Timeframes: 21 types
- Standard indicators: 38 types
- Drawing objects: 44 types
- Market order status can be visualized using order book data (Depth of Market)
- ThreeTrade allows trading of stock CFDs (US stocks and Japanese stocks)
ThreeTrader supports trading in FX, as well as US stocks, Japanese stocks, precious metals, and energy CFDs
MT5 boasts high processing speed and a high degree of flexibility in chart analysis. You can analyze the market across multiple timeframes and use drawing tools to analyze price movements in detail
MT5 supports EAs (Expert Advisors) and maintains stable operation even when multiple charts are open simultaneously. It is a suitable platform for traders who prioritize discretionary trading and advanced analysis
Advantages and disadvantages of using MT4 with ThreeTrader
The advantages and disadvantages of trading using MT4 with ThreeTrader will be explained in the following order
MT4 is a widely used and highly scalable trading platform. However, as part of the MetaTrader series, it has some minor usability issues because its successor, MT5, has been released
Advantages of using MT4 with ThreeTrader
The advantages of using MT4 with ThreeTrader are as follows:
- There are a very large variety of EAs and custom indicators
- Because it is used all over the world, there is a wealth of information available
- It's a complete trading platform, so it's stable
This platform boasts a long track record of operation and extensive customization options
For traders who use automated trading systems or custom indicators, the high degree of flexibility offered by MT4 is a particular advantage
There are a very large variety of EAs and custom indicators
Since its introduction in 2005, MT4 has seen traders around the world develop and publish their own EAs (Expert Advisors) and custom indicators
Since these can be freely implemented in ThreeTrader's MT4, you can build a wide range of trading strategies, from discretionary trading to automated trading
For example, by combining trend-following EAs and custom indicators that notify you of entry timings, you can create your own unique trading environment
Because it is used all over the world, there is a wealth of information available
MT4 is a very popular trading tool, and traders all over the world trade in the same environment
Therefore, plenty of information on setup methods, troubleshooting, and EA optimization .
ThreeTrader also provides detailed installation instructions and connection guides, making it easy for beginners to get started without any problems
Information exchange among users is also actively taking place on social media and forums
It's a complete trading platform, so it's stable
MT4 has become highly refined through years of updates and boasts excellent operational stability
ThreeTrader's server environment is stable, so you don't have to worry about losing your connection or freezing during trading
Even when running 24 hours a day using an EA, there are few problems, and stable performance can be maintained over the long term
Disadvantages of using MT4 with ThreeTrader
The disadvantages of using MT4 with ThreeTrader are as follows:
- There are few types of analysis functions and drawing tools
- Does not support order book information (Depth of Market)
- New instruments such as stock CFDs cannot be traded
- MetaQuotes is reducing the frequency of its updates
ThreeTrader's MT4 is a stable and scalable platform, but its design is outdated and it has some limitations compared to the latest trading environments
In particular, it's important to note that it has fewer features and a limited range of supported instruments compared to MT5
There are few types of analysis functions and drawing tools
MT4 is limited to 9 timeframes and 24 drawing tools
While basic chart analysis can be performed without any problems, those who want to observe the market across multiple timeframes or perform detailed chart analysis may find it lacking
MT5, with its wider range of timeframes (21 types) and drawing tools (44 types), is more suitable for traders who prioritize technical analysis
Does not support order book information (Depth of Market)
MT4 does not offer the "Order Book" feature, which allows you to check the depth and liquidity of orders in the market in real time
By using board information,While it's possible to see which price ranges are seeing a concentration of orders, this isn't possible with MT4, making it inconvenient for those who prioritize supply and demand balance in short-term tradingis
MT5, which comes standard with order book information, provides an environment where it's easier to read the depth of market liquidity
New instruments such as stock CFDs cannot be traded
ThreeTrader's MT4 account allows you to trade major currency pairs, including FX and precious metals, but not include stock CFDs or some emerging market instruments .
These instruments are offered exclusively for MT5, and MT5 offers more flexibility if you want to trade instruments other than FX
Those who prioritize multi-asset trading should consider migrating to MT5
MetaQuotes is reducing the frequency of its updates
MetaQuotes, the developer of MT4, is currently focusing on adding and improving features to MT5
MT4 is a mature platform,There are very few plans to add new features in the future
ThreeTrader can still use MT4, but from a long-term perspective, MT5 has advantages in terms of future expandability and support
Advantages and disadvantages of using MT5 with ThreeTrader
The advantages and disadvantages of trading with MT5 on ThreeTrader will be explained in the following order
MT5 is characterized by its high level of sophistication as a trading platform that succeeds MT4
Especially in discretionary trading, its responsiveness and various analytical tools far surpass those of MT4 and other trading platforms
On the other hand, it's important to be aware of drawbacks such as a lack of information available due to its limited scalability and age
Advantages of using MT5 with ThreeTrader
The advantages of using MT5 with ThreeTrader are as follows:
- High-speed processing enables stable transactions
- It has a wide range of analysis tools and drawing objects
- You can trade a wide range of instruments, including stock CFDs
- You can check the order status using the order book information (Depth of Market)
ThreeTrader's MT5 is a feature-rich platform designed as a backward-compatible upgrade to MT4
Its appeal lies in its fast processing speed, abundant analytical tools, and the ability to trade a wide range of instruments, including stock CFDs
This is suitable for those who primarily engage in discretionary trading and want to perform more accurate chart analysis and advanced strategies
High-speed processing enables stable transactions
MT5 is designed with multi-threading capabilities (allowing for simultaneous processing), resulting in extremely fast chart drawing and automated trading processes
Even with multiple charts open simultaneously, the system remains responsive, and limit orders and Expert Advisor (EA) execution proceed smoothly
ThreeTrader's servers have stable response times, so you don't have to worry about missing trading opportunities due to slowdowns
It has a wide range of analysis tools and drawing objects
MT5 offers 21 different timeframes, 38 standard indicators, and 44 drawing objects
For example, you can use trend channels and gun tools to analyze market trends in detail
Compared to MT4, it offers significantly greater flexibility in analysis, allowing for more efficient verification on charts and comparisons across multiple timeframes
You can trade a wide range of instruments, including stock CFDs
ThreeTrader's MT5 platform allows you to trade not only forex but also stock CFDs, including US and Japanese stocks
This allows for diversified investment combining foreign exchange and stocks to be completed on a single platform
For example, it's possible to trade USD/JPY or gold (XAU/USD) while simultaneously managing US technology stock CFDs
For those who want to broaden their trading horizons, the combination of ThreeTrader and MT5 is the ideal environment
You can check the order status using the order book information (Depth of Market)
MT5 comes standard with an "order book" function that allows you to check market order volume and liquidity in real time
Understanding which price ranges are seeing a concentration of orders makes it easier to identify entry points for short-term trading
This is an extremely useful analytical tool, especially for traders who engage in scalping or day trading
Disadvantages of using MT5 with ThreeTrader
The disadvantages of using MT5 with ThreeTrader are as follows:
- Compared to MT4, there are fewer types of EAs and custom indicators
- There is a possibility that EAs and custom indicators may become unusable
- There is less information available compared to MT4
ThreeTrader's MT5 is a very feature-rich platform, but there are some aspects that make it feel less user-friendly compared to MT4
In particular, you should pay attention to the variety of EAs (Expert Advisors) and custom indicators, as well as the lack of information available
Compared to MT4, there are fewer types of EAs and custom indicators
MT5 is a newer trading platform compared to MT4
Therefore, the number of EAs (Expert Advisors) and custom indicators used with MT4 is still not as large
Because MT4 has been used for a long time, many traders have created and distributed tools for it, so there are a huge variety of tools available online
On the other hand, there are still few tools compatible with MT5, making it difficult to find the settings and analysis methods you want
There is a possibility that EAs and custom indicators may become unusable
In MT5, software updates or specification changes may cause your EAs and indicators to stop working
Programs that become unusable due to these MT5 updates may become unusable permanently if the developer stops providing updates
While ThreeTrader's MT5 is a stable trading platform, caution is advised if you wish to use EAs or custom indicators
There is less information available compared to MT4
While the number of MT5 users is gradually increasing, MT4 still has a larger global user base, and there is a difference in the amount of information available online
There are still relatively few articles available in Japanese that provide setup guides, troubleshooting tips, or instructions on how to use EAs (Expert Advisors)
Comparing the features of MT4 and MT5
MT4 and MT5 have differences in their features
- Differences in the types of stocks that can be traded
- Differences in charting functions and timeframes
- Differences in ordering methods
- Differences between backtesting and automated trading
Here, we will explain in an easy-to-understand way the specific differences between MT4 and MT5
Differences in the types of stocks that can be traded
ThreeTrader allows you to trade FX, precious metals, and energy CFDs on both of its platforms
However, stock CFDs and some index CFDs are exclusive to MT5, so if you want to trade financial instruments other than FX, MT5 is more advantageous.
MT5 allows you to trade individual stocks, including US and Japanese stocks, making it ideal for those who want to trade a wide range of markets
| Comparison items | MT4 | MT5 |
|---|---|---|
| FX (currency pairs) | 〇 | 〇 |
| Precious metals and energy | 〇 | 〇 |
| Stock CFDs | × | 〇 |
| Stock index CFDs | △(partial) | 〇 |
| Cryptocurrency CFDs | × | 〇 |
MT4 is easy to use for those who want to trade simply, mainly in forex, while MT5 is ideal for those who want to manage various instruments in a single account
Differences in charting functions and timeframes
Both MT4 and MT5 offer user-friendly chart display features, but MT5 has a wider range of analytical functions and is better suited for detailed trend analysis
| Comparison items | MT4 | MT5 |
|---|---|---|
| Hourly timeframe | 9 types | 21 types |
| Standard indicator | 30 types | 38 types |
| Drawing Tools | 24 types | 44 types |
| Chart type | 3 types | 5 types |
In particular, it offers a wide variety of timeframes and drawing tools, allowing you to examine price movements from many different angles
MT5 is convenient for performing market analysis using multiple timeframes and complex trendline analysis
Differences in ordering methods
MT5 offers greater flexibility in order placement than MT4, making it more suitable for short-term trading
In addition to the one-click ordering feature also available in MT4, you can also place orders using the Depth of Market (DPC) function
| Comparison items | MT4 | MT5 |
|---|---|---|
| Market order | 〇 | 〇 |
| Limit orders and stop-limit orders | 〇 | 〇 |
| Stop-limit order | × | 〇 |
| Order book information (Depth of Market) | × | 〇 |
| One-click ordering | 〇 | 〇 |
MT5 allows you to use stop-limit orders and other features, making it easier to create precise strategies using limit orders
Additionally, you can determine your entry timing by looking at the order book information
Differences between backtesting and automated trading
MT5 boasts high-speed program processing and enhanced EA (Expert Advisor) testing capabilities
Backtesting can be performed on multiple currency pairs simultaneously, resulting in more realistic test results
| Comparison items | MT4 | MT5 |
|---|---|---|
| Backtesting speed | usually | High speed (multithreaded) |
| Simultaneous testing | Only one currency pair | Multiple currency pairs are available |
| Modeling accuracy | standard | High precision (tick level) |
| Programming Language | MQL4 | MQL5 |
MT4 is suitable for simply testing a single currency pair, but MT5 is superior if you want to test more complex logic or analyze large amounts of data.
Installation procedure for MT4 and MT5 using ThreeTrader
The installation procedure for ThreeTrader's MT4/MT5 is as follows:
Log in to your ThreeTrader member page
First, log in to your ThreeTrader member page
I believe that most people who use ThreeTrader already have experience using overseas forex brokers
One difference from other companies is that ThreeTrader's MT4 and MT5 are downloaded from the member page, not from the official website, so please be aware of this
Open the MT4/MT5 download page
On the ThreeTrader member page, open "Downloads" from the menu
Download MT4/MT5
Download MT4 and MT5 separately for your platform
Since you log in to your ThreeTrader account from your smartphone via the MT4/MT5 app, you do not need to download the MT4/MT5 app separately
Load the ThreeTrader server
Once the MT4/MT5 installation is complete, it will launch automatically
The ThreeTrader server will be loaded automatically upon first launch
Select the ThreeTrader server set up for your account and click "Next"
Log in with your existing account to complete the process
On the next screen, select "Existing Account" and enter the following information
| item | Content |
|---|---|
| Log in | Enter your ThreeTrader trading account number |
| password | Enter your ThreeTrader trading account password |
The password you enter here is not your ThreeTrader member page login password, but the login password set for your ThreeTrader trading account
Once you have entered all the required information, click "Complete" to log in to your account via MT4 or MT5 and begin trading
How to choose between MT4 and MT5 in ThreeTrader
Whether MT4 or MT5 is recommended for ThreeTrader depends on your individual trading style and investment strategy
- When focusing on discretionary trading
- When trading stocks and cryptocurrencies
- If you want to use automated trading
Here, we've compiled recommendations for which is best suited for you, MT4 or MT5, based on different scenarios
When focusing on discretionary trading
For those who primarily engage in discretionary trading, MT5 is recommended
MT5 offers a wider variety of charting functions and drawing tools, giving you an advantage in technical analysis compared to MT4.
For example, you can display multiple timeframes simultaneously to find entry points, or use various tools to analyze chart details
When trading stocks and cryptocurrencies
If you want to trade not only FX but also stocks, cryptocurrencies, etc., MT5 is the best option
ThreeTrader's MT5 platform allows you to trade a wide variety of instruments, including US and Japanese stock CFDs, as well as cryptocurrencies
For example, one of the features of MT5 is that it allows you to combine currency trading with other assets, such as holding a USD/JPY position while simultaneously trading US stocks or Bitcoin
If you want to use automated trading
If you prioritize automated trading, the best option will vary depending on your objectives
MT4 is recommended for those who have EAs (Expert Advisors) that can be used with MT4, or those who want to utilize free and paid tools available online
MT4 has a very large number of Expert Advisors (EAs), and a wealth of information on how to set them up and optimize them is also publicly available
Frequently Asked Questions about ThreeTrader's MT4 and MT5
What should I do if I can't log in to MT4 using ThreeTrader?
You may encounter errors such as "Invalid Account" or "Connection Failed" when logging into MT4. Please check the following points
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- Please double-check that your login ID and password are correct
- Check that you haven't made a mistake with the server name (e.g., the server specified for ThreeTrader)
- Check if your internet connection is stable
- Restart or reinstall MT4 to update to the latest version
- Check if your firewall or security software is blocking communication
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What to do if ThreeTrader's MT4 isn't working or responding?
If MT4 freezes or becomes unresponsive, try the following steps
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- Update MT4 to the latest version
- Check your computer's resources (memory and CPU) and close other applications
- Improve internet connection speed and stability (e.g., wired connection or Wi-Fi enhancement)
- Reset the MT4 configuration file
- Contact ThreeTrader support and include the logs with your inquiry
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Can I use a demo account for MT4/MT5 with ThreeTrader?
Yes. ThreeTrader offers demo accounts for both MT4 and MT5. A demo account allows you to experience trading in a real market environment using virtual funds, helping you familiarize yourself with the platform before starting with a real account
Are the mobile versions of MT4 and MT5 available?
Yes. ThreeTrader also offers MT4 and MT5 mobile apps. The mobile app allows you to perform basic operations such as checking charts, placing and closing orders, and checking your account balance. However, it does not offer the detailed analysis functions or automated trading available in the PC version, so it is best suited for checking trades while you are out and about
Is it true that you can trade stock CFDs on MT5?
Yes, that's true. With ThreeTrader's MT5, you can trade CFDs on US and Japanese stocks. A major feature is that you can manage a wide range of instruments, including not only FX but also stocks and cryptocurrencies, all in one account. For example, you can diversify your investments across multiple assets, such as trading US stock CFDs while holding a USD/JPY position
Is there a difference in execution speed between MT4 and MT5?
ThreeTrader's MT5 is characterized by its high-speed processing using the latest technology. However, the actual execution speed is affected by server congestion, communication environment, and order type. For trading where speed is important, such as scalping, it is important to ensure a stable communication environment whether you use MT4 or MT5
What are some things to keep in mind when choosing a broker that offers MT4/MT5?
When choosing a broker that offers both MT4 and MT5, like ThreeTrader, check the following points:
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- Is it compatible with both platforms?
- Are the differences in spreads and fees clear?
- Is there comprehensive Japanese language support?
- Is compatibility maintained during platform updates?
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Both MT4 and MT5 are globally used trading tools, but their ease of use varies depending on the broker's environment and support system. ThreeTrader offers excellent Japanese language support, making it a safe choice even for beginners
summary
ThreeTrader offers both the simple and highly customizable MT4 and the feature-rich and analytically superior MT5
For those who want to trade not only FX but also stocks and cryptocurrencies, MT5 is recommended. For those who want to use automated trading tools and a wide range of indicators, MT4 is recommended. Both can be used with peace of mind thanks to ThreeTrader's stable trading environment and support system
First, try out a free demo account to experience the actual operation and trading feel
