MT4 white label and MT5, which is more suitable for today's forex market?

In April 2017, the forex market was buzzing with the official announcement from MetaQuotes, a well-known Russian software provider. They declared their decision to stop selling their flagship product, MT4, with the intention to phase out MT4 software and promote the MT5 platform instead.

For those planning to become brokers, the question arises: should they opt for the fast-developing MT5 or choose the more robust MT4 white label solution？ As for brokers who have already adopted MT4, the question emerges: is it necessary to upgrade and transition to MT5？ Let's delve into an analysis and comparison of MT4 white label and MT5.

Regarding MT5:

MT5 stands for Meta Trader 5 and is a versatile financial trading platform that allows trading in forex, stocks, futures, and CFDs.

As an upgraded version of MT4, MT5 brings significant improvements in performance. A data comparison released by MetaTrader's official website shows that MT5 has made substantial strides in performance compared to MT4. In terms of tradable products, MT5 offers a wider range, including real-time quotes and trading for not only precious metals, forex, and futures but also stocks and options, making it more diversified than MT4.

Apart from the significant performance enhancement, MT5 boasts the following features:

• Official Back-Office Support: Since its launch in 2010, MT5 has seen consistent updates, despite its initially slow market adoption. MetaQuotes has kept faith in MT5, and recent decisions, such as discontinuing the main version of MT4, demonstrate their commitment.

• Continuous Software Updates: In 2016, the update frequency for MT5 increased to 1-2 times per month, with ongoing optimization. On the other hand, MetaQuotes officially stated that there would be no further updates or optimizations for MT4, aiming to reduce the gap between the two platforms through human-controlled methods. However, the time it will take for MT5 to catch up with MT4 remains uncertain.

• MT4 Still Preferred in Forex Trading: Even with the discontinuation of the main version, the decision to cease updates and optimizations, and a temporary halt in MT4's development, it remains the dominant player in the forex trading software market. MT4's market position will not be replaced by other mainstream trading platforms anytime soon.

• A Vast User Base: Most brokers and investors prefer MT4 as their trading platform, with a large and long-standing user base. MT4 has been the leader in the forex trading software market for over a decade, and trading with MT4 is the standard practice for the vast majority of investors. This means brokers will choose the investor-favored MT4 as their trading platform.

• Highly Stable System Operation: Despite no further optimizations and updates, MT4, after over a decade of refinement, stands as the most stable and outstanding trading software in the market today. Its installation process is simpler compared to MT5, and its software size is only one-third of MT5. In terms of programming, MT4 and MT5 are not interchangeable due to the use of different programming languages. MT4 employs MQL programming, which allows for faster and simpler coding.

Building MT4 is much simpler than MT5, but this does not imply higher efficiency. Some builders in the market claim they can set up MT4 within 2-3 days. It's important to note that these builders are using pirated versions of MT4 trading software. The usual time frame for setting up genuine MT4 is 20-25 days.

How to Choose a Broker

Market Demand is the Decisive Factor

MT4 is still the preferred trading software for the vast majority of global investors. Brokers opting for an MT4 white label can reduce the later market development difficulty.

Although MT5 receives official support, most users still favor MT4, with a severely lagging market share compared to MT4.

Platform Software

MT4 has matured in its development, ensuring stable system operation. On the other hand, MT5, while having greater development potential, lacks stability in system operation, leading to a higher probability of lag.

Ultimately, before deciding which trading software to use, ensure the platform's security and reliability. You can achieve this by checking a broker's regulatory information, corporate relations, WikiFX survey (site visit), and other sources of information through the WikiFX APP. This helps safeguard your trading and funds' security.