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All of that is true.MT4 was so simple as it was possible for a base version...with a lot of adds and apps.At this point mt5 is too just ,,pure'' verision.For exchange listed products its new .It is available for trading just in markets like Russia Brazil Turkey here in Poland (only one broker) and now with AMP (so also only one broker fcm).And mt4 is dead thats also true - no more support no more update.
Can you help answer these questions from other members on NexusFi?
I have tested MT5 a bit in the past few days. Unlike NT or Sierra, users do not have to "map" or "define" symbols. It's all handled in the backend by MT5. This is a great plus for MT5, less errors and more stable. One thing I'm not sure is how MT5 deals with rolling. Is it going be manual or ruled based auto rolling? What about continuous contract? Anyone has experience to share?
It's the broker's responsibility, MetaTrader doesn't know about rolling. Before contract expiration the broker will add the new symbols and you have to switch manually. A.f.a.i.k there is not yet support for continuous contracts in MT5. Some brokers offer something that seems to be continuous but in reality you trade CFD's, not futures.
I dare to disagree. MT4 is far from dead. In fact MT5 is a niche product with a customer base in the low single digit percentage of MetaTrader users. MT4 will remain the ruling platform for the next years. Look at MetaQuotes signal services. Thousands of subscribers for MT4 (that's what MQ makes money with) and only 20-30 subscribers for MT5 (that's all together). MT5 was released 6 years ago and until today has about 30 signal subscribers. Should make you think again. In fact I would say it's MT5 that has never been alive, and will never be as long as it doesn't provide at least the same feature set as MT4 does.
btw: MQ recently increased license prices for MT4 because brokers are not interested to switch, too. Brokers know why.
The version I tested is MT5 offered by AMP. It's integrated with CQG data feed. I do not believe brokers will have any part in adding new front month contracts. In fact there's a feature in MT5 to automatically delete expired contracts. It should be all handled by CQG data engine.
But the tricky part is sometimes rolling takes place before expiration, and I do not how this is done in MT5, manually or automatic. In CQG native platforms, you can define rolling by different rules, like specific date or when volume shifts to new contract.
Thats true what you are sayn but...what I mean is that metaquotes whant to force people to migrate to mt5.They will not support mt4 anymore.Of course mt4 still will be ,,alive'' ,only mt4 makers want to ,,kill'' it and make mt5 a main successor.Even if there is not too much people who want to use mt5 they try to force them to like it
Actually I prefer MT5. And quite like the situation where people claim the opposite.
I think that the main reason the brokers are against the changes is that MT4 and MT5 are completely different products.Introducing MT5 needs plenty of additional work for a broker, but does not give any visible advantage for a trader. For example you can open many orders on the same instrument in MT4, while in MT5 they are combined in one position with averaged price. In Mt4 one can close each order separately , but in MT5 you do not even close the position but open the opposite one, again the price is averaged. This requires different way of recording trades, connections, also accountancy is different. And I quite like all the changes, but understand that for many others they are not important, especially whey one invested a lot of time and energy in MT4 strategies, EAs etc.
Having said there are already many of other platforms for trading futures and I do not expect MT5 to be very competitive there.
Connecity via CQG is one thing, and the other is licensing all the software so you can use the platform for free.
MetaQuotes allocates to each brokerage severs that they need to pay for.
This is to the best of my understanding.
Thank you,
Matt Z
Optimus Futures
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