Which Metatrader Version Do You Have?

Which Metatrader version do you have? Could you tell me if I asked you? Why is it important? Why am I asking so many questions?

As you probably know, Metatrader is the leading Forex platform in the world today. Who am I kidding? If you didn't know what Metatrader was, you probably wouldn't be here and you wouldn't have searched for something about the platform in the search engines. Am I right?

You're interested in making sure that you have the right version of Metatrader. As of the time of this writing, there are five different versions of the Metatrader platform. Metatrader 5 is the latest and the greatest platform that is on the market.

Metatrader 4

Although the fifth version is the newest one, it is not necessarily the most popular. Metatrader 4 is actually the most popular version in the history of the Forex market and it is still king of the hill at this time. Many traders prefer 4 to 5 and because of this, most brokers still offer 4.

Metatrader 4 became so popular because it was expert advisor friendly. Many people got involved in the Forex market because of the number of expert advisors that were being heavily promoted. They were tested and optimized for the 4th platform and because of this, many people still stick with it.

Why's It Matter?

To the average trader, it might not matter which version he is using to trade. After all, they're basically the same platform with just a few different features. However, if you're using a piece of software or a custom indicator that is developed for one platform or the other, you need to make sure that you have the right Metatrader version. Otherwise, you might end up purchasing a piece of software or an indicator that won't work with your broker. Make sure that you have the right version for the systme that you're going to use.

How to Tell

Typically, it's pretty easy to see which version of Metatrader you have. All you have to do is look at the top left corner of your trading platform to see what it says. It will usually say something about the name of the broker and then have a number 4 or 5. Can you tell the difference between 4 and 5? Ok, good. You're good to go.

Need to Know More About Metatrader?

Check out our comprehensive Metatrader learning center here . If you want to know more about the Forex market in general or about trading strategies , we've got that for you too. After all, Forex Trading Rookie is all about helping the newbies. We were all once newbies who had no idea what platform we had either.

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