What is this MT4, MT5...is this marketing talk?

Definitely, in order to trade and make a profit on a real account, you must decide on a broker and a platform, you can choose the one that he offers.

 

Thanks for the details and it definitely seems MT5 is better. I wonder why MT4 is higher on demand than MT5?

 

MT4 exists much longer than MT5 and many people were already used to using it. Software for MT4 (written in MQL4) cannot run on MT5. That software needs to be rewritten and many software developers don't want to invest time and effort to do so, as long as brokers continue to support MT4.

 

There are traders who’ve literally been trading since decades and they’re quite comfortable using MT4 primarily because of the ease of use. I would say, brokers find it tough to break the already established loyal client base of MT4.

 

Yeah, there is a need for a broker. I prefer MT4, you can choose the platform according to your preference.

 

I too prefer MT4 as it is quite convenient and fulfills my needs.

 

You see, about what it is, you must acquire it at the stage of training.

 

MT4 and MT5 are trading platforms that traders use to trade different instruments like forex, stocks, indices, etc.

 

Pretty much all brokers offers those two platforms. They're ubiquitous.

 

Without MT4 or MT5 you will not be able to trade, as any broker has access to the market only through THEIR trading platforms. But different brokers may have different trading conditions, different spread sizes and different execution speeds in their MT4 or MT5 terminals. Therefore, it is important to find a broker with favorable trading conditions, minimal spreads and instant execution of orders. In this regard, I liked fxopen.