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Wesley

What are the differences between MetaTrader 4 and MetaTrader 5?

September 9, 2022 by Wesley Leave a Comment

Why use MetaTrader?

When it comes to trading financial markets online, having confidence in the tools you use is crucial to being able to perform at your best. Traders and investors want to know that the platform they use is reliable and fast enough to ensure that their trading experience is an enjoyable one.

And with so many trading platforms on the web, many traders, and especially those new to trading online, struggle to find the best trading platform for their needs. Whether you’re looking into Forex trading, trading Stocks or even trading commodities, you want to know that the platform you’ve chosen meets your needs and offers you the best possible price and no lag or potential downtime.

So, why use MetaTrader? MetaTrader is one of the most popular names in online trading platforms and is used by beginners, experienced traders and professionals alike. Originally launched with the MetaTrader 4 (sometimes called MT4) platform in 2005, the MetaTrader platforms have gone from strength to strength ever since.

There is now a MetaTrader 5 (MT5) platform too, as well as mobile apps as part of the platform offering but the essentials that have made the name synonymous with trading online have remained the same. Traders primarily choose the MT4 or MT5 platform for:

  • Reliability – Both platforms are reliable and easy to use and have a strong track record of success.
  • Intuitive – Both platforms are intuitive and designed in a way that makes executing trades simple and efficient.
  • Flexible – Both MT4 and MT5 are incredibly flexible and allow traders to execute advanced trading strategies, trade directly from charts and view extended timeframes
  • Powerful Tools – The MetaTrader platforms come with interactive charts, advanced technical indicators, pre-built trading strategies, trading alerts, stop orders and more.

It is easy to see why plenty of traders around the world choose MetaTrader as their go-to platform. With both MT4 and MT5 supporting mobile trading on any device, they allow traders to stay on top of market movement and intelligently manage their positions in response to increased volatility.

With Stop Loss and Market Orders available too, the MetaTrader platforms offer risk management tools for responsible trading to ensure investors and traders close out their position at a set price if the market moves against them.

What is the difference between MT4 and MT5 and which is better?

We’ve seen a little of what makes the MetaTrader 4 and MetaTrader 5 platforms so popular with investors and online traders but what about the differences, and do these impact the actual trading experience? Let’s have a look at each platform’s features and differences.

MetaTrader 4 Features

MetaTrader 4 is the original MetaTrader platform, and while it has undergone updates since its launch, it remains reassuringly familiar. MT4 offers traders both market and pending order functionality as well as instant execution on trades.

Whether your purpose is Forex trading, trading Stocks or trading Commodities, you can trade directly from charts for greater clarity and responsiveness. The platform also offers key risk management tools like stop loss orders and trailing stops.

One of the more popular features of MetaTrader 4 is the ability to see a complete trading history, and this is a valuable tool in helping you refine your long term trading strategy. It is incredibly useful to see where and how your trades succeed or fail, and every responsible trader should be managing their performance and accessing their level of risk by keeping a close eye on their trading history.

MT4 is packed with technical tools to help analyse the markets too. Traders can get online quotes and view market movement over 9 periods to track price changes. With 23 analytical objects and 30 built-in technical indicators, traders and investors that use MetaTrader4 can quickly and easily view key price points and respond to both trading opportunities as they develop, and potential spikes in volatility which could increase risk.

MetaTrader4 also offers trading signals and algorithmic trading functionality for more experienced traders. Finally, MT4 is available on all mobile devices too, allowing traders to keep an eye on market movement whenever they want, and wherever they happen to travel.

MetaTrader 4 summary:

  • 3 execution modes
  • 2 market orders
  • 4 pending orders
  • 2 stop orders and a trailing stop
  • 23 analytical objects
  • 30 built-in technical indicators
  • Interactive charts
  • Trading signals and algorithmic trading
  • Available on all mobile devices

MetaTrader 5 Features

MetaTrader 5 is the more advanced MetaTrader platform and markets itself as “a platform for Forex and Exchange markets.” This makes sense as the Meta platforms have always been highly popular with FX traders in particular, with their strong charting package and instant execution functionality.

While MetaTrader 5 is very popular with FX traders, it still offers a wide range of multi-asset class instruments and traders can choose from Indices, Commodities, Stocks and FX. MetaTrader 5 comes packed with more advanced features and suits professional and experienced traders well with its Market Depth and separate accounting system providing flexibility and speed.

MT5 supports every type of trade order imaginable with market, pending, stops and trailing stops all available. There are also four order execution options to support a wide range of trading strategies and these include Instant, Request, Market and Exchange execution.

The platform offers daily news and analysis of financial markets to help keep traders informed and identify trading opportunities. And with 30 technical indicators and 24 analytical objects including Gann, Fibonacci and Elliott tools, technical traders will have the powerful tools they need to track and trade on price movement.

Traders can trade directly from charts in MT5 with 9 timeframes available and three different chart types, including bars, Japanese candlesticks and broken line.

Like with MT4, traders get a full, comprehensive trading history to help build and develop their trading strategy while tracking performance.

As the more advanced trading platform, MT5 also offers complex automated and algorithmic trading as well as robot trading and access to the MetaTrader Market of trading apps. Traders can also make use of the professional MQL5 development environment for a more personalised trading experience.

MetaTrader 5 is available to download on desktop and Mac and is available across all mobile devices including iPad, iPhone and Android phone.

MetaTrader 5 summary:

  • Interactive real-time price charts
  • 30 popular technical indicators
  • 24 analytical objects
  • Tools like lines, channels, geometric shapes, as well as Gann, Fibonacci and Elliott tools
  • 9 timeframes: M1, M5, M15, M30, H1, H4, D1, W1 and MN
  • 3 types of charts including bars, Japanese candlesticks and broken line
  • Full trading history
  • Market, pending, stop losses and trailing stops all available
  • 4 order execution options: Instant, Request, Market and Exchange execution
  • Algorithmic trading and robot trading
  • Professional MQL5 development environment
  • MetaTrader Market of trading apps
  • Available on mobile, iPad, iPhone, Android phone and tablet

MT4 vs MT5 Pros & Cons

Choosing between MT4 and MT5 largely depends on what you’re looking for in a trading platform, and how experienced you are. Both platforms are exceptionably capable and offer a wide range of trading tools to help support your chosen trading strategy.

The type of traders who may choose MT4 likely prefer its relative simplicity vs MT5 and the ability to trade directly from charts without clutter or information overkill. The market orders, risk tools, analytical objects and technical indicators offer technical traders solid tools for trading just about any market.

The platform doesn’t really have any negatives with everything in its correct place, instant execution for fast trades and an intuitive interface that makes everything from finding the right market to placing a trade simple and easy.

The type of traders who may feel MetaTrader 5 meets their needs better are likely the more experienced traders and/or professional traders. MT5 is built as a more advanced option with 9 timeframes, 3 types of charts, the professional MQL5 development environment and access to MetaTrader apps.

Instant, Request, Market and Exchange execution options offer pro traders greater flexibility in defining their trading strategy and with algorithmic trading and robot trading available there are plenty of options to trade intelligently.

MetraTrader5 has few cons but it is worth bearing in mind that the platform has been built for experienced traders and those newer to the markets may feel overwhelmed by the functionality on offer. The type of professional tools available in MT5 take a great deal of experience to master and if you’re a newer trader, MetaTrader 4 may be the better option.

Is there a better platform for trading?

As we’ve seen, the choice of trading platform is largely subjective and is often personal to a trader based on their likes, the type of market they trade and the functionality they refer and expect.

Both MetaTrader 4 and MetaTrader 5 offer superb functionality and capabilities that will support both new and experienced traders to trade with confidence.

Eightcap offers both MetaTrader 4 and MetaTrader 5 as well as EightCap WebTrader which comes packed with similar functionality and an outstanding charting package. For traders who enjoy trading via a web browser for easy access this may also be a strong option.

Conclusion

MetaTrader 4 and MetaTrader 5 are amongst the most popular and reliable trading platforms available online. With a wide range of features, risk protection tools and mobile functionality, they give traders the foundation and support they require to trade intelligently.

For newer traders, MT4 may be the best option with its intuitive interface and easy to use tools. The charting package available is also excellent and the uncluttered interface helps newer traders to focus on both market movement and technical price points of interest without distraction.

More experienced and professional traders are likely better off choosing MetaTrader 5 with its more advanced functionality and powerful charting package that offers a huge array of technical indicators and tools like Gann, Fibonacci and Elliott.

Both platforms are available on mobile for ease of use and this allows traders to stay in touch with the markets and monitor their positions whenever and wherever they want.

FAQs

Where can I trade on MT4 and MT5?

You can trade on both MetaTrader 4 and MetaTrader 5 with a CFD trading account at Eightcap. Download the software or the app and use your account details to log in.

Can I trade MetaTrader 4 and MetaTrader 5 on mobile?

Yes – both MT4 and MT5 are available on mobile and you can download either app on Android or iOS and trade on both mobile and tablet.

I’m new to trading, which platform will suit me best?

If you’re newer to trading online, you may find that MetaTrader 4 suits you better. MT4 is a powerful trading platform but comes without the professional capabilities of MT5.

Does MT4 have a charting package?

Yes, MT4 comes with a strong charting package that features a wide range of technical indicators, trade direct from chart functionality and analytical objects to help ensure accurate, technical trading.

Is MetaTrader 5 a professional trading platform?

Yes – MT5 has been built for more experienced and professional traders and comes with trading capabilities and tools designed for more complex trading strategies. While newer traders can still use MT5, they may find some of the functionality overwhelming.

Do the MetaTrader platforms have risk protection tools?

Yes – both MT4 and MT4 trading platforms have stop loss protection and trailing stop loss protection available. These tools are an important part of a responsible trading strategy and can be used to limit losses if the market moves against you suddenly.

Does MetaTrader 4 have technical tools?

Yes – MetaTrader 4 has a total of 23 analytical objects as well as 30 built-in technical indicators.

Learn more about trading CFDs on MetaTrader 4 or MetaTrader 5 in our Education Hub, or subscribe to Eightcap’s Week Ahead Newsletter for more trading insights, analysis and news. Or visit Eightcap’s platform pages for a full breakdown of platform functionality.

 

Filed Under: Financial Tips

Reasons Why an Infinite Banking Calculator is a Valuable Tool for Financial Planning

July 21, 2022 by Wesley Leave a Comment

For all financial experts and advisors, one of the most commonly faced questions is that of which financial planning softwares to use. You may hear many different things about infinite banking, and it can be tough to decipher whether or not infinite banking software is worth considering among the many other banking software options.

This article will explore why an infinite banking calculator is a useful tool and how you can improve your client services by using one.

What is an Infinite Banking Calculator?

An infinite banking calculator helps show a client what they can expect in the future from an infinite banking plan. It takes into account the variables of their personal whole life insurance policy as well as market fluctuations to determine a reasonably accurate future cash value prediction, and how the client can borrow against their policy to improve their liquidity and cash flow in the process.

How does it give a 360 degree look into finances?

Did you know that an IBC calculator can give you a 360-degree look into your client’s finances? This means you can see all aspects of their financial situation, including their income, debts, assets, and expenses, in one place. It offers information that is invaluable when it comes to financial planning.

With this information, you can make informed decisions about allocating your client’s resources. You can also develop a financial plan tailored to their specific needs and goals.

For instance, if your client has a lot of debt, you can use a borrowing strategy calculator to see how much they can afford to pay each month. This will help you develop a debt repayment plan that is realistic and achievable.

If your client’s goal is to save for retirement, you can use the infinite banking calculator to see how much they need to save each month. This will help you develop a retirement savings plan that is right for them.

Why is it essential to have a solid financial plan in place?

In today’s world, it’s more important than ever to have a solid financial plan in place. With the cost of living on the rise and the economy in a state of flux, it’s crucial to have a plan to help you prepare for your future financial situation.

One of the best ways to create a solid financial plan is to use an infinite banking calculator. This innovative tool can help you determine how much money you need to save and invest and how much you need to set aside for unexpected expenses.

According to Money Under 30, an IBC calculator can help you “see the big picture of someone’s financial life and develop a plan to achieve their goals.” This is an invaluable tool for anyone who wants to get their finances on track.

The Bottom Line

If you’re unsure where to start, several providers of such software can help you get started. This software enables you to create a budget and track your client’s progress over time. And it can provide tips on saving money and making your money work harder for you.

It’s important to remember that no financial strategy is perfect, but a banking calculator can help build a strategy tailored to one’s unique needs and goals. With this tool in your arsenal, you’ll be well on your way to financial success. Start using it today and take a big step toward creating a bright career as an expert.

 

Filed Under: Financial Tips

Valuable Information on White-collar Crimes in Sydney and Why One Needs the Lawyers

July 12, 2022 by Wesley Leave a Comment

Australia, just like other countries, has its fair share of white-collar crimes. According to the latest Commonwealth Director of Public Prosecutions (CDPP) report, the Australian Federal Police reported about 25% of such crimes. In comparison, the Australian Securities and Investments Commission (ASIC) recorded 58%.

In Sydney and New South Wales, most financial crimes are related to card frauds, cheque frauds, and embezzlement. Incidents like this one in which a woman from Sydney was involved in money laundering worth 50,000 AUD often come to light.

However, a person should contact white collar crime lawyers Sydney when their organisation or employee unfairly accuses them of fraud. Such cases are highly complicated and involve lengthy duration. One must hire an experienced lawyer to defend their rights in such cases and ensure receiving the justice they deserve.

Being accused of money laundering, embezzlement, or crimes of a related nature can have a devastating impact on your career, besides causing immense mental trauma. It significantly affects one’s chances of reemployment, puts one in dire financial straits, and even can ruin their career permanently.

What are the two primary kinds of white-collar crimes you should be aware of, and how can a lawyer help you? Continue reading to find out.

Two main types of financial crimes

Money laundering

Under the laws of the New South Wales government, money laundering comes under the Crimes Act 1990 under Section 193B. It defines an offender as someone who deals with the proceeds of crime, knowing it was the proceeds of crime. Concealing the source of the money is also a punishable offence.

In April 2022, police officers in Sydney busted a significant money laundering operation, seizing worth 4.7 million AUD. A financial crime of this scale in which the individual is entirely aware of the crime and willingly conceals it carries a prison sentence of more than 20 years

However, if an individual does not conceal the offence, the maximum penalty is 15 years, while dealing with the crime recklessly carries a sentence of 10 years imprisonment.

You should contact your attorney without losing time in laundering cases because they carry heavy penalties and legal complexities. Your lawyer will help you during the police interviews or interrogations.

Your attorney will also try to convince the Court that you committed the crime to enable the enforcement of Commonwealth, State, or Territory Laws.

Embezzlement

In Sydney and New South Wales, embezzlement is covered in Division 6 of the Crimes Act 1990 and is considered a severe criminal offence with ten years of imprisonment.

Sydney often witnesses cases of embezzlement in Australia. For instance, in June 2022, the Australian Federal Police arrested a 34 years woman and 27 years man for payment fraud worth 440,000 AUD. The police arrested the couple after a raid at their home in Lidcombe city in Western Sydney.

Your lawyers will fight tooth and nail by carefully examining and rigorously questioning the prosecution’s witnesses testifying in the case. They will provide the best defence possible by convincing the Court of your legal right to hold the property or claim you were coerced into embezzling the money or property.

You should always contact experienced white-collar crime lawyers in Sydney when you are accused of financial crimes like laundering, embezzlement, market manipulation, dishonesty, etc. They will ensure you receive justice and defend your rights in the Court of law.

 

Filed Under: The Blog

How to Select a Dashboard Design?

July 6, 2022 by Wesley Leave a Comment

When selecting a dashboard design, there is no one right answer: the right solution will vary depending on a company’s specific needs and preferences. However, there are several key factors to consider when choosing a dashboard background design. One needs to consider the overall layout and look of the system, the data displayed on the screen, and how user-friendly it will be.

Why Is a Design Background Needed?

A good dashboard background can give the screen a professional look. These are commonly used in businesses and organizations to keep track of essential data. They can also help track progress or progress updates across projects.

Elements of a Dashboard Background Design

The first consideration of dashboard design is its overall layout. The structure should be easy to read and understand, with all the most critical information front and center. Users should not have to hunt for information or scroll through screens to find what they need.

The composition of each widget is also essential. Widgets should be simple and concise, with all relevant information. They should also be easy to interpret, with colors and icons that are visually appealing and indicate the type of data being displayed. Animation can also help convey the progress of information clearly and precisely.

Logo and Placement

When designing a website’s logo placement, first think about the size of the logo. It should be large and easily visible but not so large that it takes up excessive space or distracts from the content.

The location of the logo is also essential. It should be placed in a spot that’s easy for users to see and reach, like the upper left corner of the page, where people will likely already be looking.

Images and Design Colors

1. Use high-quality images: Make sure all your images are of high quality and properly formatted. Crisp, high-resolution pictures will visually convey clarity and professionalism, and properly formatting them will minimize clutter and make your data more readable.

2. Choose topic-appropriate visuals: Use visuals that will help the readers understand the data. For example, if you’re presenting financial data, use graphs or charts instead of text-based statistics.

3. Keep it simple: The goal is always to communicate information clearly and concisely, so avoid adding too many visuals or images. The most significant information should be at the top. Web pages are typically designed to be read from left to right, so place the most crucial information at the top of the page. Stick to a standard layout.

The Correct Color

Dashboard color schemes can make or break the effectiveness of an organization’s dashboard. Colors are essential for setting the tone and creating an environment that is both visually appealing and easy to use. When choosing colors, it is crucial to consider your target audience, the type of data you will display, and its overall goal.

There are a few general guidelines you can follow when selecting colors:

  • Use light colors for data that is easy to understand and dark colors for more complex ones.
  • Blue is often used for financial data because it is associated with trust and security.
  • Green is a good choice for environmental or health information because it is associated with growth, vitality, and nature.
  • Orange or red can be used to highlight danger or warning signals.

Wrap Up

When designing a dashboard, the number of design-types to choose from can be overwhelming, but you can reduce your options to those most suited to your needs by simplifying your overall layout, optimizing your logo size and placements, using high-quality images and topic-appropriate graphics, and remembering commonly used topic-colorscheme associations.

 

Filed Under: Business

Factors To Consider Before Choosing Any Christian Based Financial Advisor

May 25, 2022 by Wesley Leave a Comment

If you want your investments to align with your faith and biblical teachings, you need to look for Christian based financial advisors. Here are factors to consider before choosing any Christian-based financial service.

Biblical Worldview

The Christian-based financial advisor should operate with high standards of integrity. There are many verses in the Bible related to money and they give us God’s perfect wisdom for how we should handle our money. The Bible teaches that you should not be greedy for money and warns us that we cannot be devoted to both God and money (Matthew 6:24).

The financial advisor should follow the biblical teachings and use them as a guide to managing their client’s investments. He should help the client pursue a biblical view of their financial future that focuses on finding God’s Kingdom as a focal point for all investments. The finance professional should not have a secular view about investments that focus only or primarily on accumulating wealth.

Emphasis on Stewardship

Christian-based financial advisors are different from regular financial advisors. The finance professional should understand that everything in this world belongs to God and people are only managers of what God entrusts to them. The financial advisor should be aware of the biblical teachings about money and be faithful to follow these teachings as they help you to faithfully steward the money that God has entrusted to you. Stewardship is one of the most important teachings in Scripture and it emphasizes the duty of managing and utilizing resources provided by God for the welfare of people.

The financial advisor’s actions or decisions about investments should align with the Bible’s teachings about money and Stewardship.

Responsible Spending

The Christian financial advisor should guide the client toward responsible spending that avoids a wasteful lifestyle. The advisor should encourage clients to spend responsibly and avoid spending more than their earnings. Financial advice should focus on saving and investing and avoiding debt whenever possible.

Integrity

The financial advisor should maintain the highest level of integrity when interacting with clients. Besides having a firm commitment with each client, the financial advisor should also maintain confidential relationships with clients. Also, the financial advisor should put the client’s interests above themselves when making any financial decision for the client.

Professional Competency

The finance professional should have obtained proper education to provide financial services. In addition, the advisors should have years of experience as financial consultants and have a good track record of offering competent financial services to their clients.

The advisors should pursue ongoing education and development by taking additional courses to improve their knowledge and skills.

Good Reputation

A good reputation is a crucial trait when looking for a financial advisor. The advisors you choose should be held in high regard by their clients. Also, they should be considered leaders in their community.

You should consider these factors before choosing any Christian financial advisor.

 

Filed Under: Financial Tips

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Hey there – my friends call me Wesley and this is my first blog. I am an entrepreneur who loves to read the news and constantly learn new things. I also have a huge passion for writing, which is why I decided to start this blog. Read More…

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What are the differences between MetaTrader 4 and MetaTrader 5?

Reasons Why an Infinite Banking Calculator is a Valuable Tool for Financial Planning

Valuable Information on White-collar Crimes in Sydney and Why One Needs the Lawyers

How to Select a Dashboard Design?

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Hey there – my friends call me Wesley and this is my first blog. I am an entrepreneur who loves to read the news and constantly learn new things. I also have a huge passion for writing, which is why I decided to start this blog.

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