You can start trading Forex with either MetaTrader 4 (MT4) or MetaTrader 5 (MT5) which are both available for download free of charge and work with any computer operating system.
MetaTrader 4
The MT4 is a trading software designed for currency brokers as well as other financial investors wishing to participate in the Forex market. This is an excellent trading program that allows users to generate profit through currency exchange. Once downloaded, the original versions of the platform will allow users to connect to any online Forex trading platform offered by a Forex broker. Each Forex broker will typically offer a unique version of the software. Users are able to install MetaTrader 4 on computers running Windows, Mac, iOS, or Android operating systems. Users do not need to pay anything to download and use the software. I included the link above where users may download MetaTrader 4.
| MT4 |
| License: Free |
| O.S: Windows 7/8/10/11 |
| Language: English (and all languages) |
| Version: 2025 |
| File size: 3.26 MB |
| PC MQL4 |
MetaTrader 5
MT5 has a better and newer design compared to MT4. The buttons in the software are bigger than in MT4. This makes it easier to navigate. Since the platform works with 64-bit operating systems, there is less risk involved when using the system. MetaTrader 5 has many more options available compared to MT4. The best part about MT5 is that you can access multiple investment platforms simultaneously via the Internet. I have provided a link for downloading the most recent version of MetaTrader 5 from the official site. You will find links for both Windows (PC) and Mobile (APK/iOS).
| MT5 |
| License: Free |
| O.S: Windows 7/8/10/11 |
| Language: English (and all languages) |
| Version: 2025 |
| File size: 6.24 MB |
| PC MQL5 |
What are the differences between MetaTrader 4 and 5? How do I know which one to pick?
The main software distinction between the two versions is the programming language that they utilize. Version 5 utilizes the MQL5 database, whereas version 4 utilizes the MQL4 database. Thus, the way both programs record data is different. Because it would be difficult to transfer saved data from version 4 to version 5, or vice-versa, many brokers who were using version 4 will continue to use version 4. Therefore, I can say that when new investors download MetaTrader, they generally choose version 5. These new investors believe that because version 5 is newer, they will receive better/faster tips. Due to this belief, as well as being the latest version, brokers will typically select version 5 as their primary choice for installation.
Conversely, old users that have upgraded from version 4 to version 5 with added features or tools, will not be able to upgrade their current system to version 5. These users will remain with their old system. At present, MetaTrader 4 is the most commonly utilized Forex trading platform globally. On the other hand, MetaTrader 5 is an option for individuals that are new to the platform; i.e., individuals that are new to trading Forex.
Other Forex brokers have different platforms that they use.
HotForex
To do forex trading, hotforex provides a metatrader 4 download link on its own server. This means that the program is not the same as the default program, it is unique to hotforex. If you wish to trade forex with hotforex, you need to download the most current version of metatrader 4 software from their own official website. You can choose to download one of the three metatrader 4 versions available for windows, mac, and linux.
HotForex MT4 has a multi-lingual option that allows users in each country to utilize the platform easily. Also, there is a news feed on the HotForex platform that will keep you informed of any changes as soon as they occur. Charts are available individually for each currency pair, which will help you conduct a more effective analysis. HotForex’s interface is very similar to what most traders have used in their previous trading experiences; therefore, there is no need to take courses to understand how to use the program. If you would like to download MetaTrader 4 provided by HotForex, you can select either option listed below. Both versions of 4 may be downloaded to multiple operating systems using one file.
XM Forex
XM uses its own version of investment. As such, all of its users are required to utilize MetaTrader 4 software that is owned by XM. When you open a Forex account through XM, you can use the version-4 on either your desktop computer or smartphone. You will be able to select from two types of Forex software: MT4 and MT5. There would be no need for you to download MetaTrader 5 if you were already a program user. There are four download methods available for MetaTrader 4. Additionally, you will be able to access the XM platform directly through the internet and begin investing in Forex without downloading any software. You can also connect to up to eight different platforms at once. Lastly, you may choose to open a micro-lot account and monitor Forex lots.
More than seven hundred options have been included into the user interface of the software to provide you with an extensive selection of trading tools. The XM application allows you to view charts that show real-time price changes for stock indices and CFDs.
