MetaTrader 4 (MT4) is a highly favored platform for Forex trading. The MT4 is famous for its easy-to-use design and strong features.
Recently, Metatrader released the updated version MT5, but MT4 still retains its significant user base. So now, a question arises in everyone’s mind: “Is MT4 being discontinued?”
MetaTrader 4 (MT4) is not being discontinued in the current situation. But in the future MT4 will decrease its popularity when MT6 will launch with more updated features. Time will tell what will happen.
You can download MetaTrader 4 ( MT4 ) from here!
Current Scenario of MT4:
MT4 status is popular among forex traders worldwide. But people are saying this platform might not be standing well.
It’s important to look into the details to see how things are going. Let’s see how popular MetaTrader 4 (MT4) is in the forex market.
MT4’s popularity in the Forex market:
MT4 is the best trading tool for Forex traders. People really like it because it’s easy to use and has useful charts. Also,
- Multimarket accessibility: Traders can engage in foreign exchange, commodities, indices, and more trading.
- Customization: Allowing traders to personalize their trading strategy experience.
- Automated trading: EAs make trading easier by allowing a hands-off approach.
Current support and updates for MT4:
MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corporation.
Although they launched MT5 but they still maintain regular updates and support in the MT4 platform.
Despite people thinking it might be stopped, current statistics show that it will continue.
- Tech Support: Going on
- Updates for the platform: Regular.
- Security Patches: Consistent
- Community Support: Strong
Many traders still prefer MT4 over the newer version, MT5. MT4 remains the favorite of many traders for regular support & software updates.
Why do people think MT4 will be removed?
There are many reasons for discontinuation of MT4
| MT4 Feature | MT5 Upgrade |
| Programmable Indicators | More advanced & diverse with MQL5 |
| 32-bit, Single-threaded | 64-bit, Multi-threaded |
| Forex-centric | Multi-asset platform |
However, the timeline for the complete shutdown of MT4 is not fixed. But traders can still see the future of their trade with MT4.
Is MT4 being discontinued for MT5?
MT5 launched with more features and advance technology comparison to MT4.
For the rising of MT5, MT4 get worried to think about, “Is MT4 being discontinued?”. No, there are no immediate shutdown plans for MT4 in current situation.
Because, brokers and traders are slowly shifting to MT5.
This protective switch to MT5 ensures that traders stay ahead by fully utilizing the new platform’s advanced functionality. Therefore,
Potential Risks:
- Potential financial implications due to downtime or adjustment to new systems.
- There is a need for the redevelopment of custom tools and strategies.
- Security risks during the switch, such as data breaches or loss of information.
Potential Benefits:
- Access to advanced features and an improved user experience on newer platforms.
- Opportunity to optimize trading with the use of updated technology and tools.
- Growth in community support as traders migrate to active platforms.
Pro Suggestion:
Since MT5 is a recent addition to the Meta Traders platform. However, you should not disregard its advanced features.
You ought to acquire knowledge and conduct investigation on MT5.
Furthermore, you have the option to carry on with your trading using MT4. When, you can feel confident in your ability to engage in trading with MT5. Next, you should switch to MT5.
Final Words:
When MT5 was released with advanced functionality, rumors spread among MT4 users.
The rumor is that “MT4 is going to shoutdown.” So, traders want to know, is MT4 being discontinued? Officially, the discontinuation of MT4 has not been confirmed.
The good news is that the current scenario indicates that MT4 will not be discontinued.
Yes, MT4 is not discontinuing yet. Now learn how to add market watch in MT5.
