I download MT4 but install MT5: What happened and how to fix it
If you are a forex trader, you might have heard of MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular and widely used trading platforms in the online space. But what if you download MT4 but install MT5 by mistake? How can you tell the difference between the two platforms and how can you switch to the one you want? In this article, we will explain what are MT4 and MT5, why you might have installed the wrong platform, and how to uninstall MT5 and install MT4 in a few simple steps.
i download mt4 but install mt5
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What are MT4 and MT5?
MT4 and MT5 are third-party trading platforms that allow you to access the forex market and other financial instruments through your chosen broker. They offer advanced technical analysis tools, charting features, automated trading robots, and various order types. However, they are not the same platform and have some key differences that you should be aware of.
MT4: The most popular forex trading platform
MT4 was launched in 2005 by MetaQuotes Software and quickly became the industry standard for forex trading. It is designed mainly for forex traders who want to use technical indicators, custom scripts, and expert advisors (EAs) to automate their trading strategies. It supports four types of pending orders (buy limit, sell limit, buy stop, sell stop) and two execution modes (instant and market). It also has a user-friendly interface, a built-in economic calendar, an email system, and a chat function. According to MetaQuotes, more than 1,000 brokers offer MT4 to their clients.
MT5: The advanced multi-asset trading platform
MT5 was released in 2010 as an upgrade to MT4, but it is not a successor or a replacement. It is a separate platform that offers more features and capabilities than MT4. It is suitable for traders who want to trade not only forex but also stocks, futures, options, bonds, and cryptocurrencies. It supports six types of pending orders (buy limit, sell limit, buy stop, sell stop, buy stop limit, sell stop limit) and four execution modes (instant, market, request, exchange). It also has a depth of market feature, a time & sales report, 38 technical indicators, 44 graphical objects, 21 timeframes, an economic calendar, an email system with attachments, a chat function, and a built-in MQL5 community.
Why did I install MT5 instead of MT4?
If you download MT4 but install MT5 on your device, you might be confused and frustrated. How did this happen and how can you fix it? Here are some possible reasons why you installed the wrong platform and how to check which one you have.
Possible reasons for installing the wrong platform
You downloaded the installer from an unreliable source that mislabeled or mixed up the files.
You clicked on the wrong link or button on the broker's website that directed you to the wrong platform.
You did not pay attention to the installation wizard or the file name that indicated which platform you were installing.
You already had MT5 installed on your device and you accidentally ran it instead of installing MT4.
How to check which platform I have installed
Check the icon on your desktop or taskbar. If it is blue with four numbers (MetaTrader 4), then you have installed MT4. If it is red with five numbers (MetaTrader 5), then you have installed MT5.
Check the title bar of the platform window. If it says MetaTrader 4, then you have installed MT4. If it says MetaTrader 5, then you have installed MT5.
Check the version number of the platform in the Help menu. If it starts with 4, then you have installed MT4. If it starts with 5, then you have installed MT5.
How to uninstall MT5 and install MT4
If you have confirmed that you have installed MT5 instead of MT4, and you want to switch to the platform you prefer, you need to uninstall MT5 and install MT4. Here are the steps to do that for different devices and operating systems.
How to uninstall MT5 from Windows, Mac OS, Android, and iOS
Device
Steps
Windows
Go to Control Panel > Programs > Uninstall a program.
Select MetaTrader 5 and click Uninstall.
Follow the instructions on the screen to complete the process.
Mac OS
Open Finder and go to Applications.
Drag MetaTrader 5 to the Trash.
Empty the Trash to delete the program.
Android
Open Settings and go to Apps or Applications.
Select MetaTrader 5 and tap Uninstall.
Confirm your action by tapping OK.
iOS
Tap and hold the MetaTrader 5 icon on your home screen until it wiggles.
Tap the X on the top left corner of the icon.
Confirm your action by tapping Delete.
How to download and install MT4 from a reliable broker
After you have uninstalled MT5 from your device, you can download and install MT4 from a reliable broker that offers this platform. Here are some tips to do that:
Choose a broker that is regulated, reputable, and has good reviews from other traders. You can use online resources such as [Forex Peace Army] or [Trustpilot] to check the ratings and feedback of different brokers.
Visit the broker's website and look for the download link for MT4. Make sure it is clearly labeled and not mixed up with MT5 or other platforms. You can also contact the broker's customer support if you have any doubts or questions.
Download the installer file for your device and operating system. Check the file name and size to make sure it is correct and not corrupted. You can also scan the file with an antivirus program before running it.
Run the installer file and follow the instructions on the screen. Choose a destination folder for the program and agree to the terms and conditions. Wait for the installation to finish and launch the platform.
Login to your trading account using your credentials provided by the broker. If you don't have an account yet, you can register for one on the broker's website or on the platform itself. You can also use a demo account to practice trading without risking real money.
Customize your platform settings, charts, indicators, EAs, and other features according to your preferences and trading style. You can also access tutorials, guides, and videos on how to use MT4 on the broker's website or on [MetaQuotes' official website].
Conclusion
In conclusion, if you download MT4 but install MT5 by mistake, don't panic. You can easily fix this issue by uninstalling MT5 and installing MT4 from a reliable broker. Just make sure you check which platform you have installed before trading and use the one that suits your needs and goals. Both platforms are powerful and popular, but they have some differences that you should be aware of. We hope this article helped you understand what are MT4 and MT5, why you might have installed the wrong platform, and how to uninstall MT5 and install MT4 in a few simple steps.
FAQs
What is the difference between MT4 and MT5?
The main difference between MT4 and MT5 is that MT4 is designed mainly for forex trading, while MT5 is suitable for multi-asset trading. MT5 also has more features and capabilities than MT4, such as more pending order types, more execution modes, more technical indicators, more timeframes, a depth of market feature, a time & sales report, and a built-in MQL5 community.
Can I use both MT4 and MT5 on the same device?
Yes, you can use both MT4 and MT5 on the same device, as they are separate platforms that do not interfere with each other. However, you need to download and install them from different sources and use different login credentials for each platform. You also need to make sure you have enough storage space and memory on your device to run both platforms smoothly.
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Which platform is better: MT4 or MT5?
There is no definitive answer to this question, as it depends on your personal preferences, trading style, and goals. Some traders prefer MT4 for its simplicity, familiarity, and compatibility with many brokers and EAs. Others prefer MT5 for its versatility, functionality, and access to more markets and instruments. You can try both platforms for free using a demo account and see which one suits you better.
How can I transfer my data and settings from MT4 to MT5 or vice versa?
Unfortunately, you cannot transfer your data and settings from MT4 to MT5 or vice versa, as they are not compatible with each other. This means that you cannot use your MT4 indicators, scripts, EAs, templates, profiles, or history on MT5 or vice versa. You need to recreate them manually or find equivalent versions on the MQL4 or MQL5 marketplaces.
How can I contact MetaQuotes for support or feedback?
If you have any questions, issues, or suggestions regarding MT4 or MT5, you can contact MetaQuotes directly through their official website. You can also join their MQL4 or MQL5 community forums and interact with other traders and developers who use their platforms.
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