Forex Robot Reviews

Best MT5 EA (The Latest)

Best MT5 ea

The foreign exchange markets provide a lot of potential for the people to earn money owing to the fluctuations in the prices of the various currencies. While the forex trading needs a lot of parameters to be considered and a lot of interpretations to be made, various companies have come up with their versions of expert advisors which help the traders in making their decisions.

The most widely used platform for writing the forex robots is the MetaTrade4 or the MT4, however, recently in the fall of 2009, the successor of MT4, the new standard called the MetaTrade5 or MT5 is released for beta testing. There are following things which need to be considered when deciding which is the best MT5 ea solution for the trader.

First thing is to check is whether you actually want to move to MT5 or not. This is very important and the pros and the cons of the new system should be properly gauged. The MT5 comes with a lot of benefits in terms of speed and options. The best MT5 ea solutions are expected to have high performance and working speed with many additional charts and analytical tools as compared to the MT4. Apart from this, the MT5 also provides various operations like forex futures and options among others. However, the MT5 also has drawbacks like lack of support for hedging and other things which are perceived as features which are less helpful for traders.

However, the best MT5 ea solutions are expected to run much faster since the MT5 is based on MQL5 language, which allows more data structures and classes and hence also allows easier migration of the C/C++ code.

Other than this, there is a problem with the MT5 robots is that they are based on a platform which is not just an enhancement of the existing MT4 architecture, but a completely new codebase and hence the systems are not truly backward compatible. As a result of this, many brokers will not like to move to the MT5 platform even when it comes out from Beta testing.

Thus, to ensure a smoother transition the best MT5 ea solutions will probably need to be written in a way that they allow some virtual libraries to connect the two flows. A lot of work is being done in this direction of converting the existing expert advisors and the signal based solutions from MT4 to MT5.

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