Home
»
Guides
»
How to buy Crypto with MetaTrader 4 or MetaTrader 5

How to buy Crypto with MetaTrader 4 or MetaTrader 5

Dylan Matthews
Fact Checked
Jul 29, 2022

Summary: The MetaTrader 4 (MT5) & MetaTrader 5 (MT5) platform does not offer cryptocurrency trading for coins like Bitcoin and Ethereum.

Investors will need to use a regulated digital asset platform that offers Crypto and Crypto CFDs like eToro.

Table of Contents

Platform Highlights

Can I buy Crypto with MetaTrader 4 (MT4)?

Unfortunately, no. The MetaTrader 4 (MT4) platform is not compatible with cryptocurrency wallets and technology, and they do not offer Crypto CFDs. This means you cannot use trading platforms like Forex.com or IG that use MT4 to trade digital assets.

MetaTrader4 Crypto
The MetaTrader 4 platform.

Can I buy Crypto with MetaTrader 5 (MT5)?

The MetaTrader 5 Platform does not offer cryptocurrency trading, crypto wallets or digital asset staking with their trading software.

Best way to buy Crypto without MT4 or MT5?

The best way to buy Bitcoin and Ethereum is on a regulated digital asset platform like eToro. eToro offers investors the ability to buy actual cryptocurrencies, or to trade them via CFDs. This means that you never have to actually own the underlying asset, and can instead speculate on the price.

eToro is regulated by CySEC and the FCA, ensuring that your money is safe. They also offer a unique feature called Social Trading, which allows you to copy the trades of other successful investors on the platform.

You can get started with this simple guide:

  1. Create an account: Sign up to the eToro platform and verify your identity (personal or company).
  2. Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit funds via Bank Transfer, Debit Card or Credit Card.
  3. Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the fiat amount you want to buy and execute your trade.
Trade Crypto, Stock, ETF and Commodity CFDs with eToro.

What is MetaTrader 4?

MetaTrader 4 is a trading platform developed by MetaQuotes Software for online trading in the forex, contract for differences (CFDs) and futures markets. MT4, as it is commonly known, was released in 2005 and has since become the most popular trading platform in the world. The platform is available for use by individuals as well as brokers and is available in over 30 languages.

MetaTrader 4 is a highly flexible and customizable platform that provides a wide range of features and tools for traders. The platform supports several types of orders, including market orders, limit orders, stop-loss orders, and trailing stop orders. It also allows traders to create custom indicators and expert advisors (EAs) for use in automated trading. MetaTrader 4 also provides a mobile trading app for Android and iOS devices, as well as a web-based platform.

What is MetaTrader 5?

MetaTrader 5 is the successor to MetaTrader 4 and was released in 2010. MT5 is a more advanced platform that offers a wider range of features and tools for traders. The platform supports a wider range of order types, including market orders, limit orders, stop-loss orders, trailing stop orders, and pending orders. It also allows for the creation of custom indicators and expert advisors (EAs). MetaTrader 5 also provides mobile trading apps for Android and iOS devices, as well as a web-based platform.

MetaTrader 5 is not backward compatible with MetaTrader 4, which means that EAs and indicators developed for MT4 will not work on MT5. However, many brokers offer both platforms to their clients.

MetaTrader 5
MetaTrader 5: The upgraded platform.

What is the difference between MetaTrader 4 and MetaTrader 5?

The main difference between MetaTrader 4 and MetaTrader 5 is that MT5 is more advanced and offers a wider range of features and tools. MT4 is still widely used by traders and brokers, but MT5 is slowly gaining popularity. Another difference is that MT5 is not backward compatible with MT4, which means that EAs and indicators developed for MT4 will not work on MT5. However, many brokers offer both platforms to their clients.

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

Twitter
View Posts