Comprehensive Comparison
MT4 vs MT5
Detailed comparison of MetaTrader platforms to help you choose the right one
MetaTrader 4
The Proven Classic
Released in 2005, became the industry standard for forex trading. Simple, reliable, and supported by most brokers.
MetaTrader 5
The Next Generation
Released in 2010, a multi-asset platform with advanced analysis tools and faster backtesting.
Feature Comparison
| Feature | MT4 | MT5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Order Types | 4 | 6 |
| Timeframes | 9 | 21 |
| Built-in Indicators | 30 | 38 |
| Graphical Objects | 31 | 44 |
| Programming Language | MQL4 | MQL5 |
| Multi-threading | No | Yes |
| Depth of Market | Limited | Full |
| Economic Calendar | No | Built-in |
| Asset Classes | Forex/CFD | Forex/Stocks/Futures |
| Hedging | Yes | Optional |
| Broker Availability | More common | Growing |
MT4
Pros
- • Simple, familiar interface
- • Huge community and resources
- • Compatible with most brokers
- • Thousands of free EAs/indicators
- • Ideal for forex trading
Cons
- • Limited timeframes
- • Slower backtesting
- • No stocks/futures support
- • Older technology
MT5
Pros
- • 21 timeframes
- • Multi-threaded backtesting
- • Trade stocks and futures
- • Full depth of market
- • Built-in economic calendar
Cons
- • MT4 EAs not compatible
- • Steeper learning curve
- • Some brokers don't support it
Which One Suits You?
MT4 is best for
- Forex-only traders
- Beginners
- Ready-made EA users
- Those preferring simplicity
MT5 is best for
- Stock and futures traders
- EA developers
- Advanced technical analysts
- Those needing fast backtesting
Migrating from MT4 to MT5
EAs Not Compatible
EAs must be rewritten in MQL5
Indicators
Some indicators need conversion
Learning Curve
MQL5 more powerful but complex