Another thing to note is that there’s no backwards compatibility for these languages, meaning programs written for MT4 can’t run on MT5. This can be a limitation for traders who want to upgrade, and it’s important to note that in the future, it’s unlikely that program language upgrades will be extended into MQL4 as well as MQL5. Give yourself a better chance at the Forex market by hosting your trading platform right next to your broker. Easy-to-use interfaces and quick boot times have made Apple computers popular with day traders, but ongoing compatibility issues with iOS may prove problematic even for die-hards.

DMA Pricing

On the other hand, if you want to take your technical analysis and research to the next level and you wish to trade non-forex CFDs – MT5 could be the better option. mt4 vs mt5 This is because you will have access to more indicators, drawing tools, execution types, and orders. In the case of MT4, the third-party platform offers 30 built-in technical indicators. You will, however, also have access to more than 2,000 custom indicators on a fee-free basis. If you’re looking to take your analytical endeavors to the very next level – MT4 also offers 700 paid technical indicators. Automated trading is possible with MT5 through the use of automated trading applications such as Expert Advisors (EAs).

Charting Tools and Timeframes

• This might include the likes of precious metals, energies, cryptocurrencies, stocks, or indices.
• If you’re looking to take your analytical endeavors to the very next level – MT4 also offers 700 paid technical indicators.
• CompareForexBrokers.com is not an investment adviser, financial adviser, or other financial services professional and does not offer investment advice.
• Though MT4 and MT5 look nearly identical on the surface, there are some notable differences between the two trading platform versions.
• This is because you need to log into MT4/5 with your brokerage credentials.

MT5’s Strategy Tester includes new advanced settings and supports multi-threaded backtests in 64 bits, leading to faster backtests than was previously possible. MT5’s Strategy Tester enables traders to test and optimize software built with MQL5 – before the software is run on live accounts with real money at stake. Technical analysis tools enable traders to assess investments and identify trading opportunities in the market – whether they are bullish, bearish, or sideways. Common tools for technical analysis include charts, drawing tools, and backtests.

• On the contrary, this is determined by the broker that you link MT4/5 up with.
• Visit my full review of FP Markets to learn more about its pricing, range of markets, and available platforms.
• MT5 is the newest version of the MetaTrader platform and thus receives full support from the developer.
• MetaTrader 4 has been on the market for twenty years and has established a strong, loyal client base.
• Check out our Trust Score page to learn more about regulation, and read my educational series about forex scams to learn more about the most common scams (and how to avoid them).

Popular Forex Guides

MT4 remains the forex trading standard with unmatched community support and proven reliability. MT5 represents the future with superior technology and multi-asset capabilities. With 70-80% of retail traders losing money, platform selection alone won’t guarantee success, but choosing correctly optimizes your trading environment for long-term profitability. Despite the loyalty of its customer base, it’s clear MetaQuotes sees MT5 as the platform of the future.

Best MetaTrader brokers

He is a forex industry expert and an active fintech and crypto researcher. Join the Active Trader Program for monthly cash rebates and personalized support that grows with your account. With nearly two decades of longevity, MetaTrader 4 has become a staple of the online trading sector.

Check out my guide to the Best Zero Spread Brokers to find forex brokers with the lowest spreads in the industry. MetaTrader 5 is a next-generation trading platform and the successor to MetaTrader 4. Like MT4, MT5 is free to use (so long as your forex broker has paid to license the platform for its clients). Given the importance of charting for successful technical analysis, MT5 has a definite edge in this category. The newer forex trading platform offers more sophisticated charting capabilities compared to its elder sibling, including a larger selection of technical indicators.

Is MetaTrader 5 better than MetaTrader 4?

What we really like about MT4 and MT5 is that both platforms supported demo trading. This means that you can get a feel for your chosen platform in a 100% risk-free environment. Any positions that you take will mirror real-life market conditions – in terms of pricing, volatility, liquidity, and execution times. MT5’s futures support includes automatic contract rollovers and proper expiration handling – features absent in MT4. Stock traders gain access to real shares from major exchanges, not just CFDs. The cryptocurrency integration allows trading major pairs with institutional-grade execution.

With two additional pending order types, MT5 offers more risk management options for traders implementing complex automated trading strategies. Algorithmic trading is possible with MT4’s more limited range of stop and limit order types. However, the absence of buy-stop and sell-stop limits makes it difficult for MT4 traders to take full advantage of market movements. Metaquotes has 2 trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

MT4 meanwhile only supports single-thread operation, which means some complicated programs will take much longer, like backtesting. MetaTrader 4 has been on the market for twenty years and has established a strong, loyal client base. When deciding between MT4 and MT5, you should always consider the account options, range of markets, and execution methods available to you with your broker’s MetaTrader offering. Similar to most brokers, I prefer its MT5 offering over MT4 due to the range of markets and pricing offered on its MT5 accounts. This guide compares MT4 and MT5 across key factors like usability, execution speed, available assets, and trading tools.

Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). MetaTrader 4 is not a broker; it is a third-party trading platform that connects to a forex broker for forex trading. You’ll still need to choose a great forex broker, whether you use MT4 or MT5.

In sum, MT4 and MT5 are both powerful trading platforms, and neither is inherently “better” in every situation. MT4 and MT5 are among the most popular platforms for online trading, letting users access the markets from desktop, web, or mobile devices. The user experience across both platforms is fairly consistent; menus may look slightly different, but the primary functions like placing orders, viewing charts, and managing accounts are similar. Both platforms allow hedging and offer deep customization of the user interface. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are third-party trading platforms. MT4 was specifically developed for Forex trading, whereas MT5 was created to streamline trading in non-Forex CFDs.

Check out my guide to the best hedging brokers to find a broker that allows you to explore a hedging strategy. IC Markets stands out for its MetaTrader offering for a number of reasons that help make it the best overall broker in this category for 2025. Add-ons and integrations allow you to customize your MT4 or MT5 interface to align with your unique trading style. If you are residing in the EU region, please click ‘Continue to switchmarkets.eu,’ where you will be redirected to our EU regulated website. It also explains when each platform might be a better fit and highlights the strengths of both so you can choose based on your trading goals.

You can mark channels, shapes, symbols or chart lines to include in your analysis. MT5 includes 21 more analytical objects than MT4, allowing you to perform more detailed and specific reports. Here’s a look at what MT5 does well and the trade-offs you’ll experience by switching to the newer platform. If you anticipate working with smaller brokers or require maximum compatibility, MT4 may be safer. If your primary focus is Forex, MT4 will give you all the tools you need without unnecessary complexity. MT5 is better if you want to trade a diversified portfolio (stocks, ETFs, indices, commodities, or cryptocurrencies).

In fact, you simply need to log in with your MT4/5 credentials via the app and your account particulars will be readily available. If you want the option of being able to place orders on the move – you’ll be pleased to know that both MT4 and MT5 offer a fully-fledged mobile app. Although you will be placing your orders through a third-party platform – both MT4 and MT5 will execute your positions in real-time.