When it comes to online trading, few names carry as much weight as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Developed by MetaQuotes, these platforms have become the backbone of global retail trading—especially in forex and CFD markets. But with both tools available, traders often ask: Which one should I use?
This in-depth comparison breaks down the key differences between MT4 and MT5 across functionality, usability, performance, and real-world application—helping you make an informed decision based on your trading style, goals, and technical needs.
Core Differences: The DNA of MT4 vs MT5
Despite coming from the same developer, MT4 and MT5 are built for different eras—and different traders.
Target Markets and Supported Instruments
- MT4: Launched in 2005, MT4 was designed primarily for forex and CFD trading. It supports major asset classes like gold, silver, crude oil, and currency pairs—but offers limited access to exchange-traded products like stocks or futures.
- MT5: Released in 2010, MT5 expands the scope significantly. It supports stocks, futures, options, bonds, and ETFs alongside traditional forex and commodities. This makes it ideal for traders seeking diversified portfolios across multiple financial markets.
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Enhanced Features and Technical Capabilities
MT5 isn’t just an update—it’s a full evolution.
- Technical Analysis Tools:
MT5 includes 38 built-in technical indicators (up from 30 in MT4) and supports 21 timeframes compared to MT4’s 9. This allows for deeper multi-timeframe analysis and more precise strategy development. - Economic Calendar Integration:
Unlike MT4, MT5 has a built-in economic calendar, giving users real-time access to high-impact news events that can affect market volatility. - Market Depth (Level II Data):
MT5 introduces Depth of Market (DOM), showing live buy/sell order volumes at various price levels—an essential tool for scalpers and institutional-style traders. - Algorithmic Trading & Backtesting:
Powered by MQL5, MT5 supports multi-threaded backtesting, allowing simultaneous testing across multiple currency pairs using real tick data. It also simulates network latency and slippage more accurately than MT4’s MQL4 environment. - Order Types & Execution:
MT5 offers 6 types of pending orders (vs. 4 in MT4), supports partial fills, and enables order grouping—critical for complex strategies involving position scaling.
User Experience: Simplicity vs. Sophistication
For Beginners: Why MT4 Still Shines
MT4 remains popular among new traders due to its:
- Clean, intuitive interface
- Low system requirements
- Vast library of free indicators, EAs (Expert Advisors), and tutorials
- Widespread community support
If you're just starting out or prefer straightforward execution without overwhelming features, MT4 is easier to master quickly.
For Advanced Users: The Power of MT5
MT5 demands a steeper learning curve but rewards users with:
- Professional-grade analytics
- Superior backtesting accuracy
- Multi-market access
- Better reporting tools (netting vs. hedging accounting)
While less beginner-friendly, MT5 is increasingly becoming the go-to platform for serious traders who want precision, speed, and scalability.
Note: MQL4 and MQL5 are not compatible. EAs and scripts written for MT4 cannot run natively on MT5 without rewriting.
Who Should Use MT4?
✅ New traders looking for a simple, stable entry point
✅ Short-term traders relying on fast execution and minimal lag
✅ Hedgers (on brokers that allow it), since MT4 supports holding opposing positions in the same symbol
✅ EA developers building basic automated strategies with lower coding complexity
Who Should Choose MT5?
✅ Multi-asset investors trading stocks, futures, or options beyond forex
✅ Quantitative traders needing robust backtesting and strategy optimization
✅ Long-term investors subject to FIFO (First In, First Out) rules under U.S. regulations—MT5 enforces this by default
✅ Tech-savvy users who value modern architecture, 64-bit support, and real-time data fidelity
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Trading Costs: What You’re Not Being Told
While platform choice doesn’t directly set fees, it influences cost structures indirectly.
Spreads & Commissions
Both platforms rely on broker pricing models. However:
- MT5 may involve stock trading commissions if accessing equities
- Some brokers offer tighter spreads on MT5 due to improved matching engines
Swap Rates & Overnight Financing
MT5 uses netting as the default position management system (though hedging is possible on some brokers). This affects how swap rates are calculated—especially when holding multiple positions.
Also, because MT5 supports accurate historical interest rate data, swap calculations are more transparent.
Development & Learning Investment
Transitioning to MT5 means investing time or money:
- Learning MQL5 syntax (more complex than MQL4)
- Rewriting or purchasing new EAs
- Adjusting strategies to accommodate FIFO rules
For many, this transition cost delays adoption—even if the long-term benefits outweigh initial effort.
Real-World Case Study: Why JRJR Gold Upgraded to MT5
International precious metals broker JRJR Gold completed a full migration from MT4 to MT5 in 2025—a move reflecting broader industry trends.
Key benefits observed:
- Improved Stability: 64-bit architecture handles high-frequency trading loads with reduced slippage during volatile news events.
- Advanced Analytics: Market depth tools help clients analyze gold liquidity imbalances in real time.
- Seamless Transition: Historical trade records were migrated without loss, minimizing user disruption.
This shift signals confidence in MT5’s long-term viability—even among legacy MT4 power users.
Frequently Asked Questions (FAQ)
Q: Can I use both MT4 and MT5 simultaneously?
Yes. Most reputable brokers offer dual-platform support. You can run both clients side-by-side and choose which suits each trading strategy.
Q: Is MT4 being discontinued?
MetaQuotes has stopped major updates to MT4, focusing all development on MT5. While still functional, MT4 is effectively in maintenance mode, meaning no new features will be added.
Q: Does MT5 have better execution speed?
Not inherently—but its modern architecture and support for faster data processing often result in lower latency, especially during peak volatility.
Q: Can I transfer my EA from MT4 to MT5?
Not directly. You’ll need to rewrite or adapt your MQL4 code into MQL5. Some third-party converters exist, but manual optimization is usually required.
Q: Which platform has better mobile support?
Both have strong mobile apps (iOS/Android). However, MT5’s mobile version offers richer charting and deeper integration with desktop functionality.
Q: Is hedging possible on MT5?
Yes—but it depends on your broker. While MT5 supports hedging in its design, U.S.-regulated brokers enforce FIFO rules that prohibit holding opposite positions in the same instrument.
Final Verdict: It’s Not About “Better”—It’s About Fit
There’s no universal winner between MT4 and MT5. The right choice depends entirely on your trading profile:
- Stick with MT4 if you prioritize simplicity, fast execution, and proven reliability for basic forex/CFD strategies.
- Upgrade to MT5 if you trade multiple asset classes, rely on algorithmic systems, or want future-proof technology aligned with evolving market standards.
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The Future Is Multi-Platform Flexibility
As the industry shifts toward integrated ecosystems, the smartest approach is to work with a broker that supports both MT4 and MT5—giving you the freedom to switch based on strategy, market conditions, or personal preference.
Ultimately, the goal isn’t to pick sides—it’s to build a toolkit that adapts to your journey as a trader.
Whether you're mastering your first chart pattern or deploying sophisticated quant models, choosing the right platform lays the foundation for long-term success.