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Metatrader 4 or 5?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5)* are both popular trading platforms among traders. While they share similarities, there are some important differences.

Choosing between the two platforms depends on your specific needs and preferences. Here are the key differences to consider:

  • Market availability: MT4 has been on the market since 2005 and is used by many traders worldwide. MT5 was released in 2010 as an updated version of MT4, but it hasn't completely replaced it. MT4 is still widely used and is even supported by more brokers.

  • Asset classes: MT4 was primarily designed for trading forex (currencies) and contracts for difference (CFDs). MT5, on the other hand, supports a wider range of asset classes, including forex, CFDs, stocks, futures, and options. If you want to trade multiple asset classes, MT5 may be a better fit.

  • Hedging: MT4 allows hedging, meaning you can hold multiple positions in the same trading instrument in opposite directions (buy and sell) simultaneously. MT5 also supports hedging but offers additional options for netting, which aggregates positions and displays only the total position in one direction. If you prefer hedging strategies, MT4 may be preferable. However, some brokers have implemented workarounds to enable hedging via MT5.

  • Programming languages: Another important difference lies in the programming languages supported by the platforms. MT4 uses MQL4 (MetaQuotes Language 4), while MT5 uses MQL5 (MetaQuotes Language 5). MQL5 is more advanced and allows for greater customization and more sophisticated trading strategies. Additionally, MQL5 supports object-oriented programming, which facilitates the development of complex trading robots and indicators. If you require advanced programming skills, MT5 may be a better fit.

  • Technical indicators: MT5 offers a wider range of built-in technical indicators than MT4. It includes additional indicators for market analysis, making it a more comprehensive platform for technical traders. However brokers like CMC Markets, which offer MetaTrader 4, can extend it with add-ons and indicators.

  • Available EAs: Since MT4 has been on the market longer, more EAs are available and have been successfully tested for years. While MT5 offers many advanced options, a less sophisticated but proven setup is sufficient for many strategies and may be suitable for traders who value a simpler yet effective approach.

  • Backtesting: MT5 offers more advanced and accurate backtesting capabilities. It allows users to optimize and test trading strategies against historical data, taking into account variables such as spread, slippage, and commissions. MT4's backtesting functionality is more limited in this regard.

  • Market Depth: MT5 provides access to market depth information, which displays the order book of a specific instrument, including buy and sell orders at various price levels. This feature can be useful for analyzing liquidity and making more informed trading decisions. MT4 does not have a native market depth feature.

  • User Interface: Both platforms have similar user interfaces, but MT5 offers some improvements and additional features compared to MT4. However, if you're already familiar with MT4, switching to MT5 may require some adjustment.

It's worth noting that many brokers still offer MT4 as their primary platform due to its popularity and the many MT4-based trading systems available. However, MT5 is gaining traction and is becoming more widely used.

Ultimately, the decision between MT4 and MT5 depends on your specific trading needs and preferences. When making your decision, consider the asset classes you want to trade, the trading strategies you employ, and the programming capabilities you require.

Discover what CMC Markets has to offer MT4 traders —including free premium indicators and extensions like Autochartist .

Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.


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CMC Markets Canada Inc. is a member of the Canadian Investment Regulatory Organization and a Member of the Canadian Investor Protection Fund. CFDs and OTC options are distributed in Canada by CMC Markets Canada Inc. acting as principal. Trading CFDs and OTC options involves a high degree of risk and may not be suitable for all investors. Investors should be prepared for the risk of losing their entire investment and, in some cases, further amounts. OTC options are non-exchange traded derivatives and may be less liquid, more volatile, and subject to greater counterparty risk than exchange-traded options. CFD trading is available in jurisdictions in which CMC Markets is registered or exempt from registration and, in the province of Alberta, is available to Accredited Investors only. OTC options are offered only to eligible clients, subject to applicable regulatory requirements. CMC Markets is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of CFDs or OTC options. For full details of our fees, please refer to our rates schedule. CMC Markets is remunerated through the spread, which is the difference between the bid and ask price. Commission and holding costs may also apply.

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