MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms among traders. While they share similarities, there are some important differences.
MT4 is widely used for forex and CFD trading and has a large ecosystem of Expert Advisors, indicators, and broker support.
MT5 is a newer multi-asset platform with more built-in tools, advanced backtesting, market depth, and MQL5 programming. Your choice depends on your trading goals, asset classes, strategy, and platform preferences.
For traders comparing MT4 vs MT5, the key decision points are:
Markets available
Trading tools and automation
Platform speed and usability
Strategy testing capabilities
Access to indicators and EAs
Quick comparison: MT4 vs MT5
MT4 | MT5 | |
Built for | Forex and CFD trading | Multi-asset trading |
Markets supported | Forex, indices, commodities and crypto | Forex, indices, commodities, crypto, shares and futures |
Release year | 2005 | 2010 |
Programming language | MQL4 | MQL5 |
Expert Advisors (EAs) | Large existing library | More advanced automation |
Technical indicators | Standard set | Expanded built-in indicators |
Back testing | Basic strategy testing | Multi-threaded advanced back testing |
Market depth | Not built in | Included |
User experience | Familiar and lightweight | More advanced functionality |
Consider MT4 if you're looking for:
Primarily trade forex
Already use MT4 EAs or indicators
Prefer a simpler trading environment
Want access to a large existing trader community
Consider MT5 if you're looking for:
Trade across multiple asset classes
Need more advanced charting and analysis
Want faster strategy testing
Use algorithmic trading and custom automation
What features may matter for traders
Markets and instruments
MT5 gives traders access to more instruments beyond forex, including shares and futures. For traders building diversified strategies, that flexibility matters.
Automation and strategy building
MT5’s MQL5 language supports more advanced programming and faster back testing. MT4 still remains popular because of its large EA ecosystem and long-standing community support.
Trading experience
MT5 includes more built-in technical indicators, while MT4 can be extended with additional tools, indicators, and broker-supported add-ons.
Indicators and analysis
MT5 includes more built-in indicators and analytical tools out of the box. MT4 can still be extended with third-party add-ons and premium indicators.
Bottom line
MT4 remains a strong choice for traders focused on forex and proven trading setups.
MT5 is built for traders who want broader market access, deeper analysis tools, and more advanced automation capabilities.
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 MT5 traders, including free premium indicators.
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Forex, indices, commodities, crypto, shares and futures