Platform Comparison Guide

MT4 vs MT5: Complete Comparison

Detailed comparison of MetaTrader 4 and MetaTrader 5 platforms. Discover which trading platform is best for your Expert Advisors and trading strategy.

MetaTrader 4
Classic

The industry standard for forex trading since 2005. Simple, reliable, and supported by virtually all brokers.

Massive EA library (10,000+)
90% broker support
Beginner-friendly
Lightweight & fast
Limited timeframes
Single-threaded testing

Best For:

Forex traders, beginners, those using existing EAs, traders who prefer simplicity

MetaTrader 5
Advanced

The next generation platform with advanced features for professional traders and EA developers.

21 timeframes available
Multi-threaded testing
Built-in economic calendar
Market depth (DOM)
Fewer available EAs
Steeper learning curve

Best For:

Professional traders, EA developers, multi-asset traders, those needing advanced analysis tools

Detailed Feature Comparison

FeatureMT4MT5
Release Year
2005
2010
Programming Language
MQL4
MQL5
Timeframes
9 timeframes
21 timeframes
Order Types
4 types
6 types + Stop Limit
Technical Indicators
30 indicators
38+ indicators
Graphical Objects
31 objects
44 objects
Strategy Tester
Single-threaded
Multi-threaded
Market Depth
Not available
Available
Economic Calendar
Not built-in
Built-in
Broker Adoption
90% of brokers
60% of brokers
EA Availability
10,000+ EAs
5,000+ EAs
Community Support
Massive community
Growing community
Resource Usage
Lightweight
More demanding
Simplicity
Very simple
More complex

Which Platform Should You Choose?

Choose MT4 If You:
  • Are new to forex trading and want simplicity
  • Want to use existing, proven Expert Advisors
  • Trade primarily forex pairs
  • Need maximum broker compatibility
  • Have a lower-spec computer
  • Value community support and resources
Choose MT5 If You:
  • Need advanced charting and analysis tools
  • Develop and test your own EAs
  • Trade stocks, futures, or cryptocurrencies
  • Want faster backtesting capabilities
  • Need market depth information
  • Prefer having all tools in one platform

Frequently Asked Questions

Should I use MT4 or MT5 for Expert Advisors?
For EA trading, MT4 remains popular due to its vast library of existing EAs and simpler programming. However, MT5 offers superior backtesting with multi-threading, making it better for EA development and optimization. Choose MT4 for ready-made EAs, MT5 for developing new strategies.
Can I transfer my MT4 EA to MT5?
MT4 EAs cannot run directly on MT5 due to different programming languages (MQL4 vs MQL5). The code needs to be converted or rewritten. However, many popular MT4 EAs have MT5 versions available. YoForex offers both MT4 and MT5 versions for most EAs.
Which platform is better for beginners?
MT4 is generally better for beginners due to its simplicity, massive community support, and abundance of free resources. MT5 has more features but can be overwhelming for new traders. Start with MT4 and transition to MT5 as your needs grow.
Do all brokers support both MT4 and MT5?
No, while most forex brokers offer MT4, not all provide MT5. About 90% of brokers support MT4, while only 60% offer MT5. Always check with your broker before choosing a platform. Some brokers offer both, allowing you to choose.
Is MT5 replacing MT4?
While MetaQuotes (the developer) has stopped selling new MT4 licenses to brokers and focuses on MT5 development, MT4 remains extremely popular. The transition is gradual, and MT4 will likely remain relevant for several more years due to its massive user base.

Get Started with Expert Advisors

Download free EAs for both MT4 and MT5 platforms