Quick answer
MT4 and MT5 are separate trading platforms from MetaQuotes. MT5 has more documented timeframes, indicators and pending-order types in MetaQuotes’ comparison, and it supports a broader platform feature set; MT4 may still fit a user whose broker, tools or existing Expert Advisors require it. Neither platform regulates a broker or guarantees execution.
Key takeaways
- Check which platform and server the exact broker account supports before choosing.
- MT5 offers a broader feature set in MetaQuotes’ official product comparison.
- MT4 and MT5 use different programming languages and are not fully interchangeable.
- Platform downloads do not establish broker authorization, account eligibility or product access.
- Compare account costs and execution separately from platform tools.
MT4 vs MT5 at a Glance
| Platform maker | Both are developed by MetaQuotes; the broker supplies the account, prices and service. |
|---|---|
| Pending order types | MetaQuotes comparison: MT4 lists 4; MT5 lists 6. |
| Chart timeframes | MetaQuotes comparison: MT4 lists 9; MT5 lists 21. |
| Technical indicators | MetaQuotes comparison: MT4 lists 30; MT5 lists 38. |
| Graphical objects | MetaQuotes comparison: MT4 lists 31; MT5 lists 44. |
| Automation | MT4 uses MQL4; MT5 uses MQL5. Existing code is not automatically compatible across both. |
What Is the Main Difference Between MT4 and MT5?
MT4 is widely associated with forex trading and a mature ecosystem of indicators and Expert Advisors. MT5 was designed as a newer multi-asset platform and MetaQuotes documents additional timeframes, order types, indicators and strategy-testing capabilities. Exact functionality also depends on the broker’s server and configuration.
The feature counts above come from MetaQuotes’ own comparison page. They describe software features, not the quality of a broker’s execution, its instrument list or whether a customer can open an account in a particular country.
Programming and Existing Expert Advisors
MT4 automation uses MQL4, while MT5 uses MQL5. A strategy or custom indicator built for one environment may need to be rewritten or adapted for the other. Before switching, check source-code availability, developer support, external libraries and the broker’s policy on automated trading.
Do not assume that an EA will behave identically after migration. Validate symbols, contract sizes, order handling, timezones, tick data, execution modes and risk limits in the destination environment.
Which Platform Fits Different Traders?
| Existing MT4 workflow | MT4 can be practical when your broker supports it and you rely on MT4-specific tools or code. |
|---|---|
| New multi-asset setup | MT5 may be a better starting point if the broker supports the required products and its extra platform functions matter to you. |
| Automated strategy user | Choose based on code compatibility, testing, broker rules and available data—not platform age alone. |
| Mobile or web user | Compare the broker’s current mobile and web versions directly; availability varies by server and account. |
Broker Compatibility, Regulation and Cost
A broker can offer MT4, MT5, both or neither, and may use separate servers and accounts for each. Verify the exact company and product in the account agreement. MetaQuotes supplies software; it does not authorize the broker or guarantee the account’s protections.
The platform does not determine the total cost. Check spreads, commission, financing, currency conversion and other account charges for the same instrument and entity. Demo prices and fills may differ from live trading.