Guide
MT4 vs MT5: what is the difference?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two trading platforms from the same company. MT5 is newer, but MT4 remains widely used, so brokers often offer both.
What they have in common
Both run automated strategies, custom indicators and charting, on desktop, web and mobile. Both connect to whichever broker offers them; the platform itself is not the broker.
For a trader placing manual forex trades, the day-to-day experience is broadly similar, which is one reason MT4 has stayed popular.
Where MT5 goes further
MT5 adds more timeframes, more built-in indicators, an economic calendar and depth-of-market data. It supports additional order types and a different internal accounting model.
MT5 is designed to handle a wider range of markets, including exchange-traded instruments, where MT4 was built mainly around forex and CFDs.
The programming language difference
MT4 uses the MQL4 language for expert advisors and indicators; MT5 uses MQL5. They are not interchangeable, so an MT4 tool will not run unchanged on MT5.
If you rely on a specific expert advisor or indicator, which platform you need may be decided by what language it is written in.
Questions
Is MT5 better than MT4?
Not automatically. MT5 is more capable across more markets, but MT4 is simpler and still fully supported. The right choice depends on the markets you trade and the tools you use.
Can I use my MT4 expert advisors on MT5?
No. MT4 uses MQL4 and MT5 uses MQL5, so a tool must be rewritten or replaced to move between them.
Which brokers offer MT4 and MT5?
Many brokers offer one or both. You can check which platforms each broker documents on its own website in our source-checked broker profiles.
This is general information, not financial advice. Trading leveraged products such as forex and CFDs carries a high risk of losing money. See how we verify facts in our methodology, use our trading calculators, or browse all guides.