MetaTrader 4 vs MetaTrader 5
Side-by-side comparison of features, automation, and ideal use cases.
The short answer
MetaTrader 4 wins on:
- marketplace size
- broker availability
MetaTrader 5 wins on:
- depth of market
- native multi-asset
- charting quality
- built-in economic calendar
Pick MT4 if: you already own MT4 EAs and do not want to rewrite them in MQL5.
Pick MT5 if: you trade across forex, stocks, and futures or are starting fresh on MQL.
Side-by-side comparison
| Feature | MetaTrader 4 | MetaTrader 5 | Verdict |
|---|---|---|---|
| Best for | Legacy EAs | Multi-asset | Different audiences - see below |
| Native algo language | MQL4 | MQL5 | MT4: MQL4; MT5: MQL5 |
| Cloud-hosted bots | Tie - neither offers cloud bots | ||
| Depth of Market | MT5 wins - true order-book visibility | ||
| Multi-asset (stocks, futures) | MT5 wins - stocks and futures alongside forex | ||
| Social trading | Tie - neither offers social trading | ||
| Copy trading | Tie - both copy trading | ||
| Charting quality | Basic | Good | MT5 wins (Good vs Basic) |
| Mobile app | Good | Good | Tie (both Good) |
| Marketplace size | Huge | Large | MT4 wins (Huge vs Large) |
| Built-in indicators | 30 | 38 | MT5 wins (38 vs 30) |
| Economic calendar | MT5 wins - built-in event schedule | ||
| News integration | MT5 wins - live news feed in-platform | ||
| Paper trading | Tie - both paper trading | ||
| Free version | Tie - both free version | ||
| Brokers supporting | 28 | 24 | MT4 wins (28 vs 24) |
| Vendor | MetaQuotes | MetaQuotes | Same vendor |
| Year released | 2005 | 2010 | MT4 predates MT5 by 5 years |
| Recommended for | Traders running legacy MT4 EAs, broker variety seekers | Multi-asset traders, MT5 EA developers, fundamental analysts | See pros and cons below |
MetaTrader 4 pros
- Largest broker list of any platform - nearly every broker supports it
- Vast existing EA library, much of it free
- Lightweight, runs on almost any hardware including a 10-year-old laptop
- Most copy-trading services and signal providers built around MT4
- MQL4 codebase has 20+ years of community examples
MetaTrader 4 cons
- Officially deprecated by MetaQuotes - no new features
- No depth-of-market, no multi-timeframe analysis tools
- Charting tools dated compared to TradingView or cTrader
- MQL4 cannot run server-side - requires VPS for 24/7 EAs
- No native multi-asset - forex/CFD only
MetaTrader 5 pros
- Multi-asset - stocks, futures, options on supported brokers
- Built-in economic calendar and news feed
- Multi-threaded backtest engine, much faster than MT4
- 21 timeframes including non-standard ones (M2, M3, M10)
- Active broker support and ongoing development by MetaQuotes
MetaTrader 5 cons
- MT4 EAs do not port - full rewrite required
- MQL5 learning curve heavier than MQL4
- Smaller EA marketplace than MT4 despite being newer
- No cloud/server-side bot execution
- Charting still feels dated vs cTrader and TradingView
MetaTrader 4 vs MetaTrader 5: full breakdown
MetaTrader 4 (MetaQuotes, released 2005) and MetaTrader 5 (MetaQuotes, released 2010) sit at very different ends of the retail trading platform market. The legacy industry standard, supported by nearly every retail broker. MT4's successor with multi-asset support and a stronger backtest engine.
Both platforms ship with a built-in backtest engine, paper trading via demo accounts, custom indicator support, multi-timeframe analysis, a free version with no subscription required, native desktop apps, and a web client for browser access. That common floor means the choice between MT4 and MT5 is rarely about table-stakes features and more about how each handles automation, broker availability, and the trader workflow you already use.
The real differences sit elsewhere. Algo languages diverge: MT4 uses MQL4 while MT5 uses MQL5; only MT5 exposes depth of market; MT5 supports stocks and futures natively, MT4 is forex/CFD only; broker availability differs sharply: 28 brokers support MT4 versus 24 for MT5. These are the dimensions that should drive your pick.
Pick MetaTrader 4 if you already own MT4 EAs and do not want to rewrite them in MQL5. Its strongest suits are largest broker list of any platform - nearly every broker supports it and vast existing ea library, much of it free. Best fit: traders running legacy mt4 eas, broker variety seekers.
Pick MetaTrader 5 if you trade across forex, stocks, and futures or are starting fresh on MQL. Its strongest suits are multi-asset - stocks, futures, options on supported brokers and built-in economic calendar and news feed. Best fit: multi-asset traders, mt5 ea developers, fundamental analysts.