MetaTrader 4
MetaTrader 5
Short answer
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are separate trading platforms from the same developer. They look alike, but they are not versions of one program. Accounts, Expert Advisors and indicators built for one do not run on the other.
People often ask "MT4 or MT5, which is better?" There is no single answer. The right choice depends on what you trade, which tools you already use and whether you rely on automated strategies. The sections below cover each difference so you can match it to your own way of trading.
Comparison table
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | Fewer standard timeframes | More, including extra minute and hour intervals |
| Pending order types | Buy Limit, Sell Limit, Buy Stop, Sell Stop | The same, plus Buy Stop Limit and Sell Stop Limit |
| Depth of Market | Not built in | Built in |
| Position accounting | Hedging | Hedging or netting, set per account |
| Strategy tester | Single symbol, single thread | Multi-symbol, multi-threaded, real-tick mode |
| Programming language | MQL4 | MQL5 |
| Economic calendar | Not built in | Built in |
Timeframes
A timeframe is the period each candle or bar on a chart covers. MT4 offers a short list of standard timeframes, from one minute up to one month. MT5 keeps those and adds many in-between intervals, for example more minute-based and hour-based options.
Who it matters to: traders who build setups on non-standard intervals. On MT4 you would need a custom indicator or an offline chart to get them. If you only use the common timeframes, this difference changes little. See Chart setup.
Order types
A pending order is an instruction to open a trade later at a set price. Both platforms have Buy Limit, Sell Limit, Buy Stop and Sell Stop. MT5 adds Buy Stop Limit and Sell Stop Limit. These place a limit order once a stop price is reached, which lets you wait for a breakout and then try to enter on a pullback.
Stop loss, take profit and trailing stop work on both. For the details, read Pending orders, Stop loss and take profit and Trailing stop.
Who it matters to: breakout traders who want more control over the entry price.
Depth of Market
Depth of Market (DOM) shows the volumes available at prices above and below the current quote. MT5 has a DOM window, and you can also place orders from it. MT4 does not have one built in.
On forex and CFD accounts, the DOM shows whatever liquidity data the broker sends to the platform. It is not an exchange order book. See Depth of Market.
Who it matters to: scalpers and short-term traders who watch liquidity near the price. Swing traders rarely use it.
Hedging vs netting
MT4 uses hedging. Each trade is its own position, so you can hold a buy and a sell on the same symbol at the same time.
MT5 supports two modes, and each account is set to one of them:
- Hedging: works the same way as MT4.
- Netting: only one position per symbol. A new trade in the same direction adds to that position, and a trade in the opposite direction reduces or reverses it.
Who it matters to: grid traders, traders who lock positions, and anyone moving an EA that opens opposite trades. Such an EA will not behave as intended on a netting account. See Hedging vs netting.
Strategy tester
The strategy tester runs an Expert Advisor on historical data. MT4's tester works on one symbol at a time and uses one processor thread. It builds ticks from bar data, so results on short timeframes can be rough.
MT5's tester can:
- test several symbols in one run
- use all processor cores
- use real tick data where the broker provides it
- run optimisation across a network of agents
Who it matters to: traders who test or optimise automated strategies, especially multi-currency ones. Keep in mind that a good backtest does not predict future results. See Strategy tester.
MQL4 vs MQL5 and EA compatibility
Expert Advisors (EAs) are programs that trade automatically. Custom indicators and scripts are also written in code: MQL4 for MT4 and MQL5 for MT5. The two languages share a lot of syntax, but MQL5 handles orders, positions and deals in a different way. As a result:
- An MT4 EA or indicator (.ex4 or .mq4 file) does not run on MT5.
- An MT5 file (.ex5 or .mq5) does not run on MT4.
- Moving code from one platform to the other means rewriting it, not just recompiling it.
Who it matters to: anyone who already depends on a specific EA or indicator. Check which platform it was built for before you choose. See MQL4 and MQL5, Expert Advisors and Custom indicators.
Which differences matter for which style
- Manual swing or position trading: both platforms cover the basics. Choose the one whose layout you find easier to use.
- Scalping: the MT5 DOM and the extra timeframes may be useful.
- Breakout entries: the stop-limit orders in MT5.
- Automated trading with an existing tool: use the platform your EA was written for.
- Developing and testing EAs: the MT5 tester is more capable. MT4 still has a large library of older code.
- Locking or grid methods: use MT4, or MT5 on a hedging account.
The platform is only a tool. Leveraged forex and CFD trading can lose money fast on either one. Read Risk management before you trade with real funds.
If you open an account with a broker such as Exness, the platform is linked to the trading account. Check the current platform options in the personal area or on the official site.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
A note on regulation in Pakistan
Before you open any offshore account, know the local position. Here is the first point: per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan. Also, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. More detail is on Law and regulators.
Try both before deciding
A demo account lets you compare the two platforms without risking money. See MT4 demo account and MT5 demo account. You can also read the platform pages for MetaTrader 4 and MetaTrader 5, or the wider Platforms compared.
Frequent questions
What is the main difference between MT4 and MT5?
They are separate platforms with different programming languages. MT5 adds more timeframes, stop-limit orders, Depth of Market, netting mode and a more capable strategy tester.
Can I use my MT4 account on MT5?
No. Each account is created for one platform, and you log in with that platform.
Will my MT4 Expert Advisor work on MT5?
No. MQL4 code has to be rewritten in MQL5 before it runs on MT5.
Is MT5 only for stocks and futures?
No. MT5 is used for forex and CFDs as well. Which instruments you can trade depends on the account and the broker.
MT4 or MT5, which is better?
Neither is better for everyone. Match the platform to the tools you use and to your trading style, using the sections above.
Do MT4 and MT5 have mobile versions?
Yes, both have them. Install them only from the official app stores or the official site. See Mobile apps.
