Platforms
MT4 vs MT5: which platform fits your trading?
Both are MetaQuotes platforms offered by most forex brokers. MT4 is simpler and has the biggest library of add-ons; MT5 adds more timeframes, order types and markets. The right one depends on what you trade and which tools you already use.
Guide · 8 min read Updated 3 Nov 2026 Reviewed by the research desk
The short answer
Choose MT4 if you trade only forex and CFDs, rely on an existing Expert Advisor (EA) or indicator written for MT4, or want the most widely supported platform.
Choose MT5 if you want more chart timeframes, depth of market, a built-in economic calendar, or access to exchange-traded instruments such as stocks and futures where your broker offers them.
Feature
MetaTrader 4
MetaTrader 5
Pending order types
4
6 (adds buy and sell stop limit)
Programming language
MQL4
MQL5
Position accounting
Hedging
Hedging or netting (set per account)
Economic calendar
No (add-on)
Built in
Strategy tester
Single-thread
Multi-thread, multi-currency
Expert Advisors and indicators
EAs and custom indicators are written for one platform. An MT4 robot will not run on MT5 without being rewritten in MQL5. If you depend on a paid EA, check which versions the developer supports before you pick an account.
Hedging and netting
MT4 lets you hold opposite positions in the same pair at once (hedging). MT5 accounts are set up in one of two modes: hedging, like MT4, or netting, where a new trade in the opposite direction reduces your existing position. Ask your broker which mode its MT5 accounts use.
Questions to ask your broker
✓Which platforms are available on the account type you want, and are spreads and commissions the same on each?
✓Are MT5 accounts set up for hedging or netting?
✓Which instruments are only available on one platform?
✓Is there a web and mobile version, and do they support your order types?
✓Can you run EAs on a VPS, and is one provided free above a certain volume?
Common mistakes
✕Switching platforms mid-strategy. Backtest results from one platform do not carry over exactly to the other.
✕Assuming identical pricing. Some brokers charge different commissions on MT4, MT5 and cTrader.
✕Buying an EA for the wrong platform. Confirm the MQL version before you pay.
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Written by the Forex Awards research desk
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