MetaTrader 4 vs MetaTrader 5: Key Differences and Which to Choose

MT4 vs MT5: comparison table

Figures for timeframes, indicators, order types and execution modes are from the MetaQuotes product pages (metatrader4.com and metatrader5.com, checked November 2026). What you get on a real account also depends on your broker.

What MT4 and MT5 are, and where they stand in 2026

Both are trading platforms made by MetaQuotes. You download the terminal, log in to an account at a broker, and trade manually or let an Expert Advisor (EA) trade for you. Both have desktop, mobile and web versions.

MT5 isn't simply "MT4 version 5". It's a separate platform, built from the start for several asset classes, with its own language and its own account type. An MT4 account works only in the MT4 terminal and an MT5 account only in MT5, even at the same broker. Moving from one to the other means opening a new account.

Is MT4 being discontinued?

There is no shutdown date. MetaQuotes says on its broker page that MetaTrader 4 licences are no longer available for purchase and that further conceptual updates will only be released for MetaTrader 5. In practice:

• MT4 keeps working and still gets maintenance builds. Brokers that already hold an MT4 licence can keep offering it.
• A broker that starts today can't add MT4, so new brokers launch with MT5 only.
• Some brokers steer new clients to MT5 or offer fewer account types on MT4. Check what your broker offers before you commit to a platform.

If you are still choosing a broker, our guide How to Choose a Forex Broker covers regulation, costs and account types.

Expert Advisors: MQL4 vs MQL5

This is the difference that matters most if you plan to use a trading robot.

• Not compatible. MT4 robots are written in MQL4 and compiled to .ex4 files. MT5 robots are written in MQL5 and compiled to .ex5. Neither terminal can run the other's files, and there's no official converter.
• Porting means rewriting. The two languages look similar, but the trading functions are different. MQL4 works with orders, MQL5 with orders, deals and positions. A developer needs the source code (.mq4) to port an EA, so a buyer with only the .ex4 file can't do it.
• Many commercial EAs come in both versions. The vendor compiles separate MT4 and MT5 builds of the same strategy. Check which files you get before you buy.
• The broker matters too. An EA built for hedging needs a hedging account. On MT5, that is an account setting chosen by the broker (see Hedging and netting).

MT4 and MT5 robots on ForexStore

Every robot page on ForexStore shows platform compatibility next to the rating: MT4/5 means the EA is compatible with MetaTrader 4 and MetaTrader 5, MT5 means MT5 only. Most robots sold under ForexStore Protection carry the MT4/5 label, so you can choose the platform after you choose the robot. Each page also links to a live account, so you can see how the EA has traded on real money, not only in a backtest.

Three of our brand partners, all labelled MT4/5 and NFA-compliant (FIFO, no hedging) on their pages:

• FXStabilizer PRO, with a real-money account monitored since 2016.
• FX Proctor Max, which reads the market from the daily (D1) chart.
• Forex inControl 3.0 Complete, which trades four currency pairs.

To compare more, see the best forex robots by ForexStore rating, the catalog filtered by ForexStore Protection, or the free forex robots. Once you have an EA, How to Install and Run an EA on MT4 walks through the setup, and Forex EA Settings That Matter explains the settings that decide your risk.

Backtesting: the strategy tester

Both platforms can test an EA on historical data before you run it live. The MT5 tester is the stronger one:

On MT4, many traders use third-party tick data, for example Tick Data Suite, to get more realistic results. Whichever platform you use, a backtest shows how rules behaved on past prices. It doesn't include every real-world cost, such as slippage, requotes or a broker's changing spreads. Read How to Backtest an Expert Advisor in MetaTrader 4 for the method, and How to Read Myfxbook Statistics to check a live account instead.

Hedging and netting

"Position accounting" decides what happens when you open a second trade on the same symbol.

• Hedging: every trade is a separate position. You can hold a buy and a sell on EUR/USD at the same time. MT4 accounts always work this way.
• Netting: one position per symbol. A new buy adds to an open buy, and a sell reduces, closes or reverses it. This is how exchange markets work.

MT5 supports both. The broker sets the system for each account, so an MT5 account can be either type. MT5 had only netting at launch; MetaQuotes added the hedging option in April 2016 (build 1325). An EA that opens opposite trades or several trades on one symbol, such as grid and many averaging systems, needs a hedging account. US brokers follow NFA rules (no hedging and first-in, first-out closing), so on ForexStore look for the NFA label on a robot's page. More on the costs and uses of hedging: Hedging in Forex.

Orders, markets and tools

• Pending orders. Both have Buy Limit, Sell Limit, Buy Stop and Sell Stop. MT5 adds Buy Stop Limit and Sell Stop Limit: once the price reaches the stop level, a limit order is placed instead of a market order.
• Execution. MT5 adds Exchange execution for exchange-traded instruments. For forex, what you feel in practice is your broker's execution and spreads, not the platform. See Slippage and Order Execution in Forex.
• Markets. MT4 covers forex and CFDs. MT5 can also carry exchange-traded stocks and futures, if your broker lists them.
• Analysis. MT5 has more timeframes (21 against 9, including M2, M3, H2, H6 and H12), more built-in indicators and objects, and an economic calendar inside the terminal. MT4 has a very large library of free third-party indicators built up over 20 years. Our MT4 guide covers the basics of the interface.

Which one should you choose?

Choose MT5 if

• you are opening a new account and your broker offers both;
• you want to trade stocks or futures as well as forex;
• you backtest a lot, or your EA trades several symbols at once;
• your EA or broker requires netting.

Choose MT4 if

• the EA or indicator you depend on exists only in MQL4;
• your broker offers the conditions you want only on MT4;
• you already know MT4 well and trade only forex and CFDs.

You don't have to pick one forever. Both terminals can be installed on the same computer or forex VPS, each with its own account. If you're buying a robot, choose the EA first and check which platforms it supports. For tips on judging a robot, see How to Choose the Best Forex Robot.

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