MT4 vs MT5: Differences and Which to Use

At a glance

MT4 (Oct 2026)

9 timeframes, 4 pending orders

MT5 (Oct 2026)

21 timeframes, 6 pending orders

Custom EAs and indicators

Need MT5 (MQL5) versions

Accounts

Usually separate

What are the differences between MT4 and MT5?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two separate trading platforms from the software company MetaQuotes. MT5 is not an updated version of MT4 but a different program: accounts are separate, and Expert Advisors and indicators generally require compatible MT5 versions or rewriting. According to MetaQuotes’ platform pages (as of October 2026), the main differences are:

Feature	MT4	MT5
Timeframes	9	21
Built-in technical indicators	30	38
Analytical objects	23	44
Pending order types	4	6 (including Buy Stop Limit and Sell Stop Limit)
Order execution modes	3 (instant, request, market)	4 (including exchange execution)
Position accounting	Multiple independent positions per symbol	Hedging or netting, depending on the account
Programming language	MQL4	MQL5
Built-in economic calendar	No	Yes
Depth of Market	Not a core standard feature	Yes, for supported products
Product scope	Commonly used for forex and CFDs	Broader infrastructure that also supports exchange-traded products

These figures can change with platform updates, and the products actually available on either platform depend on the broker. How each platform works: how to use MT4, how to use MT5. For EAs and the languages they are written in, see Expert Advisor and MQL4 and MQL5.

How do pending order types differ between MT4 and MT5?

The four basic pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) exist on both platforms. MT5 adds Buy Stop Limit and Sell Stop Limit orders, which place a limit order once the price reaches a stop level. How stop-limit orders work in general: stop-limit orders.

MT4 vs MT5: hedging and netting differences

In MT4, several independent positions on the same symbol, including opposite ones, can be open at once (hedging). In MT5 this depends on the account: hedging accounts work like MT4, while netting accounts keep one combined position per symbol, so an opposite trade reduces or closes the existing one: hedging vs netting.

Is MT5 better than MT4?

Being newer and offering more features does not make MT5 automatically better for everyone. For core tasks such as opening trades, placing stops and reading charts, workflows are broadly similar. The difference shows when the extra features are needed.

MT4 or MT5 for beginners?

Both platforms can be used by beginners; opening trades, adding stops and reading charts work almost identically. For beginners, broker regulation and trading conditions are separate considerations from platform choice. On either platform, a demo account can be used to practise without risking real money.

When might MT4 be more suitable?

• When an EA or indicator you rely on exists only for MT4 (MQL4).
• When your workflow does not require MT5-specific features such as extra timeframes, stop-limit orders or netting.
• When your broker offers only MT4.

When might MT5 be more suitable?

• When you want more timeframes, more indicators or stop-limit orders.
• When you want the economic calendar and Depth of Market inside the platform.
• When you also want to trade exchange-traded products your broker offers on MT5.
• When you prefer netting accounts, where the broker offers them, or want to develop EAs in MQL5.

Do MT4 Expert Advisors work on MT5?

Not directly. MT4’s MQL4 and MT5’s MQL5 are different but related languages with different execution environments (MQL4 and MQL5); an Expert Advisor or indicator written for MT4 has to be rewritten in MQL5, or the developer’s MT5 version has to be used. On either platform, past test results do not guarantee future profitability.

What should you check when moving from MT4 to MT5?

1. Separate account: an MT4 account usually cannot be used to log in to MT5, so a separate MT5 account is needed.
2. Account type: check whether the MT5 account uses hedging or netting, which matters if you hold several positions on the same symbol.
3. EAs and indicators: check whether MT5 versions of the EAs and custom indicators you use exist.
4. Conditions: even at the same broker, MT4 and MT5 accounts can have different spreads, commissions and product lists, so compare the fee schedules.
5. Demo account: the new platform can be tried on a demo account before real money is used.

Are trading costs different on MT4 and MT5?

Even at the same broker, MT4 and MT5 accounts can have different spread, commission and swap conditions. Differences usually come from the broker’s account configuration and pricing rather than from the platform software itself. Costs are therefore compared between a broker’s accounts rather than between platforms: spread.