MetaTrader 4 vs MetaTrader 5: Complete Comparison

Key Takeaways

• If you are deciding between MT4 vs MT5, start by mapping your trading style. MetaTrader 4 is simple, battle tested, and ideal for discretionary forex and CFD traders who rely on clean charts and a huge library of indicators. MetaTrader 5 is the newer platform with more timeframes, more order types, Depth of Market, an integrated economic calendar, and a powerful multi-threaded strategy tester.
• Both platforms support automated trading and custom tools. MT4 uses MQL4, MT5 uses MQL5. Code and EAs are not cross compatible.
• MT5 supports hedging and netting account modes, plus more pending order types and exchange-style features that can help if you trade a broader set of instruments.
• Trading outcomes depend on your broker’s pricing and execution. Review Trading Conditions before you choose.
• The safest path is to test both on a Demo Account, keep risk rules fixed, and compare your results.
• You can run MT4 or MT5 on desktop, web, and mobile, and you can manage positions on the go with the MultiBank App.
• When your plan is consistent, open a Live Account and scale gradually. If you need different pricing profiles, compare Account Types.

What is MetaTrader 4

MetaTrader 4 (MT4) is a classic trading platform favored by forex and CFD traders for its simplicity, stability, and vast ecosystem of indicators, scripts, and expert advisors. It offers clean charting, one click trading, and a straightforward terminal that keeps you focused on price. If your workflow is discretionary trading on a few pairs or metals, MT4 has everything you need without unnecessary complexity. Install it via MT4 Platform and connect to your MultiBank Demo Account in minutes.
 

Who MT4 suits

• Beginners who want a friendly learning curve
• Day and swing traders who prioritize fast, clean chart reading
• Traders who rely on the massive library of MQL4 indicators and EAs

What is MetaTrader 5

MetaTrader 5 (MT5) is the next generation platform. It adds more timeframes, more built-in indicators, a sophisticated order system, Depth of Market, an integrated economic calendar, and a multi-threaded, multi-currency strategy tester. If you want advanced testing, broader market coverage, or exchange-style features, MT5 is designed for you. Get started from MT5 Platform and pair it with a MultiBank Demo Account.

 
Who MT5 suits

• Traders who need more timeframes and granular analysis
• Algo traders who want faster backtesting and more realistic tick modeling
• Traders who diversify into more instruments and prefer DOM and netting support

MT4 vs MT5 at a glance

• Markets: MT4 focuses on forex and CFDs. MT5 supports a broader range of instruments and exchange-style features.
• Timeframes: MT4 offers a concise set. MT5 expands to more granular and custom intervals.
• Indicators: MT4 includes a solid baseline. MT5 adds more built-ins and drawing objects.
• Orders: MT5 provides additional pending order types and more execution modes.
• Backtesting: MT4 tester is single threaded. MT5 tester is multi-threaded and multi-currency with more data options.
• Account modes: MT4 supports hedging. MT5 supports hedging and netting modes, depending on broker configuration.
• Ecosystem: Both have large marketplaces and code communities. Code is not cross compatible between MQL4 and MQL5.

Feature by feature comparison

Markets and instruments

• MT4: Excellent for forex and popular CFDs like gold and indices.
• MT5: Broadens access to more instrument types in addition to forex and CFDs, including exchange-style assets where supported.
  With MultiBank Group, you can trade a wide range of instruments from one account. Review available symbols inside the terminal and confirm costs under Trading Conditions.

Orders, execution, and risk tools

• Order types: Both support market and pending orders. MT5 includes additional pending variants and supports more execution policies.
• Hedging vs netting: MT4 uses hedging by default. MT5 can run in hedging or netting mode as configured by the broker.
• Stops and risk: Both support stop loss, take profit, and trailing stops. Your plan should also include a daily loss cap and fixed percent risk per trade to avoid oversizing.
• One click trading: Available on both for faster entries and exits.
  Use alerts and notifications through the MultiBank App to avoid chasing and to act at predefined levels.

Charts, timeframes, and indicators

• Timeframes: MT4 covers the essentials for intraday and swing trading. MT5 expands to more than a dozen timeframes that fill gaps between standard intervals.
• Indicators and drawing: MT4 ships with about thirty classic indicators. MT5 adds more built-ins and objects for analysis. Both allow custom indicators from their marketplaces.
• Templates and profiles: Both platforms let you save templates for strategies and profiles for multi-chart layouts.

Algorithmic trading and backtesting

• Language: MT4 uses MQL4; MT5 uses MQL5. These languages are similar yet not interchangeable.
• Strategy tester: MT4’s tester is straightforward for single symbol testing. MT5’s tester is faster, multi-threaded, supports multi-currency testing, and offers more granular tick models.
• Marketplace and signals: Both platforms connect to large libraries of EAs, indicators, and copy trading signals. Always test tools in a Demo Account before using them live.

Hedging vs netting

• Hedging mode: You can open multiple positions on the same symbol in different directions. This is common in forex and suits many discretionary styles.
• Netting mode: Positions in the same symbol are merged, similar to exchange markets. Some traders prefer the clarity of a single net exposure.
  Ask support which mode your account uses and pick the platform that matches your risk workflow.

Depth of Market and Level II

• MT5 adds a Depth of Market window that can help with order book context and partial fill visibility, especially useful if you trade during volatile periods or on symbols that support exchange-style execution.

News, economic calendar, and signals

• Economic calendar: MT5 integrates an in-platform calendar and news feed. MT4 relies more on external calendars.
• Regardless of platform, schedule your day with high impact events such as NFP, CPI, and central bank decisions, then use alerts in the MultiBank App to prepare and act.

Mobile, web, and the MultiBank App

• Both platforms offer desktop, web, and mobile versions. Pair your terminal with the MultiBank App for price alerts, push notifications, and account monitoring. This helps you stick to your plan without constantly staring at charts.

Costs and conditions to consider

Your real-world experience depends on pricing and execution. Before committing, check:

• Spreads and commissions for your instruments and account type
• Swaps for overnight holds, especially on swing trades
• Margin requirements and leverage limits, which depend on your entity and regulatory rules
• Order execution policies and any restrictions on strategies

You can compare profiles under Account Types and see details in Trading Conditions. Tight pricing and robust execution help both MT4 and MT5 users, especially if you run small targets such as scalping.

Performance and user experience

• Speed and stability: Both platforms are optimized for live trading. MT5’s engine and tester feel snappier for heavy backtests and multi-symbol workflows.
• Learning curve: MT4 is minimal and easy to learn. MT5 has more features, which helps advanced users and can feel busier at first.
• Customization: Both support multiple monitors, detachable charts, templates, and custom hotkeys.

Which should you choose

Use the platform that matches your style and tools, not the one with the most buzz.

Choose MT4 if you:

• Trade a small set of forex pairs or metals with discretionary setups
• Want a streamlined interface and the largest library of ready-made indicators and EAs in MQL4
• Prefer hedging and simple chart workflows

Choose MT5 if you:

• Want more timeframes, more built-in indicators, and an integrated economic calendar
• Need Depth of Market, additional pending order types, and exchange-style features
• Run algorithmic strategies that benefit from a faster, multi-threaded tester and multi-currency backtests
• Prefer netting or want the option to switch between modes according to broker configuration

Still unsure

Run a head-to-head test for two weeks. Trade the same plan on both platforms in a Demo Account, then compare execution discipline, error rate, and stats such as win rate, average reward to risk, and time in trade.

Step by step: test both safely

• Open a Demo: Create your MultiBank Demo Account.
• Install platforms: Download MT4 and MT5.
• Pick one strategy: For example, a trend pullback on H1 for EURUSD or XAUUSD. Write entry, stop, and target rules.
• Set alerts: Use the MultiBank App for price alerts around key levels and events.
• Risk rules: Risk a fixed percent per trade, for example 1 percent, with a daily loss cap.
• Journal: Take screenshots, tag mistakes, and track KPIs such as win rate and expectancy.
• Compare: After 50 demo trades on each platform, compare performance and ease of execution.
• Go live small: Choose the platform that fits you best, review Account Types and Trading Conditions, then open a Live Account with a small size. Scale only after your stats remain stable.

FAQs

Which is better for beginners, MetaTrader 4 or MetaTrader 5
MT4 is simpler to learn and very popular with discretionary forex traders. MT5 has more features and testing power. Start with the one that feels clearer in demo, then commit.

Can I run an MT4 expert advisor on MT5
No. MT4 uses MQL4 and MT5 uses MQL5. You need the EA written for your platform.

Does MT5 allow hedging
Yes, MT5 can run in hedging or netting mode depending on the broker configuration. Check your account mode before you start.

Is MT5 faster than MT4
For backtesting and multi-symbol workloads, MT5’s multi-threaded tester is usually faster. For live trading, both are responsive, and execution quality also depends on your broker.

Do both platforms support copy trading and custom indicators
Yes. Both connect to marketplaces for indicators, EAs, and signals. Always test in a demo first.

Can I switch later from MT4 to MT5
Yes. Many traders keep both installed. If you rely on MT4-only tools, plan a transition window to find or rebuild equivalents in MQL5.

What instruments can I trade on MT4 vs MT5
Both cover forex and CFDs. MT5 extends features for a broader set of instruments and exchange-style trading where supported.

How do I practice without risk
Open a Demo Account, run at least 50 trades with fixed risk rules, and only then consider a Live Account with modest size.

Glossary

EA (Expert Advisor): Automated trading program that can place and manage trades.
MQL4 / MQL5: Programming languages for MT4 and MT5 respectively.
Hedging: Multiple positions on the same symbol in different directions.
Netting: Positions merge into a single net exposure per symbol.
Depth of Market (DOM): Level II style view of available liquidity at different prices.
Backtesting: Testing a strategy on historical data before live use.
Expectancy: Average profit or loss per trade over time.
Swap: Overnight financing charge on open positions.