MT4 vs MT5: what's the difference and which should you choose?
MetaTrader 4 and MetaTrader 5 are the two most used trading platforms in the world. Despite what the numbers suggest, MT5 isn't simply an upgraded MT4: they're two different tools. Here's what actually separates them, and which to choose for what you trade.
The short answer
MT4 for pure forex and existing MQL4 robots: it's the standard, simple and reliable. MT5 for multi-asset, more timeframes, more tools and faster backtesting. For a beginner starting in 2026, MT5 is often the best starting point, but both do the job well.
The comparison table
| Criterion | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Released | 2005 | 2010 |
| Markets | Forex and CFDs | Forex, stocks, futures (multi-asset) |
| Timeframes | 9 | 21 |
| Built-in indicators | 30 | 38 |
| Economic calendar | No | Yes, built in |
| Depth of market (DOM) | No | Yes |
| Robot (EA) language | MQL4 | MQL5 (not MQL4-compatible) |
| EA/indicator library | Huge (the largest) | Large and growing |
| Best for | Forex, MQL4 EAs | Multi-asset, modern tools |
MetaTrader 4: the forex standard
Released in 2005, MT4 became THE retail forex platform. Lightweight, stable, with an interface millions of traders know by heart and the largest library of robots and indicators on the market. If you mostly trade currencies and rely on MQL4 EAs, MT4 is still a perfectly valid choice in 2026.
MetaTrader 5: the modern multi-asset platform
MT5 (2010) was built to go beyond forex: stocks, futures, more timeframes, a built-in economic calendar, depth of market and much faster backtesting. Its MQL5 language is more powerful, but MQL4 robots won't run on it. For a multi-asset approach, or simply to start on the most complete tool, MT5 has the edge.
Where to use MT4 and MT5
Your platform choice also depends on your broker. Axi and BlackBull both offer MT4 and MT5 (BlackBull adds cTrader and TradingView). They're our two recommended brokers for trading on MetaTrader: open an Axi account (CySEC-regulated) or open a BlackBull account. By contrast, eToro only has its in-house platform and XTB dropped MetaTrader: neither offers MT4/MT5.
Once you've picked, follow our tutorials: how to use MetaTrader 4 and how to use MetaTrader 5.
FAQ
What's the difference between MT4 and MT5?
MT4 is forex/CFD-focused (9 timeframes, MQL4); MT5 is multi-asset (21 timeframes, MQL5, economic calendar, DOM). MQL4 robots don't run on MT5.
MT4 or MT5: which to choose?
MT4 for forex and MQL4 EAs; MT5 for multi-asset and modern tools. To start in 2026, MT5 is often the right default.
Which brokers offer MT4 and MT5?
Axi and BlackBull offer both. eToro and XTB don't offer MetaTrader.
Disclaimer. CFD trading on MetaTrader carries a high risk of rapid capital loss due to leverage. Most retail accounts lose money. This article is educational and not investment advice.