MT4 vs MT5: what is different and which one to use

MT4 and MT5 look alike and come from the same company, but they are separate platforms with separate accounts. For most traders the choice is made by the broker and the account type; the differences below matter once you know what you need.

MT4 · Guide 3/3 2 min read · Platform menus checked against official help: October 2026

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MT4 and MT5 at a glance (figures from MetaQuotes)FeatureMT4MT5Timeframes921Pending order types46Built-in indicators3038Drawing objects3144Built-in economic calendarNoYes
MT4 and MT5 at a glance (figures from MetaQuotes) — Drawn mock-up for illustration, not a screenshot. Names may differ slightly between versions and brokers.

What changes in practice

  1. Timeframes. MT4 has 9 timeframes (M1 to MN). MT5 has 21, including H2, H3, H6, H8 and H12, which some top-down routines use.
  2. Pending orders. MT4 has 4 pending order types. MT5 adds Buy Stop Limit and Sell Stop Limit, which place a limit order once a stop level is reached.
  3. Positions. MT4 is order-based: every trade is its own position. MT5 accounts are either hedging (works like MT4) or netting (one position per symbol), as set by the broker.
  4. Built-in tools. According to MetaQuotes, MT5 has 38 built-in indicators against 30, 44 drawing objects against 31, an economic calendar inside the platform, and a multi-currency strategy tester that can use real ticks.
  5. Windows and names. MT4's bottom panel is called Terminal; in MT5 it is called Toolbox. Most menus and shortcuts (F9 for a new order, Ctrl+T, Ctrl+M) are the same.

Which one to choose

  1. Start from your broker. Check which platform your regulated broker offers for the account you want, and on which server. If both are offered, MT5 is the newer platform and receives the new features.
  2. Check your tools. Expert Advisors and indicators are written in MQL4 for MT4 and MQL5 for MT5; one does not run on the other. If you rely on a specific tool, check that a version exists for your platform.
  3. Keep the habits that matter. Position sizing, the stop loss and the trading plan are the same on both. Changing platform will not change your results on its own.

Frequently asked questions

Is MT5 better than MT4?

MT5 has more timeframes, order types and built-in tools, and it is the platform MetaQuotes develops. Whether it is better for you depends on what your broker offers and the tools you use.

Can I use my MT4 indicators in MT5?

Not directly. MQL4 programs must be rewritten or replaced with an MQL5 version.

Can I hedge on MT5?

Yes, on a hedging account. Netting accounts hold only one position per symbol. Your broker decides which type you get.

Sources (official help pages)