MT4 vs MT5: what actually differs, and which one you should ask for
MetaQuotes stopped selling new MT4 licences, but MT4 is still running at dozens of brokers. Here is what separates the two platforms in practice.
MetaTrader 5 is not “MetaTrader 4, but newer”. It is a separate platform with its own programming language, and code written for one does not run on the other. That single fact drives most of the practical differences below.
The differences that matter
| MT4 | MT5 | |
|---|---|---|
| Timeframes | 9 | 21 |
| Built-in indicators | 30 | 38 |
| Depth of Market | no | yes |
| Position handling | hedging | netting or hedging, set by the broker |
| Language | MQL4, procedural | MQL5, object-oriented, C++-like |
| Strategy tester | single instrument | multi-instrument, multi-timeframe |
| Asset coverage | built around forex and CFDs | designed for exchange-traded assets too |
Timeframes. MT5 fills the gaps MT4 leaves: M2, M3, M6, M10, M12, M20, H2, H3, H6, H8, H12. If your method depends on a two-hour or twelve-hour chart, MT4 will make you improvise.
Depth of Market. MT4 shows only the best bid and ask. MT5 shows resting volume at each price level, which matters if you trade size or care where liquidity sits.
Hedging and netting. This is the one people get wrong. MT4 always hedges: buy and sell orders on the same instrument sit side by side as separate positions. MT5 can do either, and it is the broker who decides when they configure the server. If hedging matters to you, that is a question to ask the broker, not an assumption to make about the platform.
Backtesting. MT5’s strategy tester runs multiple instruments and timeframes at once and models execution more realistically. For anyone testing automated strategies, this is the largest single gap between the two.
The licensing situation
MetaQuotes has stopped selling new MT4 licences and is winding down legacy support. By 2026 MT5 has overtaken MT4 in both broker adoption and volume, and it is now the default choice for new accounts at most providers.
MT4 has not disappeared, though. Active MT4 servers are confirmed at more than thirty brokers, and firms with a large installed base keep them running because their clients’ expert advisors are written in MQL4 and would have to be rewritten from scratch to move.
Which one to ask for
Choose MT5 unless you have a specific reason not to. It is where development is going, the tester is genuinely better, and you get the extra timeframes and the order book.
Choose MT4 if you rely on a particular expert advisor or indicator that exists only in MQL4 and that you cannot or will not port. That is a real constraint for people who bought tools years ago — but understand that you are choosing a platform its maker has stopped selling.
A caution about “MT5 support” as a marketing line. Every broker that offers MetaTrader advertises it, and the label tells you nothing about execution quality, spreads or whether the server is configured for hedging. The platform is a terminal; what you actually pay and how your orders fill are decided by the broker behind it. That is what our methodology checks, and it is not visible from the platform name.
Sources
- CMC Markets — MT4 or MT5, the difference explained
- LiteFinance — MT4 vs MT5 comparison
- ForexBrokers.com — Best MetaTrader 5 brokers