MetaTrader is the undisputed king of retail trading platforms, powering millions of traders worldwide. But with two versions available — MT4 (released in 2005) and MT5 (released in 2010) — choosing the right one can be confusing. This in-depth comparison will help you make the right choice for your trading needs in 2026.
Quick Comparison Table
| Feature | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Programming Language | MQL4 | MQL5 (OOP, faster) |
| Timeframes | 9 | 21 |
| Technical Indicators | 30 built-in | 38 built-in |
| Order Types | 4 | 6 + Market Depth |
| Economic Calendar | ❌ No | ✅ Built-in |
| Multi-Asset Support | Forex, CFDs only | Forex, Stocks, Futures, Options |
| Strategy Tester | Single-threaded | Multi-threaded (10x faster) |
| Hedging | ✅ Yes | ✅ Yes (since build 1325) |
| Netting Mode | ❌ No | ✅ Yes |
| DOM (Depth of Market) | Basic | Full Level 2 DOM |
| 64-bit Support | ❌ No | ✅ Yes |
Why MT5 Is the Future
MetaQuotes, the company behind both platforms, officially stopped selling new MT4 licenses to brokers in 2024. This means no new broker can offer MT4 — only those who already had licenses can continue using it. MT5 is now the sole platform being actively developed. Here's why this matters:
- MT5 receives regular updates with new features and security patches
- MT4 is in maintenance mode — no new features will be added
- MQL5 is significantly more powerful than MQL4, with full object-oriented programming support
- MT5's multi-threaded strategy tester can backtest strategies up to 10x faster
- MT5 supports trading real exchange-tradable instruments (stocks, futures) — not just CFDs
MT5 Advantages in Detail
1. Superior Backtesting Engine
MT5's strategy tester is a quantum leap over MT4's. It uses multi-threaded processing to run backtests across multiple CPU cores simultaneously. A backtest that takes 30 minutes on MT4 can complete in 3 minutes on MT5. Additionally, MT5 supports tick-by-tick data and real spread modeling for more accurate results.
2. More Timeframes and Analytical Tools
MT5 offers 21 timeframes compared to MT4's 9. This includes uncommon but useful intervals like 2-minute, 3-minute, 6-hour, and 12-hour charts. More timeframes mean more flexibility in analyzing price action across different scales.
3. MQL5: A Modern Programming Language
MQL5 is a fully object-oriented programming language, similar to C++. It's significantly more powerful and efficient than MQL4. This matters because:
- Complex trading algorithms run faster and use less memory
- Code is more maintainable and reusable through OOP principles
- MQL5 has a larger standard library with more built-in functions
- Native support for OpenCL allows GPU-accelerated computations
- Direct access to databases (SQLite) for data management
4. Built-in Economic Calendar
MT5 includes a built-in economic calendar that shows upcoming economic events, previous values, forecasts, and actual results. This is essential for fundamental analysis and helps traders avoid trading during high-impact news events that can cause extreme volatility.
When MT4 Might Still Be the Right Choice
Despite MT5's superiority, there are still valid reasons some traders prefer MT4:
- You have existing MT4 Expert Advisors (EAs) that you don't want to rewrite
- You're part of a community that shares MT4-specific tools and indicators
- Your preferred broker exclusively offers MT4 (though this is becoming rare)
- You're a complete beginner who finds MT4's simpler interface easier to learn
If you're starting fresh in 2026, choose MT5 without hesitation. It's more powerful, faster, and the only platform still receiving active development. Use our broker comparison tool to find the best MT5 brokers.
How to Choose the Right Platform
Your choice should depend on your specific needs:
| If You Want... | Choose |
|---|---|
| The latest features and ongoing support | MT5 |
| To trade stocks, futures, and options alongside forex | MT5 |
| The fastest backtesting engine | MT5 |
| To develop complex algorithmic trading systems | MT5 |
| To use existing MT4 EAs without modification | MT4 |
| A simpler learning curve for absolute beginners | MT4 |
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