MT4 vs MT5 : Which One is the Best for Forex Trading

Are you confused between MT4 and MT5 which trading platform to select? Discover MT 4 vs MT 5: The Key differences and choose the best accordingly.

Metatrader 4 and Metatrader 5 are two names that every trader is familiar with. Opening an account with a trading platform is a must when trading in forex or any other CFD product.

These two trading platforms are the popular choice for traders all around the world. And why not? Both of these offer exclusive features that makes trading smooth.

Choosing one option from the two best options is quite a difficult task. But not to worry. In this article, we will discuss MT 4 vs MT 5, which is better for traders. So, let’s get started with a brief introduction of MT4 and MT5.

What is MT4 and MT5?

Meta Trader 4 is a trading platform launched in the year 2024. It allows traders to trade in the forex market and buy or sell currencies online.

The platform offers a range of trading tools and resources to help traders in dealing with the financial markets.

Meta Trader 5 is an updated version of Meta Trader 4, launched in 2025. It allows traders to trade in a wide range of asset classes, including forex, stocks, futures, and options. Being an advanced version of an MT 4, the platform offers comparatively more tools and resources to traders.

MT 4 vs MT 5: What’s the Difference

MetaTrader 5 (MT5) is available in the US, but its accessibility depends on the broker you choose. When comparing MT4 vs MT5, traders often debate which is better. MT4 vs MT5 which is better? It depends on your trading style; MT4 is preferred for forex trading, while MT5 offers advanced tools for multi-asset trading. If you’re wondering, “Is MetaTrader 5 available in the US?”, the answer is yes, but MT4 remains a popular choice among US traders.

Both MT4 and MT5 are trading platforms but are not the same. Their key features vary from each other, and that makes it difficult to select the ideal one. Thus, to help you out, we have examined the platforms using the criteria below:

Financial Instruments:

Meta Traders 4 majorly focuses on forex traders, so traders can access numerous currency pairs on the platform. Apart from that, traders can access future and options products.

Meta Trader 5 is popularly known as a multi-asset trading platform. So traders can access a wide range of Forex, stock, options, futures, and CFD products. Traders who diversify their capital into different markets can get more options on MT5.

Suitability:

Meta Trader 4 is a user-friendly platform suitable for market beginners. It is simple, easy, and efficient to use. Meanwhile, MT5, being the enhanced version equipped with advanced technology, is complex to use. So, the MT5 trading platform is more suitable for advanced and experienced traders with complex strategies such as automated trading or scalping.

Order Types:

Traders can use four types of forex orders on MT4. It includes buy stop, buy limit, sell stop, and sell limit. Meanwhile, MT5 offers two more additional order types, that is, buy stop limit and sell stop limit.

Expert Advisors and Backtesting Tools:

When it comes to Forex EA and backtesting tools, both MT4 and MT5 provide access to these tools. However, MT5 offers comparatively more options, making it suitable for advanced trading strategies.

Algo traders and scalpers can find numerous EA options on MT5 free of cost to practice their strategies. Also, MT5’s multi-threaded strategy and third-party integration make the platform compatible with multicurrency trading and backtesting. However, this feature is not available to Meta Trader 4 users.

Market Analysis Tools:

Traders can analyze the market analysis on both MT4 and MT5. However, the number of real-time charging tools and software available is different. MT4 offers 30 in-built technical analysis indicators, 31 graphical objects, over 2000 customer indicators, and 700 paid indicators.

Meanwhile, MT5 offers 38 built-in technical analysis indicators, 44 graphical objects, and an unlimited number of charts. Also, tools such as Fibonacci and Elliot are only available on MT5.

Time Frame:

The timeframe for analyzing charts is also different on MT4 and MT5. MT4 offers chart analysis with 9 timeframes; meanwhile, MT5 offers 21 time frames for analyzing charts.

Trading News and Economic Calendar:

Traders can get access to financial news on both platforms. However, MT4 does not offer an economic calendar feature. At MT5, with macroeconomic news, traders can even get access to the economic calendar.

Trading Community:

Meta Trader 4, being an old platform has a large community globally. Almost all forex brokers provide access to MT4. However, even after being the advanced version, the MT5 trading community is comparatively small. Also, the number of forex brokers offering MT5 is smaller.

Customization:

Traders can customize the forex EA, Backtesting software, and overall trading system on MT4 and MT5. Traders can use customer indicators options to make changes. A little understanding of programming language can help traders in customizing the indicators. Customization options and overall flexibility are also more with MT5.

Metatrader 4 vs Metatrader 5: Which is better

We have understood Metatrader 5 vs Metatrader 4 on different parameters. And almost every parameter, MT5 stands out. It offers more tools, indicators, flexibility, speed, and scalability. However, that does not mean that MT5 is better than MT4.

Many traders think MT5 is a better option due to its additional features. However, they need to understand that the more features there are, the more complexity there is. Before choosing a trading platform, first analyze whether you need additional features or not.

Both MetaTrader 4 and Meta Trader 5 offer premium features to traders. However, choosing between MT4 and MT5 totally depends on the needs of the trader.

Traders specifically dealing in the forex market can go for MT4. Especially if you are a beginner with basic strategies, MT4 can be the right choice for you. If you are an advanced trader with a diversified portfolio and advanced trading strategies, MT5 can be a good option.

For a better analysis, you can consider opening a demo account. Both Meta Trader 4 and Meta Trader 5 offer demo account facilities. So traders can use demo accounts first and analyze ideal platforms accordingly. Also, both platforms are completely free. So even cost is not an issue.

Bottom Line

Metatrader 4 vs 5: whichever platform you choose, make sure that you understand it well. Both of these platforms offer valuable trading tools, indicators, and resources. However, only traders who are familiar with these platforms can efficiently use them.

So, before diving into real trading, first practice trading using Meta Trader. Try different tools, strategies, and indicators to maximize the utilization of the platforms.

Trade on MetaTrader 5 with Beirman Capital

For trading in the forex market, opening an account on a trading platform is not enough. You also need to open an account with a reputed forex broker who provides access to Metatrader platforms. Here is how you can trade on Meta Trader 5 with Beirman Capital:

Visit the Contact Us page and register for Beirman Capital.
Fulfill KYC formalities and open an account with us.
Fund your account and start trading on Meta Trader 5.

FAQs

Why do I get MT5 instead of MT4?

MT5 is the advanced version of MT4. It offers more tools, indicators, resources, and exclusive features as compared to MT4.

Do professional traders use MetaTrader 4?

Yes, MetaTrader is a tool used by traders all around the world, including the market professional.

Which is better, MT4 or MT5?

Both MetaTrader 4 and Meta Trader 5 offer premium features, and which is better depends on the trader’s need. MT4 is beginner friendly while MT5 is better for advanced traders.

Will MT4 be phased out?

News or claims that MT4 can be phased out are common. However, till now there have been no such updates, and the platform is running smoothly.