Quarter Comparison
MT4 vs MT5 (2026): Which Platform Is Better?
Compare MT4 and MT5 on markets, timeframes, order types, Expert Advisors and speed. See why MT5 suits most new accounts and when MT4 still wins.
Published · Facts verified
| MetaTrader 4 | MetaTrader 5 | |
|---|---|---|
| Best for | Traders with existing MQL4 tools and forex-only workflows | New accounts, multi-asset trading, faster workflows |
| First released | 2005 | 2010 |
| Market focus | Forex and CFDs | Multi-asset: forex, CFDs, and stocks/futures where brokers offer them |
| Chart timeframes | 9 | 21 |
| Built-in indicators / objects | 30 indicators, 31 objects | 38 indicators, 44 objects |
| Pending order types | 4 | 6 (adds Buy Stop Limit and Sell Stop Limit) |
| Automated trading | Expert Advisors in MQL4 | Expert Advisors in MQL5 (not MQL4-compatible) |
| Position accounting | Hedging only | Hedging or netting, per account |
| Extras | Lean, runs on modest hardware | Economic calendar, depth of market, multi-threaded strategy tester |
| Development status | Supported with maintenance and security releases | Actively developed — MetaQuotes' strategic focus |
Open a free XM demo and compare both platforms →
Markets and instruments
MT4 was built in 2005 for forex, and that is still what it does: currency pairs and whatever CFDs a broker maps into it. MT5 is multi-asset by design — alongside forex and CFDs it can carry exchange-traded stocks and futures where a broker offers them. In practice at CFD brokers the difference shows up as instrument coverage: at XM, for example, stock CFDs appear on MT5 only.
Timeframes and charting
MT5 more than doubles MT4's chart resolution: 21 timeframes against 9, including the 2-, 8- and 12-hour charts intraday traders ask for, plus 38 built-in indicators and 44 graphical objects against MT4's 30 and 31. Both platforms accept custom indicators, but the stock toolbox is simply bigger on MT5.
Order types and execution
MT4 offers four pending order types; MT5 adds Buy Stop Limit and Sell Stop Limit for six. MT5 also supports partial-fill policies and an exchange-style depth-of-market window. For most retail strategies the four MT4 types suffice — the MT5 additions matter to traders working breakouts with precise entry control.
Automated trading: the real dividing line
This is the criterion that actually decides the choice for most people. MT4 runs Expert Advisors written in MQL4; MT5 runs MQL5 — and they are not compatible. Twenty years of MQL4 EAs, indicators, templates and forum knowledge exist, much of it never ported. If your strategy depends on that ecosystem, MT4 is the platform. If you are building fresh, MQL5 is the more capable language and MT5's multi-threaded strategy tester optimises in a fraction of the time MT4 takes.
Speed and architecture
MT5 is 64-bit and multi-threaded; MT4 is older 32-bit architecture. Day to day both feel responsive for manual trading — the difference appears under load: large backtests, many charts, tick-data work. MT4's lightness is itself a virtue on modest hardware and aging VPS instances, which partly explains its persistence.
Hedging vs netting
MT4 accounts hedge: you can hold buy and sell positions on the same symbol simultaneously. MT5 supports both hedging and netting (positions on one symbol combine into a single net position), selected at the account level. Retail CFD brokers — XM included — typically provision MT5 accounts in hedging mode, so in practice this difference is smaller than older comparisons suggest.
Broker support and the direction of travel
Both platforms are near-universal at CFD brokers today. MT4 remains supported with maintenance and security releases, while MetaQuotes' strategic focus and most new platform development centre on MT5 — new broker integrations, new features and official attention all land there first. Nobody should panic-migrate a working MT4 setup — but nobody should start on MT4 without a specific reason either.
Using MT4 and MT5 in practice
Whichever you pick, the platform is free — costs live in the broker account behind it. XM offers both platforms across desktop, WebTrader and mobile from a $5 minimum deposit, with free demo accounts on each, which makes it a practical place to trial the two side by side before committing real money. Download either platform from your broker or MetaQuotes directly — modified MetaTrader builds from third-party sites are a common malware vector.
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MT4 vs MT5 — FAQ
Is MT5 better than MT4?
For most traders starting today, yes: MT5 is faster, covers more markets, has 21 timeframes against MT4's 9, more order types and an actively developed feature set. MT4 remains better only when your strategy depends on MQL4 Expert Advisors, custom indicators or templates that have no MT5 equivalent.
Can I use MT4 Expert Advisors on MT5?
No. MQL4 and MQL5 are different languages, so MT4 EAs and indicators do not run on MT5. Popular tools often have MT5 versions or paid ports, but a custom MT4 EA must be rewritten — this compatibility break is the single biggest reason traders stay on MT4.
Is MT4 being discontinued?
No. MT4 remains supported with maintenance and security releases, and brokers — XM included — continue to offer it. MetaQuotes' strategic focus and most new platform development centre on MT5, which matters if you are building a setup you want to last years.
Do MT4 and MT5 accounts share logins?
No. A trading account is created for one platform or the other, and the login only works there. If you open an MT4 account and later want MT5, you open an additional account on the new platform — at XM this is done from the same Member Area.
Which platform should I use with XM?
XM offers both MT4 and MT5 across desktop, WebTrader and mobile. For a new XM account, MT5 is the usual choice — stock CFDs are only available there where offered. Pick MT4 at XM only if you bring existing MQL4 tools with you.
Are MT4 and MT5 free?
Yes — both platforms are free to download and use; you trade through a broker account, which is where spreads, commissions and any fees arise. Beware of modified or 'cracked' MetaTrader downloads from unofficial sources: get the platform from your broker or MetaQuotes directly.
Final verdict
MT5 wins for new accounts: more markets, more timeframes, more order types, faster testing, and it is the platform MetaQuotes actually develops. If you are choosing from zero in 2026, choose MT5 and don't look back.
MT4 wins on inheritance: two decades of MQL4 Expert Advisors, indicators and community knowledge that never made the jump to MQL5. If your edge lives in MT4 tooling, the platform remains fully serviceable — just treat it as a maintained legacy, not a future.
There is no wrong answer between them at a broker that offers both. What matters more than the platform is the broker's spreads, execution and terms on the account behind it — which is why our XM review weighs those first.