What is the difference between MetaTrader 5 and MetaTrader 4?

Created by Nastassia Tarasova, Modified on Fri, 17 Jan at 5:52 PM by Nastassia Tarasova

Our Company provides the opportunity to trade on two world-famous trading platforms – MetaTrader 4 and MetaTrader 5. Both platforms are developed by MetaQuotes Company and distinguished primarily in trading conditions and certain functionality.

While MT4 may be more suitable for beginner traders and those focused primarily on forex trading, MT5 offers additional features and functionalities that cater to more advanced traders and investors seeking a broader range of assets and trading opportunities. Ultimately, the choice between MT4 and MT5 depends on individual preferences, trading strategies, and the specific requirements of each trader.

Let's consider the features of the MetaTrader 4 and MetaTrader 5 terminals.

MetaTrader 4

The MetaTrader 4 terminal is optimized for trading on Forex Club servers and has a large community of users that can help to find responses to almost all the questions, including indicators, advisors and other useful materials. The MetaTrader 4 terminal is presented in a desktop version which can be installed on a computer (Windows), as a mobile application for Android and IOS. In addition, a web version of the MetaTrader 4 terminal is available.

The main advantages of MetaTrader 4:

automatic trading (ability to connect a robot, advisor);
ability to use technical analysis, indicators, trend lines, oscillators;
ability to add custom indicators, advisors, templates;
built-in library which allows to download indicators, advisors, utilities;
ability to add the trade signals / use copy trading or become a signal provider;
built-in DDE server allowing you to export quotes from the terminal to Excel online;

MetaTrader 5

A rather vast community has been formed around MetaTrader 5, which can render support in finding a lot of useful information and downloading the necessary indicators, advisors and utilities.

MetaTrader 5 platform is available in a desktop-version which can be installed on the computer (Windows), in Mobile application for Android and IOS. Additionally, Web-version of the platform is also accessible.

MetaTrader 5 platform has the same functionality as MetaTrader 4 (as stated above), but there are some additional features.

The table below shows in more details the main differences in the functions of the MetaTrader 4 and MetaTrader 5 terminals:

Feature	Metatrader 4	Metatrader 5
Timeframes	9 (Minutes:1,5,15,30; Hours: 1,4; Day, Week, Month)	21 (Minutes:1,2,3,4,5,6,10,12,15,20,30; Hours: 1,2,3,4,6,8,12; Days: 1, Week, Month)
Technical Indicators	30	38
Pending orders	4 (Buy/sell stop orders, buy/sell limit orders)	6 (Buy/sell stop orders, buy/sell limit orders, buy/sell stop limit orders)
Programming Language	MQL4 (simpler and more widely adopted programming language, usage of pre-built tools and resources).	MQL5 (more robust and versatile programming language, offering additional features, such as support for object-oriented programming and access to more built-in functions and libraries).
Third-party Add-ons and Integrations	Has a thriving ecosystem of third-party add-ons, plugins, and integrations developed by independent providers.	Supports third-party add-ons and integrations, so the selection can be more limited than that of MT4.
Market Depth and Depth of Market	MT4 does not offer built-in market depth or depth of market features, which provide insights into a particular instrument’s supply and demand dynamics.	Includes a market depth feature, also known as depth of market (DOM), which displays the current bid and ask prices and the volume available at each price level.