MT4 vs MT5 is one of the top questions for every new trader, because both are the world's most popular trading platforms, built by the same company, MetaQuotes. Yet many people are still unsure where MetaTrader 4 and 5 differ — and which they should actually choose.
This article covers it all in one place: what MT4 is, what MT5 is, a clear comparison table across assets, timeframes, order types, the MQL4 vs MQL5 languages, backtesting, and EA support, plus advice on which trader should use which. And whichever you choose, both run 24/7 on a Forex VPS all the same.
What is MT4?
MT4, or MetaTrader 4, is a trading platform MetaQuotes launched in 2005, designed primarily for the Forex market. Its strengths are ease of use, being lightweight, running comfortably on low-spec machines, and a huge user community — which means an enormous selection of EAs (Expert Advisors) and indicators.
Even though it's the older platform, MT4 remains hugely popular into 2026, especially among EA traders, because the MQL4 ecosystem of EAs and custom indicators is the largest available and most Forex brokers still support it.
What is MT5?
MT5, or MetaTrader 5, is the newer platform MetaQuotes launched in 2010. It wasn't meant to be just an "upgraded MT4" but was redesigned to support a wider range of assets — Forex, stocks, futures, and commodities — all in one platform.
MT5 comes with more features: more timeframes, more order types, a built-in economic calendar, Depth of Market (DOM), and a faster backtester that supports multiple currencies at once. More recently MetaQuotes has pushed brokers toward MT5, so today many brokers offer MT5 by default.
MT4 vs MT5 comparison table (where they differ)
The key difference between MetaTrader 4 and 5 isn't just "4 versus 5" — it's a different design philosophy. See the comparison table below for a clear picture across the board.
| Topic | MT4 | MT5 |
|---|---|---|
| Launch year | 2005 | 2010 |
| Focus assets | Mainly Forex | Forex + stocks + futures + commodities |
| Timeframes | 9 timeframes | 21 timeframes |
| Pending order types | 4 types | 6 types (adds Buy/Sell Stop Limit) |
| EA/indicator language | MQL4 | MQL5 |
| Backtesting | One currency at a time, slower | Multiple currencies at once, faster (multi-threaded) |
| Built-in economic calendar | No | Yes |
| Depth of Market (DOM) | No | Yes |
| Account system | Hedging | Hedging and Netting |
| EAs/indicators in the market | The most (accumulated over years) | Growing steadily, but still fewer |
| Broker support | Still broad, but some brokers reducing it | Broadening, many brokers set it as default |
MQL4 vs MQL5: how they differ (important for EA users)
The core reason MT4 and MT5 can't share EAs is the different "language." MT4 uses MQL4 while MT5 uses MQL5. Despite the similar names, the language structures differ significantly — MQL5 is a fully object-oriented language that supports more complex programming and runs faster.
The practical result: if you have an EA file with a .ex4 or .mq4 extension (for MT4), you can't drop it into MT5. You need the .ex5/.mq5 version built specifically for MT5, or hire someone to write/convert it. This is a big reason many EA-focused traders stay with MT4.
MT4 or MT5: which should you choose?
There's no fixed answer to which is "better" — it depends on your trading style and the tools you use. See the guidance by trader type below.
- Trade only Forex + use existing MQL4 EAs/indicators → choose MT4, because the EA ecosystem is large and your existing EAs work immediately
- Want to trade multiple assets (stocks, gold, indices, futures) in one place → choose MT5, because it supports a wider range of assets
- Want finer timeframes, complete order types, and fast multi-currency backtesting → choose MT5
- A beginner whose broker only offers MT5 by default → just start with MT5; it's easy to use and the market's main direction
- Not sure yet → first check which one your broker supports and which language your EA/strategy is written in, then choose to match
Moving from MT4 to MT5: what to know
Many long-time MT4 users start considering a move to MT5 as the market shifts, but migrating isn't just installing a new program. There are things to understand first.
- MQL4 EAs and indicators don't work on MT5 — you need the MT5 version or to convert the code
- Some indicator templates/presets must be reconfigured on MT5
- The account system may be Netting (positions combined into one) instead of Hedging — check with your broker
- Broker trading accounts are separate for MT4 and MT5 — you'll need to open a separate MT5 account
- Always test your EA/strategy on an MT5 demo account before using real money
Both MT4 and MT5 run 24/7 on a Forex VPS
Whether you choose MT4 or MT5, the heart of EA trading is that the platform must stay open and connected to the internet at all times. Run it on a home PC and a single power cut, dropped connection, or Windows restart for an update stops the EA instantly, causing you to miss entries and exits.
A Forex VPS is a virtual server that runs 24/7 in a data center with backup power and internet. You can install both MT4 and MT5 on one machine, run multiple accounts across multiple brokers, and remote in from your phone or any computer. Close the RDP window and the machine keeps running your EA.
- Run both MetaTrader 4 and MetaTrader 5 on a single Windows Server
- Keep your EA running 24/7 without leaving a home PC on
- No fear of power cuts or dropped internet, thanks to backup power and internet in the data center
- Low latency for fast order fills, reducing the chance of slippage
- Run multiple MT4/MT5 accounts at once, per the specs you choose
Run MT4 or MT5 + your EA 24/7 on a Plusweb Forex VPS
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Frequently Asked Questions
What's the biggest difference between MT4 and MT5?
The supported assets and the EA language — MT4 focuses on Forex and uses MQL4, while MT5 supports multiple assets (stocks, futures, commodities) and uses MQL5, with more timeframes and order types and faster backtesting. Crucially, EAs from the two are not interchangeable.
Is MT5 better than MT4 — which should I use in 2026?
MT5 has more complete features and is the direction MetaQuotes is pushing, but that doesn't mean it's "better" for everyone. If you trade only Forex and use existing MQL4 EAs, MT4 is still suitable and works well in 2026. Choose based on the assets you trade, the EA you use, and the platform your broker supports.
Can I use an MT4 EA on MT5?
Not directly, because MT4 uses MQL4 and MT5 uses MQL5, which are different languages. An MT4 EA file (.ex4/.mq4) won't work on MT5 — you need a version built specifically for MT5, or to hire someone to write/convert the code.
When will MT4 be discontinued — can I still use it?
In 2026 MT4 still works normally and has many traders, especially EA users. Even though MetaQuotes pushes MT5 more and some brokers are reducing MT4's role, it's not being discontinued outright. Follow the announcements from your own broker as the main guide.
Can I run MT4 and MT5 at the same time on a Forex VPS?
Yes. A Forex VPS is a Windows Server where you can install both MT4 and MT5 on one machine, run multiple accounts across multiple brokers per your chosen specs, and let your EA run 24/7 without a home PC.
GUIDES
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