MetaTrader 4 vs MetaTrader 5
Which is better for you?
Last verified: June 2026
Tier-1 regulated only. We only list brokers regulated by FCA, CySEC, BaFin, ASIC, or equivalent tier-1 regulators.
Quick Answer
MT4 is the established retail forex standard with the largest EA ecosystem; MT5 is newer, faster, supports more asset classes and has better backtesting — but MT4 remains more widely used for pure forex trading.
Based on our independent 2026 analysis of both options across cost, execution, regulation, and practical trader workflow.
MetaTrader 4
MetaTrader 4 was released in 2005 by MetaQuotes and became the de facto global standard for retail forex trading almost overnight. Its MQL4 scripting language enabled an entire ecosystem of Expert Advisors, custom indicators, and scripts, and brokers flocked to offer it because of the platform's reliability and massive user demand.
Two decades later, MT4 is still the most widely offered platform at retail forex brokers. Its strengths are a focused, forex-first interface, unmatched EA library (tens of thousands of free and commercial EAs), rock-solid charting with nine timeframes, and a lean architecture that runs well on modest hardware. MetaQuotes stopped issuing new MT4 licenses in 2018, but it continues to maintain the platform.
MetaTrader 5
MetaTrader 5 was released in 2010 as the planned successor to MT4. Written in a new MQL5 language (incompatible with MQL4), MT5 was built as a multi-asset platform supporting forex, equities, futures, bonds and options — reflecting MetaQuotes's ambition to position it against platforms like Bloomberg Terminal and CQG.
Key improvements over MT4 include 21 timeframes (vs 9), a built-in economic calendar, depth-of-market display, a vastly improved strategy tester with multi-currency and multi-threaded backtesting, support for more order types, and faster execution. The user base grew slowly at first as traders and EA developers resisted leaving MT4, but MT5 has now achieved critical mass and is offered alongside MT4 at virtually every major EU broker.
Side-by-side comparison
Key differences between MetaTrader 4 and MetaTrader 5 across the factors that matter most.
| Aspect | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Launch year | 2005 | 2010 |
| Timeframes available | 9 | 21 |
| Scripting language | MQL4 | MQL5 (not backward compatible) |
| Multi-asset support | Forex-first, CFDs via workarounds | Native FX, stocks, futures, options |
| Depth of Market (DOM) | Not supported | Supported |
| Built-in economic calendar | No | Yes |
| Strategy tester | Single-threaded, single-currency | Multi-threaded, multi-currency |
| Order types | Market, limit, stop, stop-limit | Adds fill-or-kill, buy/sell stop-limit |
| Hedging / netting | Hedging account model only | Supports both hedging and netting |
| EA ecosystem | Largest in retail — tens of thousands of EAs | Smaller but growing fast |
Pros of MetaTrader 4
- ✓Biggest Expert Advisor and indicator library in the retail space
- ✓Lightweight, runs on any laptop or VPS
- ✓Simpler interface that is easier to learn for beginners
- ✓Almost every forex broker in the world offers MT4
- ✓Decades of documentation, tutorials and forum support
- ✓MQL4 is simpler to learn than MQL5
Pros of MetaTrader 5
- ✓Multi-asset support — trade forex, indices, stocks and commodities on one platform
- ✓21 timeframes give far more analytical flexibility
- ✓Built-in economic calendar integrated with chart events
- ✓Strategy tester is dramatically better for serious backtesting
- ✓Depth of market display on supported instruments
- ✓Faster execution architecture
Final Verdict
Which wins? MetaTrader 5
If you are a pure forex trader using existing EAs and indicators, MT4 is still the right choice — the ecosystem is too valuable to give up. If you trade multiple asset classes, do serious backtesting, or care about modern features like depth of market and the built-in calendar, MT5 is significantly better. Most top EU brokers offer both, so you can try each and see which fits your workflow before committing your long-term setup.
Recommended brokers for MetaTrader 5
The top 5 EU-regulated brokers ranked specifically for this use case.
| # ▲▼ | Broker ▲▼ | Score ▲▼ | Min Deposit ▲▼ | EUR/USD ▲▼ | Max Leverage ▲▼ | Regulators ▲▼ | Platforms ▲▼ | Action |
|---|---|---|---|---|---|---|---|---|
| 1 |  Pepperstone | 9.4 | None | 0.0 pips (Razor), 0.69 pips (Standard) | 30:1 | BaFinGermanyCySECCyprusFCAUKASICAustralia | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Visit CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. |
| 2 |  IG | 9.2 | None | 0.6 pips average | 30:1 | BaFinGermanyFCAUKASICAustralia | IG Platform, MetaTrader 4, ProRealTime, L2 Dealer, TradingView | Visit CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. |
| 3 |  XTB | 8.8 | None | From 0.1 pips | 30:1 | KNFPolandFCAUKCySECCyprus | xStation 5, xStation Mobile | Visit CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. |
| 4 |  XM | 8.7 | $5 | 0.6 pips (Ultra Low), 1.6 pips (Standard) | 30:1 | CySECCyprusASICAustraliaIFSCBelize | MetaTrader 4, MetaTrader 5, XM App | Visit CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. |
| 5 |  eToro | 8.5 | $50 | 1.0 pips | 30:1 | CySECCyprusFCAUKASICAustralia | eToro Platform, eToro App | Visit CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. |
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CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.