In short. MetaTrader 5 is the newer MetaQuotes platform: 21 timeframes instead of 9, six pending order types instead of four, netting and hedging, exchange markets and a multi-threaded strategy tester on real ticks. MetaTrader 4 is no longer sold to brokers, and MetaQuotes develops version 5. If your broker offers both, choose MT5. MT4 makes sense if your EA or indicator exists only for it: MQL4 programs do not run in MT5 without porting. Facts are from MetaQuotes' official pages as of 13 October 2026.
Comparison by the MetaQuotes table
| MetaTrader 5 | MetaTrader 4 | |
|---|---|---|
| Timeframes | 21 | 9 |
| Pending order types | 6 — Buy Stop Limit and Sell Stop Limit added | 4 |
| Position accounting | netting and hedging | hedging |
| Markets | forex, futures, options, stocks, bonds | forex |
| Economic calendar | built in | no |
| Technical indicators and graphical objects | 38 and 44 | 30 and 31 |
| Strategy tester | multi-threaded, multi-currency, on real ticks | single-threaded |
| Symbols in the terminal | unlimited | 1,024 |
| EA language | MQL5 | MQL4 |
Both platforms have iOS and Android apps and virtual hosting rented right from the terminal.
What matters in practice
- Netting or hedging. On an MT5 netting account there is one position per symbol: an opposite trade reduces or closes it. Grid and hedging EAs need a hedging account — both platforms offer one.
- The tester. Testing on real ticks and across several currencies at once in MT5 gets closer to reality — but it still does not guarantee the same trading on a live account.
- EAs. MQL4 and MQL5 are different languages: an MT4 program has to be ported, and the MQL5 reference has a «Moving from MQL4» section for that. An EA you bought for MT4 will not run in MT5 — you need its MT5 version.
- The future. MetaQuotes says MT4 is no longer for sale and its efforts are focused on developing MetaTrader 5. New brokers and features appear in MT5 first. How to get started in the terminal — in «How to use MetaTrader 5».
Which to choose
- Starting out or moving to a broker that offers both — MetaTrader 5.
- Trading exchange stocks and futures — MetaTrader 5: only it has exchange markets.
- The EA or indicator you need exists only for MT4 — MetaTrader 4, until an MT5 version appears.
Davinchu with MT4 and MT5
Davinchu connects both platforms with the read-only Davinchu Trade Monitor EA — at any forex and CFD broker on MetaTrader 4 and 5, prop firms included:
| MetaTrader 5 | MetaTrader 4 | |
|---|---|---|
| Journal and analytics | yes, terminal history | yes, history from the «Account History» tab — choose «All» for all of it |
| Telegram messages | the full set: trades, averaging, margin, stop-out, reports | trade openings and closes |
| «Account connection lost», «The EA is silent» | yes | yes |
| T-Manager risk manager | yes | in development |
How to install the EA — in «How to install an EA in MT5»; for MT4 the steps are the same, the folder is MQL4\Experts. Ways to watch an account are compared in «MT5 account monitoring». The Free plan connects two accounts at no cost; what the EA sends is on the «Account monitoring» page.