The short version

MT4 is the long-standing standard for forex and CFDs with a huge ecosystem of indicators and expert advisors (EAs). MT5 is newer, supports more asset classes and extra order types.

If you only trade forex with established EAs, MT4 is often enough. If you want more markets, more order types, or integrated fundamentals, MT5 may fit better.

Practical differences

MT5 adds more pending order types, a built-in economic calendar, more timeframes, and better back-testing. MT4's strength is its maturity and community content.

Neither is universally better; it depends on your strategy and the broker's offering.

  • MT4: forex-focused, vast EA library
  • MT5: more markets, more order types
  • MT5: better back-testing tools

Portability

EAs and indicators are mostly written for one platform and do not cross over directly. Consider what tools you rely on before committing.

Many brokers offer both. Check which platforms a broker supports on its profile before opening an account.

Frequently asked questions

Is MT5 a direct upgrade from MT4?
Not exactly. It is a different platform with more features but less legacy EA compatibility, so 'upgrade' depends on your needs.
Which is better for beginners?
Either is fine to learn on. MT4 has more tutorials and community help; MT5 offers a modern interface and more built-in tools.