Mt4 vs Mt5
Look-alike pair
Full entries: .
MT4 and MT5 are separate trading terminals from MetaQuotes, not versions of one another. The single difference that matters is that MT4 is built around one asset class and one order model, while MT5 is a multi-asset platform with a different order model and its own language. Everything below follows from that.
Side by side
| Mt4 | Mt5 | |
|---|---|---|
| Full name | MetaTrader 4 | MetaTrader 5 |
| Primary scope | Foreign exchange and contracts for difference | Foreign exchange, contracts for difference, exchange-traded futures and listed instruments, depending on the broker |
| Order model | One netted position per symbol; hedging is a broker-side setting | Positions and pending orders are separate objects; netting or hedging is chosen per account |
| Programming language | MQL4 | MQL5 |
| Timeframes | Nine chart periods | Twenty-one chart periods |
| Field mark | The window title and About box read MetaTrader 4; the terminal icon is a blue-and-grey four-pane chart | The window title and About box read MetaTrader 5; the terminal icon is a blue-and-grey five-pane chart |
Which word to use
Use MT4 when the account, the expert advisor or the broker's offering is specifically built for MetaTrader 4, and use MT5 when it is built for MetaTrader 5 — the two are not interchangeable, and which one a given broker supports varies.
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