MT4 is the most widely deployed retail trading platform. MT5 is its successor. Despite the name, MT5 is not simply MT4 + 1 — it is a different product with different strengths.
What MT5 has that MT4 doesn't
- 21 timeframes (vs 9). M2, M3, M4, M6, M10, M12, M20 etc.
- Built-in economic calendar.
- Depth-of-market display.
- More order types and better partial-close handling.
- Native multi-asset support (stocks, futures-style products).
- MQL5 — more powerful but not backward-compatible with MQL4.
Where MT4 still wins
- EA ecosystem. Most existing EAs are written in MQL4 and stay on MT4.
- Indicator availability. Years of free MQL4 indicators don't exist directly on MT5.
- Familiarity. Many traders simply prefer it.
Hedge vs netting
MT4 always hedges (multiple positions per symbol). MT5 supports both hedge and netting account types. Netting collapses positions into one net position per symbol — common for stocks, less common for retail FX.
Which to pick
- EA user with existing MQL4 code → MT4.
- New trader, manual or learning to code → MT5.
- Multi-asset trader → MT5.
Next steps on ShaFX
- Free trading calculators — position size, pip value, margin, risk/reward, drawdown.
- Take a quiz on this topic and see what you missed.
- Glossary — precise definitions for every term used here.
- Compare brokers using our methodology.
Educational only. This article is general information for trader education. It is not financial advice, tax advice, legal advice, or a recommendation to trade. Trading CFDs and forex is high-risk and most retail investor accounts lose money. Read the Risk Disclosure.