Head to head · Updated August 2026
MetaTrader 4 vs MetaTrader 5
Not a straight upgrade — MT5 is a different engine, and the ecosystem never fully moved across. Across the 13 specs we track, MetaTrader 4 and MetaTrader 5 differ on 10. MetaTrader 4 leads on 1 of the measurable ones to MetaTrader 5's 0 — but read what those are below, because one of them may not matter to you at all.
MetaTrader 4
Forex traders & EA users
Free (provided by 300+ retail forex brokers) · Forex, CFDs, Metals, Indices
MetaTrader 5
Forex, stocks & futures traders of all levels
Free (broker account required) · Forex, Stocks, Futures, Options
Some links are affiliate links — we may earn a commission at no extra cost to you. Neither placement nor ranking is for sale. Not financial advice; trading involves risk of loss.
Which one fits you
Choose MetaTrader 4 if…
- you want to test it properly before committing
- you want the widest choice of broker to route through
Choose MetaTrader 5 if…
- you want one platform across several asset classes
Every spec, side by side
13 specs · 10 differ · clear advantages highlighted
| Spec | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Pricing | Free (provided by 300+ retail forex brokers) | Free (broker account required) |
| Free tier | ✓ | ✓ |
| Free trial | ✓ | ✕ |
| Best for | Forex traders & EA users | Forex, stocks & futures traders of all levels |
| Asset classes | ForexCFDsMetalsIndicesCommodities | ForexStocksFuturesOptionsBondsCFDsCommoditiesIndicesCryptocurrencies |
| Operating systems | WindowsmacOS (via wrapper or web)Linux (via Wine)iOSAndroidWeb Browser (MetaTrader 4 Web Terminal) | WindowsmacOSLinuxiOSAndroidWeb (Browser-Based) |
| Brokers | IC MarketsPepperstoneOANDAIGFXCMForex.comXMExnessAvaTradeThinkMarketsFP MarketsHFM (HotForex)TickmillFXTMFBSEightcapVantage MarketsHugo's WayAdmiral Markets300+ additional retail brokers worldwide | IC MarketsPepperstoneXMFP MarketsVantageExnessTickmillFXTMHFMBroker-Dependent (500+ supported brokers globally) |
| Licence | Multi-Device | Unlimited |
| Subscription | Free | Free |
| Open source | ✕ | ✕ |
| Support | Broker-Provided, MQL5.com Forum, Email (MetaQuotes) | MQL5 Community Forum, Documentation, Broker Support |
| Current version | — | Build 5660 |
| Released | Jul 2005 | 2010 |
Green marks the stronger value only where a spec has an unambiguous better direction — a higher split, a faster payout, a lower price. Breadth fields like markets and platforms are left unmarked on purpose: more coverage is different, not automatically better.
MetaTrader 4 vs MetaTrader 5 FAQ
Is MetaTrader 4 or MetaTrader 5 better for beginners?+
MetaTrader 4 is built for forex traders & ea users; MetaTrader 5 for forex, stocks & futures traders of all levels. Beginners usually do better on whichever one their broker already supports — fighting a data or routing setup is a worse first experience than any feature gap.
Which markets can I trade on MetaTrader 4 and MetaTrader 5?+
MetaTrader 4 covers Forex, CFDs, Metals, Indices, Commodities. MetaTrader 5 covers Forex, Stocks, Futures, Options, Bonds, CFDs, Commodities, Indices, Cryptocurrencies. Coverage on paper still depends on your broker supporting that market through the platform.
Can I run MetaTrader 4 and MetaTrader 5 side by side?+
Yes, and plenty of traders do — commonly one for charting and analysis, the other for execution. The practical limits are your machine's resources and paying twice for the same market data.