Every broker download page offers the same choice, and beginners burn hours on it. Here's the honest answer, then the details to back it up.
The 30-second verdict
Choose MT5 by default. It's MetaQuotes' active platform: more timeframes, more order types, a far better backtester, and it's where new broker features land. Choose MT4 only if your broker's good stuff is MT4-only, you're following an MT4-specific course or strategy, or you rely on old .mq4 tools with no MT5 port. Neither will “make you money” — the chart shows the same candles either way.
What's actually different
| Feature | MT4 | MT5 |
|---|---|---|
| Markets | FX + CFDs mainly | FX, stocks, futures, options, crypto CFDs |
| Timeframes | 9 | 21 |
| Pending order types | 4 | 6 (adds buy/sell stop-limit) |
| Backtesting | Single-threaded, FX-focused | Multi-threaded, multi-currency, real-tick mode |
| Market depth (DOM) | Basic | Full level-II style |
| Economic calendar | — | Built into the terminal |
| Language | MQL4 (.mq4) | MQL5 (.mq5) — faster, closer to C++ |
| Tool library | Enormous legacy catalog | Large and growing — our library covers both |
Which one is for you
- Total beginner, flexible broker: MT5. Learn one platform properly; our EA install guide uses it.
- Following an MT4-based course or mentor: MT4 — matching your teacher's screenshots beats feature lists while you're learning.
- EA tinkerer / systems tester: MT5. The Strategy Tester gap isn't close: multi-currency runs, real ticks, optimization on every core.
- Scalper needing depth-of-market: MT5's DOM and stop-limit orders matter.
Switching costs (MT4 → MT5)
Charts, templates and profiles don't transfer — budget an evening to rebuild your layout. EAs and indicators need porting (.mq4 → .mq5) or an MT5 replacement; check the MQL5 Code Base first — most classics have ports. Demo both for a week before moving real funds; many brokers let you run both platforms side by side on one account.
Frequently asked questions — MT4 vs MT5 in 2026
Should I learn MT4 or MT5 in 2026?
Default to MT5 unless your broker only offers MT4 or you are following an MT4-specific strategy. MT5 is MetaQuotes' active platform: faster, more instruments, better tester. MT4 remains fully supported and widely installed.
Can I move my EAs from MT4 to MT5?
Not directly — MQL4 code must be ported to MQL5 (mostly a syntax update, but indicators and objects changed most). Plan a re-test cycle; behavior can differ subtly.
Do MT4 and MT5 accounts work together?
No — they are separate platforms with separate logins, even at the same broker. Pick one as your primary and treat the other as legacy.
Keep learning — MT4 vs MT5 in 2026
Sources & further reading — MT4 vs MT5 in 2026
Independent references consulted while writing this guide. PipAtlas is educational and not investment advice - verify anything trade-critical with your broker and the source documents.
- MetaTrader 5 - official site - platform features and supported brokers, from the vendor.
- NFA - investor publications - choosing and checking a forex broker.