MT4 vs. MT5: Which Platform Should Newbies Choose?

1. Introduction to MetaTrader Platform

MetaTrader is a foreign exchange trading software developed by MetaQuotes.

• Released in 2005, MT4 is the most widely used forex trading terminal in the world.

• MT5 was released in 2010 as an upgraded version of MT4, supporting multiple asset classes.

Both are free-to-use software that is usually provided as a download by your broker.

2. The core differences between MT4 and MT5

3. Advantages of MT4 and Who Should Use It

• Advantages

• The software is lightweight, takes up little memory, and runs stably;

• The ecosystem of EA automated trading programs (expert trading systems) is huge;

• Supported by the vast majority of forex brokers worldwide.

• Suitable for people

• New investors;

• Users who mainly trade foreign exchange;

• Traders who prefer to use mature EA strategies.

4. Advantages of MT5 and Who Should Use It

• Advantages

• Support multi-asset trading: including foreign exchange, stocks, and futures;

• More chart periods and technical indicators;

• More powerful backtesting and strategy optimization tools;

• Supports economic calendar integration.

• Suitable for people

• Users who want to trade a variety of financial products (such as stocks and futures);

• Senior traders and strategy developers;

• Investors who have high requirements for backtesting and quantitative research.

5. Should beginners choose MT4 or MT5?

• If you are a forex novice , it is recommended to start learning with MT4 because of its easy operation and rich information.

• If you plan to expand into multi-asset investments in the future, or are interested in developing more complex trading strategies, then MT5 would be a better choice.

VI. Summary

• MT4 : Suitable for novices and most retail traders who mainly focus on foreign exchange and pursue simplicity and stability.

• MT5 : Suitable for professional traders who invest in multiple assets and seek more powerful functions.

👉 For most beginners, it is recommended to start with MT4 and consider upgrading to MT5 after becoming familiar with the trading logic.

VII. FAQ

Q1: Will MT4 be eliminated?
A1: Although MT5 has been launched for more than ten years, MT4 is still the mainstream software in the foreign exchange market and will not be replaced in the short term.

Q2: Is MT5 more secure than MT4?
A2: There is no essential difference in security between the two. The key lies in choosing a regulated broker.

Q3: Are EA strategies applicable to both MT4 and MT5?
A3: They are not universal. MT4's MQL4 and MT5's MQL5 are different languages and need to be developed separately.