MT4 vs MT5
A practical comparison of MetaTrader 4 and MetaTrader 5 for retail forex traders in 2026. Instruments, order types, EA ecosystem, strategy tester, mobile, and which one wins for your specific trading style.
MT4 still wins for pure forex traders relying on EAs, copy trading, or the largest third-party ecosystem. MT5 wins for multi-asset traders (forex + indices + metals + futures), faster strategy testing, and a more modern technical architecture. ComoFX supports both — you can open accounts on either from the same client portal.
Feature-by-feature comparison
The table below covers the specs that actually matter in daily trading. Pure architecture stats are at the top; trader-facing features in the middle; ecosystem at the bottom.
| Feature | MT4 | MT5 |
|---|---|---|
| Release year | 2005 | 2010 |
| Underlying architecture | 32-bit, single-threaded | 64-bit, multi-threaded |
| Programming language | MQL4 | MQL5 (C++-like) |
| Asset classes | Forex + CFDs (limited) | Forex, CFDs, stocks, futures |
| Order types | 4 (Market, Limit, Stop, Stop-limit) | 6 (+ Buy Stop Limit, Sell Stop Limit) |
| Timeframes | 9 | 21 |
| Strategy tester | Single-pair, single-thread | Multi-currency, multi-thread |
| Hedging vs netting | Hedging only | Hedging or netting (broker config) |
| Economic calendar | Not built-in | Native + news feed |
| Depth of market (DOM) | No | Yes |
| EA ecosystem | Largest (legacy) | Growing (modern) |
| Mobile app | iOS, Android | iOS, Android |
| Web platform | Yes | Yes |
Where MT4 still wins
MT4 launched in 2005 and has had two decades to accumulate a third-party ecosystem nothing else matches. Every signal provider targets MT4 first. Every EA marketplace lists MT4 versions of strategies. Every YouTube tutorial about MetaTrader uses MT4 screenshots. Every legacy broker still runs MT4 as primary.
If your trading life involves any of the following, MT4 is the stronger choice:
- EA-driven trading: The MQL4 marketplace has more strategies, more reviews, and more years of forward-test data.
- Copy trading: Most signal providers publish MT4 versions of their strategies before MT5.
- Forex-only trading: If you trade currency pairs and only currency pairs, MT4's simpler interface is an advantage, not a limitation.
- Legacy education: Every classic forex tutorial uses MT4 screenshots. Beginners can follow along step-by-step.
Where MT5 pulls ahead
MT5 was designed in the era after MT4. It is 64-bit, multi-threaded, handles multiple asset classes natively, and has a strategy tester built for serious quants — multi-currency, multi-thread, and tick-accurate.
Choose MT5 if:
- You trade multiple asset classes. Forex + indices + metals + futures + crypto CFDs from one platform with proper DOM.
- You backtest seriously. The MT5 strategy tester is multi-currency, multi-thread, and 5–10x faster than MT4's.
- You want the native economic calendar. Built into the platform — no third-party plugin needed.
- You scalp. Tick-by-tick history and Depth of Market matter for fast intraday execution decisions.
- You want the more modern UX. MT5's interface looks more contemporary; MT4 is showing its age.
Which to pick — by trader type
EA developer or buyer
Pick MT4Largest third-party library, mature MQL4 ecosystem, most legacy systems target MT4 first.
Multi-asset trader
Pick MT5Forex + indices + metals + futures in one platform with proper DOM and economic calendar.
Beginner forex trader
Pick MT4Gentler learning curve, more free YouTube tutorials, simpler interface.
Strategy backtester
Pick MT5Multi-currency and multi-thread strategy tester is dramatically faster.
Copy trading user
Pick MT4Most signal providers and copy services still target MT4 as primary.
Active scalper
Pick MT5Tick-by-tick history and Depth of Market matter for fast intraday decisions.
What about TradeLocker?
TradeLocker is the modern web-first alternative — no install, cleaner UI, native economic calendar, tight prop-firm integration. It is the third option ComoFX supports. We covered it in our trading platform help center section.
For most traders the practical decision is MT4 or MT5 first, with TradeLocker as the web-based option to fall back on when away from a desktop. The good news: you do not have to pick once. ComoFX lets you run accounts on all three from the same client portal.
Common questions
Is MT5 better than MT4?
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MT5 is technically more capable: more instruments, more order types, multi-currency strategy tester. But "better" depends on what you trade and how. For pure forex with EAs and copy trading, MT4 still has the deeper third-party ecosystem.
Can I use my MT4 EA on MT5?
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No. MT4 EAs are written in MQL4 and MT5 EAs in MQL5. EAs do not transfer directly. Many vendors maintain both versions in parallel — check the vendor page.
Which platform is faster?
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MT5 in pure benchmarks (multi-thread, 64-bit). Real-world execution depends more on broker infrastructure and your network latency.
Does ComoFX support both MT4 and MT5?
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Yes. Open both from the same client portal with the same identity verification.
Which platform should a beginner use?
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For pure forex MT4 has a gentler learning curve. For multi-asset trading from the start, MT5 makes more sense.
Can I switch between platforms later?
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Yes. Open additional trading accounts on the other platform any time. Position history and EA configurations do not transfer.
Try both on a free demo
The best comparison is the one you do yourself. Open a demo on each platform and run the same strategy for a week.
Open free demo account