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Is MT5 better than MT4 better for trading? Compare features, tools, and performance to find out which one suits your trading style best.
Is MT5 Better Than MT4?
Yes, MT5 is better than MT4 in most ways. It offers more timeframes, more indicators, more order types, and supports a wider range of markets including stocks, crypto, and futures, not just forex. It runs on a faster 64-bit architecture, has a more powerful strategy tester, and comes with built-in tools like the economic calendar and Depth of Market that MT4 simply does not have.
That said, MT4 is still a solid choice if you trade forex only and prefer a simpler setup.
What is MT4?
MT4 is a forex trading platform launched in 2005. It is designed specifically for retail forex and CFD trading, offering a clean and straightforward interface, 9 chart timeframes, 30 built-in technical indicators, and support for automated trading through Expert Advisors (EAs) written in MQL4. MT4 runs on a 32-bit architecture and remains one of the most widely used trading platforms in the world due to its simplicity and reliability.
Advantages and Disadvantages of MT4 MT4 is a reliable and beginner-friendly forex trading platform that has stood the test of time. While it excels in simplicity and familiarity, it does come with limitations that modern traders are increasingly feeling.
Advantages:
Simple and easy to use, great for beginners
Widely available across hundreds of brokers
Large library of existing EAs and custom indicators
Proven and stable platform with nearly 20 years in the market
Ideal for forex-only traders who want a clean, no-fuss experience
Disadvantages:
Limited to forex and CFDs cannot trade stocks, futures, or crypto
Only 9 timeframes and 30 built-in indicators
Outdated 32-bit architecture, slower and less stable during high volatility
No Depth of Market (DOM) feature
What is MT5?
MT5 is a multi-asset trading platform, released in 2010 as the next-generation successor to MT4. It is built on a faster 64-bit architecture and supports a broader range of markets including forex, stocks, indices, commodities, cryptocurrencies, and futures, all from one account. MT5 offers 21 timeframes, 38 built-in indicators, 6 order types, a built-in economic calendar, Depth of Market (DOM), and uses the more advanced MQL5 programming language for faster and more powerful automated trading.
Advantages and Disadvantages of MT5
MT5 is a powerful multi-asset trading platform built for the modern trader. It brings more tools, more markets, and better performance, making it the go-to choice for traders who want to do more from a single platform.
Advantages:
Supports multiple asset classes such as forex, stocks, crypto, commodities, and futures
21 timeframes and 38 built-in indicators for deeper technical analysis
Faster 64-bit architecture for smoother, more stable performance
6 order types for more precise trade execution
Disadvantages:
Slightly steeper learning curve compared to MT4
Smaller existing EA library compared to MT4 (though growing fast)
MT4 EAs are not compatible, require conversion to MQL5
MT5 vs MT4: Feature Comparison
Feature
MT4
MT5
Launch Year
2005
2010
Timeframes
9
21
Built-in Indicators
30
38
Graphical Objects
31
44
Order Types
4
6
Asset Classes
Forex & CFDs
Forex, Stocks, Crypto, Futures
Programming Language
MQL4
MQL5
Architecture
32-bit
64-bit
Key Differences Between MT4 and MT5
Asset Classes and Market Access MT4 is primarily designed for forex and CFD trading. MT5, on the other hand, supports a far broader range of instruments including stocks, futures, and commodities. If you plan to trade beyond currency pairs, MT5 gives you access to more markets from a single platform, a clear advantage for traders who want diversification without switching between multiple platforms.
Order Types and Execution MT4 supports four pending order types: Buy Stop, Sell Stop, Buy Limit, and Sell Limit. MT5 expands this to six by adding Buy Stop Limit and Sell Stop Limit orders, giving traders more precision, especially during volatile market conditions. MT5 also includes the Depth of Market (DOM) feature, which shows available liquidity at different price levels, something entirely unavailable in MT4.
Automated Trading and Expert Advisors (EAs) Both platforms support automated trading through Expert Advisors. However, MQL5, the language used by MT5, is object-oriented and allows more complex, efficient automation compared to MQL4. MT5’s strategy tester also supports multi-threaded backtesting with real tick data, making it significantly faster and more accurate than MT4’s single-threaded tester. While MT4 still has a larger library of existing EAs, MT5’s library is growing rapidly as developers shift focus to the newer platform.
Is MT4 Still Available?
Yes, MT4 is still available. You can still download it, open an MT4 account with Ultima Markets and trade on it without any issues. While MT4 is still very much alive and usable today, it is slowly fading out as more brokers shift their focus entirely to MT5. If you are starting fresh, MT5 is the safer long-term choice.
Which is Better for Trading?
MT5 is better for trading. It supports more markets, more tools, and more order types than MT4. Whether you trade forex, stocks, crypto, or commodities. MT5 handles it all from one platform. The charts are more advanced, the strategy tester is faster, and the overall platform is built for modern trading in a way that MT4 simply is not.
The only reason to stick with MT4 is if you are a forex-only trader who already has a working setup of EAs and indicators built around it. In that case, there is no urgent reason to switch but if you are starting fresh, MT5 is the better platform to build on.
Conclusion
At Ultima Markets, we believe the best platform is the one that fits your trading style. That is why we offer both MT4 and MT5, so you are never limited by your tools.
If you prefer the simplicity and familiarity of MT4, we have got you covered. If you want the full power of MT5 with access to more markets, more tools, and faster execution, we have that too. The choice is yours. What matters most is that you trade with a broker you can trust.
Ready to get started? Open a live account with Ultima Markets today and trade on the platform that works best for you both MT4 or MT5, the decision is in your hands.
FAQs
Is MT4 faster than MT5?
No. MT5 is faster than MT4. MT5 runs on a 64-bit architecture while MT4 runs on 32-bit, making MT5 more efficient, more stable, and better equipped to handle fast-moving markets.
Which is best for beginners, MT4 or MT5?
MT4 is generally easier for beginners due to its simpler interface. However, MT5 is not far behind and is the better long-term choice, most beginners adapt to it quickly with a demo account.
Is MT4 shutting down?
Not officially, but MT4 is fading out.
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Disclaimer:This content is provided for informational purposes only and does not constitute, and should not be construed as, financial, investment, or other professional advice. No statement or opinion contained herein should be considered a recommendation by Ultima Markets or the author regarding any specific investment product, strategy, or transaction. Readers are advised not to rely solely on this material when making investment decisions and should seek independent advice where appropriate.
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