MT4 vs MT5: which trading platform should you learn?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the two most common trading platforms offered by forex brokers. They look similar, but MT5 is newer, has more features and is where most development now happens.
By the TradeFather education team · Updated 27 Oct 2026 · Educational content, not financial advice
- MT5 has more timeframes (21 vs 9), more order types and a built-in economic calendar.
- MT4 is older but still widely used; skills transfer easily between them.
- Your broker decides which platform you can use.
- Download only from your broker or the official app stores — fake MetaTrader apps exist.
MT4 vs MT5 side by side
| Feature | MT4 | MT5 |
|---|---|---|
| Released | 2005 | 2010 |
| Timeframes | 9 | 21 |
| Pending order types | 4 | 6 (adds stop-limit) |
| Economic calendar | No (needs add-ons) | Built in |
| Markets | Mainly forex/CFDs | Forex, CFDs and exchange markets (broker dependent) |
| Strategy tester | Single-thread | Multi-thread, faster |
Which should a beginner choose?
Your broker offers it — you get more timeframes, the calendar and the current version.
Your broker only offers MT4 or a course you follow uses it. The basics are the same.
Neither platform makes trades better. Your plan, risk and discipline do.
Safety tips with MetaTrader
- 1Use official sources
Download from the official app stores or your broker's verified website.
- 2Check the server name
Log in only to your broker's real server listed in their client area.
- 3Be careful with 'robots'
Expert advisors sold online often promise profits and can lose money quickly or contain malware.
- 4Never share your password
Anyone with your login can trade your account.
Risk notice
Forex and CFD trading is high risk. Leverage magnifies losses as well as gains, and regulated brokers' own disclosures typically show that most retail CFD accounts lose money. Never trade money you cannot afford to lose. TradeFather is an independent education and tools provider — not a broker or financial adviser — and does not provide forex signals or execute trades.
If you live in India or Pakistan: RBI does not permit residents to fund overseas online forex/CFD platforms, and SBP has declared offshore forex, margin and CFD platforms illegal for residents. This guide explains how markets work; it is not a recommendation to open such an account.
Frequently asked questions
+Can I use MT4 indicators on MT5?
Not directly; MT4 uses MQL4 and MT5 uses MQL5. Many popular indicators exist in both versions.
+Is MT5 better than MT4?
It has more features and is the current version, but for basic chart reading both work.
+Are MetaTrader apps free?
Yes, the platform is free; your broker provides the account and prices.
Sources and further reading
Official and primary sources, links checked 27 Oct 2026. Rules, schedules and broker terms change — always confirm on the source.