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MetaTrader5 VS MetaTrader 4

Compare MetaTrader5 VS MetaTrader 4 and see what are their differences

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MetaTrader5 logo MetaTrader5

World-leading multi-asset platform that allows trading Forex, Stocks, Futures and CFDs.

MetaTrader 4 logo MetaTrader 4

MetaTrader 4 the world’s one of the leading user-friendly stock trading platforms that is facilitating traders to redefine their ways to get the most profitable return.
  • MetaTrader5 Landing page
    Landing page //
    2023-10-07
  • MetaTrader 4 Landing page
    Landing page //
    2022-12-03

MetaTrader5 features and specs

  • Multi-Asset Platform
    MetaTrader 5 allows you to trade a variety of asset classes including Forex, stocks, commodities, indices, and cryptocurrencies.
  • Advanced Charting Tools
    The platform offers advanced charting tools with a wide range of technical indicators and graphical objects for detailed market analysis.
  • Automated Trading
    MetaTrader 5 supports algorithmic trading via Expert Advisors (EAs), which can automate trading tasks based on predefined strategies.
  • Market Depth
    The Market Depth feature provides an insightful view of available bids and offers, enhancing your market analysis.
  • Economic Calendar
    An integrated economic calendar allows traders to monitor market-moving events and news directly within the platform.

Possible disadvantages of MetaTrader5

  • Complexity
    The platform can be overwhelming for beginners due to its extensive features and advanced tools.
  • Limited Broker Support
    Not all brokers support MetaTrader 5, limiting its accessibility depending on your broker of choice.
  • Learning Curve
    There is a steep learning curve to fully leverage all the advanced features and customization options MetaTrader 5 offers.
  • Resource Intensive
    The platform can be resource-intensive, requiring a robust computer system for optimal performance, especially when multiple charts and indicators are used.
  • Transition from MT4
    Users transitioning from MetaTrader 4 to MetaTrader 5 may face compatibility issues, as not all scripts, indicators, and EAs are transferable.

MetaTrader 4 features and specs

  • User-Friendly Interface
    MetaTrader 4 offers an intuitive and user-friendly interface, making it accessible for both beginners and experienced traders.
  • Customizability
    MT4 allows for extensive customization through scripts, custom indicators, and expert advisors, enabling traders to tailor the platform to their specific needs.
  • Automated Trading
    The platform supports automated trading with its Expert Advisors feature, which allows for algorithmic trading strategies to be implemented.
  • Advanced Charting Tools
    MT4 provides a wide range of technical analysis tools and indicators that help traders analyze market trends and make informed decisions.
  • Wide Range of Brokers
    Due to its popularity, numerous brokers offer trading accounts with MetaTrader 4, providing traders with diverse options.
  • Stability and Performance
    The platform is known for its reliability and efficient performance, even under high trading volumes, which is crucial for active traders.

Possible disadvantages of MetaTrader 4

  • Outdated Interface Design
    While functional, the visual design of MetaTrader 4 feels outdated compared to more modern trading platforms.
  • Limited Asset Classes
    MT4 was primarily designed for Forex trading, and while it supports other asset classes, it does not offer the same depth of integration as some newer platforms.
  • Lacks Native Cross-Platform Compatibility
    While MT4 has mobile and web versions, full functionality and most features are best experienced only on the desktop version.
  • Limited Fundamental Analysis Tools
    The platform focuses heavily on technical analysis and lacks extensive tools for conducting fundamental analysis.
  • No Proprietary Back-Testing System
    MT4 does have a strategy tester, but it's not as robust or user-friendly as those offered in some competing platforms.

MetaTrader5 videos

+ Add

Which Forex Trading Platform is BEST? (MetaTrader 4 vs cTrader)

More videos:

  • Review - Why I Switched From MetaTrader to TradingView - TradingView Review
  • Review - MetaTrader 5 - Forex Trading Platform Review and Introduction

MetaTrader 4 videos

+ Add

MetaTrader 4 vs 5: Which One? [2020 Review]

More videos:

  • Review - Part 1: What is Metatrader 4?
  • Tutorial - How To Use MetaTrader 4 (Tutorial For Beginners - How To Use A Charting Platform) [Trading Basics]

Category Popularity

0-100% (relative to MetaTrader5 and MetaTrader 4)

MetaTrader5

MetaTrader 4

Finance
89 89%
Finance
11% 11
Investing
90 90%
Investing
10% 10
Trading
89 89%
Trading
11% 11
Cryptocurrencies
100 100%
Cryptocurrencies
0% 0

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare MetaTrader5 and MetaTrader 4

MetaTrader5 Reviews

TradingView Alternatives For Budget Conscious Traders
MetaTrader platforms are known for their many features including robust alert systems and the ability to “hijack” the visual backtester to perform full replays during backtesting. These platforms support algorithmic trading through Expert Advisors (EAs) and have a large library of custom indicators and trading tools. While MT4 and MT5 are very versatile they require a...
Source: medium.com
Top 8 Forex Tester Alternatives in 2024
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely-used trading platforms that include basic backtesting functionalities. These platforms are popular due to their availability and versatility, but they come with some limitations.
Source: forextester.com
5 MetaTrader alternatives for Apple devices (Jan 2023)
iOS devices with MetaTrader apps already installed can continue to use them, but they will not receive software updates, creating potential security risks. The problem does not affect Android mobile devices because MetaTrader platforms continue to be freely downloaded and installed from Google PlayStore. But this is not a solution for the millions of users who have no...
Source: smnweekly.com
Alternatives to MetaTrader
The brokers that support MetaTrader and other similar platforms purchase the rights to the software; the servers are run by the broker, and it’s just the software itself that is supplied by MetaQuotes, the company that developed MetaTrader.
Source: investingreviews.co.uk
What Are The Alternatives To MetaQuotes' MetaTrader MT4 And MT5 Platforms For Brokers?
It has been over 2 weeks since LiquidityFinder broke the story on Saturday 24th September that Apple had removed MetaQuotes' MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps from its App Store. This move by Apple, with still no official explanation from either Apple or MetaQuotes, has left a huge amount of uncertainty in the trading industry, both for brokers and end clients....
Source: liquidityfinder.com

MetaTrader 4 Reviews

TradingView Alternatives For Budget Conscious Traders
TradingView is a popular choice for many but there are many other options that offers unique features and advantages for different trading styles and preferences. cTrader, MetaTrader and TakeProfit.com has powerful tools and features that makes it more accessible and helps traders to achieve their goals. TakeProfit.com stands out with its Indie programming language and...
Source: medium.com
Top 8 Forex Tester Alternatives in 2024
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely-used trading platforms that include basic backtesting functionalities. These platforms are popular due to their availability and versatility, but they come with some limitations.
Source: forextester.com
13 BEST TradingView Alternative for Equity, Crypto & Forex
MetaTrader is a trading platform that is widely used for financial markets like Forex, stocks, futures, etc. It provides superior tools for technical and fundamental analysis of the market.
Source: www.guru99.com
5 MetaTrader alternatives for Apple devices (Jan 2023)
In September 2022, many traders were unpleasantly surprised by Apple’s decision to ban from its AppStore the mobile apps of the industry’s most popular and widely-used trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Source: smnweekly.com
What Are The Alternatives To MetaQuotes' MetaTrader MT4 And MT5 Platforms For Brokers?
It has been over 2 weeks since LiquidityFinder broke the story on Saturday 24th September that Apple had removed MetaQuotes' MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps from its App Store. This move by Apple, with still no official explanation from either Apple or MetaQuotes, has left a huge amount of uncertainty in the trading industry, both for brokers and end clients....
Source: liquidityfinder.com

Social recommendations and mentions

Based on our record, MetaTrader 4 seems to be more popular. It has been mentiond 1 time since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

MetaTrader5 mentions (0)

We have not tracked any mentions of MetaTrader5 yet. Tracking of MetaTrader5 recommendations started around Mar 2021.

MetaTrader 4 mentions (1)

  • MT4 new build is broken?
    That makes sense, it's not listed on metatrader4.com. This is absurd since all the installers get this beta build. Thanks for the answer :). Source: over 3 years ago

What are some alternatives?

When comparing MetaTrader5 and MetaTrader 4, you can also consider the following products

TradingView - The best charting tool for crypto and stocks

eToro - The social investment network that connects traders from around the globe and enables them to share...

TakeProfit - TakeProfit is a trading platform driven by its community, equipped with tools for traders to monetize their skills. It encourages sharing research and making more informed trading decisions, allowing members to make the most of their expertise.

Robinhood - Free stock trading service.

AmiBroker - Professional tool for individual investor featuring: advanced formula language for writing indicators and trading systems; comprehensive back-testing reports; filtering by sectors; alerts and more...

StockCharts - StockCharts offers charting tools.

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