⭐ MT4 vs MT5 Key Difference

MT5 exclusive features:

Trade additional markets besides Forex (stocks, futures, options and bonds)
More time frames (+12)
More built-in indicators (+8)
Extra chart tools (+13)
Create own EAs without programming skills
New EA backtesting capabilities
Position netting and partial order fills
Depth of the Market (DOM)
Built-in economic calendar
Embedded MQL5 community chat
MetaTrader Market - a built-in online store with EAs and indicators
Transfer funds between accounts

⭐ MT4 vs MT5 Detailed Comparison

Since 2005 Since 2010
Original version
Extra features, meant to replace MT4 in the long-term
Suitable for everyone Suitable for everyone, with extras for savvy traders
Industry standard platform with full functionality
Newer platform with extra features, but same familiar core functionality and look
Trade Forex/CFD Market Trade Forex/CFD + Stock Exchange Markets
MT4 allows trading:
  • Forex
  • CFDs
  • Cryptocurrencies
  • Indices
  • Commodities
  • Metals
  • Energies
MT5 adds wider range of markets:
  • Forex
  • CFDs
  • Cryptocurrencies
  • Indices
  • Commodities
  • Metals
  • Energies
  • Stocks
  • Options
  • Futures
  • Bonds
9 time frames 21 time frame
Time frameMT4
MinuteM1 M5 M15 M30
HourlyH1 H4
Time frameMT5
MinuteM1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30
HourlyH1 H2 H3 H4 H6 H8 H12
30 built-in indicators 38 built-in indicators
Standard indicators set
MT4 Indicators Full List
New indicators in MT5:
  • Adaptive Moving Average
  • Average Directional Movement Index Wilder
  • Chaikin Oscillator
  • Double Exponential Moving Average
  • Fractal Adaptive Moving Average
  • Triple Exponential Average
  • Triple Exponential Moving Average
  • Variable Index Dynamic Average
  • MT5 Indicators Full List
31 chart tools 44 chart tools
Standard tools set
New chart tools in MT5:
  • Arrow
  • Arrowed Line
  • Buy Sign
  • Sell Sign
  • Construction of Waves
  • Elliott Wave Theory
  • Regression Channel
3 Execution types 4 Execution types
  • Instant Execution - filled at exact price quoted by the broker
  • Market Execution - filled at current market price (price may shift), aggregated from liquidity sources
  • Request Execution - trader requests price from broker in advance (mutual agreement on price)
  • Instant Execution
  • Market Execution
  • Request Execution*
  • Exchange Execution* - filled externally (on the exchange) at current market price, according with the current market depth (DOM)
  • *not used in Forex
4 Pending Orders 6 Pending Orders
  • Buy Limit
  • Sell Limit
  • Buy Stop
  • Sell Stop
  • Buy Limit
  • Sell Limit
  • Buy Stop
  • Sell Stop
  • Buy Stop Limit
  • Sell Stop Limit
1 Order Fill option 3 Order Fill options
  • Fill or Kill - executed immediately in whole, otherwise cancelled
  • Fill or Kill (FoK)
  • Immediate or Cancel (IoC) - executed immediately in whole or part, while any unfilled portion is cancelled
  • Return - executed in whole or part, while unfilled portion kept for further processing
Standard EA backtesting Enhanced EA backtesting
  • Single thread testing (1 currency pair at a time)
  • Generated fixed ticks
  • Multi-threaded testing (multiple currency pairs)
  • Real ticks with live spreads, forward testing
  • Currency correlation
  • 3x times faster testing speed
  • MQL5 Cloud Network model
none* Partial order fills
No Partial fills by default.
All orders always executed in full = FoK fills
*Exception from the rule is MT4 brokers with proprietary enhancements (to achieve ECN-like style on MT4)
  • Orders can be filled partially
    (with remaining portion being either Cancelled = IoC fills or carried further = Return fills)
none Netting
No Netting
Every open position runs separately
  • Netting = Multiple open positions for the same currency pair are combined into 1 "net sum" position
  • Netting is not available on "hedge enabled" accounts
none Depth of the Market (DOM)
Depth of the Market data:
  • For OTC Markets (over-the-counter markets = Forex/CFD) - DOM is based on the quotes provided by the broker
  • For Exchange Markets (stocks, options, futures, bonds) - DOM is based on real prices and order volumes from market participants
none Built-in economic calendar
Not available
Economic calendar features economic news from the US, JEU and Japan.
none Transfer funds between accounts
Not available
Transfer funds from a MT5 account to another directly on MT5 platform
MT4 is a 32-bit, mono-threaded platform MT5 is a 64-bit, multi-threaded platform
Standard performance with fewer system & memory requirements
Note: Mac OS no longer supports 32-bit system
Increased performance due to the 64-bit system, but takes more system & memory resources to operate
1024 trading instruments cap Unlimited trading instruments
MT4 supports a maximum of 1024 tradable instruments
MT5 supports unlimited number of instruments

More on the server side features: MT4 vs MT5 comparison (server side)

MT4 vs MT5 Trends

What does this Google search trend tell us?

It tells us one thing - MT4 is still very much a dominant platform. The MT4->MT5 transition continues.
However, it's not so one-sided. Let's take a look at the next trend:

This is a very exciting trend - we can see that interest for MQL5 language is now taking over MQL4.
This tell us that at least coders & EA savvy auditory is already actively leaning towards MT5.

Conclusion: we'll still likely see a few more years of MT4-to-MT5 transition, but the "ice is broken" and the move is underway!

MT5 execution types explained

Instant execution Market execution Request execution Exchange execution
Fill or Kill yes yes yes yes
Immediate or Cancel no yes no yes
Return no yes no yes

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