The difference between MT4 and MT5 by Exness

May 21, 2023 107 0

MetaTrader 5 is an advanced, 5th generation trading platform from trading software goliath, MetaQuotes Software Corp. It’s a new and improved version of MetaTrader 4 that’s loaded with additional features and tools, such as new order types and customizable timeframes.

Something to remember: If you open a MetaTrader 4 account, you won’t be able to use MetaTrader 5 with your MT4 credentials and vice versa. If you want accounts for both MT4 and MT5, you have to open separate trading accounts for them.

Here’s a list of the main differences between the desktop versions of MetaTrader 4 and MetaTrader 5:

	MetaTrader 4	MetaTrader 5
Pending orders	Buy Stop, Sell Stop Buy Limit, Sell Limit Take Profit, Stop Loss	Buy Stop, Sell Stop Buy Limit, Sell Limit Take Profit, Stop Loss Buy Stop Limit, Sell Stop Limit
Timeframes	9 timeframes (default only)	21 timeframes (default and customized)
Maximum leverage	1:Unlimited	1:2000
Account types	Standard Cent, Standard, Pro, Raw Spread, Zero and ECN	Standard, Pro, Raw Spread and Zero
Programming language	MQL4	MQL5
Archived orders	Orders older than 35 days are archived	Orders are not archived

MetaTrader 4 and MetaTrader 5 share the following features:

Trading instruments	Forex currency pairs including gold, silver, platinum and palladium Cryptocurrencies Indices Energies (USOil and UKOil) Stocks
Hedging	Available
Demo accounts	Available (Except Standard Cent Accounts)
Order execution	Instant and market
EAs, scripts, and indicators*	Available

* Due to the difference in their programming languages (MQL4 for MetaTrader 4 and MQL5 for MetaTrader 5), the Expert Advisors, scripts, and indicators that you use in MetaTrader 4 aren’t compatible with MetaTrader 5, and vice versa.