MT4 vs MT5: which platform should you use?
By FXTrading4U Editorial Team · Updated 2026-10-30 · 5 min read
Choose MT5 if your broker offers it and you want faster multi-currency backtesting, more timeframes and more order types. Choose MT4 if your broker only offers MT4 or your EA or indicator is written for it. EAs and indicators are not interchangeable: the file must match the platform.
| Feature | MT4 | MT5 |
|---|---|---|
| Programming language | MQL4 (.ex4) | MQL5 (.ex5) |
| Timeframes | 9 | 21 |
| Strategy tester | Single-threaded, single symbol | Multi-threaded, multi-symbol |
| Account types | Hedging only | Hedging or netting |
| Broker support | Very wide, but declining for new accounts | Standard at most new brokers |
Which is better for Expert Advisors?
MT5 has a faster and more flexible strategy tester, which makes it easier to test an EA across several symbols and to use real tick data. MT4 has a larger library of older EAs and indicators, and some brokers still only offer MT4.
Can I use an MT4 EA on MT5?
No. MT4 uses .ex4 files and MT5 uses .ex5 files. They are built from different languages and a file for one platform will not load in the other. Buy the version that matches your terminal.
Hedging and netting accounts
On a hedging account you can hold buy and sell positions in the same symbol at once. On a netting account the positions are merged into one. Check the EA’s product page: some strategies need hedging.
Frequently asked questions
Is MT4 being discontinued?
MT4 is still supported by many brokers but fewer offer it to new clients. Ask your broker which platform they plan to support long term.
Which has better backtesting?
MT5, because it supports multi-threaded testing and real-tick modelling.
Related products
MT4
MT5