If an EA or indicator specifies MT4 or MT5, use the platform stated by its provider. Otherwise, start with the platform supported by the broker account you plan to use and practise with a demo account.
MT5 has additional timeframes and order functions, but the platform itself does not make a trade more profitable.
MT4 and MT5 are separate platforms
MT4 and MT5 use different programming languages and file formats. An EA or custom indicator made for one platform should not be assumed to work on the other.
Broker availability also varies. Confirm that the login information and server name are issued for the platform you selected.
- Check the EA or indicator version
- Confirm the account's supported platform
- Record the server name issued with the account
What MT5 is and how it differs from MT4
MT5 (MetaTrader 5) is the platform MetaQuotes released after MT4. According to the MetaQuotes feature comparison (checked 11 September 2026), MT5 offers 21 timeframes against 9 on MT4, six pending order types against four, a Depth of Market window, a built-in economic calendar and a strategy tester that can run multi-currency tests.
MT5 can also run accounts in either hedging or netting mode depending on the broker's account settings, while MT4 uses hedging only. MT4 programs are written in MQL4 (EX4 files) and MT5 programs in MQL5 (EX5 files), so tools are not interchangeable.
MT4 is still offered by many brokers. Neither platform is 'correct' by default: the decision depends on the tools and account you will actually use.
Choose based on the tool you need
MT4 remains widely used for existing EAs and custom indicators. MT5 offers more built-in timeframes and a broader set of order functions.
The right choice is the one that supports the account and tools you actually plan to use.
- Use a demo login before funding
- Check whether the broker offers the same instruments on both platforms
- Do not install software from an unverified source
Brokers on this site that support MT4 and MT5
Every forex broker listed on this site supports both MT4 and MT5 (platform data confirmed on each broker page as of 19 September 2026): XS, HFM, Axi, Exness, DecodeFX, Monaxa, AXIORY and Vantage Trading. HFM and Vantage also provide a WebTrader and their own apps, Axi offers its own trading app and copy trading, DecodeFX offers the DecodeFX App and API access, and AXIORY adds cTrader (platform support differs by account type).
Support can still differ by account type. Confirm the platform for the specific account you intend to open, and check the EA rules (VPS, bonus-account restrictions) before running automated strategies.
- Confirm the platform for the exact account type
- Check hedging or netting mode if you hold opposite positions
- Read the automated-trading terms before running an EA
How to move from MT4 to MT5
An MT4 account cannot be used from MT5. With most brokers you open an additional MT5 account, close open positions, and move funds through the internal transfer function in the client area. Check first whether a transfer cancels any bonus credited to the MT4 account.
MT4 EAs and indicators (EX4) do not run on MT5. Obtain the MT5 version from the provider, or postpone the move if none exists. Templates and profiles are not carried over either, so note your timeframes, indicator settings and colours before rebuilding them in MT5.
MT4 and MT5 can be installed side by side. Keep the MT4 account running while you test the MT5 setup on a demo account, and switch only after orders, closes and EAs behave as expected.
- Open an MT5 account with the same broker
- Close positions before an internal transfer
- Get MT5 versions of every EA and indicator
- Test on a demo account before trading live
A platform is not an investment strategy
Platforms help you view prices and place orders. They do not determine whether a trade will make or lose money. Keep platform choice separate from risk and position-size decisions.
Frequently asked questions
Q. Can an MT4 EA run on MT5?
A. Not by default. MT4 and MT5 use different program formats. Check whether the provider offers an MT5 version.
Q. Is MT5 always better than MT4?
A. No. MT5 has more built-in functions, but MT4 may be the appropriate choice when a required tool or account is MT4-only.
Q. What is MT5?
A. MT5 is the trading platform MetaQuotes released after MT4. It adds more timeframes, six pending order types, Depth of Market, an economic calendar and multi-currency strategy testing, and uses MQL5 instead of MQL4.
Q. How do I switch from MT4 to MT5?
A. Open an MT5 account with your broker, close positions, move funds by internal transfer, obtain MT5 versions of your tools, rebuild chart settings and test on a demo account before trading live.
Q. Which listed brokers support both MT4 and MT5?
A. XS, HFM, Axi, Exness, DecodeFX, Monaxa and Vantage Trading all support both platforms. Support may still differ by account type, so confirm on the broker page.
Sources and conditions
FX Textbook is edited from official platform documentation, broker-published information and applicable terms where available. Account conditions, services and rules can change. Confirm the current terms in the broker's registration flow before you act.
FX Textbook is an independent information site, not a broker or provider of personal investment advice. Forex and CFDs involve risk. You may lose some or all of your invested capital. No trading result is guaranteed.
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