Best Mt4 Vs Mt5 Guide
MT4 vs MT5
Which trading platform you would choose when trying to build wealth in the financial markets, MT4 vs MT5? What trading software is most used by traders across the globe? is it MT4 or MT5?
We explain in this guide the difference between the two, so that you can decide which is best for you and your trading strategy.
MT stands for Metatrader. MT4 and MT5 are different versions of the Meta trading platform. The first one MT4 was launched in 2005 and is strictly limited to just Forex trading. MT5 was launched in 2010 and offers to trade a wider range of assets like commodities, stocks, indices and futures in addition to Forex.
Lets understand MT4 vs MT5 further.
MT4 vs MT5
There are a couple of major differences between MT4 and MT5. The MT4 uses MQL4 programming language while the other uses MQL5 language, which allows black box programming. Later, in 2014, black box programming was also expanded over to MT4 making MT4 and MT5 less different.
Programs that are written for MT4 are MT4 exclusive and cannot run on MT5. This is bad for those who are using MT4 and think they can just upgrade will to the new version.
Which is better MT5 or MT4? The answer is obvious and simple. It is MT5. If you are in the USA to comply with regulation use the MT5 trading platform.
If you are not in the US, there's a choice between the two and most of you may opt for MT4 as it is a tried and tested program. MT4 is easy to use and comes with less glitches. Even though MT4 has some annoying features, many believe it works well enough than alternatives.
MT4 vs MT5 Differences
- MT4 uses MQL4 language while MT5 uses MQL5 language.
- The first allows single back testing but the second allows multiple back testing.
- You don't require any technical support using MT4 while just the opposite is true for MT5.
- MT4 supports traditional time frames but the upgraded version MT5 supports twice the number, comparatively.
- The language used in MT4 cannot be used in the MT5 while the one used in the upgraded version works fine in downgrading mode.
Some Questions Answered
Can the same MT4 account used in MT5?
unfortunately you cannot. However, to show good customer support some brokers are offering help in migrating over from MT4 to MT5.
Can I trade other assets apart from Forex?
It is not possible with MT4. The MT5 is designed to help you trade in Forex as well as a wide range of assets like futures, commodities, indices and stocks.
Is MT4 highly reliable?
Even today MT4 is the most popular platform for Forex trading. Almost every Forex brokerage uses it.
Is a broker required to use MT4?
You don't require a broker to use the MT4 software. You can download a demo version of it and trade the Forex market. The MT4 version includes live price feed and other tools.
Some MT4 tools can be used without depositing any money. Using a brokerage for MT5 and MT4 has allot of added benefits. Brokers offer other features and financial tools that may help your investment strategy.
Brokers also have many educational documents and videos. Almost all brokers offer MT4 and MT5 demo accounts, which you should take full advantage of if you are a new trader.
We've collected thousands of datapoints and written a guide to help you find the best Mt4 Vs Mt5 for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best mt4 vs mt5 below. You can go straight to the broker list here.
Reputable Mt4 Vs Mt5 Checklist
There are a number of important factors to consider when picking an online Mt4 Vs Mt5 trading brokerage.
- Check your Mt4 Vs Mt5 broker has a history of at least 2 years.
- Check your Mt4 Vs Mt5 broker has a reasonable sized customer support of at least 15.
- Does the Mt4 Vs Mt5 broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your Mt4 Vs Mt5 broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your Mt4 Vs Mt5 broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your Mt4 Vs Mt5 can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Mt4 Vs Mt5.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below Mt4 Vs Mt5.
- What you are able to trade with each brokerage.
- Trading Platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Mt4 Vs Mt5 of 2021 compared
Here are the top Mt4 Vs Mt5.
Compare Mt4 Vs Mt5 min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are mt4 vs mt5. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more mt4 vs mt5 that accept mt4 vs mt5 clients
| Broker |
IC Markets
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Roboforex
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Pepperstone
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XM
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Forex.com
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OctaFX
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NordFX
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Markets.com
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Swissquote
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Admiral
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FXPro
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| Rating | |||||||||||
| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 | Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
| Min Deposit | 200 | 1 | 200 | 5 | 100 | 5 | 1 | 250 | 1000 | 200 | 100 |
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| Used By | 60,000+ | 10,000+ | 10,000+ | 70,000+ | 150,000+ | 30,000+ | 10,000+ | 10,000+ | 300,000+ | 10,000+ | 10,000+ |
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| Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | MT4, MT5, ZuluTrade, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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| Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with pepperstone |
Sign
Up with xm |
Sign
Up with forexcom |
Sign
Up with octafx |
Sign
Up with nordfx |
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Up with marketscom |
Sign
Up with swissquote |
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Up with admiralmarkets |
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Up with fxpro |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | 74% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk |
| Demo |
IC Markets Demo |
Roboforex Demo |
Pepperstone Demo |
XM Demo |
Forex.com Demo |
OctaFX Demo |
NordFX Demo |
Markets.com Demo |
Swissquote Demo |
Admiral Markets Demo |
FxPro Demo |
| Excluded Countries | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, JP | BR, KR, IR, IQ, SY, JP, US | US, CA, IL, KR, IR, MM, CU, SD, SY | BE | US | No | RU, BR, CH, ZA, SG, JP, US, CA, BE, IL, TR, NZ, MY, SY, TH, ID, IR, IQ, HK, PH, PR | US | US, CA, JP, SG, MY, JM, IR, TR | US, IR, CA |
All Mt4 vs mt5 in more detail
You can compare Mt4 Vs Mt5 ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Mt4 Vs Mt5 for 2021 article further below. You can see it now by clicking here
We have listed top Mt4 vs mt5 below.
Mt4 Vs Mt5 Table of Contents
- Mt4 Vs Mt5 Explained
- 6 Factors to Consider when Choosing Mt4 Vs Mt5
- Are Your Mt4 Vs Mt5 Trusted And Established?
- Are The Mt4 Vs Mt5 World Leading?
- What are the Mt4 Vs Mt5 Commissions and Fees?
- What are the Mt4 Vs Mt5 Funding and Withdrawl Methods?
- Find Mt4 Vs Mt5 with Round-the-clock support?
- Make sure the Mt4 Vs Mt5 Offer Comprehensive Trader resources?
- Why do Mt4 Vs Mt5 need to be regulated?
- Mt4 Vs Mt5 FAQ
- What are the best Mt4 vs mt5 brokers?
- What is the best Mt4 vs mt5 broker?
- Related Mt4 Vs Mt5 Reviews
- Related Mt4 Vs Mt5 Alternatives
- Related Mt4 Vs Mt5 Comparisons
Mt4 Vs Mt5 Explained
Trading the financial markets with Mt4 Vs Mt5 when conditions are volatile can be difficult, even for experienced traders.
Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Mt4 Vs Mt5 is the platform that a Mt4 Vs Mt5 offer.
Choose Mt4 Vs Mt5 that's at the forefront of innovation and generally considered an industry-leader.
To gain access to the financial markets, you'll need Mt4 Vs Mt5 that you can rely on.
6 Factors to Consider when Choosing Mt4 Vs Mt5
Follow these five rules for selecting a broker that's right for you:
Are Your Mt4 Vs Mt5 Trusted And Established?
Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Mt4 Vs Mt5 broker is IC Markets. Established in 2007, and in operation for 12 years IC Markets have a head office in Australia.
IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
Another top rated broker is Roboforex.
Roboforex was established 2009, and in operation for 9 years Roboforex have a head office in Cyprus.
Roboforex is regulated. This means Roboforex are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
| Broker |
IC Markets
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Roboforex
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Pepperstone
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XM
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Forex.com
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OctaFX
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| Year Established | 2007 | 2009 | 2010 | 2009 | 1999 | 2011 |
| Head Office | Australia | Cyprus | Australia | Cyprus | United States | St. Vincent and the Grenadines |
| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) | Financial Conduct Authority (FCA) |
| Used By | 60,000+ | 10,000+ | 10,000+ | 70,000+ | 150,000+ | 30,000+ |
| Negative balance protection | Yes | No | Yes | Yes | Yes | Yes |
| Guaranteed Stop Loss | No | No | No | No | Yes | Yes |
| Learn More | Visit IC Markets | Visit Roboforex | Visit Pepperstone | Visit XM | Visit Forex.com | Visit OctaFX |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | 74% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits |
Are The Mt4 Vs Mt5 World Leading?
Choose a broker that's at the forefront of innovation and generally considered an industry-leader. IC Markets Segregates clients funds and offers over 232 instruments. IC Markets offers both an online trading platform as well as a mobile platform giving clients easy access to markets.
In addition, IC Markets supports many popular third-party trading platforms enabling access to a variety of markets worldwide that can be traded with the assistance of expert advisors or a customizable automatic trading strategy. IC Markets is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Mt4 Vs Mt5 is Roboforex . Roboforex Segregates clients funds and offers over 100 instruments.
| Broker |
IC Markets
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Roboforex
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Pepperstone
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XM
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Forex.com
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OctaFX
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| Instruments Available | 232 | 100 | 100 | 1000 | 4500 | 50 |
| Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps |
| Excluded Countries | US | US, JP | BR, KR, IR, IQ, SY, JP,US | US, CA, IL, KR, IR, MM, CU, SD, SY, PT | BE | US |
| Forex pairs offered | 65 | 35 | 70 | 80 | 80 | |
| Forex pairs offered | 65 | 35 | 70 | 80 | 80 | |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | |
| Cryptocurrencies | Yes | No | Yes | No | Yes | No |
| Commodities Offered | 19 | 21 | 16 | 15 | 12 | 0 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | No | Yes | Yes | Yes | Yes |
| Agricultural | Yes | No | No | No | Yes | No |
| Stocks Offered | 100 | 0 | 60 | 160 | 4500 | |
| UK Shares | No | No | No | No | Yes | No |
| US Shares | Yes | No | No | No | Yes | No |
| German Shares | Yes | No | Yes | Yes | Yes | Yes |
| Japanese Shares | Yes | No | No | Yes | Yes | Yes |
What are the Mt4 Vs Mt5 Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Mt4 Vs Mt5 broker IC Markets offers competitive offers for Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200.
Another top rated Mt4 Vs Mt5 broker Roboforex offers Forex, CFDs. Roboforex minimum deposit is 1.
| Broker |
IC Markets
|
Roboforex
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Pepperstone
|
XM
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Forex.com
|
OctaFX
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| Min Deposit | 200 | 1 | 200 | 5 | 100 | 5 |
| Withdrawl Fees | No | Yes | No | No | No | No |
| Inactivity Fees | No | No | Yes | Yes | Yes | No |
| Deposit Fees | Varies | No | No | No | No | No |
| CFD Commission Fees | Yes | No | Yes | No | Yes | No |
What are the Mt4 Vs Mt5 Funding and Withdrawal Methods?
When dealing with Mt4 Vs Mt5 having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.
| Broker |
IC Markets
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Roboforex
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Pepperstone
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XM
|
Forex.com
|
OctaFX
|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes |
| Paypal | Yes | No | Yes | No | Yes | No |
| Skrill | Yes | No | Yes | No | No | No |
| Payoneer | No | Yes | Yes | No | No | No |
| Neteller | Yes | Yes | Yes | Yes | No | Yes |
Find Mt4 Vs Mt5 with Round-the-clock support?
Customer service is very important when dealing with Mt4 Vs Mt5.
When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.
Mt4 Vs Mt5 customer support can include Phone answering services, Live chat support and Email customer service support.
IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
IC Markets and Roboforex offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
IC Markets
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Roboforex
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Pepperstone
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XM
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Forex.com
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OctaFX
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| Support |
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| Languages | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish | English, Chinese, Arabic | English |
| Learn More | Visit IC Markets | Visit Roboforex | Visit Pepperstone | Visit XM | Visit Forex.com | Visit OctaFX |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | 74% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits |
Make sure the Mt4 Vs Mt5 Offer Comprehensive Trader resources?
Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, IC Markets and Roboforex work together to bring the latest news and insights to traders.
For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.
Why do Mt4 Vs Mt5 need to be regulated?
A regulated Mt4 Vs Mt5 broker lowers your risk.
Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.
Mt4 Vs Mt5 brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.
Mt4 Vs Mt5 List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, MacCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, ZuluTrade, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account