The difference between MT4 and MT5 by Exness

The difference between MT4 and MT5 by Exness

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.

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