MetaTrader 4 vs MetaTrader 5
MT4 vs MT5 decision in 2026: MQL5 vs MQL4, prop-firm support, broker availability, hedging vs netting, multi-symbol backtest. Practical guidance.
Pick MetaTrader 4 if…
Use MT4 only when your broker is MT4-only or you have an existing MT4 codebase that's been stable for years.
Best for: Traders whose broker is MT4-only or who already have a working MT4 EA library.
Pick MetaTrader 5 if…
Use MT5 for every new project — it is the modern platform, mandatory at most prop firms, and supports multi-asset and FIX-API.
Best for: Anyone building new in 2026, prop-firm traders, multi-asset and portfolio-level strategies.
Across 7 criteria: MetaTrader 4 wins 1, MetaTrader 5 wins 5, ties 1.
| Criterion | MetaTrader 4 | MetaTrader 5 | Winner |
|---|---|---|---|
| Language | MQL4 — procedural, C-style | MQL5 — OOP, C++-style | MetaTrader 5 |
| Strategy Tester | Single-symbol | Multi-symbol, multi-currency | MetaTrader 5 |
| Order model | Hedging only | Hedging + Netting | MetaTrader 5 |
| Asset classes | Forex + CFDs | Forex, CFDs, stocks, futures, crypto | MetaTrader 5 |
| Prop-firm support | Limited (FTMO old accounts) | Required at FTMO/MFF/TFT new accounts | MetaTrader 5 |
| Broker availability | ~80% of retail forex brokers | ~50% (growing) | MetaTrader 4 |
| Market presence (MQL5 Market) | Mature | Mature | Tie |
MetaTrader 4 pros
- +Most brokers default to MT4
- +Massive library of existing EAs
- +Simpler — fewer concepts to learn
MetaTrader 4 cons
- −MetaQuotes no longer issues new MT4 broker licenses
- −Single-symbol Strategy Tester limits portfolio testing
- −No native FIX-API
MetaTrader 5 pros
- +Modern OOP language
- +Multi-currency Strategy Tester
- +Required at all major prop firms
- +Native depth-of-market book
MetaTrader 5 cons
- −Smaller broker pool
- −Steeper learning curve from MQL4
- −Some legacy MQL4 EAs do not port cleanly
Frequently asked
Can I migrate an MT4 EA to MT5?⌄
Yes, but expect a partial rewrite. MQL5 is OOP and uses different order-management primitives. Strategies with simple market orders port quickly; strategies relying on MT4-specific hedging may need redesign.
Will MT4 be deprecated?⌄
MetaQuotes stopped issuing new MT4 broker licenses in 2018 but continues to support existing deployments. MT4 will be around for years — but new projects should target MT5.
Go deeper on the blog
Need this built end-to-end?
Viprasol ships production code on every stack on this page — MT4/MT5, Python quant, Claude/GPT agents, Postgres, Next.js, Stripe.
Send a brief →