What Is MetaTrader 4?
MetaTrader 4 (MT4) was released in 2005 by MetaQuotes Software. It quickly became the dominant retail forex trading platform and held that position for over a decade. At its peak, nearly every forex broker offered MT4 as their primary platform.
MT4 does the fundamentals well. It has a clean interface, supports custom indicators through MQL4, allows automated trading with Expert Advisors (EAs), and runs on desktop, web, and mobile. For forex-only trading, MT4 was a solid platform.
However, MT4 was built on 32-bit architecture nearly two decades ago. MetaQuotes stopped issuing new MT4 broker licenses and has directed all development toward MT5. The platform still functions, but it is no longer evolving. No new features are being added.
What Is MetaTrader 5?
MetaTrader 5 (MT5) was released in 2010 as a complete rebuild, not just a patch over MT4. It was designed from the ground up with modern architecture (64-bit), multi-asset support, faster execution, and a more powerful programming language (MQL5).
MT5 adoption was slow initially because MT4 was so entrenched. But as MetaQuotes phased out MT4 licenses and traders recognized the performance advantages, the shift accelerated. In 2026, MT5 is the industry standard. Most new broker deployments are MT5 only.
Beyond forex, MT5 supports trading stocks, futures, and options on the same platform. Even if you only trade forex today, having a platform that can grow with you matters.
Side-by-Side Comparison
Here is a direct feature comparison. Green check marks indicate where MT5 has a clear advantage.
| Feature | MT4 | MT5 |
|---|---|---|
| Release year | 2005 | 2010 |
| Timeframes | 9 | 21 |
| Pending order types | 4 | 6 (+ stop limit orders) |
| Built-in indicators | 30 | 38 |
| Graphical objects | 31 | 44 |
| Economic calendar | No (third-party needed) | Built-in |
| Depth of Market (DOM) | No | Yes |
| Multi-asset trading | Forex and CFDs only | Forex, stocks, futures, options |
| Programming language | MQL4 | MQL5 (faster, object-oriented) |
| Strategy Tester | Single-threaded | Multi-threaded (much faster) |
| Netting and hedging | Hedging only | Both netting and hedging |
| 64-bit architecture | No (32-bit) | Yes |
| Active development | No (maintenance only) | Yes (regular updates) |
| Web terminal | Basic | Full-featured |
| Mobile app | Available | Available (more features) |
Why MT5 Is the Better Choice in 2026
Bottom line: MT5 wins in 14 out of 15 categories. The only neutral category is release year, which is just a date. For anyone starting fresh or considering a switch, MT5 is the clear choice.
The comparison table tells the story clearly, but here are the differences that matter most in practice:
21 timeframes vs 9
MT4 offers M1, M5, M15, M30, H1, H4, D1, W1, and MN. MT5 adds M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, and H12. More timeframes give you finer control over your analysis. An H2 or H8 chart can reveal structure that falls between H1 and H4 on MT4, where you would be blind to it.
Faster backtesting
MT5's Strategy Tester is multi-threaded, meaning it uses all your CPU cores. Backtesting an EA that takes 20 minutes on MT4 might finish in 5 minutes on MT5. If you develop or test automated strategies, this is a massive time saver.
Depth of Market (DOM)
MT5 includes a Depth of Market window that shows pending buy and sell orders at different price levels. This gives you visibility into where liquidity sits and where large orders are stacked. MT4 does not have this feature.
Built-in economic calendar
MT5 has an integrated economic calendar showing upcoming data releases, their expected impact, and historical figures. On MT4, you need third-party websites or plugins for this. Having it built into your platform means fewer tabs and faster decision-making.
More order types
MT5 adds Buy Stop Limit and Sell Stop Limit orders that MT4 does not have. These are useful for breakout strategies where you want to enter at a specific price after a level is broken, but only if price pulls back to your desired entry.
64-bit performance
MT5 is a 64-bit application. It can use more memory, run more indicators, and handle more charts simultaneously without slowing down. If you run multiple charts with custom indicators and EAs, you will notice the difference.
Active development
MT5 receives regular updates. MT4 does not. Choosing MT4 in 2026 means choosing a platform that will only get older and less supported over time. MT5 is where MetaQuotes invests its resources and where the industry is heading.
Trading MT5 with LHFX
LHFX offers MetaTrader 5 as its trading platform. You get the full feature set: desktop, web, and mobile access, plus all the tools covered in this comparison.
For a full platform walkthrough and download links, see our MetaTrader 5 page. To compare account types and pricing, visit Account Types.