Choosing the right trading platform can have a significant impact on your trading success and experience. 

At FXTM, we understand that different traders have unique needs and strategies. That’s why we support both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the world’s most popular platforms. 

This article will guide you through the key differences between MT4 and MT5, helping you decide which one best fits your trading style. Plus, discover how FXTM’s tailored features and resources can enhance your trading experience on both platforms.

Why your trading platform matters with FXTM

When you trade with FXTM, your platform is more than just a tool—it’s your way to get more from every trade. Whether it’s enhanced analysis, faster execution, or access to advanced features, FXTM empowers you to maximise your trading potential. 

With robust support for both MT4 and MT5, FXTM ensures that every trader, from beginners to seasoned professionals, can take advantage of innovative technology, competitive trading conditions, and insightful resources designed to help you succeed.

What is MT4?

MetaTrader 4 (MT4) has been a trusted choice for forex traders and remains a cornerstone of FXTM’s offerings. 

Since its launch in 2005, MT4 has earned praise for its intuitive design and reliable performance. FXTM’s optimised MT4 platform is perfect for forex traders who prioritise simplicity, stability, and an extensive range of built-in technical indicators.

With MT4 at FXTM, you get more from every trade, thanks to our years of expertise and commitment to providing enhanced trading conditions. Known for its speed and reliability, MT4 offers seamless access to the forex market with robust charting tools, automated trading through Expert Advisors (EAs), and multiple order types. 

It’s particularly suited for traders who value straightforward forex trading without the need for complex multi-asset functionalities.

What is MT5? 

MetaTrader 5 (MT5), launched in 2010, delivers enhanced features and unmatched flexibility, making it the ideal choice for traders seeking to diversify across multiple asset classes. 

FXTM’s MT5 platform provides seamless access to forex, stocks, commodities, and cryptocurrencies—all within a single, advanced trading environment.

With MT5 at FXTM, you unlock more trading opportunities. The platform features advanced charting tools, an integrated economic calendar, and multiple order types designed to elevate your market analysis and broaden your portfolio. 

Equipped with powerful tools for comprehensive analysis, multi-currency backtesting, and an extensive range of technical indicators, MT5 empowers traders to make more informed decisions. It’s perfect for those looking to expand beyond forex and explore equities, futures, and commodities with confidence.

MT4 vs. MT5: a head-to-head comparison for FXTM traders

Tradable instruments with FXTM

• MT4: Specialises in forex trading, optimised for currency traders who want simplicity and efficiency. It provides access to all major, minor, and exotic currency pairs, making it perfect for forex-focused traders.
• MT5: Offers a wider array of assets, including forex, stocks, commodities, indices, and cryptocurrencies. This allows FXTM traders to diversify their portfolios and explore new trading opportunities beyond just currencies.

Technical indicators

• MT4: Comes with 30 built-in indicators, suitable for essential analysis. FXTM’s MT4 allows for easy integration of custom indicators, giving you flexibility to adapt your strategy. Additionally, traders can use Expert Advisors (EAs) to automate trades and analyse market conditions in real-time.
• MT5: Boasts 38 built-in indicators with advanced customisation, allowing for deeper market analysis. It also includes more complex charting tools, such as moving averages and oscillators, designed for traders who require more precision and want to apply complex trading strategies.

Timeframes

• MT4: Provides 9 timeframes, covering basic to advanced trading strategies. The standard timeframes range from one minute to one month, suitable for most short- to medium-term trading styles.
• MT5: Expands to 21 timeframes, giving FXTM traders more flexibility to view and analyse the market with greater detail. This is beneficial for traders who need to perform a more granular analysis, particularly those who engage in multi-day or long-term strategies.

Graphical objects and drawing tools

• MT4: Comes with 31 graphical tools, great for marking up forex charts. These tools include trend lines, channels, and Fibonacci retracements, which are essential for technical analysis.
• MT5: Offers 44 graphical tools, making it ideal for FXTM traders who need advanced charting capabilities. This includes more sophisticated features such as Gann tools, Elliott waves, and more, helping traders to better visualise market trends and patterns.

Order types

• MT4: Offers 4 types of pending orders: Buy Stop, Sell Stop, Buy Limit, and Sell Limit. FXTM’s MT4 setup makes executing straightforward strategies seamless and effective.
• MT5: Introduces 6 pending orders, adding Buy Stop Limit and Sell Stop Limit to the existing options. This provides FXTM traders with greater strategic flexibility for complex trading plans, especially when managing market volatility.

Order fill policies

• MT4: Uses a “Fill or Kill” policy, meaning orders are either fully executed or not at all. This policy is suitable for forex trading, where precision is critical.
• MT5: Adds more flexibility with options like Fill or Kill, Immediate or Cancel, and Return. These policies allow traders to better manage their orders and adapt to fast-changing market conditions, ensuring a more tailored trading experience.

Features

• MT4: Does not come with a built-in economic calendar but supports email alerts to keep traders updated. You can set custom notifications for price movements or news events, ensuring you stay informed.
• MT5: Includes an integrated economic calendar, offering real-time updates on global financial events and economic data. It also supports email alerts, making it easier for traders to anticipate market shifts and adjust their strategies accordingly.

Hedging

• MT4: Supports hedging, allowing traders to open multiple positions in opposite directions on the same instrument. This is particularly useful for forex traders who want to manage risk efficiently.
• MT5: Also supports hedging but adds the option of netting, giving traders flexibility to choose how they manage their trades. This is especially beneficial for multi-asset traders who may need to consolidate or separate positions based on market conditions.

Netting

• MT4: Does not support netting, focusing instead on hedging strategies that are widely used in forex trading.
• MT5: Provides the netting option, which is necessary for trading certain asset classes like stocks and futures. This allows traders to maintain a single open position per asset, simplifying position management.

Depth of market

• MT4: Offers basic DOM functionality, which is helpful for forex trading but limited for those who need in-depth order book analysis.
• MT5: Provides full DOM features, showing the liquidity of assets at different price levels. This is crucial for short-term traders and those who use scalping or day trading strategies, as it gives them a clearer view of market depth and potential price movement.

Advanced features

• MT4: Uses MQL4 for programming, which is ideal for developing simple trading robots, scripts, and custom indicators. The backtesting feature is single-threaded, which can limit efficiency when testing complex strategies.
• MT5: Utilises MQL5, a more powerful and faster programming language that supports advanced algorithmic trading. It also features a multi-threaded strategy tester, enabling traders to backtest and optimise strategies across multiple assets simultaneously, saving time and improving accuracy.

The bottom line 

Choosing between MT4 and MT5 at FXTM ultimately comes down to your trading style, goals, and the features you value most.

If you are a forex trader who prioritises simplicity, speed, and reliable performance, MT4 remains an excellent choice. It’s a robust and stable platform, perfect for executing straightforward forex strategies and leveraging automated trading through Expert Advisors (EAs). 

On the other hand, if you’re looking for a more advanced trading experience with the ability to diversify across multiple asset classes, MT5 is the way to go. With its expanded range of tools, integrated economic calendar, and more comprehensive backtesting capabilities, MT5 empowers traders who want to engage in detailed market analysis and implement complex strategies. It’s particularly well-suited for traders who are interested in stocks, commodities, and cryptocurrencies, in addition to forex. 

Whichever platform you choose, FXTM provides you with the resources, support, and technology to elevate your trading journey. 

Our competitive trading conditions, 24/5 multilingual support, and commitment to innovation ensure that you have everything you need to trade confidently and efficiently. FXTM also offers educational materials and market analysis to help you stay informed and refine your skills, whether you’re just starting out or are an experienced trader.

With FXTM’s proven track record of over a decade in the trading industry, you can trust us to be your partner every step of the way. Take your trading to new heights and experience the difference with FXTM, where your success is our priority.

Ready to start your journey with FXTM? Choose your platform today!