Choose between MetaTrader 4 and MetaTrader 5 by the account, software and workflow you need. A platform's technical capabilities do not establish which instruments your broker or prop programme permits you to trade.

Compare the Actual Account

Ask the provider which version is available for your country, programme and account phase. Confirm the symbols, contract specifications, commissions and execution conditions on that account. A broker offering MT5 can choose a limited instrument list even though the software supports several market types.

The MetaQuotes comparison describes MT5's broader market and testing architecture. It does not mean every MT5 account provides exchange-traded futures or stocks. A CFD referencing an exchange product remains a different instrument.

Automation and Migration

MT4 uses MQL4 and MT5 uses MQL5. An existing indicator or Expert Advisor should not be assumed to work unchanged after switching. Obtain the appropriate version from its developer and verify its license and dependencies.

Compare the behavior of the actual tool rather than just whether it compiles. Symbol names, tick values, execution modes and account settings can alter results. Begin with historical testing and a demo account, checking logs and order behavior before considering live use.

MT5's documented tester includes multi-threaded and multi-currency capabilities. That can matter for research, but a faster backtest does not establish a profitable strategy. The test still needs appropriate data, costs and execution assumptions.

Netting and Hedging

MT5 supports both netting and hedging account systems. The official trading concepts explain that the broker sets the account system. It is incorrect to describe every MT5 account as netting-only.

Under netting, transactions change the common position for a symbol. Under hedging, separate positions can exist. This affects how an Expert Advisor identifies, reduces or closes exposure. Do not assume an opposite order closes the intended ticket in every account configuration.

Charting and Device Access

Recreate the specific chart, timeframe and indicator setup you use. Additional built-in features are useful only if they solve a task. A large existing MT4 tool library may be a practical reason to retain a supported MT4 account, while a new project may benefit from MT5's documented capabilities.

Check each device version separately. Desktop Expert Advisors do not automatically run inside a mobile application merely because you can view the same account there. If you need remote operation, choose a supported hosting approach and test it with the actual code.

A Controlled Switching Process

Keep a backup of source code, settings and trade records. Create a small migration list: account access, required symbols, indicators, automation and reporting exports. Mark each item verified only after testing the replacement.

Avoid moving both platform and strategy at once if you can separate the changes. That makes discrepancies easier to explain. A different fill or signal can arise from a data-source change rather than the version number alone.

Key Takeaways

  • Provider permissions define the tradable account scope.
  • MT4 and MT5 custom tools require version-specific checks.
  • MT5 supports both netting and hedging, depending on the account.
  • Compare a working setup rather than assuming newer guarantees better results.

Frequently Asked Questions

Is MT4 obsolete for every trader?

No universal conclusion follows from age alone. Check current provider support and the tools you actually require.

Is the platform free?

Check the provider's account and service charges. Platform access does not remove spreads, commissions or paid-tool costs.

Can I host an EA remotely?

Yes, where the code and account support the chosen environment. Our MetaTrader hosting guide distinguishes remote desktops from integrated virtual hosting.