MT4 vs MT5

| Feature | MT4 | MT5 |
|---------|-----|-----|
| Release year | 2005 | 2010 |
| Language | MQL4 | MQL5 (faster) |
| Timeframes | 9 | 21 |
| Order types | 4 | 6 |
| Built-in indicators | 30 | 38 |
| Strategy tester | Single-threaded | Multi-threaded (faster) |
| Asset classes | Forex, CFDs | Forex, CFDs, Stocks, Futures |
| Economic calendar | No | Built-in |
| Depth of Market | No | Yes |
| EA community | Massive (MQL4) | Growing (MQL5) |

Bottom line: MT5 is objectively more capable. MT4 maintains dominance because of the massive library of existing indicators, EAs, and the familiarity of millions of traders.

Choose MT4 if:
- You use existing MQL4 expert advisors (EAs) or indicators — most are not compatible with MT5 without rewriting
- You trade with a broker whose best pricing is on MT4 accounts
- You are learning from tutorials/courses — most older content is MT4-based
- Simple forex and gold trading only — MT4 handles this perfectly

MT4 limitations:
- No more active development by MetaQuotes since 2019
- Limited to 9 timeframes
- Single-threaded strategy tester (backtesting is slow)
- No built-in economic calendar

Note: Exness offers both MT4 and MT5. The platform you use does not affect spreads or execution — only the interface and tools available.

Choose MT5 if:
- You are starting fresh — no existing MT4 setup to migrate
- You want more timeframes for analysis (M2, M3, M4, M6, H2, H3, H6, H12, and more)
- You want the built-in economic calendar
- You plan to trade stocks or futures alongside forex
- You write your own EAs — MQL5 is faster and more powerful
- You want Depth of Market (Level 2 pricing data)

MT5 compatibility note: MQL4 EAs and indicators are NOT compatible with MT5 natively. You need MQL5 versions or a compatibility layer.

Verdict for 2025: Start with MT5 if you are new. If you have an existing MT4 workflow with custom tools, stay on MT4.