MetaTrader 5 (MT5)

What is MetaTrader 5?

MetaTrader 5 (MT5) is a trading platform released by MetaQuotes Software in 2010 as the successor to MetaTrader 4. Rather than simply replacing MT4, MT5 was built as a broader, multi-asset platform — it was originally intended for forex, stocks, and futures alike, whereas MT4 was designed primarily around currency-pair trading.

Like MT4, MT5 offers charting, technical indicators, and automated trading, but adds a number of upgrades on top.

What MT5 adds over MT4

• More timeframes. MT5 offers 21 chart timeframes compared with MT4’s 9, giving finer control over multi-timeframe analysis.
• More order types. MT5 supports additional pending order types beyond MT4’s basic set (such as buy-stop-limit and sell-stop-limit), giving more precise entry planning.
• Built-in economic calendar. MT5 includes a native economic calendar, useful for tracking scheduled data releases without a separate tool.
• Depth of Market (DOM). MT5 can display order-book depth for supported instruments, giving visibility into pending buy/sell interest at different price levels.
• MQL5. Its programming language for Expert Advisors, custom indicators, and scripts is more powerful and, since it compiles differently from MQL4, code is not directly interchangeable between the two platforms.
• Broader instrument coverage. MT5 is better suited to brokers that offer stocks, indices, and other asset classes alongside forex, since its architecture wasn’t built forex-first.

MT4 vs. MT5: which do brokers offer?

Broker support varies: some offer only MT4, some only MT5, and many offer both so traders can choose. A trader with an existing MT4 Expert Advisor may need it rewritten in MQL5 to run natively on MT5, since the two languages aren’t compatible out of the box. This is worth checking before switching platforms if automated strategies are part of your trading.

Why it matters for traders

The platform a broker supports shapes your available order types, analysis tools, and whether multi-asset trading (not just forex) is possible from one account. Traders running automated strategies should also confirm whether a VPS is available or needed to keep an EA running continuously.

Quick recap

• MT5 is MetaQuotes’ newer, broader platform, released in 2010 as MT4’s successor.
• It adds more timeframes, order types, a built-in economic calendar, and multi-asset support.
• MQL4 (MT4) and MQL5 (MT5) code are not directly interchangeable.
• Check which platform(s) — and which features — a broker actually supports before committing to one.