MT4 vs MT5 | Features and compatibility

Metatrader5, MT5


Update: Starting from October 12th, 2009 the testing of MT5 platform has begun.
It is expected to last for 5-6 month before the final product is released. Check out participating MT5 brokers.

Update: June 1st, 2010 – the Metatrader 5 platform has been released.

Update: January 18, 2011 – MetaQuotes Software Corp. has given an exclusive interview about MT5 to

MetaTrader 5 reflects the latest Forex industry development and demands as well as conform to the newest regulatory rules and standards, in particular about hedging and position management.

The major changes in MetaTrader 5

MetaTrader5 improvements

– High performance and outstanding working speed;
– 3 chart-types, 21 timeframes and over 70 analytical tools;
– 5 order types and 4 execution modes available for trading;
– trading operations on different markets (Forex, options, futures and stocks, DOM – depth of market feature);
– Advanced built-in reports on all trading activities;
– Working with MQL5 will be easier: there will be more data types, structures, classes; it’ll be easier to transfer C++ source codes into MQL5, EA execution speed will increase.

MT4 and MT5 compatibility

Unfortunately, Metatrader4 Language (MQL4) will not be compatible with MetaTrader 5 (MQL5). The decision was made in favor of new opportunities in programming language and execution speed, which to some regret of existing MT4 clients means, their custom indicators and EAs (.mq4 and .ex4 files) won’t work with MT5 platform; and need to be rewritten.

Here is the official announcement about MQ4 and MQ5 compatibility:

“From the beginning of Metatrader 5 development we thought that we will be able to save the compatibility. And we said about it many times. But the numerous traders/developers requests made us change our mind. We`ve understood that just can’t make a new language compatible. At the same time we have made MQL5 more powerful and in this way we gave you, traders and developers, more abilities – that was our main goal in developing of MQL5 IDE. From one side, new language with the new abilities, and from the other side – MQL4 and MQL5 compatibility. Unfortunately, these two aims can’t be reached at the same time.”

The interview with the leading developer at Metaquotes.

Common sense suggests that there should probably be some thoughts on adding MT4/MT5 compatibility tool, after all not all Forex traders are experienced C++ or MQL programmers, but vast majority of them uses custom MT4 indicators nowadays. But this is just hopes…

MT5 position/order management

To meet Forex industry standards, MT5 has changed the entire core of position handling. From now on MT5 traders will be able to keep only one position of any single trading instrument/currency pair.

Hedging at this point is eliminated and so is the separate management of two different in time orders on the same currency pair.
For example,
8:00am Long EURUSD 1 lot @ 1.2000,
and later added
12:00am Long EURUSD 2 lots @1.2500,

will be seen on Metatrader 5 account as one position “Long EURUSD 3 lots”.

This reflection of orders aligns with the new FIFO (first-in, first-out) rule implemented by NFA as an industry standard in summer 2009.

Closing the above mentioned orders will now look next way:
The first order to close is always the order that was initiated first, so it’ll always be the 8:00am Long position to close in our example above.

Buying and Selling the same pair (hedging strategy) will result in zero positions being open.

Order handling: Metatrader 5 versus Metatrader 4

Order Buy 1.00 EURUSD Buy 1.00 EURUSD Sell 3.00 EURUSD
MT5 Buy 1.00 EURUSD Buy 2.00 EURUSD Sell 1.00 EURUSD
MT4 #1 Buy 1.00 EURUSD #1 Buy 1.00 EURUSD#2 Buy 1.00 EURUSD #1 Buy 1.00 EURUSD#2 Buy 1.00 EURUSD#3 Sell 3.00 EURUSD

Will all Forex brokers transfer to MetaTrader 5?

Definitely all NFA regulated Forex brokers in US will make the transfer, as they have to comply with new NFA rules.

Regarding other Forex brokers, we believe they will be free to choose: stay with MT4 or upgrade to MT5. Retail clients are expected to influence the choice: while there is a large demand for MT4 platform base due to extensive use of MT4 custom indicators and reluctance to give up hedging and customary position management style, retail brokers should be able to provide the option.
If, however, there will be a tool to convert existing Expert advisors and indicators from MT4 to MT5, the process of introducing new MT5 platform to retail clients will be smoother.

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its 2016 now and things have changed dramatically… hedging is now available as well as netting on MetaTrader 5!
see comparison table
and a plethora of services of traders, convert your MT4 EAs now using

and please cast your vote above!

mT5 IS ONE OF THE best platforms and I know the difference in depth . I have done alot of research and compared mt5 vs mt4. I know all the differences and know how to operate it . If you really are interested in knowing the difference pls e mail me .
[email protected]

Ancilla Fernandes.

My name Rethu
I a programmer
i not satisfied with MT5
when i place buy order when sell order which was placed earlier gets closed for no reason according to me but for MT4 no such problems
even pending orders do have problems
all this above done manually
programmatically steps are generally difficult to understand too.

I can’t believe that MQ TOTALLY tailored MQL5 STRICTLY to meet US NFA rules and RESTRICTIONS.
If they want to have a strictly US NFA version fine, but to attempt to force other Forex traders to comply with these is unrealistic and a BIG Mistake. They are shooting themselves in the foot with this policy.
Hasn’t MQ noted that since the tightening and more restricted NFA rules, that many investors are moving there FX trading out of the US? US brokers are setting up non US brokerages for the rest of the world, which is NOT insignificant and some US brokerages now have branches outside the US that US citizens can use?
A number of brokerages decided to eliminate and terminate all US customers.

MQL5 sounds like it has some significant improvements, but with these policy decisions that have made with restricting everyone globally unnecessarily to the new US NFA rules, they have ensured that likely the majority of retail traders and a significant, if not he majority of the actual brokers themselves will never adopt and utilize MQL5.

Its a shame that this new version of MQL with it supposed advanced programming capabilities is going to for the most part be ‘still born’ and its capacities

Does MQ’s market research on this really show that the number of US brokers significantly outweigh the entire rest of the world including the Asian and London markets?

Why would MQ ignore and alienate a very large and substantial portion of the Global Forex market?
Poor judgement and bad call that will cost and limit MQL5 implementation and adoption and it will never have the market share that it has with MQL4 as long as it tires to force MQL5 into US rules that others aren’t bound by?

Now I know why all of the non-UU brokers that I use don’t have any plans to implement MQL5 at all!

I am experienced at programming, but new to programming trades. Based on what I have read so far, MT4 and MT5 are very fast, but other options (NinjaTrader) are more flexible. It looks like it might be good to try out lots of strategies in NinjaTrader, then port the 1 or few you like best to MT4 or MT5 for the best fills. Is this consistent with what other people are discovering?

Thank you!

Fix in a table of comparison of MT in the third column, the third order with #3 By 1.00 at #3 Sell 3.0

I have to agree with the previous comment.
MT5 is totally free – no hidden catches. This is very unusual in today’s world where everything comes with strings attached.
If you are new to programming and want to learn you will not find a better platform to start on.
I have been an amateur programmer for 32 years and this is the only time that I have actually been able to create something that is of any real use and makes me money at the same time!
Start by downloading a simple indicator (e.g. Volumes) and experiment by changing some of the parameters, re-compile it and see what happens.
When you get more confident you will find that you can exchange some of the original programming with OOPS functions. Eventually you will find that the only limits are your imagination.
Programming has never been easy because it is constantly evolving. For those who started with machine code and BASIC on a 16k ZX Spectrum will know what I mean.
Roll on MT6!

Good point.

Where on earth have some of you idiots acquired your facts about MT5 from?
I have been using it for 2 years. It comes with the same suite of indicators as MT4 but converted to MT5. It also has numerous examples on how to get more out of the programming by using the OOPS programming language.
The basic language is very similar to the old one and is easily converted over by even the most unskilled programmer.
The OOPS is not necessary unless you are an experienced programmer then you can really go to town and be as creative as you like, mainly in the on screen clickable menus.
The ability to create robots that monitor all symbols and timeframes (of which there are many additional ones) almost simultaneously must be a bonus.
The only downside to this new language is the fact that none of the brokers seem to be adopting it for their live accounts.
Perhaps somebody could give me a reason why this is so because I cannot think of one.
Before you doubters say any more please try it first. You never know, you might even get to like it!!!

Thanks, I’m a newbie and thought for a moment that MT5 was some kind of upgrade.
Now I know better. Much appreciated!

Nothing more than US Regulated PoS – NFA, CFTC. Will never use MT5, it sucks. I would rather emigrate to a third world country than use it. Once MT4 is no longer supported I won’t use Metaquotes software for even charting. Currently now using other platforms for trading. I would say that Metaquotes will lose at many as 50%-60% of their customers by only catering for the US retail market.

wow… I was just about to try and learn to use mt5, but reading all of these comments made it clear that I would be wasting my time.
Thanks everybody for this important information.

“MT5 – 2010 & beyond”…….haha MT5….come & gone! Nobody wants that stupid crapware, no heading, no MT4 compatibility, all of these so called “regulators” are idiots, they only work for the big guys & the metaquotes people are even more stupid, I wonder what they’re thinking now! What an abject failure MT5 has been!

As another commenter has said, this is another attempt of the government & “regulators” to tell us that they’re the masters & we’re the slaves! Welcome to communist-America where freedom to choose no more exists!

Sell USD at 1.4000
and hedge it with Buying USD at 1.4000
You’ve got 2 opposite orders. Whichever way the market goes, you’re in profit on 1 order and in loss on the 2 order.

This is a simple example, but in live trading it would be silly to hedge this way, since your net profit/loss = 0. As a rule, hedging strategies are used when:
you have one profitable position, which you don’t want to close,
and you want to temporarily trade the opposite way – on the retracement without touching the first position. Then you hedge.

Another example would be when you need to manage losing trades.

If one trade is stuck in a loss and there is a high possibility of a new price breakout on Support or Resistance, which could set you in loss even further, you can open a hedging order to compensate for that.

Hi, I am a Fx newbie. Could someone explain a situation where a hedging bet (being short and long on the same instrument at the same time) would be profitable whichever way the market goes? Maybe give an example? Thanks 🙂

it to risky to use mt5, i don’t like it

All of this software and other beside was a development of one source, I am using vertex platform from and happy with

It was said that “America does NOT rule the planet”, but it does, and that’s the problem. It attacks and occupies any nation that cannot strike back and says when a leader must give up power in favor of an opposition. It uses financial pressure on nations to prevent unarmed nonviolent activists from taking humanitarian boat rides across a sea to oppressed people. It penalizes/prevents foreign companies from doing business with any nation it targets for sanctions. And it prevents foreign brokers that do not accept its regulations from doing business with American citizens. I don’t know why an international Russian company would comply with the regulations of a single foreign nation, but if it’s willing to do that, what’s to prevent it from making MT4 no longer available in an attempt to force people to accept MT5 and US regulations? It would seem that there is a push by the financial giants to restore the forex market to being an exclusive club of the rich. I for one will continue with MT4 until the foreseeable American initiated ban against it comes into effect.

MT5 is outdated even before it hits the market !

i don’t know why u guys doing these bull-s*** MT5. MT4 is better than MT5.

What a massive backwards step. Hard-coding NFA rules into a piece of software with a global user base is beyond stupid. The NFA does NOT rule the planet, America does NOT rule the planet. In the UK as well as other places hedging is still used and MT4 is being used be Spread Betting brokers here now as well. By doing this you have basically made you new product a US only product and alienated a huge chunk of your user base who will now have to use another product instead of yours.

If MT5 doesnt support for MT4 file , I wont use this .
because all of my robot is MT4 file , not MT5 . I dont want to pay alot of money to buy the robot that I have .

Now almost two years later and MT5 is still going nowhere pretty darn fast.
As the author stated on this site, retail customer and trader demand will
dictate what they will peddle. MetaQuotes thought NFA and CFTC will rule
out and win out. As we can all see, that was not the case. They do allow
FIFO to be done in backoffice if firms will purchase their own accounting
software to do so in the backoffice rather than on MT4 platform directly.
FXDD was the only one doing this… now ATC… and rest of the brokers will
probably follow suit. And the regulating arses may come to their senses
and reneg on their stupid FIFO and 1:50 rule and go back to where it was
before. And what use is MT5 in its current form? It is USELESS to everyone.
So they will have to reprogram it to allow hedged positions. And it has to
be made compatible with MT4. So, again… it accomplished nothing. Still
nobody biting on MT5. It will take over in matter of months they said. Right.
Not one single offshore firms will have any use for MT5.

what is the honest forex

Thanks for the write-up on MT5.
There are other countries in the world besides BS USA. It looks like I am stuck with MT4 that allows trading flexibility. Sorry Metrader you have lost me.

Cheers Big Ears.

MetaQuotes Software Corp. has given us an exclusive interview about MT5 platform

Hope you’ll be able to find many answers there as well as helpful references to the latest development features.

Wow. The stupidity of it all.. what a waste of resources. If they don’t fix the mentioned issues I’ll be another one of those migrating (hopefully staying) with the brokers that offer MT4. And if MT4 won’t be available I’ll look at other software.

Mt4 has a lot of work done by traders and programmers (time and money), a lot of personalized indicators and expert advisors, that means a huge inertial force that makes people (including myself) stay with mt4… Huge mistake the non-compatiblity of languagues.

If my Broker switched to MT5 I will have to leave him even If I have to go to Other country.

Is there a way to make mt5 source code a true open source where EA developers can not take the code and copy right any of it. The code was not invented by EA developers and for them to copyright open source code should be eliminated.

MT3.83 “1999-2001”
MT3.86 “2002-2005”
MT4.00 “2006-2010”
MT5.00 “2010-& Beyond” End Of Story…
The Evolution Of The Best FX Platform On The Market…
Comment By:
Rod Harrell,
549 – 66th Street,
Oakland, California, USA

I don’t think MT5 will be popular soon, unless it’s got the feature which will make all skeptical traders change their mind. We’ll see, I’ll stay with MT4 for the moment.

MT5 has no use whatsoever for me. Lunatics are trying to take over the asylum. Move your accounts to Europe, guys!

It just makes no difference to me .. still MT5 is lacking in many features that are present in other platforms like taking part of your position of the trade and leave the rest…

also simple line drawing tool is not embedded ..
I expected something better actually in MT5 .

MT5.. Total waste of time. more than 50 pesent of people using Expert adviser in mt4.
If we move to Mt5 we need to rewritten of all the Ea’s.
This will be the benefit for some programmers not for the traders.
Also if hedging is not allowed in mt5, who can win in the forex game?
Traders request their broker to contine mt4 otherwise leave them to another around the world.

if metaquotes changed the platform to mt5, why not embracing the contents/features of mt4 into it..then all the materials in mt4 still can be used in mt5……… transfer to mt5 what a big big big scam bullshit
the software provider wants to earn money, right??????????LOL

Very limited view of the world what about non-USA brokers why limit the order functionality and hedging? If you haven’t noticed a lot of USA prokers have off shore divisions to allow for flexibilty for their customer – I doubt very much if MT5 will get any traction in the short term.

I’m in Canada. I’m taking my money overseas. I cam almost guarantee that most Americans will do likewise. With the rules that the U.S. has brought out or is bringing out, the yanks will have a hell of a time making it with forex. After reading what I have here I can tell you that I wont be bothering with mt5 unless they bring out a version for the rest of the world. Hell, there is over 6.8 billion people in the world, and only 309 million in the states… why would you make a software geared ONLY to the yanks? Funny that the us only has about 4.5 percent of the worlds population and yet they are trying to tell us how we can and can not trade?

stp/ecn brokers make money whether you win or lose.
stp/ecn brokers make no money if you don’t trade at all.
So, only a foolish broker would not offer mt4.
Many brokers already offer a variety of platforms, one more surely won’t hurt, especially as the mt5 prohibits some trading styles that are not actually illegal in over half of the world!
Maybe mt5 has really only been created for the U.S. they are the only ones that will use it.

MT5 will totally kill my trading strategy to not able to have open Long and Short position at same time. 🙁

Very sad.

I like the info on your page. It helps me alot to understand what’s going on.

WARNING: MT5 is designed to make people trade the way they (US Goverment) want. They want small guys like you and me loose money by restricting our own trading methods and style.

Important: Keep on requesting to your broker to also keep MT4 available to trade with when the MT5 goes live.

MT5 is a total waste of time. No Hedge… No backward compatibility with MT4.
As far as US FX market…with its’ 100 to 1 limit it’s quickly dying. At 10 to 1 it will be instantly dead…

FSA regulated UK ECN STP firms will have
no use for MT5 unless MT4 backwards
compatibility module is built in to MT5.
They simply will not have any use for MT5.
Their retail customers will not even demand
it so why would they pay to have MT5 branded
with their corporate logo? US firms on the
other hand will be forced by CFTC and NFA
to adopt MT5 along with the ridiculous 1:10
leverage mandate. This is not some proposal…
I think they are getting ready to make it a
a binding rule for US brokers to adhere to soon.

No, unfortunately, these features won’t be found on MT5.

Will MT5 support trading directly from the chart.
Will I be able to open/close positions in the chart and move stop-losses.

I will prefer we all stick to MT4 if u are with me imagine hw long it must have taken u to get ur system working,now MT5 again u start all over,i jus cant work wit ok wit MT4.


I am with Tadawulfx as well, one month now. I cannot complain. Order execution has been fast. It only re-quoted two times so far, and that was when price was falling or rising at turbo speed.

So far, I have lost money, but this is my own fault, not Tadawul.
For what I can see, it is extremely difficult to make consistent gains in the Forex, however, I also can see the possibly to make some money with diligence, and a little luck.

This new “regulation”, and the MT5 platform will make it even harder to scratch and claw out a buck in the Forex.
Maby those who make the rules are thinking “we will make more money from the people, by tightening the rules”. This plan will backfire on them, because they will lose more traders, and potential newbies.

Will there be more “new rules” to further ‘tighten the grip’?
We need to resist! We need to send a “message!

Boycott the MT5 system. And when they try to force you to use it, Find Another Broker. There will always be someone around the world to fill the need.

And if that doesn’t work; then screw the whole Forex system. Pull your money OUT, and watch the entire system dry up. How do “those who make the rules” make their money then?

We have a voice with our choice, and a Bigger voice with our money!


I e-mailed to my FX broker TadawulFX and they e-mailed me this:

“””””Thank you for your e-mail response e-mail, please feel free to e-mail me directly in the future to help you, without delay.

You are right that the MT5 platform does not allow hedging, which is why if we ever offer it we will also offer the MT4 at the same time so clients can chose which one they will trade with.””””

I was worried because they are beta testing MT5 so I thought they were going to switch to the new platform completely when it was going to be released but they are going to offer both MT4 and crap MT5.

So at least we are going to have the option to stay with MT4 what a relief.

Thank You TadawulFX!!!!!!!!

This is Crap.

This is the reason I left my broker in the US because of the elimination of Hedging!!!!!

I don’t know what the hell is going on with the financial system world wide but I feel that they found out how traders are using hedging techniques to win at there trading game and now they want to eliminate that.

This reminds my of a like a kid that keeps changing the rules of the football game on every play to benefit himself its F’ingBS!!

I hope not all brokers go to this Sh.. MT5

I know that FXpro is not going have anymore US clients starting in sometime January 2010 I hope this is not a trend. I have an account with TDFX and the are testing MT5 and if they switch to this piece of Sh.. I going to have to find another broker!!!!

I did not realize that MT5 is eliminating hedging till today from reading Traders comments I don’t f’ing believe this.

I just got use to using MT4 recently coming from Ninja Trader and MT4 is not a good trading platform for traders it is like going back to the early years of computing working with MT4 or MT5 but I wanted to trade Forex so I sucked it up and went for it but it left me with a bad taste in my mouth like Diet Coke but if I have to I’ll keep looking a broker that will allow Hedging on a different platform.

Hedging is eliminated entirely no matter whether it is a US or European broker using MT5, the core of MetaTrader has been affected with no hedging possibilities left.

Why cant you hedge in MT5? FiFo rules apply only to the US, not in Europe.


As with most things , America forgets that all persons don’t live within their borders,
most of us don’t give 2 hoots for the restrictive practives of an ever more game regime
(pity they didn’t watch their own barn 10 years ago when this trouble started)

I would say that UK, Australia, Canada and many other countries have well regulated and controlled
investment businesses.

I don’t often hedge, but I sure do when I need to, as well – i’ll decide which order i want to kill my
trades thank-you, why can’t the NFA bullshit be switchable ? if not then Really the only upside
will be if the EA analyser can utilise multi-core/multi-threads properly, if not – who cares
I’ll stay with MT4 or move to another provider, like Oanda or Dukascopy…

If my broker will use MT5 this those limits (I am european) then it’s time to go over another platform and broker.
I think metatrader will distroy hisselve with his own hands.

Can’t disagree with you. It makes traders unsettled about those changes. I would myself love to see more order types being added, in particular OCO orders. So far MetaQuotes don’t plan it for MT5 platform.

if hedging will not be allowed, and combining orders, than it is piece of shit.

Instead of destroying what is currently working in MT4, they should fix what is not, like parent orders, if orders, etc. something like what is provided by dealbook by GFT.

In MT5 we will no longer have the option to hedge, as far as I understood it, be it against your manually opened trades or against the EA initiated trades. you would have to accept your losses before opening a trade in the opposite direction.

I have read in a number of forums, that if you have a single EA on an instrument, that it may inhibit the types of trades you may want to do manually. This would especially be the case if you want to trade in the opposing direction to a robots trade, and the robots trade is presently in a losing position. You would be forced to recognise the loss, before you can trade manually in the opposing position.

But if you trust your robot this would suck. Is this the case???

It would be nice if MT5 has the ability to place OCO orders as well! :).

Well, not exactly a broker or MT5 related question 🙂 but… alright

What you saw is called “divergence” – indicator (in this case RSI) was rising while price was making new lows.
Trading with RSI alone one 1 minute charts and especially when you’ve chosen such volatile pair as GBPJPY is not the best option. Refine your trading method by adding additional parameters for entries and have a look at divergence setups and ways to trade them.

Good luck!

Broker guru thank u very much i have read through the pages and it was helpful. but what i would like to know is why i took a position and BUY when Rsi was 31 and the trend went down to 25 and later came back to 30 and moved to 50 and yet i was still running at loss. Well i used
5 lot size
1minute trade
Currency GBP/JPY
Amount 3000 USD

One of the amusing things about trading is the inability of people to understand that once advantages from certain tools become widespread, they completely lose any possible advantage that they once had, unless they enable unique methods or strategies that remain out of circulation. Also, as the tools become more complicated, they actually take more time to understand and use. Just another thing so-called “expert forex tutors/coaches” and others can claim people need to “master” before they can become rich.

As far as I know, MQ5 language is not available to public yet, but it was promised to come out before the actual presentation of MT5, so that traders have time to get familiar with new language features.

All indicators and EAs that were written for MT4 won’t work with MT5, regardless FIFO or any other NFA rules – it is an official statement from Metatrader developers. So, yes, all indicators and EAs have to be re-written for a new platform.

Does anyone have a cross written example of an EA for MT4 written into C++ for MT5?

Can we have any examples of typical EA styles written for MT5? When you say MT4 EA’s will have to rewritten for MT5 is that an across-the-board statement or specifically for EA’s that do not comply with the NFA restrictions? Last thought – will the indicators still be contained within the MT5 program or will they have to be rewritten, will those contained within the program respond similarly or will they be a whole new learning experience? I ask because I’ve just learned to use the MT4 indicators.

mt5 is a complete bull shit ,it’s another heavy scam bag filled with advanced tricks

Does anybody know the actual release date of MT5 and if/when will FAPTurbo and Megadroid ea’s release a version to work under MT5 ?

No need actually!!!
Many tricks at metatrader version
no matter which version occurs
All of them is same,

Hello Everyone,

MT5 looks cool but I would like to see a trading dome like in Ninja Trader so it can be ease to trade limit orders and adjust your stops and profit targets with a click of a button.