Differences Between MT4 and MT5

These are the main differences between MetaTrader 4 and MetaTrader 5.

Timeframes

MT4 has 9 time frames while MT5 has 21 time frames which include 11 types of minute charts, 7 types of hourly charts and daily, weekly & yearly time frames, which allows room for more analysis of the market.

Pending orders

MT4 offers 4 types of pending orders, whereas MT5 offers 6 types.

  • Buy Limit (MT4/MT5)
  • Buy Stop (MT4/MT5)
  • Sell Limit (MT4/MT5)
  • Sell Stop (MT4/MT5)
  • Buy Stop Limit (Only MT5)
  • Sell Stop Limit (Only MT5)

Hedging

Both MT4 and MT5 allow hedging.

Depth of market (only MT5)

The Depth of Market displays bids and asks for a particular instrument at the currently best prices (closest to the market).

Commission

  • MT4 => Roundtrip (100% applied at the entry)
  • MT5 => 50% applied at the entry and 50% at the exit

Would you like to know more? 

MT4 vs. MT5