Forex
What is the difference between MT4 and MT5?
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Short answer
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are trading platforms made by MetaQuotes and offered by brokers. MT4, from 2005, was built for forex and remains popular for its simplicity and huge library of expert advisors. MT5 adds more time frames, order types, an economic calendar, market depth and faster multi-asset backtesting. MetaQuotes stopped issuing new MT4 licences to brokers in 2018 and develops only MT5.
Side by side
| Feature | MT4 | MT5 |
|---|---|---|
| Designed for | Forex and CFDs | Multi-asset: forex, stocks, futures, CFDs |
| Time frames | 9 | 21 |
| Pending order types | 4 | 6 (adds buy/sell stop-limit) |
| Programming language | MQL4 | MQL5 |
| Strategy tester | Single-thread, one symbol | Multi-thread, multi-symbol, faster |
| Market depth / economic calendar | No / no | Yes / built in |
| Development status | Maintenance only | Actively developed |
Why MT4 is still everywhere
Even after MetaQuotes stopped selling new MT4 licences in January 2018, existing brokers kept it, and for years most trading volume on MetaQuotes platforms stayed on MT4 because traders' indicators and expert advisors (EAs) were written in MQL4. MQL4 programs do not run on MT5 without rewriting.
Which to choose
- Choose MT4 if you rely on a specific MQL4 indicator or EA that has no MT5 version.
- Choose MT5 for more time frames, better backtesting, stocks and futures, and long-term support.
- New traders are generally better served by MT5, since development continues there.
What Pakistani traders should check
- The platform is only software — what matters is who holds your money. Offshore brokers offering MT4/MT5 are not regulated in Pakistan.
- Some local regulated venues use their own terminals; ask your PMEX or PSX broker which platform they provide.
- Never install MT4/MT5 versions from links sent on WhatsApp or Telegram — fake builds can steal logins.
- Avoid "profit-guaranteed" EAs and "robots" sold online; backtests can be curve-fitted and live results differ.
- Do not give anyone your trading password or investor password for "account management".
Expert advisors in brief
An expert advisor is a program that trades automatically on MetaTrader. It can apply rules without emotion, but it cannot fix a strategy without an edge. Test any EA on a demo account for months, check performance across different market conditions, and understand exactly what it does before risking money.
Protecting your MetaTrader account
- Download MetaTrader only from your broker's official site or the official app stores.
- Use the read-only investor password if you must show your results to anyone; never share the master password.
- Turn on two-factor login in the broker's client area where offered.
- Log out of terminals on shared or office computers.
- Check your account history regularly for trades you did not place.
Roman Urdu mein jawab
MT4 aur MT5 mein kya farq hai?
MT4 aur MT5 MetaQuotes ke trading platforms hain. MT4 (2005) forex ke liye bana aur apni sadgi aur EAs ki wajah se mash-hoor hai. MT5 mein zyada time frames, order types, economic calendar, market depth aur behtar backtesting hai. 2018 se MetaQuotes ne naye MT4 licenses dena band kar diye aur sirf MT5 develop hota hai.
Frequently asked questions
Can I use my MT4 indicators on MT5?
Not directly. MQL4 and MQL5 are different languages; indicators must be rewritten or replaced with MT5 versions.
Is MT5 free?
Yes for traders. Brokers pay MetaQuotes for licences and provide the platform free with an account.
Is MetaTrader legal in Pakistan?
The software is legal. The question is the broker behind it: offshore brokers are not regulated in Pakistan, and funding them can breach State Bank rules.
Which is better for scalping, MT4 or MT5?
Both execute orders through the broker's servers. MT5 has more order types and market depth, but execution speed depends mostly on the broker.
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