MetaTrader 5 Guide: What It Is and How It Compares to MT4

Most traders know the name MetaTrader 5. Fewer know exactly what separates it from its predecessor — or why those differences matter for how you trade day to day.

MetaTrader 5 (MT5) is a multi-asset trading platform developed by MetaQuotes Software. It is the successor to MetaTrader 4 (MT4): MT5 was released in 2010 and is built to go well beyond the forex-only scope of its predecessor. Where MT4 was designed around currency pairs, MT5 supports forex, stocks, futures, commodities, indices, bonds, and cryptocurrency — all within a single platform environment.

This guide explains what MetaTrader 5 is, walks through its core capabilities, and gives you a verified, side-by-side comparison of MT5 versus MT4 so you can understand the real differences between the two. NAMH Global runs on MetaTrader 5 across desktop, web, and mobile — but the comparison here is factual, not a sales exercise.

What Is MetaTrader 5?

MetaTrader 5 is a professional trading platform built and maintained by MetaQuotes Software Corp., a Limassol-based technology company that also created MT4. MetaQuotes does not operate as a broker — it licenses the MT5 platform to brokers worldwide, who then deploy it for their clients.

The platform runs on Windows desktop (downloadable client), through a browser via the MT5 WebTrader, and on iOS and Android mobile apps. All three versions connect to the same trading account, so your charts, orders, and positions are consistent whether you are at a desk or on a phone.

MT5 was designed with institutional-grade capabilities in mind: a full order book, multiple position accounting modes, a built-in economic calendar, and a strategy testing environment that supports multi-currency, multi-threaded backtesting against real historical ticks. These are not marketing descriptions — they are specific platform features that affect how you interact with the market.

Core Capabilities of MetaTrader 5

21 Timeframes

MT5 provides 21 timeframes, from M1 (one minute) through to MN1 (monthly). MT4 offers nine. The additional timeframes in MT5 — including M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, and H12 — give active traders and system builders more granularity when analysing price structure and building rule-based strategies.

For most traders using standard timeframes (M5, M15, H1, H4, D1), the additional options are a background feature rather than a daily necessity. For algorithmic traders and those building specific time-based strategies, the extra range is a genuine working tool.

Six Pending Order Types

MT5 supports six pending order types: Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit. MT4 supports four — it does not include the Stop Limit variants.

A Stop Limit order combines a stop trigger with a limit execution: the order only becomes active once price reaches the stop level, but fills only at the limit price or better. This gives traders tighter entry control when trading breakouts — useful in scenarios where price can gap through a level and an uncapped Stop order would fill at a significantly worse price.

Depth of Market

MT5 includes Depth of Market (DOM) — a real-time view of pending buy and sell orders at each price level. DOM shows where liquidity is stacked above and below the current price, along with time and sales data from exchanges where available.

This is relevant for active traders and those placing larger orders who need to assess whether sufficient liquidity exists at a given level. It is also absent from MT4 entirely.

Built-In Economic Calendar

MT5 has an economic calendar integrated directly into the platform. It lists upcoming economic events — central bank decisions, CPI releases, employment data, GDP prints — with forecasts and actual results as they are published.

This removes the need to switch between the trading platform and an external events site during a trading session. Events are classified by expected impact level (low, medium, high), and the calendar syncs with local time zones.

MT4 does not include a built-in economic calendar.

38 Technical Indicators and 44 Analytical Objects

MT5 ships with 38 built-in technical indicators — covering trend, oscillator, volume, and Bill Williams categories — plus 44 graphical objects for chart annotation. MT4 includes 30 indicators and 31 objects. The additional indicators in MT5 are particularly relevant to multi-asset traders, since several apply to exchange-traded instruments rather than forex alone.

Algo Trading via MQL5

MT5 uses MQL5, an object-oriented programming language, for building Expert Advisors (EAs), custom indicators, and automated scripts. MQL5 is a more capable language than MT4's MQL4 — it supports a wider range of data types, more complex functions, and faster execution speeds, which matters for strategies that run many calculations per tick.

The MQL5 community marketplace provides thousands of free and paid EAs and indicators. Any system built in MQL5 will not run natively on MT4, and vice versa — the two languages are not directly compatible, which is relevant if you are migrating an existing automated strategy between platforms.

Netting and Hedging Position Modes

This is one of the most practically significant differences between MT5 and MT4 for forex traders.

MT4 supports hedging only — you can hold multiple positions in the same direction and opposite directions simultaneously on the same instrument. A buy and a sell on EUR/USD sit as two separate open positions.

MT5 supports both hedging and netting. In netting mode (standard on exchange instruments), all positions in the same direction on the same instrument are combined into a single net position. In hedging mode (available for forex and CFDs on most brokers), MT5 behaves similarly to MT4 — multiple positions in both directions remain open as separate tickets.

The key point: the mode is set at the account level. Check with your broker which mode your account uses, as it affects how positions are displayed and closed.

Multi-Asset Scope

MT4 was designed primarily for forex. MT5 supports forex, stocks, futures, bonds, options, and commodities within the same platform architecture. This matters for traders who want to monitor equity positions alongside currency pairs, or who trade instruments that exist only on exchange venues.

MT5 vs MT4: The Feature Comparison Table

The following table is built from MetaQuotes' official platform comparison documentation. These figures are accurate as of the date of publication.

Source: MetaQuotes official MT5 vs MT4 comparison page (metatrader5.com). Verified July 2026.

MT4 Is Not Obsolete — A Balanced View

A common oversimplification in the industry is that MT5 is better than MT4, full stop. The reality is more nuanced.

MT4 launched in 2005 and remains in active use across the industry. It has a large, mature ecosystem of third-party EAs, indicators, and developer expertise built up over two decades. For a trader running a proven MQL4-based strategy, switching platforms is not a neutral decision — it requires rewriting or repurchasing tools built specifically for MT4's architecture.

MT4's order model is also simpler. Four pending order types, one position accounting mode, nine timeframes: for a trader who does not need the additional capabilities, the reduced surface area is a feature, not a limitation.

Where MT4 genuinely lags is in capabilities that have become more relevant over time: multi-asset access, DOM data, built-in event scheduling, faster backtesting, and the broader MQL5 language. Brokers have also been making the commercial decision to move away from MT4 licensing, meaning long-term platform support for MT4 is less certain than for MT5.

The practical answer: if you are building a new trading setup from scratch, MT5 is the forward-looking choice. If you have a working MT4-based system with live historical context and performance data, switching deserves careful evaluation rather than an automatic upgrade.

Who Should Use MetaTrader 5?

MT5 is suited to a broad range of trader profiles. A few scenarios where it is a natural fit:

Multi-asset traders. If you trade forex alongside equity CFDs, indices, gold, oil, and crypto from the same account, MT5's market scope means you do not need to switch environments to access different instruments.

Algo traders and system builders. MQL5 is more capable than MQL4, the strategy tester runs faster and against real tick data, and the MQL5 community provides a large pool of developer resources. If you build, test, or buy automated strategies, MT5 is the stronger environment.

Active traders who use DOM and pending orders. Depth of Market and Stop Limit orders are both MT5-exclusive features. If either is part of how you trade, MT5 is the only option that delivers them natively.

Traders building a new setup. Starting fresh on MT5 avoids the sunk-cost consideration of an existing MT4 toolkit. You get the full feature set from day one without compatibility constraints.

Traders who want an integrated workflow. Having the economic calendar, full charting, DOM, and order entry in one place — rather than maintaining a parallel browser tab for a separate calendar — simplifies the trading session.

A Common Misconception: "MT4 Is Simpler, So It's Better for Beginners"

There is some logic to this. MT4 has fewer menus, fewer order types, and a flatter learning curve if you have never traded on an electronic platform before.

But "simpler" and "better for beginners" are not the same thing. MT5's interface is not significantly more complex for a trader using standard market orders, basic pending orders, and a handful of indicators. The additional features — DOM, Stop Limit orders, the economic calendar — are optional layers that experienced traders use. A beginner working through a demo account on MT5 will not encounter them unless they go looking.

The more relevant consideration for new traders is: access to instruments. If you start on MT5, you can trade forex today and add equity CFDs or commodities to the same account later without changing platforms. The platform grows with you. Starting on MT4 means you eventually hit the ceiling of its asset scope or face a platform migration.

How to Access MetaTrader 5 with NAMH Global

NAMH Global runs on MetaTrader 5. MT4 is not available at NAMH — MT5 is the platform across all account types and instruments.

Access options:

Desktop. Download the MT5 client from NAMH Global's MT5 platform page and connect to your live or demo account. Full feature access including DOM, strategy tester, and all 21 timeframes.

Web (WebTrader). The NAMH WebTrader runs in your browser — no download required. Core charting, order placement, and account management available from any device with an internet connection.

Mobile. The NAMH Mobile app provides trading on iOS and Android. Chart your positions, manage open trades, and respond to market moves away from a desk.

NAMH offers 2,100+ instruments across Forex, Commodities, Indices, Crypto, and Equities — all accessible through a single MT5 account. Execution is quoted at sub-35 milliseconds. Account tiers include Standard, Cent, Pro, and ECN. All tiers operate without a dealing desk.

To compare account types, visit the NAMH accounts page. To practise in a simulated environment with virtual funds before going live, open a demo account.

To open a live account: register at member.namhglobal.com/register.

FAQ — MetaTrader 5 Frequently Asked Questions

What is MetaTrader 5?

MetaTrader 5 is a professional trading platform developed by MetaQuotes Software Corp. It supports trading in forex, stocks, futures, commodities, indices, and cryptocurrencies. MT5 includes 21 timeframes, 38 built-in indicators, Depth of Market, an integrated economic calendar, and algo trading support via the MQL5 programming language.

What is the difference between MT5 and MT4?

MT5 offers 21 timeframes versus MT4's 9; six pending order types versus four; 38 built-in indicators versus 30; Depth of Market and a built-in economic calendar (both absent in MT4); both netting and hedging position modes versus hedging only; and a multi-threaded strategy tester versus MT4's single-threaded version. MT4 has a larger existing ecosystem of MQL4-based tools, and many brokers still offer it alongside or instead of MT5.

Is MT5 better than MT4?

MT5 has more features, broader multi-asset scope, and a more capable programming environment. Whether it is "better" depends on your situation. Traders with established MQL4-based systems face a compatibility break when moving to MT5. For traders building a new setup from scratch, MT5's capabilities and longer-term platform trajectory make it the forward-looking choice.

Does NAMH Global offer MT4?

No. NAMH Global runs exclusively on MetaTrader 5. MT4 is not available at NAMH. All four account types — Standard, Cent, Pro, and ECN — operate on MT5, available on desktop, web, and mobile.

Can I use Expert Advisors (EAs) on MetaTrader 5?

Yes. MT5 supports Expert Advisors built in MQL5. EAs run automatically on your MT5 account and can execute trades, manage positions, and implement complex rule-based logic without manual input. Note that EAs written in MQL4 (for MT4) are not directly compatible with MT5 — they require rewriting in MQL5 or replacement with an MQL5-native version.