What MetaTrader 5 is, who makes it, and how it differs from MT4: timeframes, order types, Depth of Market, position accounting and automated trading.
MetaTrader 5 (MT5) is a trading platform made by MetaQuotes Ltd. MetaQuotes also made MetaTrader 4 (MT4), which came out in 2005. MT5 followed in 2010. MetaQuotes is not a broker. It licenses the platform to brokers, who connect it to their own trading servers and offer it to their clients.
MT4 was built mainly for currency pairs. MT5 also handles stocks, futures, bonds and other exchange-traded markets, and adds features MT4 does not have. This guide explains what those are and when MT4 can still make sense.
NAMH Global offers MT5 only. The feature counts below come from MetaQuotes' own comparison of the two platforms on metatrader5.com, checked in October 2026. MetaTrader is a trademark of MetaQuotes Ltd.
The three versions of MT5
MT5 runs as a desktop program for Windows and macOS, in a web browser as WebTrader, and as the MetaTrader 5 app from MetaQuotes on the App Store and Google Play.
All three connect to the same trading account. Your positions, orders and history are the same on every device. Chart layouts and indicator settings are saved on each device separately.
The desktop version is the only one that runs Expert Advisors, and the only one with the Strategy Tester and the MQL5 code editor.
What MT5 has that MT4 does not
More timeframes
MT5 has 21 chart timeframes, from one minute (M1) to one month (MN1). MT4 has nine. The extra ones are M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8 and H12.
Most traders use a handful of standard timeframes and will rarely need the others. If you build time-based systems, the extra timeframes let you test periods such as H2 or H8 without constructing them yourself.
Stop Limit orders
MT5 has six pending order types: Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit and Sell Stop Limit. MT4 has the first four.
A Stop Limit order waits for a breakout and then places a limit order behind it. With a Buy Stop Limit, you set a stop price above the current ask and a limit price below that stop. When the ask reaches the stop price, MT5 places a Buy Limit order at your limit price. You buy only if the price comes back down to that level after the breakout.
For example, with EUR/USD at 1.1000, you could set the stop at 1.1050 and the limit at 1.1030. These prices are an illustration. If the price rises to 1.1050 and then falls back to 1.1030, you buy at 1.1030 or better. If it keeps rising, the order is never filled. A Sell Stop Limit works the same way in the other direction.
Depth of Market
MT5's Depth of Market window shows the prices and volumes your broker streams for a symbol, at several levels above and below the current price. On exchange-traded instruments it can also show time and sales. It is not available on every symbol, and what it shows depends on the broker's price feed. MT4 has no Depth of Market window.
An economic calendar
MT5 has an economic calendar built into the platform. It lists upcoming releases, such as central-bank decisions, inflation and jobs data, with the forecast and, once published, the actual figure. Each event is marked by expected importance. MT4 has no built-in calendar.
More indicators and drawing tools
MT5 comes with 38 technical indicators and 44 graphical objects for drawing on charts. MT4 has 30 indicators and 31 objects. Both platforms accept custom indicators written in their own language.
MQL5 and the Strategy Tester
Expert Advisors (EAs), custom indicators and scripts for MT5 are written in MQL5. MT4 uses MQL4. The two languages are not compatible, so an EA written for one platform has to be rewritten or replaced to run on the other.
The MT5 Strategy Tester is multi-threaded, can test an EA on several symbols at once, and can use real tick history. The MT4 tester runs on a single thread. Both testers rely on the price history the broker's server provides.
The MQL5 site run by MetaQuotes has a market for free and paid EAs and indicators, plus a freelance section for hiring programmers. Anything you buy there for MT5 runs only on MT5.
Netting and hedging
MT4 lets you hold several positions on the same symbol at once, including a buy and a sell. This is called hedging.
MT5 supports two modes. In hedging mode it behaves like MT4: each trade is a separate position, and you can hold a buy and a sell on EUR/USD at the same time. In netting mode you hold one position per symbol. A new buy adds to a long position. A sell reduces it, closes it or, if it is larger, turns it into a short position.
The mode is set for each account by the broker and is shown in MT5. It changes how positions appear and how you close them, so check it before you trade.
MT5 and MT4 compared
Feature | MetaTrader 5 | MetaTrader 4 |
|---|---|---|
Timeframes | 21 | 9 |
Pending order types | 6, including Stop Limit | 4 |
Built-in technical indicators | 38 | 30 |
Graphical objects | 44 | 31 |
Depth of Market | Yes | No |
Built-in economic calendar | Yes | No |
Position accounting | Netting or hedging | Hedging |
Strategy Tester | Multi-threaded, multi-currency, real ticks | Single thread |
Symbols | Unlimited | 1,024 |
Programming language | MQL5 | MQL4 |
Markets the platform supports | Forex, futures, options, stocks, bonds | Forex |
Source: MetaQuotes, MT5 and MT4 comparison, metatrader5.com, checked October 2026. At a CFD broker such as NAMH Global, every instrument is traded as a CFD, whichever platform it is on.
When MT4 can still make sense
MT4 has been in use for about twenty years, and a large number of EAs, indicators and programmers grew up around it. If your strategy runs on MQL4 and has a live track record, moving to MT5 means rewriting or buying your tools again, then testing them from the start. That cost can outweigh the new features.
MT4 also has fewer menus and order types. If you never use the extra features, a simpler screen has some value.
The case for MT4 is weaker for anything new. Trade press reported in January 2018 that MetaQuotes had stopped selling MT4 licences to new brokers, and MetaQuotes is still developing MT5. If you are starting from nothing, there is little reason to build on MT4.
Who MT5 suits
If you trade forex alongside index, share, commodity or crypto CFDs, you can trade all of them from one MT5 login.
If you build, test or buy Expert Advisors, MT5 has the multi-threaded tester and can test on real tick history. You give up compatibility with older MQL4 code.
If you use Stop Limit orders or Depth of Market, MT5 is the only one of the two that has them.
If you want the calendar on the same screen as your charts, MT5 has it built in.
MT5 for beginners
For market orders, basic pending orders and a few indicators, MT5 is no harder to use than MT4. Depth of Market, Stop Limit orders and the calendar stay out of the way until you open them. A beginner on a demo account will not run into them unless they go looking.
The bigger point for a new trader is which markets they can reach. On MT5 you can start with forex and add other instruments later on the same account.
MetaTrader 5 at NAMH Global
NAMH Global offers MetaTrader 5 only. All four accounts (ECN, Pro, Standard and Cent) use it, and you can trade 2,100+ instruments from one MT5 login.
- Desktop: download MT5 from the MT5 platform page and log in with your live or demo account. This is the version with Expert Advisors and the Strategy Tester.
- Web: WebTrader runs in your browser with nothing to install. It cannot run Expert Advisors.
- Mobile: the MetaTrader 5 app from MetaQuotes lets you open, change and close trades and view charts on iOS and Android.
You can compare the four accounts, or practise first on a demo account with virtual money.
CFDs use leverage. You can lose money quickly, and you can lose all of the money you deposit. Only trade with money you can afford to lose.
MetaTrader 5 questions
What is MetaTrader 5?
MetaTrader 5 (MT5) is a trading platform made by MetaQuotes Ltd and offered by many brokers. It runs on desktop, in a web browser and as a mobile app. It has 21 chart timeframes, six pending order types, a Depth of Market window, a built-in economic calendar and its own programming language, MQL5, for Expert Advisors and custom indicators.
What is the difference between MT5 and MT4?
MT5 has more timeframes (21 against 9), more pending order types (6 against 4), more built-in indicators (38 against 30) and a multi-threaded Strategy Tester that can use real tick history. It also adds Depth of Market, an economic calendar and a netting mode. MT4 has a larger stock of older tools, which are written in MQL4 and do not run on MT5.
Is MT5 better than MT4?
For a new setup, MT5 is usually the better choice, because it has more features and MetaQuotes is still developing it. If you already run an MT4 Expert Advisor with a live record, the cost of rewriting it in MQL5 may outweigh the gain.
Does NAMH Global offer MT4?
No. NAMH Global offers MetaTrader 5 only. All four accounts (ECN, Pro, Standard and Cent) use MT5, on desktop, in WebTrader and in the mobile app.
Can I use Expert Advisors on MetaTrader 5?
Yes, Expert Advisors written in MQL5 run in the desktop version of MT5. WebTrader and the mobile app cannot run them. An Expert Advisor written in MQL4 for MT4 has to be rewritten in MQL5 or replaced, because the two languages are not compatible.
NAMH Global Ltd is a company registered in Saint Lucia (No. 2024-00372). It is not licensed by a securities regulator. This article is general information, not investment advice or a recommendation.