MetaTrader (MT4 / MT5)
MetaTrader is the dominant retail trading platform family - MT4 the classic, MT5 the multi-asset successor - both supporting automated EAs.
MetaTrader is the dominant retail trading platform family: MT4 the forex standard with the biggest EA library, MT5 its multi-asset successor with more timeframes and order types. Most brokers offer one or both.
MetaTrader is the most widely used retail trading platform family, developed by MetaQuotes. MT4 is the long-standing standard for forex, loved for its simplicity, stability and massive library of Expert Advisors; MT5 is its multi-asset successor, adding more timeframes, more order types and native support for stocks, futures and crypto alongside forex. Both run on desktop, web and mobile, and both support automated trading through MQL4/MQL5 scripts. Most brokers offer one or both, and many traders choose their broker based on which MetaTrader it supports.
How It Works
- MT4: the classic forex platform with MQL4 automation
- MT5: adds more timeframes, order types and asset classes
- Desktop, web and mobile versions on most brokers
Trading Tips
Choose the broker before the platform version - check which MT it offers
EAs written for MT4 do not run on MT5 without conversion
Test the web and mobile versions: execution quality varies between them
MetaTrader (MT4 / MT5) Example
Say you open MT5, drag a 50-period moving average onto EUR/USD, backtest an Expert Advisor over five years of history in the strategy tester, then copy the same setup to the mobile app and manage it from your phone. One account, three screens, same broker login.
How Traders Use MetaTrader (MT4 / MT5)
Learn one platform deeply instead of three shallowly. Master order types, the strategy tester and the data folder first. EAs and custom indicators come after you can trade manually. And verify downloads only from your broker or MetaQuotes, because fake MT installers carry malware.
Related Terms
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