MT4 or MT5 for manual trading: the differences and which to choose
Updated 13 October 2026
Both terminals are alive and brokers offer both. For a manual trader the difference is not “newer is better” but a handful of specific things. Here they are.
The main differences
MetaTrader 4 vs MetaTrader 5
| Position accounting | MT4 — several positions per symbol; MT5 — hedging (like MT4) or netting (one position per symbol), depending on the account |
|---|---|
| Timeframes | MT4 — 9; MT5 — 21 (M2, M3, H2, H3, H6 and more) |
| Economic calendar | MT4 — none; MT5 — built in |
| Close all positions | MT4 — none; MT5 — bulk operations |
| Depth of market | MT4 — none; MT5 — yes, if the broker streams it |
| Strategy tester | MT5 — multi-threaded, with real ticks |
EA files are not compatible: .ex4 for MT4, .ex5 for MT5. You can switch terminals only if the EA has a version for both.
When to stay on MT4
- Your broker or account type is MT4-only.
- You rely on EAs or indicators with no MT5 version.
- Everything works and there is no reason to move.
When to switch to MT5
- You want the built-in news calendar and bulk close.
- You need non-standard timeframes.
- Your broker offers more instruments on MT5 (stocks, futures, indices).
- You need a netting account — those exist only in MT5.
Netting vs hedging in practice
On a hedging account each trade is a separate position, and you can hold a buy and a sell at once. On a netting account there is one position per symbol: a new buy adds to it, a sell reduces or reverses it. Breakeven, partial close and trailing behave differently — a panel has to account for that.
TradeDeck on both terminals
TradeDeck comes for MT5 and MT4 with the same features: lot by risk, lines on the chart, breakeven, trailing, partial close, close all, phone control. News on the chart works in both versions. The differences come from the platform itself: MT4 has no Stop Limit orders and only hedging accounts.