Module 3: Trading Platforms

MetaTrader 5

5 min read

MT5 is MetaQuotes' newer multi-asset platform with more timeframes and tools.

Differences from MT4

MT5 adds more timeframes (21 vs 9), more pending order types, a built-in economic calendar, market depth on supported instruments and a faster multi-threaded strategy tester. EAs use MQL5, which is not directly compatible with MQL4.

Which to choose?

Both are suitable for learning. Choose the one your broker supports and that runs any tools you plan to use. Many brokers now offer both.

Key takeaways

MT5 has more timeframes and order types.
MQL4 and MQL5 code are not interchangeable.
Pick the platform your tools and broker support.

Educational content only, not financial advice. Trading forex and CFDs involves significant risk of loss.