MetaTrader 5 (MT5)

What Is MetaTrader 5 (MT5)? Definition, Features, and How It Compares to MT4

Definition:
MetaTrader 5 (MT5) is a multi-asset trading platform developed by MetaQuotes in 2010 as the successor to MetaTrader 4 (MT4). It supports Forex, stocks, futures, commodities, and cryptocurrencies with more advanced tools and faster performance.

Explanation:
While MT4 was built mainly for Forex, MT5 was designed as a multi-market platform with expanded features. Many brokers and traders have migrated to MT5 because MetaQuotes has stopped licensing MT4 since 2018, making MT5 the new standard.

📊 MT5 Features

Multi-Asset Trading: Supports Forex, stocks, futures, commodities, and crypto
More Order Types: Includes buy stop-limit and sell stop-limit orders
Timeframes: 21 available vs. 9 in MT4
Indicators & Tools: 80+ built-in indicators and analytical tools
Depth of Market (DOM): Shows liquidity levels for ECN/STP trading
Integrated Economic Calendar: Directly inside the platform
Improved Backtesting: Faster, multi-threaded strategy tester
Programming Language: MQL5, more powerful than MQL4

🆚 MT5 vs. MT4

Feature	MT4	MT5
Launch Year	2005	2010
Asset Classes	Mainly Forex + CFDs	Forex, Stocks, Futures, Crypto
Timeframes	9	21
Order Types	4 basic types	6 (adds stop-limit orders)
Strategy Tester	Single-thread	Multi-thread (faster)
Programming Language	MQL4	MQL5 (object-oriented, faster)
Economic Calendar	No	Yes
Licensing	New licenses stopped (2018)	Actively supported

🌍 Why MT5 Is Important

Official successor of MT4 by MetaQuotes
Better suited for brokers offering multi-asset trading
Required for brokers that applied after 2018 (since MT4 licenses stopped)
More tools for professional traders, algo developers, and analysts

Example (Trading):
A trader uses MT5 to trade EUR/USD in Forex while also holding positions in NASDAQ futures and Bitcoin CFDs—all within the same platform.

Related Terms:
MetaTrader 4 (MT4), cTrader, Trading Platform, MQL5, Automated Trading

Category:
Trading Platforms / Multi-Asset Infrastructure

✅ FastPip Tip:

If you plan to trade multiple markets or build advanced automated systems, MT5 is the better choice. But many Forex traders still prefer MT4 for its simplicity.

📣 Related Resources from FastPip

✅ Compare MT5 brokers on our Broker Review Page
✅ Copy expert traders who run strategies on MT5 via our Copy Trading Platform
✅ Read MT4 vs. MT5 comparisons on our Blog to choose the right platform