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Side-by-side catalog fields and editorial notes. Missing or uncited values show as Not verified — this page does not rank, score, or invent a winner.
MetaTrader 4 and MetaTrader 5 are both free catalog terminals in the charting category. The useful question is not “which is better.” It is whether your Expert Advisors, indicators, and broker still live on MT4.
MetaTrader 5 is listed for FX, CFDs, and exchange-traded instruments with an MQL5 stack. MetaTrader 4 is listed for traders still running MT4 EAs and broker terminals that have not moved. We do not claim a migration deadline, a coverage percentage, or a performance winner. Those numbers are not on the catalog row.
If a strategy file is `.mq4` / `.ex4` and the broker only offers MT4, the MT5 profile does not magically run it. If you are starting a new desk, the MT5 row is the current retail default in this catalog. Confirm the broker’s listed platforms on a broker profile before you rebuild a library.
Read how to evaluate MT5 indicators before you buy a market product. Related: TradingView vs MetaTrader when the alternative is a browser chart, not another MetaQuotes build. The MT5 tools collection only includes published listings. The MetaTrader library is the ecosystem page, not a refund window.
| Metric | ||
|---|---|---|
| Pricing | Free catalog tier for the terminal. Broker commissions and VPS are not on this row. | Free catalog tier for the terminal. Broker commissions and VPS are not on this row. |
| Charting | Classic FX charts on the MT4 desktop. Familiar to anyone who started in retail forex a decade ago. | Multi-asset MetaQuotes charts. More timeframes and a different tester. Still only as honest as the broker feed. |
| Indicators | MQL4 indicators and EAs. `.mq4` / `.ex4` files. They do not magically run on MT5. | MQL5 indicators and Expert Advisors. A different language and a different marketplace. |
| Screeners | Market Watch for symbols the broker attached. | Market Watch plus a wider instrument set when the broker offers it. Not a global equity screener. |
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| Alerts | Terminal alerts. They fire where MT4 is running. | Terminal alerts and EA logic. Same constraint: the platform has to be online. |
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| Automation | MQL4 Expert Advisors. If the file is `.ex4` and the broker only lists MT4, that is the constraint. | MQL5 Expert Advisors. Do not assume a rewrite is a weekend. See how to evaluate MT5 indicators before you buy. |
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| Ease of use | Familiar if you already live here. New desks should not start on MT4 without a reason. | Current retail default in this catalog for new MetaQuotes desks. Still an install-and-login terminal. |
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| Best for | Traders whose EAs, indicators, and broker still live on MT4. | New FX and CFD desks, and anyone whose broker listed MT5 as the current terminal. |
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| Ratings | No catalog star rating on Traderfolio. | No catalog star rating on Traderfolio. |
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| Integrations | The broker that still ships MT4. Confirm platforms on the broker profile. | The broker that lists MT5. Confirm platforms on the broker profile. |
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Empty or uncited fields show as Not verified. This table does not invent a winner or a star score.