About MetaTrader 4
MetaTrader 4 (MT4) is the world's most widely used retail forex trading platform, developed by MetaQuotes Software and released in 2005. Despite being over two decades old, it remains the go-to choice for millions of traders thanks to its powerful Expert Advisor (EA) functionality, custom indicators via MQL4, and robust backtesting capabilities. MT4 is specifically designed for forex trading — it does not support stocks, futures, or other asset classes natively. If you need multi-asset trading, consider MT5 instead. MT4's key strengths are its massive EA ecosystem (thousands of free and paid robots in the MQL5 Marketplace), low resource requirements, and near-universal broker support.
MT4 vs MT5: What's the Difference?
Many traders assume MT5 is simply a newer version of MT4, but the two platforms are fundamentally different. MT4 was built for forex; MT5 was built for multi-asset trading. MQL4 code does not run on MT5 and vice versa, so EAs and indicators are not interchangeable. The table below breaks down every key difference.
| Feature | MT4 | MT5 |
|---|---|---|
| Expert Advisors (EAs) | ||
| MQL Programming | MQL4 | MQL5 |
| Custom Indicators | ||
| Multi-asset Trading | ||
| Timeframes | 9 | 21 |
| Built-in Indicators | 30+ | 80+ |
| Depth of Market (DOM) | ||
| Economic Calendar | ||
| Strategy Tester | Basic | Advanced (multi-currency) |
| Order Execution | 4 modes | 4 modes + exchange |
| Hedging | ||
| Netting | ||
| EA Backward Compatibility | MQL4 only | MQL5 only (not compatible with MQL4) |
| Mobile App |
Brokers Offering MetaTrader 4 (19)
Min Deposit
$100
Spread
0.0 pips
Leverage
1:500
Also supports:
Min Deposit
$200
Spread
0.0 pips
Leverage
1:500
Also supports:
Min Deposit
$0
Spread
0.0 pips
Leverage
1:500
Also supports:
Min Deposit
$100
Spread
0.9 pips
Leverage
1:400
Also supports:
Risk Warning: Trading forex and CFDs involves significant risk. Leverage magnifies both gains and losses.