MT4 vs MT5 vs cTrader: what actually differs between them
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- MetaTrader 4 is the older platform and the one with by far the largest library of third-party indicators and expert advisors, which is why it persists despite MetaQuotes no longer actively developing it.
- MetaTrader 5 adds more order types, more timeframes, an economic calendar and a built-in strategy tester with more granular history, but its EA language (MQL5) is not backward-compatible with MT4's MQL4.
- cTrader is built around depth-of-market visibility and a different execution model, and is the platform most associated with ECN-style pricing rather than dealing-desk quotes.
- Netting versus hedging is a real functional difference, not a preference: MT5 defaults to netting on many accounts while MT4 and cTrader default to hedging, which changes how multiple positions on the same symbol behave.
- Not every broker supports every platform, and some restrict certain platforms to specific account types — check the specific account, not just the broker name.
Platform comparisons online mostly repeat the same adjectives — "modern," "powerful," "beginner-friendly" — without saying what actually changes when you place a trade. This one sticks to functional differences: order types, testing tools, position handling and availability.
Why MT4 still exists
MetaTrader 4 launched in 2005 and MetaQuotes has not meaningfully developed it since MT5's release, yet it remains the most widely offered platform in the industry. The reason is its ecosystem: a vast library of third-party expert advisors, indicators and signal services built up over two decades, most of which were never ported to MT5's different programming language. For a trader relying on a specific existing EA, that ecosystem can matter more than any feature MT5 adds.
- MT4's script language is MQL4; MT5's is MQL5 — the two are not directly compatible.
- MT4 offers fewer built-in order types and timeframes than MT5.
- MT4's strategy tester is single-threaded and slower than MT5's for large backtests.
What MT5 actually adds
MT5 is a broader platform: more pending order types, more built-in timeframes, an embedded economic calendar, a Depth of Market panel where the broker supports it, and a multi-threaded strategy tester that runs backtests faster and with more granular tick history. Some brokers also route MT5 accounts through netting by default, which changes how the platform displays and manages multiple trades on the same instrument.
- More pending order types than MT4, including stop-limit orders.
- A built-in economic calendar and a wider default set of timeframes.
- Faster, multi-threaded backtesting with more granular historical data where the broker provides it.
cTrader's different model
cTrader was built by Spotware rather than MetaQuotes and takes a different approach from the outset. Its Depth of Market panel is generally more prominent than either MetaTrader platform's, and it is the platform most brokers pair with ECN-style, no-dealing-desk execution and volume-based commission rather than pure spread. cTrader uses its own scripting language, cAlgo, so existing MT4 or MT5 EAs do not carry over.
Netting vs hedging: the difference that actually changes your trading
This is a functional difference, not cosmetic. On a hedging account, you can hold a long and a short position on the same symbol simultaneously, each tracked separately. On a netting account, opposing trades on the same symbol are combined into a single net position. MT4 and cTrader are generally hedging by default; MT5 accounts are frequently netting, though this depends on the broker and jurisdiction. Confirm which model your specific account uses before assuming a hedging strategy will behave as expected.
Availability is broker-specific
Not every broker offers all three platforms, and some restrict a given platform to specific account types — a Raw or ECN account might support cTrader while a Standard account does not, for instance. The platform column on our broker pages reflects what each broker actually publishes; always confirm on the specific account type you intend to open.
Is MT5 better than MT4?
MT5 has more order types, more timeframes, a built-in economic calendar and faster backtesting. MT4 remains relevant mainly because of its far larger library of existing third-party EAs and indicators, which do not carry over to MT5's different scripting language. "Better" depends on whether that ecosystem matters to your strategy.
Can I use my MT4 expert advisor on MT5?
Not directly. MT4 uses MQL4 and MT5 uses MQL5 — the languages are not compatible, so an EA has to be rewritten or reconverted to run on the other platform.
What is the difference between netting and hedging accounts?
On a hedging account you can hold simultaneous long and short positions on the same symbol, tracked separately. On a netting account, opposing trades on the same symbol combine into one net position. MT4 and cTrader are typically hedging by default; MT5 is frequently netting, depending on broker and jurisdiction.
Why do some brokers only offer cTrader on certain accounts?
Platform licensing and infrastructure costs mean brokers often pair cTrader with their ECN-style, commission-based accounts rather than offering it across every account type. Always check platform availability on the specific account you plan to open.