MT4 vs MT5 for Expert Advisors: which should you use?

By Benjamin Lee · Published 2026-10-11 · 1 min read

MetaTrader 4 and MetaTrader 5 look alike but are different platforms, and an EA built for one will not run on the other. This guide compares them for automated trading so you can pick the right one.

The EA file is different on each platform

MT4 EAs use the .ex4 format and MT5 EAs use .ex5. They are not interchangeable, so always buy the version that matches your terminal. A developer may publish both, but they are separate products.

Backtesting and optimisation

MT5's Strategy Tester supports multi-threaded optimisation, real-tick testing with broker data, and multi-currency testing. MT4's tester is simpler and uses modelled ticks unless you import tick data. If backtest depth matters to you, MT5 is stronger.

Account modes

MT4 accounts are hedging. MT5 accounts can be hedging or netting, depending on the broker. Some EAs need a hedging account, so check the account type before running one on MT5.

Timeframes, markets and speed

MT5 offers more timeframes, a built-in economic calendar, and access to stocks and futures with some brokers. MT4 is lighter and still widely supported, especially by older brokers and a large library of legacy EAs.

Which one should you choose?

Choose the platform your EA is built for. If you have a free choice, MT5 is the newer platform and receives active development. If your broker or strategy is MT4-only, stay on MT4.

Frequently asked questions

Can I run an MT4 EA on MT5?

No. The file formats and programming language versions differ, so the EA must be rewritten and compiled for MT5.

Is MT5 better than MT4?

MT5 has more features and a stronger tester. MT4 is simpler and still popular. The better one is the one your EA and broker support.

Can I use both at once?

Yes. You can run MT4 and MT5 on the same computer or VPS with separate installs and accounts.

Trading foreign exchange, gold and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtests and live results do not guarantee future returns. This guide is general education, not financial advice.

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