MT4 vs MT5: The Copy Trading Perspective
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the two most widely used trading platforms in the world. Despite MT5 being the newer platform with more features, MT4 continues to dominate forex trading due to its simplicity and universal broker support.
If you're setting up copy trading, understanding how these platforms differ — and how they work together — is essential for making the right choice.
MetaTrader 4 (MT4) — The Industry Standard
Released in 2005, MT4 has been the go-to platform for forex traders for nearly two decades. Here's why it remains popular:
- Universal broker support — Nearly every forex broker in the world offers MT4. You'll never struggle to find a compatible broker.
- Simple and battle-tested — MT4's architecture is straightforward and has been refined over 20+ years. It rarely crashes or behaves unexpectedly.
- Hedging by default — You can open multiple positions on the same symbol in any direction, making it ideal for strategies that scale in and out.
- Lightweight — MT4 uses fewer server resources per connection, which translates to faster trade execution in many cases.
- Massive EA library — Thousands of Expert Advisors (EAs) and custom indicators are built exclusively for MT4's MQL4 language.
MetaTrader 5 (MT5) — The Modern Upgrade
MT5 was built from the ground up as a multi-asset platform. While it took years to gain traction, many brokers now offer MT5 as their primary platform:
- Multi-asset trading — Trade forex, stocks, futures, options, and commodities all from one platform. MT4 is limited to forex and CFDs.
- Netting and hedging modes — Choose between netting (one position per symbol) or hedging (multiple positions) depending on your strategy and broker.
- 21 timeframes — Compare to MT4's 9 timeframes, giving you much more granular chart analysis.
- Superior backtesting — MT5's multi-threaded strategy tester runs backtests dramatically faster, with more accurate tick-by-tick modeling.
- Depth of Market (DOM) — Full order book visibility for advanced order management and scalping.
- Built-in economic calendar — Stay on top of high-impact news events directly within the platform.
Side-by-Side Comparison
| Feature | MT4 | MT5 |
|---|---|---|
| Asset classes | Forex, CFDs | Forex, stocks, futures, options, CFDs |
| Position management | Hedging only | Hedging + Netting |
| Timeframes | 9 | 21 |
| Programming language | MQL4 | MQL5 |
| Broker availability | Nearly universal | Growing rapidly |
| Strategy tester | Single-threaded | Multi-threaded |
| Order book (DOM) | No | Yes |
Copy Trading Between MT4 and MT5
Here's the good news: you don't have to choose just one. With ConnectXCopy's cross-platform copy trading, you can mix and match freely:
- MT4 master → MT5 slaves — Trade on MT4, automatically copy to your MT5 accounts
- MT5 master → MT4 slaves — Trade on MT5, automatically copy to your MT4 accounts
- Mixed slave accounts — Have both MT4 and MT5 slaves copying from a single master
- Cross-platform combinations — Even copy to cTrader, Tradovate, or DxTrade from either MetaTrader platform
How Symbol Mapping Works
Different brokers name the same instruments differently. For example, the EUR/USD currency pair might appear as:
EURUSDon one brokerEURUSDmon a micro account brokerEURUSD.rawon an ECN brokerEURUSDproon a pro account
ConnectXCopy's auto-mapping feature detects the base currency pair regardless of broker-specific suffixes and maps them automatically. For unusual names, you can set up manual symbol mappings.
Lot Size Across Platforms
Both MT4 and MT5 support standard lot sizes, but account sizes often differ between brokers. Use Balance Multiplier lot sizing to automatically scale trade sizes proportionally to each account's balance — so a $5,000 slave account gets exactly half the lot size of a $10,000 master.
Which Platform Should You Choose?
The short answer: whichever your preferred broker offers. With cross-platform copy trading, your choice of platform no longer limits which broker accounts you can connect.
If you're starting fresh and need a recommendation:
- Go with MT4 if you trade forex exclusively and want maximum broker compatibility with the largest EA ecosystem.
- Go with MT5 if you need multi-asset trading (stocks, futures), prefer more timeframes, or your broker only offers MT5.
- Use both if you have accounts at multiple brokers — ConnectXCopy handles cross-platform copying seamlessly, so you get the best of both worlds.
Getting Started with Cross-Platform Copying
Setting up MT4-to-MT5 copy trading takes less than 5 minutes:
- Add your MT4 account — Enter your login number, trading password, and select your broker's server.
- Add your MT5 account — Same process, different platform. Both appear in your account list.
- Create a copier — Select your MT4 account as master and MT5 as slave (or vice versa).
- Auto-configuration — The system automatically detects and maps matching symbols between platforms.
- Start copying — Activate the copier. Trades now replicate between platforms in under 200ms.