The MT4 vs MT5 Debate
MT4 has been the industry standard for nearly two decades. MT5 is its successor with more features. The debate continues — but for copy trading specifically, the answer might surprise you: it doesn't matter as much as you think.
Platform Comparison
| Feature | MT4 | MT5 |
|---|---|---|
| Release year | 2005 | 2010 |
| Timeframes | 9 | 21 |
| Order types | 4 | 6 (+ Buy Stop Limit, Sell Stop Limit) |
| Pending orders | 4 types | 6 types |
| Programming language | MQL4 | MQL5 |
| Strategy tester | Single-threaded | Multi-threaded |
| Market depth | No | Yes |
| Economic calendar | No | Built-in |
| Broker availability | Declining | Growing |
| Prop firm support | Still common | Primary choice |
MT5's Technical Advantages
- More order types — Buy Stop Limit and Sell Stop Limit orders aren't available on MT4
- Better backtesting — Multi-threaded strategy tester is significantly faster
- More timeframes — 21 vs 9, useful for multi-timeframe analysis
- Active development — MetaQuotes is investing in MT5, not MT4
MT4's Remaining Advantages
- Larger EA library — Decades of MQL4 indicators and EAs available
- Simpler — Less complex for basic forex trading
- Hedging mode — MT4 natively supports hedging; MT5 defaults to netting (though most brokers enable hedging on MT5 now)
- Familiarity — Most traders learned on MT4
Why It Matters Less for Copy Trading
Here's the key insight: with a cross-platform trade copier like ConnectXCopy, your platform choice is no longer a constraint. You can:
- Trade on MT4 and copy to MT5 accounts
- Trade on MT5 and copy to MT4, cTrader, or any other platform
- Have clients on any platform — they all receive your trades regardless
The "MT4 vs MT5" decision used to lock you into an ecosystem. With cross-platform copying, you can use whichever platform you prefer on your master account, and your slaves can be on any platform at any broker.
Recommendation
If you're starting fresh: use MT5. It's the future, more brokers support it, and all prop firms offer it. If you're already on MT4 with a working strategy: there's no rush to switch. Use ConnectXCopy to bridge your MT4 master to MT5 slaves (or any other platform) without disrupting your trading.
The best platform is the one where you execute best. Let the copier handle the rest.