Business news

A Comparative Review of the MetaTrader 4 and 5 Trading Apps

MetaTrader 4

MetaTrader, developed by MetaQuotes Software, has been a leading platform for online trading for two decades. It offers two popular mobile trading apps: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

In this blog post, we will delve into the pros and cons of both mobile trading apps to help you make an informed decision about which platform suits your trading needs. Once you’re ready to trade, compare MetaTrader 4 and 5 brokers on

MetaTrader 4 (MT4) Mobile App


  • User-Friendly Interface: MT4’s mobile app features a user-friendly interface that is easy to navigate. Traders of all experience levels, from beginners to experts, can quickly adapt to its layout and functionalities.
  • Wide Range of Technical Analysis Tools: MT4 provides an extensive collection of technical indicators, charting tools, and customizable settings. Traders can perform in-depth technical analysis and implement various trading strategies.
  • Automated Trading through Expert Advisors (EAs): MT4’s mobile app allows users to access and use Expert Advisors (EAs), automated trading programs that execute trades based on predefined rules. This feature is key to enabling algorithmic trading.


  • Limited Asset Classes: MT4 primarily focuses on Forex trading, and while it offers some options for other asset classes like stocks and commodities, the selection is comparatively limited, especially in comparison with MetaTrader 5.
  • Lack of Depth-of-Market (DOM) Information: MT4’s mobile app does not provide Depth-of-Market (DOM) data, which can be a disadvantage for traders who rely on this information for their trading decisions. Some traders use that information to predict the direction of short-term changes in prices.
  • Outdated Design: MT4’s mobile app can feel slightly outdated compared to newer trading platforms, as it was launched back in 2005. However, this does not affect its functionality or reliability.

MetaTrader 5 (MT5) Mobile App


  • Wide Range of Asset Classes: Unlike its predecessor, MT5 offers a broader range of tradable instruments, including Forex, stocks, commodities, cryptocurrencies, futures and options. This expanded asset coverage allows traders to diversify their portfolios from a single platform.
  • Enhanced Technical Analysis Tools: MT5’s mobile app provides an upgraded set of technical analysis tools, surpassing MT4 in terms of depth and sophistication. Traders can access a wider range of technical indicators, graphical objects, and time intervals for their charts.
  • Built-In Economic Calendar and News: MT5’s mobile app integrates an economic calendar and real-time news updates. This feature enables traders to stay updated with important economic events and news releases, making informed trading decisions.


  • Learning Curve: MT5 has a steeper learning curve compared to MT4, particularly for novice traders. The expanded functionalities and more advanced features may take some time to master.
  • Limited Availability of Custom Indicators and EAs: While MT5 offers a rich selection of built-in technical indicators and EAs, it has fewer Expert Advisors than MetaTrader 4. Traders who heavily rely on specific custom tools may find the transition to MT5 challenging.
  • Limited Compatibility with MT4: MT5’s mobile app is not backward compatible with MT4. This means that if you have existing indicators, EAs, or trading systems developed for MT4, they may not work on MT5 without modification or redevelopment. Instead, you will need to learn the programming language behind MetaTrader’s EAs from the ground up.


Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) mobile trading apps have their strengths and weaknesses. MT4 is renowned for its user-friendly interface and vast library of technical indicators, while MT5 offers an expanded range of asset classes and enhanced technical analysis tools.

The choice between the two ultimately depends on your trading preferences, asset class interests, and the level of sophistication you seek. However, if you are new to the platform, you may want to start with MT5, which has superior capabilities.

To Top

Pin It on Pinterest

Share This