MetaTrader 5 is MetaQuotes' newer platform, launched in 2010 and actively developed. It is not backward-compatible with MT4 — EAs and indicators must be rewritten for MQL5 — which slowed adoption. MT5 supports 21 timeframes, depth-of-market data, hedging and netting modes, economic calendar integration, and trades stocks, futures, and crypto alongside forex.
MT5 is the better technical choice for most traders starting fresh in 2026, but the installed base of MT4-compatible indicators and strategies keeps MT4 alive. If you are buying an expert advisor or subscribing to a signal provider, check which platform it was built for before committing.