MetaTrader 4 and MetaTrader 5 are both widely used for trade copying, but they have important differences. This guide helps you choose the right platform.
MT4 vs MT5: Overview
| Feature | MT4 | MT5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Market Focus | Forex | Multi-asset |
| Order Types | 4 | 6 |
| Timeframes | 9 | 21 |
| Pending Orders | 4 types | 6 types |
| Hedging | ✓ | ✓ (optional) |
| Netting | ✗ | ✓ |
Trade Copying Differences
Position Identification
MT4: Uses 'Magic Number' to identify positions from different EAs/copiers. Simple but can conflict if multiple EAs use the same number.
MT5: Uses 'Position ID' system. More robust identification but requires copiers designed for MT5.
Order Execution
MT4: Instant and Market execution. Simpler but fewer options.
MT5: Exchange execution added. Better for stocks/futures but same for forex.
Partial Close
MT4: Partial close creates a new ticket number. Copiers must track relationships.
MT5: Partial close maintains the same position ID. Cleaner for copy trading.
Which Platform Do Brokers Prefer?
MT4 Dominant
- Most forex brokers still support MT4
- More EAs and indicators available
- Traders are familiar with it
MT5 Growing
- Required for stocks/futures trading
- Some new brokers only offer MT5
- Prop firms increasingly use MT5
Cross-Platform Copying
Can you copy trades from MT4 to MT5 or vice versa? Yes, with the right copier.
Social Trade Hub supports:
- MT4 → MT4
- MT5 → MT5
- MT4 → MT5
- MT5 → MT4
- Both → cTrader, TradeLocker, etc.
Which Should You Choose for Copy Trading?
Choose MT4 if:
- Your broker only offers MT4
- You use legacy EAs that only work on MT4
- You prefer simplicity
- You only trade forex
Choose MT5 if:
- You trade multiple asset classes
- Your prop firm requires MT5
- You want more advanced order types
- You're starting fresh (MT5 is the future)
Best Practice: Use Both
With a multi-platform copier like Social Trade Hub, you can:
- Trade on your preferred platform
- Copy to accounts on any platform
- Not be limited by broker platform availability
Performance Comparison
In terms of copy trading performance:
- Execution speed: Nearly identical
- Reliability: Both stable
- Slippage: Depends on broker, not platform
Conclusion
For pure forex trading, MT4 and MT5 perform similarly for copy trading. MT5 offers more features and is more future-proof. The best solution is a copier that works with both.