If you've been exploring trading platforms, you've probably seen both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) mentioned. They sound similar — and they are, in some ways — but there are important differences that matter, especially if you're just getting started.
A Quick Overview: MT4 and MT5
Both MT4 and MT5 are trading platforms developed by MetaQuotes Software. MT4 launched in 2005 and quickly became the go-to platform for forex traders. MT5 came later in 2010 and was built as a more advanced, multi-asset platform — not just an upgrade of MT4, but a broader tool designed for the modern markets.
At Skilling, you can now access MT5 as part of the broker's four-platform ecosystem, alongside Skilling Trader, cTrader, and TradingView.
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Access a plethora of trading opportunities across the financial markets.
Key Differences Between MT4 and MT5
1. Markets You Can Trade
MT4 was built primarily with forex trading in mind. MT5, on the other hand, is a true multi-asset platform. On Skilling MT5, you can trade CFDs on:
- 47 forex pairs
- Metals, energies, and soft commodities
- Major global indices
- 32 cryptocurrencies
For traders who want to explore different markets as they learn, MT5 gives you more room to grow.
2. Number of Timeframes
MT4 offers 9 chart timeframes. MT5 doubles this — offering 21 timeframes. More timeframes means more flexibility in how you analyse price movements, from ultra-short 1-minute charts to long-term monthly views.
3. Built-In Indicators
MT4 comes with 30 built-in technical indicators. MT5 includes over 80. As a trader, this means you have access to more analytical tools from the moment you open the platform — without needing to download extras.
4. Order Types
MT4 supports 4 pending order types. MT5 supports 6, giving you more precise control over when and how your trades are executed. This is particularly useful as you advance beyond simple market orders.
5. Strategy Testing
MT5 has a significantly faster and more advanced strategy tester than MT4. If you ever want to test a trading idea before putting real money behind it, MT5 makes this process quicker and more accurate.
6. Built-In Economic Calendar
MT5 includes a real-time economic calendar directly inside the platform. MT4 does not have this natively. For beginners who want to stay aware of important market events — like interest rate decisions or jobs reports — this is a genuinely useful built-in feature.
What Stays the Same?
Both platforms share a familiar look and feel. If you've ever used MT4, MT5 will feel intuitive. Key shared features include:
- One-click trading
- Customisable charting interface
- Mobile apps for iOS and Android
- Desktop and web browser access
- Support for automated trading tools
Which Platform Should You Choose?
For anyone starting fresh, MT5 has the following advantages
- More markets to trade as you develop your skills
- More indicators and timeframes to learn from
- Better built-in tools like the economic calendar
- Faster and more capable strategy testing
- Actively developed and updated by MetaQuotes
MT4 is still a solid platform, but it's the older generation. MT5 is where the industry is heading — and learning on it from the start means you won't have to switch later.
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MT5 on Skilling: What You Get
When you open an MT5 account on Skilling, you get access to all of MT5's capabilities — backed by Skilling's regulated infrastructure, competitive spreads, and multilingual customer support.
You can open an MT5 account directly from your Skilling client portal, and the platform is available free of charge.
Final Thoughts
MT4 and MT5 are both trusted platforms, but MT5 is the more powerful and future-ready option — especially for traders who want a platform they can grow with. With Skilling's MT5 integration now live, traders can take advantage of MT5's broader range of tools and features.
