MetaTrader 4 and MetaTrader 5 were both developed by MetaQuotes, a Software Corporation. MetaTrader 4 was the first trading platform developed in 2005, and MT5 is an upgraded version developed in 2010.
MetaTrader 5 is an all-in-one platform for trading Forex, Stocks, and Futures. It is a multi-asset platform offering outstanding technical analysis tools, as well as automated trading systems (trading robots) and copy trading.
MetaTrader 4 (MT4) can be used to trade a range of markets, including forex, indices, cryptocurrencies, and commodities, via CFDs. MT4 is extremely popular since it is highly customizable to your individual trading preferences. It can also be used to automate your trading, using algorithms that open and close trades on your behalf according to a list of set parameters.
While MT5 certainly boasts a number of new features and may appeal to some traders, others may prefer the straightforward nature of MT4.
If you’re new to trading or are simply interested in trading forex, MT4 is an obvious choice. If you’re more advanced and find use in the additional tools offered in MT5, nevertheless, this platform is certainly worth considering.