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MT5 is the newer and more capable platform, with multi-asset support, more timeframes and a built-in economic calendar, while MT4 keeps the larger expert-advisor library and a simpler interface. A UK trader who relies on a specific legacy EA usually stays on MT4; one who wants multi-asset charting and faster backtesting moves to MT5.
Summary
MT5 is the stronger choice for most UK traders: multi-asset support, depth of market, twenty-one timeframes and a faster multi-thread strategy tester. MT4 still wins if your workflow depends on a particular legacy expert advisor or indicator. Both come from MetaQuotes, and the head-to-head table below settles the rest.
Watch: our best MetaTrader 5 (MT5) brokers overview. This video covers how to pick an MT5 broker, not a direct MT4 vs MT5 platform comparison.
Jump to Head-to-head table · Where MT5 wins · Where MT4 wins · Which to choose · Broker availability · FAQs
Quick comparison: MT4 vs MT5 head-to-head
The table sets out the practical differences. Most rows favour MT5 on capability, but the EA library and default hedging keep MT4 relevant.
| Feature | MT4 | MT5 | Edge |
|---|---|---|---|
| Year released | 2005 | 2010 | MT5 (newer codebase) |
| Programming language | MQL4 (procedural) | MQL5 (object-oriented) | Depends |
| Expert-advisor library | Very large (two decades of code) | Smaller, growing | MT4 |
| Asset-class design | Forex-first, CFDs added | Multi-asset native | MT5 |
| Timeframes | 9 | 21 | MT5 |
| Depth of market | No | Yes | MT5 |
| Strategy tester | Single-thread, single-pair | Multi-thread, multi-pair | MT5 |
| Built-in economic calendar | No | Yes | MT5 |
| Hedging | Yes, by default | Broker-dependent | MT4 |
| New broker licences | Mostly closed since 2018 | Open | MT5 |
Feature set is per MetaQuotes’ published platform documentation, and broker availability is per each firm’s UK pages. Hedging on MT5 is account-type dependent, so confirm the setting with the broker before assuming it.
Where MT5 clearly wins
MT5 was built for more than forex, and that shows in daily use. Multi-asset trading, the twenty-one timeframes, native depth of market and the multi-thread strategy tester all give a UK CFD trader more to work with than MT4 offers. The built-in economic calendar puts data releases inside the platform rather than in a separate tab, which matters when a number moves the market you are in. The best MT5 broker UK page ranks the FCA-regulated brokers that offer the platform on raw accounts.
Where MT4 still wins
Two things keep traders on MT4. The expert-advisor and indicator library is far deeper, so a strategy written for a specific MT4 tool may have no MT5 equivalent. Hedging is also on by default, while MT5 makes it broker-dependent, so a trader who runs opposing positions on the same instrument finds MT4 simpler. The platform is lighter and quicker to learn, which suits a trader who only needs charting and order entry. If that describes you, the best MT4 broker UK page ranks the FCA-regulated brokers that still support it.
Which should a UK trader choose?
Pick MT4 if your workflow depends on a particular legacy expert advisor or indicator, or you want the simplest path to charting and order entry. Choose MT5 if you trade multiple asset classes, want depth of market and the built-in calendar, or run backtests that benefit from the faster multi-thread tester. One practical nudge: MetaQuotes has largely stopped issuing new MT4 licences since 2018, so newer UK brokers tend to launch on MT5, and the long-term momentum is with the newer platform.
Which UK broker for MT4 or MT5
The platform question usually ends as a broker question, since not every FCA-regulated broker runs both. The four brokers below do, and each links to its full review. Every FCA entity and Firm Reference Number was checked on the FCA register on 10 July 2026.
| Broker | FCA entity (FRN) | MT4 | MT5 | Best for |
|---|---|---|---|---|
 Pepperstone | Pepperstone Limited (FCA FRN 684312) | Yes | Yes | Running both platforms on one Razor raw account |
 FxPro | FxPro UK Limited (FCA FRN 509956) | Yes | Yes | NDD execution on either platform |
 ThinkMarkets | TF Global Markets (UK) Limited (FCA FRN 629628) | Yes | Yes | Raw ThinkZero pricing on either platform |
 Eightcap | Eightcap Group Ltd (FCA FRN 921296) | Yes | Yes | Multi-asset MT5 on a raw account |
One absence to note: XTB removed MT4 from its UK offer in March 2024 and now runs its own xStation platform only, so it no longer belongs in a MetaTrader comparison.
FAQs
Is MT5 better than MT4?
Can I use the same expert advisor on MT4 and MT5?
Which platform do most UK brokers offer?
Can I run MT4 and MT5 at the same broker?
Is MT4 being discontinued?
Is MT5 free for UK traders?
Will my MT4 expert advisor work on MT5?
Related pages
About the author
Justin Grossbard is the co-founder and head of research at CompareForexBrokers. He has traded forex since 1998, leads UK broker research and has personally reviewed every FCA-regulated broker on this site. His work has appeared in Forbes, Kiplinger and Finance Magnates, and he holds a Bachelor of Commerce (Honours) and a Master's in Marketing.