What the platform developer documents
MetaQuotes’ comparison lists 21 chart timeframes in MT5 and nine in MT4, six versus four pending-order types, and a more extensive strategy tester in MT5. It also lists broader supported markets in MT5. These are software capabilities; your broker still chooses which instruments and account configurations it makes available.
Existing tools can decide the choice
Inventory your indicators, scripts and expert advisors before changing platforms. Ask the developer which version each tool supports and test it on the target broker’s demo. Check symbol naming, contract size, tick values, trading hours and order rules. A successful backtest is not a guarantee of future performance or live fill quality.
Compare account costs separately
Two MetaTrader accounts can have different spreads, commissions and financing rates. Request the schedule for the exact platform/account combination and enter the values into the cost calculator. Verify whether commission is charged per side or for the round trip, and whether small trades are rounded or subject to minimums.
A practical selection exercise
Run the same task on each candidate: find an instrument, open its specification, place a simulated order, adjust the stop, close it and export the history. Keep notes on errors and missing features. Select the workflow you can reliably operate; a newer interface does not remove leveraged-trading risk.
Sources and checks
- MetaQuotes: platform comparison ↗Primary source · 20 September 2026
- Pepperstone: platform-specific commissions ↗Primary source · 20 September 2026