When choosing a trading platform with XM, one of the most common questions is: Should I use MetaTrader 4 (MT4) or MetaTrader 5 (MT5)?
Both platforms are developed by MetaQuotes and are fully supported by XM. While they may look similar at first glance, MT4 and MT5 offer different features, tools, and capabilities. Choosing the right one can significantly impact your trading experience.
In this article, we’ll compare MT4 vs MT5 on XM in terms of features, functionality, speed, usability, instruments supported, and suitability for different trader types.
🧭 Overview: What Are MT4 and MT5?
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MT4 (MetaTrader 4): Launched in 2005, MT4 is the most popular platform among Forex traders. It’s known for its simplicity, efficiency, and vast availability of custom indicators and Expert Advisors (EAs).
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MT5 (MetaTrader 5): Released in 2010, MT5 is the newer, more advanced version with additional features, better multi-asset support, and faster performance. It was built to cater to a broader range of financial instruments, including stocks, futures, and commodities.
Both are free to use with XM and available on Windows, Mac, WebTrader, Android, and iOS.
🔍 Core Differences Between MT4 and MT5 on XM
| Feature | MT4 | MT5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Supported Instruments | Forex, CFDs | Forex, CFDs, Stocks, Futures, Crypto |
| Order Types | 4 types | 6 types |
| Technical Indicators | 30 built-in | 38 built-in |
| Timeframes | 9 | 21 |
| Strategy Tester | Single-threaded | Multi-threaded + Real ticks |
| Pending Orders | 4 types | 6 types |
| Economic Calendar | No | Yes |
| Depth of Market (DOM) | No | Yes |
| Internal Mailing System | Yes (text only) | Yes (HTML supported) |
| Programming Language | MQL4 | MQL5 |
| One-Click Trading | Yes | Yes |
🛠️ Features of MT4 on XM
MetaTrader 4 is ideal for beginner to intermediate traders. Some of its core benefits include:
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Simple Interface: Clean and user-friendly layout for efficient trading.
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Expert Advisor (EA) Support: Thousands of automated trading systems are built for MT4.
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Low Resource Usage: Performs well even on older devices or slow connections.
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Large Community: Due to its age, MT4 has a massive ecosystem of tools, indicators, and forums.
Limitations:
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Limited in the number of instruments compared to MT5.
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Fewer charting tools and timeframes.
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Not ideal for stock traders or multi-asset investing.
🧰 Features of MT5 on XM
MetaTrader 5 was built to improve upon MT4’s limitations and cater to traders seeking broader access to markets and advanced analysis tools.
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More Timeframes and Indicators: 21 timeframes and 38 built-in indicators.
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Improved Order Management: More pending order types and faster execution.
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Economic Calendar: Built-in calendar with real-time macroeconomic data.
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Market Depth (DOM): See bid/ask volumes directly from the platform.
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Faster Backtesting: Multi-threaded strategy tester for EA optimization.
Best For:
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Traders who want to access stocks and futures alongside Forex.
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Scalpers and day traders who rely on advanced order types.
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Algorithmic traders who benefit from faster backtesting.
📱 XM Platform Availability
Both MT4 and MT5 are fully supported across devices:
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Desktop: Windows & macOS
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Mobile: Android & iOS
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WebTrader: Browser-based version (no download required)
XM provides fast execution and stable servers for both platforms, regardless of the version or device you use.
📊 What Can You Trade on MT4 vs MT5 at XM?
| Asset Class | MT4 | MT5 |
|---|---|---|
| Forex | ✅ | ✅ |
| Stock CFDs | ❌ | ✅ |
| Crypto CFDs | ✅ | ✅ |
| Commodity CFDs | ✅ | ✅ |
| Stock Indices | ✅ | ✅ |
| Shares (Real Stocks) | ❌ | ✅ (Shares account only) |
If you’re looking to trade real stocks or a wider range of CFDs, MT5 is the better choice.
⚙️ Programming: MQL4 vs MQL5
If you’re a developer or EA user:
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MT4 uses MQL4, which is simple but somewhat outdated.
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MT5 uses MQL5, which is more advanced, faster, and supports object-oriented programming.
MQL5 allows more accurate and efficient development of trading robots and custom indicators.
📥 Account Types for MT4 & MT5 at XM
XM supports both platforms on the following account types:
| Account Type | MT4 | MT5 |
|---|---|---|
| Micro | ✅ | ✅ |
| Standard | ✅ | ✅ |
| Ultra-Low | ✅ | ✅ |
| Shares | ❌ | ✅ |
If you’re only interested in trading Forex and CFDs, either platform works. However, if you’re looking for real stock trading, only MT5 via the Shares Account is supported.
🤔 Which Platform Should You Choose?
✔️ Choose MT4 If You:
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Are a beginner in trading
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Want a lightweight and stable platform
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Use existing MT4 EAs or indicators
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Only trade Forex and a few CFD instruments
✔️ Choose MT5 If You:
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Want to access stocks and other asset classes
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Use advanced trading strategies
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Need more technical indicators and timeframes
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Develop or run multi-threaded EAs
💡 Final Thoughts: MT4 vs MT5 at XM
Both MT4 and MT5 are reliable, fast, and well-integrated with XM’s trading infrastructure. If you’re a Forex-only trader, MT4 may be enough for your needs. But if you’re looking for diversification, modern features, and advanced analysis tools, then MT5 is the clear winner.
The good news? XM allows you to open multiple accounts—so you can use both platforms simultaneously and choose the one that suits each strategy best.