Lesson 5 of 8 · 6 min
Platforms: MT4, MT5 and cTrader
The three platforms most brokers offer, what actually differs between them, and how to choose without being swayed by a feature list.
By the end you'll be able to
- Describe the main differences between MT4, MT5 and cTrader
- Match platform features to the kind of trading you plan to do
- Explain why the platform matters less than the broker behind it
Free course
Enrol in “Choosing a Broker” to start this lesson
Enrolling is free. Your progress, quiz scores and certificate are kept in your account, on every device.
- 8 short lessons with quizzes and interactive tools
- Lesson videos for members
- A certificate when you finish
The platform is the window you look through all day. It should be clear and reliable. Beyond that, most of the feature comparison matters far less than brokers suggest.
The three you will meet
| Since 2005; still the most widely offered | Since 2010; the successor, now standard | Since 2011; popular with ECN brokers | |
| 9 | 21 | 26 plus custom | |
| Market, limit, stop | Adds stop-limit | Adds stop-limit and advanced protection | |
| No | Yes (where the broker provides it) | Yes, built in | |
| Expert Advisors (MQL4) | Expert Advisors (MQL5) | cBots (C#) | |
| Single pair, basic | Multi-pair, faster | Multi-pair, visual | |
| Functional, dated | Improved | Modern, detachable charts | |
| Yes | Depends on account mode | Yes |
Tap a feature name to see why it matters, or a platform name to highlight its column.
General characteristics of each platform; brokers configure them differently. Tap a row to see why the feature matters.
MetaTrader 4 is old, simple and everywhere. If you want the largest library of free indicators and tutorials, it is still the answer. MetaTrader 5 is its successor: more timeframes, more order types, better testing, and now the default at most brokers. cTrader is the usual alternative, favoured by ECN brokers for its charting and built-in market depth.
All three are offered free by the broker. All three run on desktop, web and mobile.
What actually matters
For a discretionary trader following the methods in this academy, the needs are modest: clear candlestick charts, drawing tools for levels, pending orders with stop and target attached, and a mobile app that can close a trade in an emergency. All three platforms do this well.
The differences start to matter when you automate, backtest seriously, or need depth of market. Choose for those reasons, if you have them; otherwise choose the one whose charts you find easiest to read.
Notice how the feature matrix above lists more differences than most traders will ever use. Tap the rows that match your plan and ignore the rest.
Quick check
Question 1 of 3
Which platform has the largest library of free indicators and community tools?
Question 2 of 3
Depth of market is most useful for:
Question 3 of 3
In what order should platform choice come?
Go deeper: MT4 vs MT5: which MetaTrader should you use? · cTrader vs MT4 and MT5: A Side-by-Side Platform Comparison