MetaTrader 5 (MT5) is a free, multi-asset trading platform developed by MetaQuotes Software. It is the successor to the hugely popular MetaTrader 4, and while it looks familiar, it is a broader platform built to trade not just forex but also stocks, futures and other centrally-traded instruments. This guide explains what MT5 is, what it does well, and how it differs from MT4.
Who makes MT5 and why it exists
MetaQuotes released MT5 in 2010, five years after MT4. The goal was to move beyond forex and CFDs into exchange-traded markets that need features MT4 was never designed for - such as a centralised order book (depth of market) and a wider set of order types. Brokers license the platform from MetaQuotes and connect it to their own liquidity, which is why you download one MT5 but log in with credentials from your specific broker.
Key features of MetaTrader 5
- More timeframes: 21 built-in chart timeframes versus MT4’s 9, giving finer control over analysis.
- More order types: including buy-stop-limit and sell-stop-limit orders not available in MT4.
- Depth of Market (DOM): a Level II view of buy and sell orders, useful for stocks and futures.
- Built-in economic calendar: high-impact news events appear directly on the platform.
- Multi-asset support: forex, stocks, futures, indices and more from one terminal.
- MQL5 and the strategy tester: a faster, multi-threaded environment for building and back-testing automated strategies (Expert Advisors).
MT5 vs MT4 in one line
MT4 is a focused, rock-solid forex platform with the largest ecosystem of third-party tools. MT5 is a more powerful, multi-asset platform with better charting and testing - but you can’t run MT4 indicators or EAs on it without rebuilding them. For a full breakdown, see our MT4 vs MT5 comparison.
Which markets and brokers support it
Most major brokers now offer MT5 alongside or instead of MT4, especially those providing share CFDs and futures. When you compare brokers in our broker reviews, the platforms each one supports are listed on every profile.
How to download MetaTrader 5
MT5 is available on every major device - Windows, macOS, Android, iOS and directly in a browser. See our MetaTrader 5 download page for the official links and step-by-step install guides for each system.
Risk note: A trading platform is only a tool. Trading forex and CFDs carries a high risk of losing money rapidly due to leverage. Practise on a demo account first and never risk more than you can afford to lose.
Key takeaways
- MetaTrader 5 is MetaQuotes’ free, multi-asset successor to MT4.
- It adds more timeframes, more order types, depth of market and a built-in economic calendar.
- It supports forex, stocks, futures and indices - not just forex and CFDs.
- MT5 is not backward-compatible with MT4 indicators or Expert Advisors.
- Download it for any device from the official download page.
Frequently asked questions
- Is MetaTrader 5 better than MetaTrader 4?
- MT5 is the more capable platform on paper - more timeframes, more order types, an economic calendar and native support for stocks and futures. But 'better' depends on your needs: many forex traders still prefer MT4 because their broker, indicators or Expert Advisors are built for it. If you trade multiple asset classes or want depth-of-market data, MT5 has the edge.
- Is MetaTrader 5 free to download?
- Yes. MetaTrader 5 is free to download from MetaQuotes and from brokers that offer it. You only need a trading account (live or demo) with a broker to log in and use it. FinPip links only to the official MetaQuotes source.
- Can I use MetaTrader 5 on my phone?
- Yes. MT5 has full-featured apps for both Android and iOS, plus desktop versions for Windows and macOS and a browser-based web terminal. Your account and charts sync across devices.
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