When a trader steps into the world of automated trading and signal copying, they face an inevitable question: Which platform should I choose? MetaTrader 4 (MT4) or MetaTrader 5 (MT5)?
While MT4 is the older and more widely recognized platform, MT5 is not just a cosmetic “upgrade.” It is an entirely different platform built from scratch to meet modern trading demands. In this guide, we’ll analyze both platforms through the lens of Auto Trading and Proprietary Trading Firms (Prop Firms).
Quick Overview: MT4 vs MT5
MT4 was launched in 2005 and was designed exclusively for forex trading. MT5 was introduced in 2010 as a true multi-asset platform capable of trading forex, stocks, and futures seamlessly.
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Architecture | 32-bit (Relatively slower processing) | 64-bit (Ultra-fast, multi-threaded) |
| Automated Execution | Good for traditional EAs | Ideal for HFT (High-Frequency Trading) |
| Pending Order Types | 4 Types | 6 Types |
| Prop Firm Compatibility | Supported, but slowly phasing out | Highly preferred by modern firms |
Why Does MT5 Dominate in Automated Copy Trading?
If you are using a tool like the TV2Broker Signal Copier, the performance of the tool is heavily tied to the platform’s environment. Here is why experts prefer MT5:
- Ultra-Fast Execution (Low Latency): Thanks to its advanced 64-bit architecture, MT5 processes trade orders in milliseconds. This significantly reduces price slippage compared to MT4.
- High-Frequency Trading (HFT): Prop firms that allow HFT accounts require platforms capable of processing thousands of orders in seconds, and this is where MT5 truly shines.
- Partial Closures: MT5 possesses a superior internal system for handling partial trade closures (e.g., closing half the lot size at Target 1), which is vital for strict risk management.
What About Prop Firms? Which Do They Prefer?
Recently, many prop firms have started to gradually drop MT4 support or offer much better trading conditions on MT5 (like tighter spreads and lower commissions). The reason is that MT5 servers provide the firms with better server-side protection, deeper liquidity pooling, and tighter control over connected accounts.
Our Advice: If you are planning to purchase a new prop firm challenge, always select an MT5 account to ensure future compatibility and guarantee that your platform responds instantly to your automated copy software.
TV2Broker’s Support for Both Platforms
At TV2Broker, we understand that some traders still prefer MT4 out of habit, or because their specific broker still primarily supports it. Therefore, we developed our solutions to be fully compatible with both:
- Cloud Copier: Supports connecting MT4 and MT5 accounts side-by-side. You can copy a trade from a master MT4 account to a slave MT5 account seamlessly without any manual intervention.
- Expert Advisors (EAs): We provide dedicated versions coded in the latest MQL4 and MQL5 languages to ensure our risk management and lot calculation algorithms perform perfectly on either platform.
Conclusion: Which Should You Choose?
If you are looking for absolute simplicity and only use traditional manual trading tools, MT4 might suffice. However, if you rely on automated trading, professional signal copying, and aim to pass prop firm challenges with zero-latency execution, MT5 is the future and unequivocally your best choice.
Frequently Asked Questions
Is MT5 better than MT4 for automated trading?
Yes, MT5 is significantly better for automated trading because it utilizes a 64-bit architecture, making it much faster at executing orders and processing multi-threaded data.
Which platform do Prop Firms prefer?
Most modern Prop Firms are pushing traders toward MT5 because it offers better risk control for the firm and handles High-Frequency Trading (HFT) strategies more efficiently.
Does TV2Broker support copying on both platforms?
Absolutely. TV2Broker’s cloud copying systems and expert advisors fully support both MT4 and MT5, ensuring compatibility with any broker.