- MT5 offers 21 timeframes compared to MT4's 9, giving traders much finer control over chart analysis
- The built-in economic calendar eliminates the need for third-party news tools
- MT5 supports hedging and netting modes, letting you choose the position management style you prefer
- MT5 is the better choice if you trade multiple asset classes beyond forex
Last updated:
What is MetaTrader 5?#
MetaTrader 5 (MT5) is the successor to MT4, released by MetaQuotes in 2010. While MT4 was built specifically for forex trading, MT5 was designed as a multi-asset platform — capable of trading forex, stocks, commodities, futures, and cryptocurrencies all from a single terminal.
MT5 retains everything that made MT4 great while adding significant improvements: more timeframes, better order types, built-in economic calendar, a depth of market (DOM) feature, and much more advanced backtesting capabilities.
MT5 is the better choice if you:
- Want to trade multiple asset classes beyond forex
- Need more timeframes and technical tools
- Prefer a more modern interface with built-in news/calendar
- Are interested in algorithmic trading with more sophisticated tools
Key New Features#
MT5 introduces several features not available in MT4:
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | 9 | 21 |
| Order types | 4 | 6 |
| Pending order types | 4 | 6 |
| Built-in economic calendar | ❌ | ✅ |
| Built-in news feed | ❌ | ✅ |
| Depth of Market (DOM) | ❌ | ✅ |
| Built-in chat | ❌ | ✅ |
| Strategy tester passes | Single | Multi-currency, multi-symbol |
| Asset classes | Forex/CFDs | Forex, Stocks, Futures, Crypto |
| Netting/Hedging | Hedging | Both modes |
21 Timeframes#
One of MT5's standout improvements is the expansion from 9 to 21 timeframes:
MT5 Available Timeframes:
- Minutes: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30
- Hours: H1, H2, H3, H4, H6, H8, H12
- Higher: D1, W1, MN (Monthly)
The additional timeframes (M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, H12) allow traders to:
- Build custom chart structures for specific strategies
- Get more granular views without switching platforms
- Better identify entry points on non-standard timeframes
Hedging in MT5#
MT5 offers two position accounting modes:
Netting mode: Only one position per symbol is allowed. If you have a Buy EUR/USD open and you sell EUR/USD, it reduces or closes your existing buy. Used in futures/stock markets.
Hedging mode: Multiple positions in the same direction or opposite direction are allowed simultaneously. You can hold both a Buy and a Sell on EUR/USD at the same time.
Economic Calendar and News#
Built-in Economic Calendar: MT5 includes a real-time economic calendar directly in the platform. You can:
- View all upcoming high, medium, and low impact events
- Filter by country, impact level, or time
- See consensus forecasts vs actual results
- Click any event to see historical data
This eliminates the need to have a separate browser tab open for your economic calendar.
Built-in News: MT5's news section aggregates financial news from multiple providers in real time. You can:
- Read news without leaving the platform
- Filter by currency or instrument
- Set up news alerts
Multi-Asset Trading#
MT5's biggest advantage is its multi-asset capabilities:
Asset classes available in MT5 (on XM):
- Forex: 50+ currency pairs
- Metals: Gold, Silver, Platinum, Palladium
- Energies: Crude Oil (WTI & Brent), Natural Gas
- Stock Indices: SP500, NASDAQ, DAX30, FTSE100, Nikkei225
- Individual Stocks (CFDs): Apple, Amazon, Tesla, Google, Facebook, and 100+ more
- Cryptocurrencies (CFDs): Bitcoin, Ethereum, Litecoin, Ripple
The more modern architecture of MT5 also means faster order execution, improved backtesting with tick data, and a more responsive interface. For traders who want the most capable, future-proof platform, MT5 is the superior choice.
