MT5 vs MT4: what actually changes for a trader

Q: What is the practical difference between MT5 and MT4?

Both are MetaQuotes terminals. MT4 (MetaTrader 4) still runs many legacy FX desks. MT5 (MetaTrader 5) is the current line for new builds, stocks/futures at some brokers, and MQL5. Practical gaps traders hit: Topic MT4 MT5 Compiled EA .ex4 .ex5 Language MQL4 MQL5 Timeframes 9 built-in More built-in (including 2m, 6h, and others) Tester Older single-symbol flow Multi-thread; can use every tick based on real ticks when the broker provides ticks Positions Hedging (typical FX) Hedging or netting — br

Q: Can you run an MT4 Expert Advisor on MT5?

No. Dropping an .ex4 into MT5’s Experts folder will not list it under Expert Advisors. You would need a rewrite in MQL5 and a new compile to .ex5. Indicators do not convert automatically either. If a file is missing from Navigator, it is often the wrong folder or the wrong extension: EA not showing / AutoTrading.

Q: Which platform does Aiobot support?

MetaTrader 5 only. The public file is aiobot.ex5. There is no MT4 build and no .ex4. Copy steps: install Aiobot on MT5. Aiobot does not rank brokers and does not claim MT5 improves results.

By Aiobot · Oct 6, 2026

MT4 and MT5 are different terminals from MetaQuotes. Files, language, and tester are not interchangeable: .ex4 stays on MT4; .ex5 stays on MT5. MT5 adds more timeframes, a multi-thread tester that can use real ticks, and netting or hedging depending on the broker. MT4 remains common at some desks because of old EAs and habit. Neither platform is “more profitable”. Aiobot is a MetaTrader 5 Expert Advisor only — there is no MT4 build. Install and AutoTrading failures are separate pages.

MetaTrader 5 and MetaTrader 4 terminals side by side

What is the practical difference between MT5 and MT4?

Both are MetaQuotes terminals. MT4 (MetaTrader 4) still runs many legacy FX desks. MT5 (MetaTrader 5) is the current line for new builds, stocks/futures at some brokers, and MQL5.

Practical gaps traders hit:

Topic	MT4	MT5
Compiled EA	`.ex4`	`.ex5`
Language	MQL4	MQL5
Timeframes	9 built-in	More built-in (including 2m, 6h, and others)
Tester	Older single-symbol flow	Multi-thread; can use every tick based on real ticks when the broker provides ticks
Positions	Hedging (typical FX)	Hedging or netting — broker setting, not a slogan

A fuller definition of what an EA is: what is an Expert Advisor.

This is not a “MT5 is better therefore you make money” article.

Can you run an MT4 Expert Advisor on MT5?

No. Dropping an .ex4 into MT5’s Experts folder will not list it under Expert Advisors. You would need a rewrite in MQL5 and a new compile to .ex5. Indicators do not convert automatically either.

If a file is missing from Navigator, it is often the wrong folder or the wrong extension: EA not showing / AutoTrading.

Why do some brokers still offer MT4?

Old EAs, old muscle memory, and some introducing brokers never migrated. Liquidity and spreads are a broker choice, not a platform religion. Pick the terminal that matches the file you actually run.

Which platform does Aiobot support?

MetaTrader 5 only. The public file is aiobot.ex5. There is no MT4 build and no .ex4. Copy steps: install Aiobot on MT5.

Aiobot does not rank brokers and does not claim MT5 improves results.