MetaTrader 5 (MT5)
Also known as: MetaTrader 5
What is it?
MetaTrader 5, usually written MT5, is the newer version of the MetaTrader trading platform, the software you install to chart prices and send orders to your broker. Where the older MT4 was built mainly for forex (currency trading), MT5 was designed to handle a wider world of markets, including shares, futures, and index CFDs, alongside currencies. It also uses a more powerful programming language called MQL5 for building Expert Advisors, the automated trading robots that run inside the platform. Two ideas matter most for a beginner.
First, MT5 can show depth of market, which is a live list of the buy and sell orders waiting at different prices, giving you a clearer view of supply and demand. Second, MT5 supports two account styles. A hedging account lets you hold a buy and a sell on the same instrument at once as separate trades, just like MT4. A netting account instead combines everything you hold on one instrument into a single net position, so a new buy and an existing sell partly cancel out rather than sitting side by side.
This account choice changes how automated strategies behave, so it is worth knowing which one you have. In short, choose MT5 when you want more than spot forex, need exchange-style data, or plan to build more advanced automation; it is the more flexible platform of the two.
Why it matters: MT5's broader instruments and account models make it the platform of choice where you trade beyond spot forex or need exchange data.
MT5's account model (netting vs hedging) changes how multiple trades on one symbol combine.
Real-world example
A trader uses MT5 to run an EA across forex and index CFDs on a netting account, with depth-of-market visible.
How SignalBots handles it
SignalBots' connector supports MT5 so signals execute across its wider instrument range and both account models.
Pro tip
Choose MT5 when you need stocks, futures, or netting; the richer MQL5 also makes more complex automation possible.
Common pitfalls
Porting an MT4 hedging EA to an MT5 netting account without adjusting position logic, which changes how trades net out.
Frequently asked questions
Should I switch from MT4 to MT5?
Switch if you need more asset classes, netting accounts, or depth of market. For plain forex with existing MT4 robots, there may be no urgency to move.
What is the difference between a hedging and a netting account on MT5?
Hedging lets you hold opposite trades on the same instrument at once as separate positions. Netting merges them into one net position, so a buy and a sell partly cancel each other out.
Can my MT4 Expert Advisor run on MT5?
No. MT5 uses the MQL5 language and a different order model, so an MT4 robot must be rebuilt or have a dedicated MT5 version. It will not simply load and run.
Is MT5 harder to use than MT4 for a beginner?
The basics of charting and placing trades are very similar. MT5 just exposes more instruments and options, which you can ignore until you need them, so the learning curve stays gentle.
Does SignalBots work with MT5?
Yes. The SignalBots connector supports MT5, so delivered signals can be executed across its wider range of instruments and on either the hedging or netting account model.