GLOSSARY · METATRADER
What is MetaTrader 4?
MetaTrader 4 is the older MetaQuotes platform, still widely used for forex despite being superseded, with its own EA language and a much larger legacy library of robots.
Also called: MT4
What it means
Released in 2005, MT4 remains popular largely because of inertia and the enormous existing library of indicators and EAs written for it. MetaQuotes stopped meaningful development years ago and no longer licenses it to new brokers.
Why it matters
Technically it is more limited: fewer timeframes, no depth of market, a weaker single-threaded strategy tester and no native support for exchange-traded instruments. Its backtesting in particular is known to produce optimistic results relative to MT5's multi-threaded, real-tick tester.
What this changes in practice
For a new automated system there is no good reason to choose MT4, and our engine targets MT5 only. Traders arriving from MT4 should expect the account model difference to matter most — MT5 defaults to netting on many brokers where MT4 was always hedging, which changes how multiple positions on one symbol behave.
Related terms
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- Expert AdvisorAn Expert Advisor is a program that runs inside MetaTrader and can analyse the market and place,…
- Strategy TesterThe Strategy Tester is MetaTrader's built-in backtesting and optimisation engine, which replays …
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Educational information only, not financial advice. Trading leveraged products carries substantial risk of loss. Last updated 2026-08-11.