GLOSSARY · METATRADER
What is MetaTrader 5?
MetaTrader 5 is the trading platform most retail forex and CFD brokers offer, and the environment in which Expert Advisors — automated trading programs — actually run.
Also called: MT5
What it means
MT5 combines charting, order entry, a strategy tester and a programming environment in one desktop application. Its significance for automation is that the EA runs inside the terminal, on your machine, rather than on the broker's servers — which means the terminal must be open, logged in and connected for anything automated to happen.
Why it matters
It is not simply a newer MetaTrader 4. The two use incompatible programming languages, incompatible account models and separate marketplaces, so an MT4 EA cannot be run on MT5 without being rewritten. See MT4 vs MT5.
What this changes in practice
The desktop terminal is Windows-only in practice, and that single fact determines the architecture of every serious MT5 bot. It cannot run in a browser, on iOS or on Android, so continuous operation requires either a machine left on permanently or a VPS. Our Mobile + PC plan exists specifically because of this constraint — see can I run a trading bot on my phone.
Related terms
- Expert AdvisorAn Expert Advisor (EA) is a program that runs inside MetaTrader 4 or 5 and trades for you: it re…
- MQL5MQL5 is the C-like programming language used to write Expert Advisors, indicators and scripts fo…
- VPSA VPS, or virtual private server, is a rented Windows machine in a data centre that stays on all…
- Strategy TesterThe Strategy Tester is MetaTrader's built-in backtesting and optimisation engine, which replays …
- MetaTrader 4MetaTrader 4 is the older MetaQuotes platform, still widely used for forex despite being superse…
- Journal and Experts tabsThe Journal and Experts tabs in the MetaTrader terminal window are the logs that record what the…
- Investor passwordThe investor password is a second MetaTrader password that grants read-only access to an account…
- Magic numberA magic number is an integer an EA stamps onto every order it places, allowing it to identify it…
Further reading
Educational information only, not financial advice. Trading leveraged products carries substantial risk of loss. Last updated 2026-09-09.