Choose using account requirements, not a version number alone.
General informationSources and dates included
Start with the actual offering
Ask which instruments, account modes, order types and reports the broker enables on each platform. Platform software capability does not guarantee that every function is offered on your account.
Automation migration takes work
MT4 and MT5 use different programming environments. Indicators and expert advisers may require porting and testing; the same strategy name does not guarantee equivalent behaviour.
Compare costs on each account
A broker may attach different commissions, symbols or minimum sizes to the two platforms. Test the relevant demo and record platform-specific terms. Neither platform removes market risk or verifies the broker’s authorisation.
Test accounting behaviour, not just chart appearance
MetaTrader 5 supports netting and hedging; the broker sets the account mode. In netting, opposite deals change one net position for the symbol. Hedging allows separate positions, including opposite directions. The setting changes how an order action affects the account.
In a hypothetical MT5 demo, buy 0.02 lots and then sell 0.01 lots of the same symbol. Under netting, the net position becomes 0.01 lots long. Under hedging, there can be separate long and short positions. Record the mode and inspect the result rather than assuming the second order closed the first. This is a software exercise, not a trade recommendation.
