MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two popular online trading platforms developed by MetaQuotes Software. While both platforms share some similarities, they have distinct differences in terms of features, functionality, and user interface. Similarities: 1. Both MT4 and MT5 offer advanced charting and technical analysis tools. 2. They support automated trading through Expert Advisors (EAs). 3. Both platforms offer mobile trading apps for Android and iOS devices. 4. They provide real-time market data and news feeds. Differences: 1. Markets and Instruments: MT4 is primarily designed for forex trading, while MT5 supports trading in multiple markets, including forex, stocks, futures, and commodities. 2. Programming Language: MT4 uses MQL4, while MT5 uses MQL5. MQL5 is more advanced and allows for more complex EA development. 3. Backtesting: MT5 offers more advanced backtesting capabilities, including multi-currency and multi-symbol testing. 4. Strategy Tester: MT5's Strategy Tester is more powerful and allows for optimization of EAs using genetic algorithms. 5. Interface: MT5 has a more modern and intuitive interface, with improved charting and navigation. 6. Mobile App: MT5's mobile app is more feature-rich and allows for more advanced trading and analysis on-the-go. 7. Security: MT5 has improved security features, including two-factor authentication and encryption. Who is each platform for? 1. MT4: Suitable for forex traders who want a simple, user-friendly platform with advanced charting and EA capabilities. 2. MT5: Suitable for traders who want to trade multiple markets and instruments, and require more advanced features, such as multi-currency backtesting and strategy optimization. Ultimately, the choice between MT4 and MT5 depends on your specific trading needs and preferences.