MetaTrader 5
Multi-asset trading terminalMetaTrader 5 (MT5) is a multi-asset trading terminal developed by MetaQuotes, released in 2010 as the successor to MetaTrader 4. You access it through a broker that offers it: MetaQuotes builds the software, while the broker provides the account, pricing and execution. On top of the MT4 model it adds stocks and futures, a built-in economic calendar and a more powerful programming language.
SMCM is independent and is not affiliated with, endorsed by, or sponsored by MetaQuotes Ltd. MetaTrader, MetaTrader 5 and MT5 are trademarks of MetaQuotes Ltd, used here for identification and educational purposes only. You trade with MetaTrader 5 through a broker that offers it — MetaQuotes develops the software and is not a broker.
Quick facts
- Developer
- MetaQuotes Ltd
- Released
- 2010
- Type
- Multi-asset trading terminal
- Markets
- Forex, stocks, futures, options, CFDs
- Automation
- MQL5 Expert Advisors, indicators, scripts
- Devices
- Windows, web, iOS, Android
Where you can trade
The platform is available worldwide, but you use it through a broker or prop firm — so whether you can access it depends on that provider's availability in your country, not on MetaQuotes.
Eligibility depends on your country of residence and which entity you are onboarded to, and can change. Always confirm you can open an account — and under which entity — on the provider's official site before funding.
Our take
MetaTrader 5 is MetaQuotes' modern flagship terminal, built to go beyond the forex-and-CFD world MetaTrader 4 was designed for. It supports forex, stocks, futures, options and CFDs, and adds tools the older platform never had — a built-in economic calendar, Depth of Market, more timeframes and order types, and a faster, multi-threaded strategy tester for backtesting automated systems.
The important thing to understand is what MT5 is and isn't. It is the software you chart and trade in; it is not a broker and does not hold your money. You download the terminal (Windows, web, iOS or Android) and log in with credentials from a broker that offers MT5 — and it is that broker, not MetaQuotes, that sets your spreads, commissions, leverage and which markets you can actually reach.
MT5 is not backward-compatible with MT4: its MQL5 language means Expert Advisors and indicators written for MT4 must be rewritten. That, plus MT4's enormous installed base, is why both platforms still coexist. For a trader choosing today, MT5 is the more capable, multi-asset option — provided the broker you pick supports it well.
Pros
- Multi-asset: forex, stocks, futures, options and CFDs
- Built-in economic calendar and Depth of Market
- More timeframes, indicators and order types than MT4
- Powerful MQL5 language and multi-threaded strategy tester
- Free to download; desktop, web and mobile apps
Cons
- What you can trade and what it costs depend entirely on your broker
- Not backward-compatible with MT4 (MQL4 code must be rewritten)
- More features mean a steeper learning curve than MT4
- MetaQuotes develops the platform — issue support often routes through your broker
Full details
- Developer
- MetaQuotes Ltd (software developer, not a broker)
- How you access it
- Download the terminal and log in with an account from a broker that offers MT5
- Asset classes
- Forex, stocks, futures, options and CFDs (subject to your broker)
- Timeframes
- 21 built-in timeframes
- Analysis tools
- 38+ technical indicators, graphical objects, Depth of Market, economic calendar
- Automation
- MQL5 for Expert Advisors, custom indicators and scripts; built-in strategy tester
- Account modes
- Hedging and netting
- Platforms
- Desktop app (Windows), a web terminal, and mobile apps for iOS and Android
- Pricing
- Free to download; trading costs (spreads / commissions) are set by your broker, not MetaQuotes
Who it may fit
- • Traders who want one terminal across forex, stocks and futures
- • Traders building or running automated strategies in MQL5
Who should avoid it
- • Traders whose broker or tools are tied to MT4 only
- • Beginners who want the simplest possible starting point
FAQ
- Is MetaTrader 5 a broker?
- No. MetaTrader 5 is trading software developed by MetaQuotes. You trade through a broker that offers the platform; the broker holds your funds and sets your pricing, leverage and available markets.
- Is MetaTrader 5 free?
- The terminal is free to download from MetaQuotes or your broker. What you pay to trade — spreads, commissions and swaps — is set by the broker you use, not by MetaQuotes.
- What is the difference between MT4 and MT5?
- MT4 (2005) focuses on forex and CFDs with the MQL4 language; MT5 (2010) is multi-asset — adding stocks, futures and options — with more timeframes and tools and the more powerful MQL5 language. They are not code-compatible, which is why many brokers still offer both.
Head-to-head comparisons
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Last checked: July 2026