What are MT4 and MT5? A plain-English guide for beginners
MT4 and MT5 (MetaTrader 4 and MetaTrader 5) are free programs that show you live prices on a chart and let you send orders to a broker. They are made by a software company called MetaQuotes. Brokers give them to their clients.
An important point first: MetaTrader does not hold your money. Your broker does. MetaTrader is only the window you look through and the button you press.
What is the difference? MT5 is the newer version. It has more timeframes, more order types and a built-in economic calendar. MT4 is older and still very common. Many brokers offer both. The good news for beginners: what you learn on one mostly works on the other — charts, timeframes, orders and stop losses look and work much the same.
Which should you start with? Use the one your broker offers for the account you plan to practise on. If both are available, MT5 is a sensible choice because it is the current version.
Your first step: install it from an official source (see the next article) and open a free demo account, so you can practise with virtual money.
Continue in the course: the Foundation Course — start free, 14 days, no card
Trading involves significant risk of loss. Practise on a demo account first. Holy Trading Science provides education, not financial advice.