What is MT4?
MT4, short for MetaTrader 4, is one of the most commonly used forex trading platforms globally.
Many forex brokers, EAs (Expert Advisors), indicators, and signal services are developed based on MT4.

Features:

Simple to use with a clean interface

Supports automated trading (EAs)

Many technical indicators, ideal for technical analysis

Stable, with many long-time users and abundant tutorial resources

📌 Suitable for: Beginners, experienced EA users, and technical analysis traders.

What is MT5?
MT5, short for MetaTrader 5, is an "upgraded" version of MT4 with more powerful features, though it’s still less commonly used.

Features:

More timeframes and technical indicators

Supports more asset types, including stocks, futures, etc.

Allows placing multiple types of orders simultaneously

Easier to test EAs, with multi-threaded backtesting support

📌 Suitable for: Traders who need to trade multiple asset types or those who need higher platform performance.

Simple Differences Between MT4 and MT5:
Market Support: MT4 mainly supports forex, while MT5 supports more asset types like forex, stocks, and futures.

User Interface: MT4 has a simpler, more user-friendly interface, ideal for beginners, while MT5 is slightly more complex but offers more features.

EA Support: MT4 has more EAs available with a larger user base, while MT5 has fewer, though it’s increasing.

Backtesting Speed: MT4’s backtesting is slower, while MT5 supports multi-threaded backtesting, making it faster.

Popularity: MT4 is widely used and has a large community, while MT5 is gaining popularity but is still less used.

Which one should beginners use?
If you're a beginner and focus only on forex or gold, MT4 is recommended because it has more resources and is easier to get started with.
If you’re interested in trading other markets (such as US stocks or indices) or need better backtesting efficiency, consider MT5.