MT5 vs MT4 for running EAs: which should you choose?
Both platforms run automated strategies, but they are not the same. A practical breakdown of MQL4 vs MQL5, backtesting speed, order types, and which terminal to pick for your EA (and your prop-firm account).
MT5 vs MT4 for running EAs: which should you choose?
If you are shopping for an expert advisor, the platform question comes up fast: MetaTrader 4 or MetaTrader 5? Both run automated strategies, both are free to download, and most brokers support both. The difference is not which one is "newer" — it is what each one is built to do.
This guide explains the real trade-offs so you can pick the right terminal for your EA, and it covers how EAbase ships its code for each.
The short answer
- Use MT4 if your EA is already written for MQL4, your broker only offers MT4 for that instrument, or you want the widest pool of community indicators and presets.
- Use MT5 if you want more order types, a deeper market watch, a built-in economic calendar, and a faster, multi-threaded backtester.
For pure automated trading of forex and metals, either platform works. The strategy logic matters far more than the terminal.
Where they actually differ
Language. MT4 uses MQL4, MT5 uses MQL5. They look similar but are not drop-in compatible. An EA written for MT4 will not compile in MT5 without a port: order handling, indicator handles, and position loops are written differently.
Execution model. MT5 is multi-threaded and can run optimizations across cores. Its Strategy Tester can use tick data and cloud agents. MT4's tester is single-threaded and slower on big runs.
Order types. MT5 adds pending orders beyond the basic stops and limits, plus a built-in depth-of-market view. For a simple stop-and-target EA this does not change much.
Market coverage. MT5 was designed for stocks, futures, and multi-asset brokers. If you ever trade instruments beyond forex and metals from the same terminal, MT5 is the only one of the two that supports it well.
Does EAbase support both?
Yes. Every EAbase EA is authored for MT4 (MQL4) and compiles to an .ex4. We also maintain an MQL5 source port folder for the most-requested strategies — currently six EAs including CryptoTrend, LondonBreakout, NasdaqBreak, GbpJpyTrend, Gold–Silver StatArb, and Metals Pyramid Rider. The MQL5 files are written and ready to compile in MetaEditor; once compiled they activate against the same eabase.pro license server as the MT4 versions.
The license check works on both platforms. On MT5 you whitelist https://eabase.pro in Tools → Options → Expert Advisors, the same as the MT4 WebRequest setting.
Which should a prop-firm trader pick?
Pick the terminal your firm's account is opened on. Most prop-firm challenges run on MT4 or MT5 depending on the broker the firm uses. Do not try to run an MT4 EA on an MT5 account — it will not load. Match the EA to the account, then size risk the same way on either platform.
The risk-first rules are identical: hard stop on every trade, no grid, no martingale, and a daily loss cap. PropGuard Sentinel guards the account on both MT4 and MT5.
FAQ
Can I move my EA from MT4 to MT5 without rewriting it? No. MQL4 and MQL5 are different languages. You need a port. EAbase provides the MQL5 source for the supported strategies so you do not start from zero.
Is MT5 faster for backtesting? Yes. MT5's tester is multi-threaded and supports tick data and cloud agents, so a one-year test that takes an hour on MT4 can finish much sooner on MT5.
Will my license key work on both platforms? Yes. The same key activates both the MT4 and MQL5 builds, subject to your seat allowance.
Which platform do most EAbase users run? MT4 is still the most common for forex and metals, but MT5 adoption is growing, which is why we ported the top strategies to MQL5 source.
Bottom line
The platform is a tool, not the strategy. Choose MT4 for maximum community support and broker coverage, MT5 for speed and multi-asset reach. Either way, run a hard-stop EA and keep your risk per trade at or below one percent.