Copy trading is one of the fastest-growing methods for both new and seasoned traders to get into the financial markets without any hassle. The use of MT4 and MT5 platforms allows traders to copy excellent techniques automatically, manage their investment smartly and trade various assets easily. However, the major question that the majority of beginner traders is asking is:
MT4 or MT5 - which MetaTrader is more suitable for beginners and for copy trading?
In this post, the comparison of MT4 vs MT5 for copy trading is made and you are guided to make a choice for the platform that best fits your objectives. This manual is of great assistance especially for the traders utilizing the Combiz Copy Trading Software which is compatible with both MT4 and MT5 for automatic trade replication.
MetaTrader 4 (MT4) was introduced in 2005 by MetaQuotes and soon after became the Forex trading platform with the largest user base worldwide. Its attributes included ease of use, low resource consumption, and a wide variety of Expert Advisors (EAs), which were developed using MQL4, numbering in millions.
On the other hand, MetaTrader 5 (MT5) came out in 2010 as an advanced, multi-asset version of MT4. It now offers trading in equities, precious metals, futures, cryptocurrencies, and more, along with a wider range of analytical tools and faster execution.
The two platforms are still very popular, however, they have different structures and features—especially in terms of copy trading.
Both platforms continue to be very popular but there are significant differences in terms of their structure, features, and copy trading particularly.
Feature | MT4 | MT5 |
| Asset Coverage | Mainly Forex & CFDs | Multi-asset – Forex, stocks, indices, commodities, crypto |
| Copy Trading Integration | Requires third-party plugins like Combiz | Built-in copy trading signals |
| Execution Speed | Single-threaded, slower | Multi-threaded, faster |
| Backtesting | Limited | Advanced multi-currency testing |
| Analytical Tools | 30 indicators, 9 timeframes | 38 indicators, 21 timeframes + economic calendar |
| Ease for Beginners | Simple interface | More advanced, slightly complex |
| Community Support | Larger, huge EA library | Growing rapidly, future-focused MQL5 |
✔ MT5 is generally better for copy trading.
MT5 is the one that has the greatest performance, a larger variety of assets to trade, and at the same time it has the most advanced copy trading features. A lot of advanced traders and auto trading software vendors thus prefer to use MT5.
However, MT4 is still the most suitable one for beginners.
In case trading is new to you and you wish to use a platform which is simple to learn for trading Forex, then you will find MT4 extremely beginner-friendly.
MT4 is the best option if you:
MT4 is the ideal choice for such traders who are looking to start with a small investment, slowly learn, and gradually move into automated or copy trading.
MT5 is the choice that is better if you:
Combiz Copy Trading Software provides complete support for both MT4 and MT5.
However:
When your goal is copy trading, and that too through a professional platform like Combiz, then MT5 will be the best option for the long-term growth and diversified trading.
But in the case of a total beginner who trades forex only, then MT4 remains a nice entry point.
It is common for many traders to first use MT4 for skill building and later switch to MT5 for better speed of execution and extra features.