1. Asset Coverage

• MT4: Primarily built for Forex and simple CFD trading.

• MT5: Supports Forex, CFDS, plus Stocks, Futures, Options, and Cryptocurrencies — a true multi-asset gateway.

2. Order Types & Execution Modes

• MT4: Four order types (Market, Limit, Stop, Stop-Limit) and two execution modes (Instant & Market Execution).

• MT5: Six order types (adds Buy Stop Limit & Sell Stop Limit) and four execution modes (Instant, Request, Market, Exchange), giving you finer control over how your orders are handled.

3. Market Depth (Level II)

• MT4: No native market-depth display. You see only the best bid/ask.

• MT5: The built-in Depth of Market window shows multiple levels of liquidity, allowing you to gauge true supply and demand at different price levels.

4. Timeframes & Charting

• MT4: Nine timeframes, up to MN1.

• MT5: Twenty-one timeframes (from M1 all the way to MN1) plus a more advanced charting toolkit with 38 built-in technical indicators and 44 graphical objects.

5. Strategy Tester & Backtesting

• MT4: Single-currency backtesting with simplistic tick simulation.

• MT5: Multi-currency, multi-threaded strategy tester with real tick data, spread modelling, and built-in optimisation (including genetic algorithms) for automated strategies.

6. Programming Language

• MT4: MQL4 — simpler, event-driven, suited for basic EA's and indicators.

• MT5: MQL5 — a more powerful, object-oriented language with extensive standard libraries, letting you build complex, high-performance Expert Advisors.

7. Hedging vs. Netting

• MT4: Supports hedging only (you can open opposing positions on the same instrument).

• MT5: By default, it uses the netting system (one position per symbol) but can be configured for hedging as well, making it flexible for different regulatory environments.

8. Economic Calendar & News

• MT4: No native calendar; you need plugins or third-party tools.

• MT5: Integrated economic calendar, news feed, and alerts right in the platform, so you never miss major market events.

9. Community & Copy Trading

• MT4: Access to the MetaTrader Market for EA's and indicators.

• MT5: All of MT4’s marketplace features plus a built-in “Signals” service for subscribing to professional strategy providers without leaving the platform.

Bottom Line:

• If you’re exclusively trading Forex/CFDs and value simplicity, MT4 remains a rock-solid choice.

• If you want a single platform for Stocks, Futures, Forex, Cryptos, deeper analytics, faster backtests, or Level II liquidity, MT5 is the way to go.

Step 1: Download MT5 here.

Step 2: Download and run the file. A security prompt may appear based on your system security setting. Confirm by clicking on 'Yes’ if a security prompt pops up.

Step 3: Read and accept the Metatrader 5 License Agreement.

Step 4: Install MT5, by clicking on the install button.

Step 5: Launch the software and select a server from the list once the software is installed.

Step 6: Log in to your MT5 account using your account number and password.

Step 7: You are now ready to MT5 on your computer.  

For further guidance, Watch these short video guides on installing MT5 for both mobile and Desktop.

Mobile: IOS / Android 

Desktop: Windows / Linux /MAC 

Contact support if you need any help. 

When opening a demo or live account with Global Prime, you’ll be prompted to select your preferred platform. You can choose between MT4 or MT5.  
 
Choose MT5 as your preference.  If you need assistance installing and running MT5, visit the first FAQ for guidance.

Before opening a live account with Global Prime, you can create a Demo account. Practice your trading skills on the demo account without risking any real money. Open a demo account here.  

Select a financial instrument in the Market Watch window, and open its context menu.

Click "New Order."

If you are ready to place your first trade on MT5 in the live markets, login into MT5 through the Global Prime secure Hub, fund your account, and place a trade. 

To reset your trading account password, please follow these steps:

Click on ‘Tools’ in the main toolbar, then select ‘Options’

On the new panel select the ‘Server’ tab

Make sure the login and master password are filled in and press the change button

You will be prompted to enter your current password and new password twice

You can also choose to change either the Master or Investor password (read-only)

Click the ‘Ok’ button 

Click on ‘File ’ in the main toolbar, then select ‘Login to Trade Account

On the new panel select the ‘Server’ tab

Make sure the login and master password are filled in and press the change button

You will be prompted to enter your current password and new password twice

You can also choose to change either the Master or Investor password (read-only)

Click the ‘Ok’ button  

A margin call occurs when your account equity falls below the required margin level for your open positions. If your equity falls further, a stop-out may occur, meaning your positions are automatically closed to prevent further losses. To avoid this, monitor your account balance and margin levels regularly. You can also use stop-loss orders to protect against large losses.

No, unfortunately, the time zone can’t be changed on the MT4 or MT5 platform. 

Account reports are accessible from directly within the trading platform. Click on the Account History tab in the Terminal section, right-click and select the period you would like to see the history of, and then right-click again and select Save as Report.

If needed, account reports can also be requested from our support team. 

To manage notifications on MT5, follow these steps:

Go to Tools > Options.

Select the Notifications tab.

Enter your phone number and MetaQuotes ID (to receive mobile push notifications).

Enable or disable alerts as you prefer. Notifications can also be set for specific events, such as price levels, trading orders, or account balance changes. 

You can keep your positions open for as long as you deem fit or as long as your margin stays within acceptable levels on the MT4/MT5 platform.

Withdrawals are processed in your Global Prime client portal through the payments tab:

Log in to your Global Prime account.

Navigate to the payments tab on the left sidebar.

Click on the "Withdraw" button on the top right.

Select your preferred withdrawal method and follow the prompts.

Submit your request.

Processing times vary based on the withdrawal method chosen. 

To place a trade on MT5, follow these steps:

Open MT5 and navigate to the Market Watch window.

Right-click on the instrument you want to trade and select New Order.

In the Order window, select:

Order Type (Market Execution or Pending Order).

Volume (lot size).

Stop-Loss and Take-Profit levels (optional but recommended).

Click Buy or Sell to execute the trade.

Your order will now be visible in the Trade tab of the Terminal window. 

To close an open trade:

Open MT5 and navigate to the Trade tab in the Terminal window.

Locate the trade you want to close.

Right-click on the order and select Close Order.

Alternatively, double-click on the order and click the Close button in the order window.

Your trade will now be closed, and any profit or loss will be reflected in your account balance. 

To modify an open trade:

Go to the Trade tab in the Terminal window.

Right-click on the open order and select Modify or Delete Order.

Adjust your Stop-Loss or Take-Profit levels as needed.

You can modify the entry price, expiration time, and order type for pending orders.

Click Modify to confirm changes.

You can also use the Trailing Stop feature to automate stop-loss adjustments based on price movements.