MetaQuotes stopped selling new MT4 licences years ago, yet MT4 remains everywhere. Here's how the two actually differ for a Canadian trader.
Where MT5 wins
- 21 timeframes vs MT4's 9
- Multi-threaded strategy tester — backtests run dramatically faster
- Depth of market and an economic calendar built in
- Netting or hedging account modes
Where MT4 still wins
- The largest EA and indicator ecosystem, much of it never ported (MQL4 ≠ MQL5)
- Lighter on resources, runs on anything
- Broadest broker support
Which Canadian brokers offer what
FOREX.com and Friedberg Direct support MT5; MT4 is available more widely. See the full platform comparison.
FOREX.com is our top pick for MetaTrader in Canada9.4/10 · From 0.8 pips · Min deposit C$100
Our take
Starting fresh with automation? Learn MT5 — the backtester alone justifies it. Migrating a proven MT4 EA portfolio? Stay on MT4 until you have a reason to port.