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
VT Markets, StarTrader and PU Prime support full MT5; Bullwaves and Kudotrade run MT5 only, with no MT4 option. See the full platform comparison.
Related broker reviews
Want to compare your options in more depth? Read our full StarTrader review (9.1/10) and Axi review (8.8/10), or see how they stack up head-to-head in our Axi vs StarTrader comparison.
StarTrader is our top pick for full MetaTrader support9.1/10 · From 0.0 pips · Min deposit $50
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.