What is MetaTrader (MT4/MT5)?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are trading platforms developed by MetaQuotes. They've dominated retail forex trading for over a decade. MT4 is older but still widely used for forex; MT5 supports more asset classes including futures and stocks. As of 2026, MetaQuotes has tightened restrictions on prop firm usage, contributing to the platform's market share decline from 48% to 24%. Many modern prop firms now use alternative platforms like TradeLocker, cTrader, DXtrade, and Match-Trader.
Key takeaways
The legacy retail forex trading platforms.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are trading platforms developed by MetaQuotes.
MT4 is older but still widely used for forex; MT5 supports more asset classes including futures and stocks.
As of 2026, MetaQuotes has tightened restrictions on prop firm usage, contributing to the platform's market share decline from 48% to 24%.
MetaTrader (MT4/MT5) vs. TradeLocker
Two terms that frequently get conflated. Here's how they actually differ.
MetaTrader (MT4/MT5)Platforms · PRO
TradeLockerPlatforms · PRO
The legacy retail forex trading platforms.
A modern web-based trading platform popular with prop firms.
Frequently asked questions
What is MetaTrader (MT4/MT5)?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are trading platforms developed by MetaQuotes. They've dominated retail forex trading for over a decade. MT4 is older but still widely used for forex; MT5 supports more asset classes including futures and stocks.
Why does MetaTrader (MT4/MT5) matter for prop firm traders?
MetaTrader (MT4/MT5) is one of the trading platforms you'll encounter while shopping prop firms. Platform choice affects execution speed, charting, EA support, and how cleanly your strategy translates from backtest to live.
How is MetaTrader (MT4/MT5) different from TradeLocker?
MetaTrader (MT4/MT5) and TradeLocker are commonly confused. MetaTrader (MT4/MT5): The legacy retail forex trading platforms. TradeLocker, by contrast: A modern web-based trading platform popular with prop firms.
What should traders watch out for with MetaTrader (MT4/MT5)?
As of 2026, MetaQuotes has tightened restrictions on prop firm usage, contributing to the platform's market share decline from 48% to 24%. Many modern prop firms now use alternative platforms like TradeLocker, cTrader, DXtrade, and Match-Trader.