MetaTrader 4 vs MetaTrader 5 vs cTrader vs TradingView

Your broker decides which platforms you can use, and your platform shapes how you trade. These are the four most widely offered to retail forex traders.

MetaTrader 4

Released by MetaQuotes in 2005, MT4 is still one of the most common forex platforms.

• Timeframes: 9, from one minute to monthly
• Automation: Expert Advisors and indicators written in MQL4, with a huge library of existing code
• Strengths: familiarity, simplicity and wide broker support
• Limits: built mainly for forex; trailing stops run inside the terminal, so they stop working when it is closed

MetaTrader 5

MetaQuotes released MT5 in 2010 as a multi-asset successor.

• Timeframes: 21
• Automation: MQL5, with a faster multi-threaded strategy tester
• Extras: depth of market, a built-in economic calendar and more pending order types, including stop-limit orders
• Positions: supports both hedging and netting account modes, depending on the broker

MT4 code doesn't run on MT5 without rewriting, which is the main reason many traders haven't moved.

cTrader

Developed by Spotware, cTrader is offered by a smaller number of brokers.

• Automation: cBots and indicators written in C#
• Features: depth of market, detached charts and detailed trade statistics
• Strengths: a modern interface and transparent order information

TradingView

TradingView started as a charting platform and social network, and many brokers now let you connect an account to trade from its charts.

• Charting: widely regarded as among the best, in the browser, desktop and mobile apps
• Automation: Pine Script for indicators and strategy testing; automated live execution depends on the broker's integration
• Community: published ideas and scripts from other users
• Availability: trading from TradingView depends on your broker supporting the integration, and some features need a paid TradingView plan

Which to choose

• You use or want Expert Advisors: MT4 or MT5, depending on what your code or vendor supports.
• You trade manually and care about charts: TradingView, if your broker connects to it.
• You program in C#: cTrader.
• You also trade other markets: MT5 or a broker's own multi-asset platform.

FTC's broker profiles list the platforms each broker offers, and the comparison table shows them side by side.