Quick Answer: XM supports both MT4 and MT5 free of charge, with no extra fee for either platform. MT4 is simpler and suits traders who focus on forex/gold and run basic EAs. MT5 offers more analysis tools (80+ vs. 60+), additional order types, a built-in economic calendar, and is the REQUIRED platform if you want to trade Shares on XM — MT4 doesn't support this asset class.
Quick Comparison Table#
Criteria | MT4 | MT5 |
|---|---|---|
Technical analysis tools | 60+ | 80+ |
Order types | Basic (Market, Limit, Stop) | More (adds Stop Limit, Buy/Sell Stop Limit) |
Built-in economic calendar | No | Yes |
Depth of Market | No | Yes |
Trade Shares on XM | No | Yes |
EA (Expert Advisor) support | Yes | Yes |
Desktop/mobile/web availability | Yes | Yes |
Comparison based on publicly documented MetaTrader platform features — not internal FTL Brokers Scheme data.
MT4: Simple, Stable, Well-Suited to Basic EAs#
MT4 remains popular among long-time forex traders for its simplicity, stability, and the massive community of EAs and indicators built up over the years. If you only trade forex and gold (Gold/XAUUSD), run basic EAs, and have no need to trade shares or other more complex asset classes, MT4 covers your needs completely.
MT5: More Tools, Required for Trading Shares#
MT5 is the upgraded version with 80+ technical analysis tools, additional order types, a built-in economic calendar, and Depth of Market functionality for select assets. Most importantly for XM traders: if you want to trade Shares (stock CFDs), MT5 is REQUIRED — MT4 does not support this asset class on XM. Choosing a platform should go hand-in-hand with choosing the right account type — see our full breakdown of XM's account types to find the one that fits your trading needs.
Which Platform Should You Choose?#
- Trading only forex/gold, running simple EAs, want a lightweight and familiar platform: MT4.
- Want to trade stock CFDs, need more analysis tools, or want a built-in economic calendar: MT5.
- Not sure yet: Nothing stops you from opening both platforms in parallel on your XM account to try each before committing long-term to one. The safest way to test both without risking real capital is on an XM demo account first.
- Using an EA from an existing source: Check whether it's written for MT4 (MQL4) or MT5 (MQL5) first — the two programming languages aren't directly compatible.
Frequently Asked Questions#
Conclusion#
There's no absolute "better platform" between MT4 and MT5 on XM — MT4 suits traders who prioritize simplicity and basic EAs, while MT5 suits traders who need more analysis tools or want to trade shares. With XM, you lose nothing by trying both before committing to one.
Risk warning: Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Platform features may change with MetaQuotes updates — please confirm the latest information before trading. This is not investment advice.
FN Trading Lab - For Traders and Trading Community
