Platforms Compare Platforms

Compare Platforms (MT4 vs MT5 vs cTrader vs TradingView)

Choosing a trading platform is one of the most important decisions you will make as a new trader. The platform you pick affects how you see the market, how you place trades, and even how you feel while trading. In this comparison guide, we put the four most popular forex platforms side by side so you can see exactly how they differ. Not sure where to start? Read our guide on which platform to choose.

Risk warning: This content is for educational purposes only and not financial advice. Forex trading involves risk, and you can lose money.

Forex compare platforms

Compare Platforms (MT4 vs MT5 vs cTrader vs TradingView)

  • Quick overview of each platform
  • Charting and analysis
  • Order types and execution
You do not marry a platform, so date a few before you commit.

The four platforms are MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView. Each one is a solid choice, but they serve different types of traders.

Quick overview of each platform

MT4 launched in 2005 and remains the most popular forex trading platform on the planet. Its strengths are simplicity, reliability, and a massive ecosystem of custom indicators and Expert Advisors. Almost every forex broker supports MT4.

MT5 came out in 2010 as the successor to MT4. It offers more timeframes, more order types, and support for trading stocks and futures in addition to forex. It uses a more powerful programming language and has a built-in economic calendar.

cTrader is a modern platform built for speed and transparency. It offers Level II pricing (depth of market), advanced order types, and a clean interface. Automated trading is done through cBots using C#.

TradingView is a browser-based platform famous for its world-class charting tools and its active social community. It uses Pine Script for custom indicators and strategies. You can connect it to supported brokers for live trading.

Charting and analysis

When it comes to charting, TradingView is the clear winner. It offers hundreds of built-in indicators, dozens of drawing tools, and the ability to create custom multi-chart layouts. Charts look beautiful and are highly customizable.

  • MT4 has 30 built-in indicators, 9 timeframes, and basic drawing tools
  • MT5 has 38 built-in indicators, 21 timeframes, and improved drawing tools
  • cTrader has 70+ built-in indicators, 28 timeframes, and modern drawing tools
  • TradingView has 100+ built-in indicators, custom timeframes, and the best drawing tools in the industry

If charting is your priority, TradingView and cTrader are ahead of the MetaTrader platforms.

Order types and execution

All four platforms support the basic order types you need: market orders, limit orders, and stop-loss orders. But there are differences in the details.

  • MT4 supports 4 pending order types
  • MT5 supports 6 pending order types, including buy stop limit and sell stop limit
  • cTrader supports all standard order types plus advanced features like stop limit orders and market range orders
  • TradingView supports basic order types through connected brokers, but the exact options depend on which broker you link

For trade execution speed, cTrader is often considered the fastest because it was designed from the ground up for quick, transparent execution.

Automation and robots

If you want to use trading robots or automated strategies, all four platforms offer options, but the approach differs.

  • MT4 uses Expert Advisors (EAs) written in MQL4. There is a huge marketplace of free and paid EAs available.
  • MT5 uses Expert Advisors written in MQL5, which is more powerful but less backward-compatible with MT4 EAs.
  • cTrader uses cBots written in C#. The programming is more modern but the community is smaller.
  • TradingView uses Pine Script for alerts and strategy testing. Full automation usually requires a third-party tool to send orders to your broker.

For automation, MT4 has the biggest ecosystem. For modern programming, cTrader has the edge.

Mobile and web access

All four platforms offer mobile apps for iOS and Android. However, the experience varies.

  • MT4 has a functional but dated mobile app
  • MT5 has a similar mobile app with slightly more features
  • cTrader has a well-designed mobile app with a modern interface
  • TradingView has an excellent mobile app and runs natively in any web browser

TradingView is the most accessible platform because it works on any device with a browser. No download needed.

Cost comparison

  • MT4 is free through your broker
  • MT5 is free through your broker
  • cTrader is free through your broker
  • TradingView has a free plan with limited features. Paid plans range from around $13 to $60 per month, giving you more indicators on charts, more alerts, and no ads

Broker availability

  • MT4 is supported by the most brokers worldwide
  • MT5 is supported by a growing number of brokers, and some are phasing out MT4 in favor of MT5
  • cTrader is supported by fewer brokers, but the list is growing
  • TradingView broker integration is available with select brokers

Which one should you pick

  • Choose MT4 if you want the simplest, most widely supported platform with tons of free resources and indicators
  • Choose MT5 if you want MT4's reliability plus more features and access to additional markets
  • Choose cTrader if you value speed, transparency, and a modern interface
  • Choose TradingView if charting and analysis are your top priorities and you want to trade from any device

Remember, you can always use more than one platform. Many traders chart on TradingView and execute on MT4 or cTrader. Try them on a demo account to see which feels right.

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