MetaTrader 5 Features: Market Depth, More Assets and MQL5
MetaTrader 5 (MT5) is a modern trading platform developed by MetaQuotes as an extension of the popular MetaTrader 4 (MT4). It wasn’t built as a direct replacement — it’s a broader development that gives traders and investors more capability.
MT4 earned its reputation for simplicity, stability, and a huge user community. But markets keep changing. Trading is no longer limited to forex — it now covers stocks, indices, commodities, and even cryptocurrencies. With that expansion, traders need more advanced analysis and automation tools. That’s where MT5 comes in.
This article covers the key features that make MT5 different from MT4 and from other platforms. We’ll go through its technical capabilities, the analysis tools it offers, and how well it fits different trading styles.
Support for a wider range of assets
The biggest difference between MT5 and MT4 is the range of markets each one covers. MT4 was originally built for forex trading, while MT5 opens the door to stocks, bonds, futures, indices, commodities, and even crypto.
This variety lets a trader build a full investment portfolio instead of sticking to currency pairs alone. For example, they can hedge forex positions using commodities, or combine stock and index strategies.
Many brokers have also adopted MT5 because of its multi-market structure. JustMarkets, for instance, offers a desktop version of the MetaTrader 5 platform that supports trading across a wide range of financial instruments.
In this way, MT5 becomes a full trading station that brings everything together, from currency charts to stock order books.
A new set of timeframes and indicators
MT4 limits traders to nine standard timeframes. That can work for basic analysis, but it isn’t enough for more complex strategies. MT5 addresses this by offering 21 timeframes, ranging from one minute up to a full month.
This range gives traders a lot of flexibility: they can study intraday price moves minute by minute or build longer-term forecasts for stocks and indices.
MT5 also expanded the number of built-in indicators to 38, compared to just 30 on MT4, and added new mathematical tools along with the ability to build custom indicators.
A quick comparison:
| Feature | MT4 | MT5 |
| Number of timeframes | 9 | 21 |
| Number of built-in indicators | 30 | 38 |
| Number of graphical tools | 31 | 44 |
MT5 gives a clearer, more detailed view of market movement, which helps traders who work across multiple assets and apply varied strategies.
Market depth and the order book
One of MT5’s standout tools is market depth. Unlike MT4, which only shows the price and spread, MT5 displays the full order book. This lets a trader track liquidity, see the strength of supply and demand, and gauge pressure on the price.
That gives the trader more control. They can place orders at precise levels within the order book instead of only executing at market price. This feature matters most when trading stocks and futures, where market depth is a key factor.
Advanced automation capabilities
MT5 runs on MQL5, a programming language that’s faster and more capable than MQL4. Writing bots, indicators, and scripts has become simpler and more effective.
MQL5 also supports object-oriented programming, which makes the code more flexible and easier to scale. This lets traders build more complex algorithms while keeping execution time as low as possible.
MT5 also has a built-in marketplace for bots and indicators, where ready-made solutions can be bought or rented. This lowers the barrier to entry for algorithmic trading, and it’s worth exploring for a broader look at everything the desktop platform offers.
Built-in economic calendar
On MT4, traders had to rely on outside services to track news. MT5 solves this with a built-in economic calendar.
The calendar shows key events, forecasts, and actual data in real time, such as inflation reports or interest rate decisions. This helps traders react immediately without leaving the platform.
The result: sharper focus on trading and fewer distractions.
Support for multiple markets and accounts
MT5 lets traders run several accounts at the same time. That’s practical for anyone who wants to separate strategies, such as using one account for scalping and another for longer-term positions.
The platform also supports both hedging and netting account systems, while MT4 was limited to hedging only. That means a trader can pick the system that fits their strategy and their broker’s requirements.
Conclusion
MetaTrader 5 isn’t just an update to MT4 — it represents a new level of capability: broader market coverage, more advanced analysis tools, market depth, a built-in economic calendar, and stronger automation.
Beginners may still prefer the simplicity of MT4, but traders looking to build diversified portfolios, analyze multiple markets, and use algorithms will generally find MT5 the better fit.
The platform has already established itself as a standard for multi-asset trading, and as more brokers adopt it each year, MT5 continues to build its position among both professional and casual traders.
Disclaimer: This article is educational and does not constitute investment advice. Trading forex and CFDs on either platform carries a high level of risk and you may lose your invested capital. This content may include an affiliate link; if you open an account through it, we may earn a commission at no extra cost to you.
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