What these terms mean
Algos are robot helpers that place trades for you (MT4/MT5 call them EAs, cTrader calls them cBots). Depth shows a ladder of buyers and sellers. Symbols are what you can trade (FX, gold, indices, crypto). Backtesting is a time machine for your robot—run it on past data to see how it behaved. Ecosystem is the app store and community around each platform.
MT4 Classic
Old but trusted. Huge marketplace of ready-made robots and indicators. Simple, light on resources.
- + Massive EA/indicator library and tutorials
- + Runs on modest PCs
- ± Older, slower tester for big projects
- – MT4 robots (MQL4) don’t run on MT5
MT5 Modern
Newer engine with faster, multi-threaded testing and multi-symbol support. Better for complex algos and more asset classes.
- + Multi-symbol, multi-threaded Strategy Tester
- + More order types and depth features
- ± Smaller library than MT4, but growing
- – Needs EAs coded in MQL5
cTrader Pro manual
Modern interface with great depth-of-market and order control. Robots are cBots in C#; cloud-friendly workflows.
- + Strong DOM/Level II tools; clean UI
- + cBots + Copy; good for discretionary traders
- ± Best algo testing on desktop app
- – Smaller third-party library than MT4
Web (MT4/MT5/cTrader) No install
Open in a browser, trade from anywhere. Great for quick checks and basic manual trading. Robots don’t run in the browser.
- + Works on any OS
- + Core charting and order types
- ± Fewer extensions
- – No local EAs/cBots
Feature snapshot
| Feature | MT4 | MT5 | cTrader | Web |
|---|---|---|---|---|
| Robots / algos | EAs (MQL4) | EAs (MQL5), multi-symbol tester | cBots (C#) | Manual only |
| Backtesting | Single-threaded tester | Multi-threaded, multi-symbol | Desktop backtest & optimize | None |
| Depth of Market | Basic (broker-dependent) | Improved DOM + orders | Strong DOM/Level II | Basic ladder |
| Ecosystem | Very large | Large & growing | Smaller but active | Limited |
| Good fit | Plug-and-play library | Modern algos & multi-asset | Manual pros | Trade anywhere |
Your broker’s permissions and data feeds may affect available features.
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