Review: Doo Prime MT4 vs MT5 — Which Trading Platform Should You Use?

Quick summary

Meta answer: Choose MT4 if you value stability, a huge EA marketplace, and simplicity (especially for forex-only traders). Choose MT5 if you need multi-asset support (stocks, indices, CFDs), more built-in timeframes, improved strategy testing, and plan to build more advanced automated strategies. Both platforms are supported by Doo Prime, so you can test both via demo accounts.

What are MetaTrader 4 (MT4) and MetaTrader 5 (MT5)?

MT4 (MetaTrader 4) launched in 2005 and became the dominant retail forex trading platform due to its simplicity, stability, and extensive third-party EA & indicator ecosystem. MT5 (MetaTrader 5) is a newer multi-asset platform with expanded features: more timeframes, built-in economic calendar, advanced order types, and a more powerful programming language (MQL5) for strategy development and backtesting.

Platform availability on Doo Prime

Doo Prime supports both MT4 and MT5 across desktop (Windows), mobile (iOS & Android) and web versions. For institutional or advanced traders, Doo Prime also offers FIX API connectivity. Always confirm availability and features for your account entity in your Doo Prime client portal.

Feature-by-feature comparison

Note: EAs and indicators are not directly cross-compatible — code must be ported between MQL4 and MQL5 or obtained separately.

Charting, indicators & user interface

MT4 provides all core charting tools traders need: multiple chart types, drawing tools and support for custom indicators. It is straightforward, lightweight and fast on older machines.

MT5 extends charting with more built-in timeframes, object types and a slightly more modern interface. MT5’s navigator & toolbox layout also exposes more data (e.g., economic calendar) inside the platform.

• Both platforms support multiple chart templates, profiles and custom indicators.
• MT5 offers more native indicators and windows for market depth & news.

Order types & execution

MT5 supports additional order types (like buy stop limit) and market depth (DoM) which some advanced traders and institutions use. For many retail forex strategies, MT4’s available order types are sufficient.

Execution speed is not inherently faster on MT5; actual speed depends on Doo Prime’s server infrastructure, your routing, and account type (ECN vs STP). Always test execution in demo and small live sizes to evaluate fills & slippage.

Expert Advisors (EAs) & automated trading

Automated trading is a core use case for both MT4 and MT5:

• MT4: Massive library of legacy EAs and indicators available from marketplaces and forums. If you rely on legacy EAs, MT4 is often the simplest option.
• MT5: MQL5 is more feature-rich and supports object-oriented programming, advanced data types and faster backtesting. New EAs built for complex strategies work better on MT5.

If you're migrating an EA from MT4 → MT5 you typically need to recode or use a converter with caution — expect testing and validation work.

Backtesting & strategy optimization

MT5’s strategy tester is superior: multi-threaded, supports more accurate tick modeling and allows walk-forward optimizations. For quantitative traders and serious algo developers, MT5 often saves time and produces more reliable backtest results.

Performance, system resources & hosting

MT4 is lighter and can run comfortably on older hardware or low-resource VPS. MT5, while more powerful, may use slightly more CPU for advanced backtesting or many simultaneous charts.

• Consider a low-latency VPS if you rely on EAs or scalp frequently.
• Test both platforms on your machine and measure resource usage if your setup is constrained.

Which platform is better for different trader types?

How to test both platforms on Doo Prime (practical checklist)

1. Open demo MT4 and MT5 accounts via your Doo Prime portal.
2. Compare the same instrument across both platforms at the same time (spread, ticks, price updates).
3. Run a batch of sample market orders and measure slippage & fill times.
4. If you use EAs, deploy the same logic (or equivalent) and compare runtime behaviour and logs.
5. Test strategy tester: run a simple backtest on both platforms and compare results and runtime.

Keep a log (spread, slippage, execution time) in a spreadsheet — real numbers trump marketing claims.

Migration & compatibility considerations

Indicators and EAs are not directly portable between MT4 (MQL4) and MT5 (MQL5). If you rely on 3rd-party tools, check availability for your preferred platform or budget for porting work. Some vendors provide versions for both platforms.

Summary — pros & cons

Final recommendation

If you trade primarily forex, rely on legacy EAs, or prefer a lightweight, familiar UI — start with MT4 and test thoroughly. If you want multi-asset trading, advanced backtesting, and plan to develop sophisticated automated systems, prefer MT5.

Best practice: open both demo accounts on Doo Prime, run your exact workflow on each for 1–2 weeks, and choose the platform where your strategy performs with the lowest real-world friction (spreads, slippage, execution & resource stability).

Frequently asked questions

Can I have both MT4 and MT5 accounts with Doo Prime?

Yes — most brokers (including Doo Prime) allow clients to open multiple accounts and use both MT4 and MT5 simultaneously. Use each for testing or different strategies.

Are EAs faster on MT5?

MT5 generally offers better performance for complex EAs and more reliable backtesting because of multi-threading and improved modeling. However, simple EAs run fine on MT4.

Will Doo Prime stop supporting MT4 in the future?

There is no public indication that MT4 will be discontinued imminently — it remains widely used. Brokers typically support both for many years to serve client demand.