Forex Glossary
What Is MetaTrader (MT4/MT5)?
The most widely used forex/CFD platforms; offer charting, indicators and automated trading (EAs).
MT4 and MT5 are the standard forex/CFD platforms; they offer demo accounts, automated trading (EAs) and technical indicators.
Risk warning. Leveraged forex trading carries high risk and in Türkiye may only be offered by SPK-authorised intermediaries; leverage is capped at 1:10 (half of that may apply if the initial margin at account opening is below TRY 50,000). This content is not investment advice; user statements belong to their authors.
The difference between MT4 and MT5
MetaTrader is the most widely used platform family for forex and CFD trading. MT4 is older and forex-focused; MT5 offers more asset classes, more timeframes and a different programming language. Migration is not automatic — an expert advisor written for MT4 will not run directly on MT5.
The platform is not the broker. The same MetaTrader interface can be offered by an SPK-authorised firm and by an unauthorised site alike; a familiar interface is not a safety signal.
What the platform does and does not provide
MetaTrader gives you charting, order management and automated trading. What it does not give you is the source of the price: the quotes you see are fed by the broker's server. That is why the ECN/STP versus Market Maker question must be asked independently of the platform.
It is also why a demo account where everything looks smooth can mislead; a demo tests neither real money flow nor the withdrawal process.
Warning sign: "proprietary" platforms
Some unauthorised platforms offer only their own web interface or a bespoke mobile app instead of MetaTrader. That is not an offence in itself, but having price and balance consist entirely of what that app displays increases risk — fake profit apps operate precisely in that gap.
Whichever platform you use, the order does not change: first the firm's SPK authorisation, then whether the domain appears in our SPK bulletin archive. Tactics are covered in our forex scams guide.