Migrate MT4 to MT5: Complete Guide (2026)
To migrate from MT4 to MT5: 1) Verify your EA has an MT5 version (.ex5), 2) Open a new MT5 account with your broker, 3) Install MT5 and the MT5 EA, 4) Transfer your settings manually (they do not auto-migrate), 5) Test on demo for 1-2 weeks before going live. MT4 EAs cannot run on MT5 -- you need platform-specific files.
I have helped many traders migrate from MT4 to MT5, and the biggest misconception is that it is a simple file transfer. It is not. MT4 and MT5 are fundamentally different platforms with incompatible file formats, different programming languages, and separate account systems. However, the migration process is straightforward once you understand what transfers, what does not, and the correct order of operations. This guide on how to migrate from MT4 to MT5 covers every step, including the decisions you need to make before committing to the switch.
In This Guide
Should You Migrate to MT5?
Before starting the migration process, evaluate whether switching platforms makes sense for your trading setup. Here are the scenarios where migration is and is not worthwhile:
Migrate to MT5 If
- Your broker is phasing out MT4 support
- You need better backtesting with real tick data and multi-currency testing
- You want access to more timeframes (21 vs 9 on MT4)
- Your EA provider recommends MT5 for better performance
- You trade stocks or other asset classes alongside forex (MT5 supports more)
Stay on MT4 If
- Your EA only has an MT4 version with no MT5 alternative
- Your current setup is profitable and stable
- Your broker has strong MT4 support with no plans to discontinue
- You rely on MT4-specific indicators that have no MT5 versions
Key Platform Differences
Understanding these differences prevents surprises during migration:
| Feature | MT4 | MT5 |
|---|---|---|
| Programming language | MQL4 | MQL5 (object-oriented) |
| EA file format | .ex4 / .mq4 | .ex5 / .mq5 |
| Timeframes | 9 | 21 |
| Pending order types | 4 | 6 (+ Buy/Sell Stop Limit) |
| Strategy Tester | Single symbol | Multi-symbol, real ticks |
| Position system | Hedging only | Hedging + Netting |
| Built-in market | Limited | Full MQL5 Market |
| Economic calendar | Not built-in | Built-in |
Critical: MT4 and MT5 are not compatible. You cannot drag an .ex4 file into MT5 and expect it to work. The platforms use entirely different programming languages. Every EA, indicator, and script must have a dedicated MT5 version compiled specifically for MetaTrader 5.
Step 1: Check EA Availability for MT5
The first and most important step is confirming your EA has an MT5 version:
- Contact your EA provider and ask if an MT5 version (.ex5) is available
- If available, confirm it has the same features and strategy as the MT4 version
- Ask about license compatibility -- some providers give free MT5 versions to existing MT4 customers, others charge separately
- Check for any known differences in performance between the MT4 and MT5 versions
If your EA does not have an MT5 version, your options are limited: you can stay on MT4, find a similar EA with MT5 support, or commission a developer to port the EA to MQL5 (this can be expensive and time-consuming).
Step 2: Open an MT5 Account with Your Broker
MT4 and MT5 use separate account systems. You need a new account:
- Log in to your broker's client portal
- Look for "Open New Account" or "Additional Accounts"
- Select MetaTrader 5 as the platform
- Choose your account type (Standard, ECN, etc.)
- Select Hedging mode if available (most EAs require this)
- Fund the new account or transfer funds from your MT4 account
Keep both accounts active. Do not close your MT4 account until you are fully satisfied with the MT5 setup. Run both in parallel during the transition period. This way, your MT4 EA continues trading while you test on MT5.
Step 3: Install MetaTrader 5
- Download MT5 from your broker's website (not from the generic MetaQuotes download page -- your broker's version connects to their servers)
- Install MT5 alongside MT4 -- they do not conflict
- Log in with your new MT5 account credentials
- Verify XAUUSD (or your trading symbol) is available in Market Watch
Step 4: Install Your MT5 EA
Follow the standard MT5 EA installation process:
- In MT5, go to File → Open Data Folder
- Navigate to MQL5 → Experts
- Copy the .ex5 EA file into this folder
- Return to MT5 and right-click Navigator → Refresh
- The EA should appear under Expert Advisors
For detailed MT5 installation instructions, see our complete MT5 EA installation guide.
Step 5: Transfer Your Settings
EA settings do not automatically transfer between platforms. You need to manually configure them:
- Open your MT4 EA properties and note down all settings in the Inputs tab
- If you saved a .set preset file on MT4, you cannot directly load it in MT5 -- the format may differ
- Attach the MT5 EA to a chart and manually enter each setting
- Pay special attention to these settings that often differ between versions:
- Symbol name: May have different suffix on MT5 (e.g., XAUUSD vs XAUUSD.mt5)
- Spread units: Verify whether spread is in points or pips
- Lot increments: MT5 may support smaller lot steps
- Save a new .set preset file on MT5 once settings are confirmed
Step 6: Test on Demo Before Going Live
This step is non-negotiable. Always validate on a demo account first:
- Open an MT5 demo account with your broker
- Install and configure the EA with your planned live settings
- Run both MT4 (live) and MT5 (demo) simultaneously for 1-2 weeks
- Compare trade entries, exits, and overall performance
- Verify magic numbers, trade comments, and order management work correctly
- Only switch your live trading to MT5 once demo results are satisfactory
Pro tip: Use Myfxbook to track both your MT4 live and MT5 demo accounts simultaneously. This gives you a clear side-by-side comparison of EA performance on each platform before you commit to the switch.
What Transfers and What Does Not
| Item | Transfers? | Action Required |
|---|---|---|
| EA files (.ex4) | No | Get MT5 version (.ex5) |
| Indicators | No | Get MT5 versions |
| Templates | No | Recreate in MT5 |
| EA settings (.set) | Partially | May need manual re-entry |
| Trade history | No | Stays in MT4 account |
| Funds | Yes | Internal transfer via broker |
| License keys | Varies | Check with EA provider |
| Open positions | No | Close on MT4, reopen on MT5 |
Migration Timeline
I recommend this timeline for a smooth, risk-free migration:
- Week 1: Install MT5, set up demo account, configure EA
- Week 2-3: Run MT5 demo alongside MT4 live, compare performance
- Week 4: If results match, fund MT5 account and start live trading with reduced risk
- Week 5+: Gradually increase MT5 risk while reducing MT4 activity
For proper risk configuration during transition, see our lot size guide for $1,000 accounts.
Frequently Asked Questions About Migrating MT4 to MT5
Can I transfer my MT4 EA to MT5?
No. MT4 EAs (.ex4/.mq4) are incompatible with MT5. The MQL4 and MQL5 programming languages are fundamentally different. You need an MT5-specific version (.ex5/.mq5). Contact your EA provider to check availability.
Will I lose my trade history when migrating to MT5?
Your MT4 trade history stays in your MT4 account and can still be viewed there. MT5 starts fresh. If you use Myfxbook, your historical data remains linked to the MT4 account separately.
Do I need a new broker account for MT5?
Yes, in most cases. MT4 and MT5 use separate account systems. Contact your broker to open an MT5 account. Some brokers let you maintain both simultaneously for a gradual transition.
Is MT5 better than MT4 for EA trading?
MT5 offers better backtesting with real tick data, more timeframes (21 vs 9), and multi-currency strategy testing. However, MT4 has a larger EA library and broader broker support. The best choice depends on your EA and broker.
Can I run both MT4 and MT5 at the same time?
Yes. They are completely independent programs. You can install and run both simultaneously. Many traders run both during transition to compare EA performance before fully committing.