Definition
MetaTrader (MT4/MT5)
The dominant retail forex platforms; MT5 is the modern multi-asset version most prop firms now offer.
MT4 is legacy but beloved for its EA ecosystem; MT5 adds more timeframes, depth of market and asset classes. Firms increasingly offer MT5 plus alternatives (cTrader, DXtrade, TradeLocker, or proprietary platforms).
Platform choice matters for automation: EA compatibility and firm-side plugin rules differ between them.
Related terms
General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.