MT5 is the next level platform in the MetaTrader platform series. Despite maintaining many MT4 features, there are several improvements and direct changes that have been included.
There is still a lot of confusion about what Metaquotes wants to do with MT4 and MT5. Originally launched as a substitute for MT4, MT5 found it difficult to achieve the type of market penetration that MT4 acquired.
So Metaquotes seems to be quite satisfied with allowing retail brokers to walk with both platforms. Some forex brokers have tried to encourage the use of MT5 by only allowing certain trading assets on MT5.
So it’s not surprising that you will see some brokers who only offer stock CFDs or cryptocurrency on the MT5 platform they offer.
Consequently, once a beginner finishes with MT4, the next best platform to master is MT5. The similarity between the two platforms will enable easier MT5 mastery.
Just like MT4, MT5 has a web-based version and is also present as a generic mobile application that can be downloaded from the Android and Google Play Store.