# What is MetaTrader 4 and 5?

> MetaTrader 4 and MetaTrader 5 are MetaQuotes' retail trading platforms, long the default for forex and CFD prop firms, with access now subject to MetaQuotes' own licensing decisions.

- Source: https://pipvalley.com/glossary/metatrader
- Publisher: PipValley - web design studio for prop trading firms
- Updated: 2026-10-03

In a prop firm, MetaTrader (MT4 and MT5) is the platform most forex traders already know, with a large ecosystem of expert advisors, indicators and trade copiers. MT5 is the current product; MT4 is the older one that many traders still prefer.

Prop firms typically access MetaTrader through a broker partner or a white-label provider rather than holding their own server license. MetaQuotes has tightened how its platforms can be used for prop trading, and in 2024 a number of firms had to change platform or pause US clients after MetaQuotes license actions affecting their providers.

Because availability depends on MetaQuotes and the provider in between, firms that rely on MetaTrader usually offer a second platform as well.

## Why it matters

MetaTrader is still a strong conversion signal for forex traders, but it is not a platform you control. Check your provider's current terms in writing, plan a second platform, and make sure your website lists platforms from a single data source so you can update them everywhere at once if access changes.