You have definitely heard about eToro due to its famous social investing features and its user-friendly platform. And now, you might be wondering if it supports MetaTrader5 (MT5), the latest version of the industry-leading MetaTrader trading platform, right?
In this article, you will discover if you can trade on the MT5 platform using your eToro account. If not, what are your alternatives? And what are the pros and cons of trading using MT5? So, let’s get straight into it.
Does eToro support MT5?
Unfortunately, eToro does not support the MetaTrader5 (MT5) trading platform (or MT4, for that matter) as they have developed their own in-house trading platform.
This is a deliberate choice rather than a gap in the roadmap. eToro’s proprietary platform is built around features such as CopyTrader and Smart Portfolios, which have no equivalent inside MetaTrader, and the company has not signalled any intention to add MetaTrader support.
Below, you can find the comment of eToro on a question about whether they support MT4 (the same goes for MT5):
eToro alternatives that support MT5
If you are looking for an online broker that does support MT5, you might want to check the below list of alternatives.
Pepperstone
Pepperstone is a CFD broker that allows you to trade CFDs in several asset classes, such as forex, stocks, ETFs, cryptocurrencies, and more. Pepperstone allows you to choose between the MT4 or MT5 platforms plus cTrader and TradingView.
Disclaimer: 72-95% of retail investor accounts lose money when trading CFDs.
FP Markets
Founded in 2005, FP Markets is a regulated CFD and forex broker. It offers forex trading with tight spreads and the platform supports MetaTrader4 and MetaTrader5 trading, alongside cTrader and TradingView.
Disclaimer: 70.25% of retail accounts lose money.
Interactive Brokers
Interactive Brokers is one of the top global discount brokers. It offers you access to an extensive range of markets where you can trade currencies, stocks, options, and many more instruments. It has no native MetaTrader integration, but connecting MT5 is possible through a third-party bridge, which requires setup on your side. Please read this for further details.
IC Markets
IC Markets is an Australian-based broker. Although it offers low spreads and a low minimum deposit of $200 on its Raw spread account, you can only trade limited products on its platform as it focuses on forex and CFD trading. IC Markets supports both the MT4 and MT5 trading platforms, giving you more flexibility in deciding the best option for you.
Disclaimer: 73.08% of retail accounts lose money.
MT5 pros and cons
Pros
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Economic calendar
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38 technical indicators and 44 graphical objects, 82 analytical tools in total
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21 different timeframes
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Can simultaneously display up to 100 currency and stock quote charts
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Developed using MQL5, you can add other trading algorithms to the platform
- Supports centralised markets, so stocks, futures and options as well as forex and CFDs
Cons
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Some features may appear too advanced for beginners
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The MT5 platform is more complex than the MT4 platform
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Programs and expert advisors developed for MT4 will not operate on MT5
- Availability still depends on your broker, as not every broker offers it
What are the differences between MT4 and MT5?
MetaTrader5 (MT5) introduced many new features, including more advanced charting tools than MT4, 12 extra timeframes, an integrated economic calendar, and additional technical indicators.
Although the interfaces are similar, MT5 was not built as a straight replacement for MT4. The two platforms have distinct functions and features, and they were aimed at different user segments: forex traders gravitated to MT4, which was designed around their needs, while MT5 is more commonly used for CFDs, stocks and futures trading.
That said, the balance has shifted. MetaQuotes stopped issuing new MT4 licences to brokers in 2022, so MT4 is now effectively a legacy platform and new broker deployments are on MT5. Brokers with existing MT4 licences continue to offer it, which is why you will still find both.
The following points represent the main differences between MT4 and MT5:
- The MT4 software is written in MQL4, whereas MT5 is written in MQL5, allowing you to create your own trading robots, technical indicators, and scripts;
- Expert advisors, indicators and scripts written for MT4 will not run on MT5, since the two languages are not compatible. Each platform has its own separate library of programs through the MQL5 Market;
- MT5 is more efficient and faster than MT4 since it is a multi-threaded 64-bit platform, whereas MT4 is a single-threaded 32-bit platform;
- MT4 is designed only for decentralized markets, whereas MT5 solves this limitation by allowing you to trade stocks, futures, and commodities, which are asset types traded on centralized trading exchanges;
- One of the most important distinctions is the netting option added to the MT5 platform. MT5 supports both hedging and netting strategies, while MT4 only supports hedging. For example, suppose you enter a long position (buy GBP/USD) and subsequently open another position in the same market. In that case, the initial order becomes one position rather than two independent positions.
There are also further technical differences between MT4 and MT5, but we won’t dive into them here.
Bottom line
Although eToro does not support MetaTrader5 and has not mentioned any plans to do so, we have provided some possibilities if you want an MT5 broker. MT5, like MT4, allows you to access the Forex and CFD markets through a broker, but it also allows you to trade stocks, options, and futures. Whether you use MT4 or MT5 depends on your trading execution and analysis preferences.
The choice is really between two things. If eToro’s social investing and CopyTrader features are what brought you to the platform, no MetaTrader broker will replicate them. If algorithmic trading, custom indicators or automated strategies matter more to you, you will need a broker that offers MetaTrader, and the list above is a starting point.
In conclusion, the features and characteristics of MT5 might not be important to every trader. That’s why some brokers do not support MT5. Still, it might deliver more value if you focus on trading outside the forex market.
FAQs
What is eToro?
Established in 2007, eToro is a pioneer in social investing. It offers investors the ability to copy other traders and is a good platform to connect with other investors, share your investing ideas and learn. It serves more than 40 million registered users, is regulated by several top-tier regulators, and has been publicly listed on the Nasdaq since May 2025 under the ticker ETOR. It offers access to extensive instruments from various asset classes such as currencies, ETFs, CFDs, cryptocurrencies and more. To know more about eToro, you can read our full review.
What is MT5?
MetaTrader is the most popular online trading platform developed by MetaQuotes Software and used globally by traders and investors. Released in 2010, MT5 is a multi-asset trading platform that allows you to trade currencies, CFDs, options, and futures contracts. It provides capabilities for in-depth price analysis across 21 timeframes, and you can use algorithmic trading applications to automate your trades. The platform lets you open up to 100 quote charts simultaneously and includes 38 technical indicators plus 44 graphical objects.
Does eToro support MT4?
No, eToro does not support MT4. It does not support MT5 either, and instead offers its own proprietary web and mobile platform.
Why doesn't eToro offer MetaTrader?
eToro built its platform around social investing features such as CopyTrader and Smart Portfolios, which have no equivalent inside MetaTrader. The company’s own position is that MetaTrader is not compatible with those products, so integrating it would not benefit its community of investors.
