Best Prop Firms with MetaTrader 4 (2026) — MT4

MetaTrader 4 was the retail forex standard for 15 years. Millions of traders built strategies, coded EAs, and learned charting on MT4. But in 2026, the industry has moved on. MetaQuotes (the company behind both platforms) is pushing MT5, and most prop firms have followed. FundingPips, E8 Markets, and BrightFunded all default to MT5.

I have legacy EAs built in MQL4 that still run on MT4. Converting them to MQL5 takes work. If you are in the same position — with MT4-only strategies that generate profit — you need to know which firms still offer MT4 and whether sticking with it makes sense. This page covers the MT4 landscape at prop firms and the practical decision between staying on MT4 or migrating to MT5.

The MT4 Situation in 2026

MetaQuotes stopped issuing new MT4 server licenses to brokers in 2022. Existing licenses continue working, but no new brokers can set up MT4. This means the number of firms offering MT4 will only decrease over time.

For prop firms specifically, the economics favor MT5. Running two platforms (MT4 and MT5) doubles infrastructure costs. Most firms chose to standardize on MT5 because it is newer, faster, and supported long-term by MetaQuotes.

The result: if MT4 is essential to your trading, your prop firm options are limited and shrinking. The practical advice is to migrate to MT5 unless your MT4 strategy is generating significant income and cannot be replicated on MT5.

Which Prop Firms Still Offer MT4?

FTMO is the primary remaining option for MT4 prop trading. Their MT4 offering includes the same challenge structure (10%/5% two-step) and instrument selection as MT5. The MT4 server infrastructure is maintained for existing demand, but new traders are encouraged to use MT5.

Check firm-specific announcements before purchasing. MT4 availability can change with short notice as firms consolidate platforms.

MT4 vs. MT5: The Real Differences

Timeframes. MT4: 9 timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN). MT5: 21 timeframes including M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, H12.

Backtesting. MT4: single-threaded, slow. MT5: multi-threaded, 5-10x faster. A backtest taking 20 minutes on MT4 finishes in 2-3 minutes on MT5.

Order types. MT4: 4 pending order types. MT5: 6, including Buy Stop Limit and Sell Stop Limit.

Programming. MT4: MQL4 (procedural). MT5: MQL5 (object-oriented, faster compilation, better memory management). MQL4 code does not compile on MT5 — conversion is required.

Hedging. MT4: hedging by default. MT5: supports both hedging and netting modes. Most prop firms run MT5 in hedging mode for compatibility.

Assets. MT4: forex-focused. MT5: multi-asset (forex, indices, commodities, crypto). More instruments available on MT5.

For new traders, there is zero reason to start on MT4. MT5 is better in every measurable category. MT4 only makes sense if you have profitable MQL4 EAs that would be expensive to rewrite.

Migrating from MT4 to MT5

If your firm drops MT4 support, you need to migrate. Here is the process:

Indicators. Most popular MT4 indicators have MT5 equivalents. Check the MQL5 marketplace or community forums. Custom indicators need manual conversion from MQL4 to MQL5 syntax.

EAs (Expert Advisors). MQL4 EAs do not run on MT5. Options:

1. Rewrite in MQL5. Full conversion. Takes 2-20 hours depending on complexity. MQL5 is structurally different — not a simple search-and-replace.
2. Hire a developer. MQL5 freelancers on Fiverr or MQL5.community charge $50-$500 for EA conversions.
3. Use a converter tool. Some automated converters exist but produce imperfect results. Manual review is always needed.

Chart templates. MT4 templates (.tpl files) do not transfer to MT5. Recreate your chart layouts manually.

The reality: Most traders migrate within 1-2 weeks. The learning curve from MT4 to MT5 is minimal for manual traders. EA traders face more work depending on code complexity.

When Staying on MT4 Makes Sense

Three scenarios where MT4 is still the right choice:

1. Profitable MQL4 EA that generates $1,000+/month. The cost of rewriting ($50-$500) and the risk of bugs in the new version makes staying on MT4 rational — as long as a firm supports it.

1. Complex indicator suite built over years. Custom indicators with proprietary logic that took months to develop. Migrating represents real work and risk.

1. Multiple MT4 accounts at a firm that still supports it. If your operation runs smoothly on MT4, disrupting it for MT5 has opportunity cost.

If none of these apply, move to MT5. The platform is better, and firm support will only grow for MT5 while MT4 contracts.

FAQ — MT4 Prop Firms 2026

Which prop firms still offer MT4?

FTMO is the primary remaining option. Most other major firms (FundingPips, E8 Markets, BrightFunded) have moved to MT5 only.

Is MT4 being discontinued?

MetaQuotes stopped licensing new MT4 servers in 2022. Existing servers continue working, but the platform is effectively end-of-life. No new features or updates.

Can MQL4 EAs run on MT5?

No. MQL4 and MQL5 are different languages. EAs need to be rewritten or converted for MT5. Automated converters exist but require manual review.

Should I start on MT4 or MT5?

MT5. No question. More firm support, faster backtesting, more timeframes, and long-term viability. MT4 is only for traders with existing MQL4 strategies.

How much does it cost to convert an EA from MT4 to MT5?

$50-$500 depending on complexity. Simple EAs convert in a few hours. Complex multi-currency strategies take longer.

Does MT4 have the same instruments as MT5?

Usually fewer. MT4 is forex-focused. MT5 supports forex, indices, commodities, and crypto CFDs. Firms offering MT4 typically provide the same pairs but fewer non-forex instruments.

Is MT4 faster than MT5?

No. MT5 backtests are 5-10x faster due to multi-threading. Live execution speed is comparable on both platforms.

Can I use MT4 and MT5 simultaneously?

Yes, on your computer. Not on the same prop firm account. If a firm offers both, you choose one per evaluation.

Will MT4 eventually be removed from all prop firms?

Likely. As MetaQuotes phases out support and firms consolidate, MT4 availability will continue decreasing.

Are MT4 indicators available on MT5?

Most popular indicators have MT5 versions. Custom indicators need manual conversion from MQL4 syntax.

Does MT4 support hedging at prop firms?

Yes. MT4 always uses hedging mode. MT5 supports both hedging and netting — most prop firms use MT5 in hedging mode.

Can I trade indices on MT4?

Depends on the firm. Some MT4 offerings include index CFDs (US30, US100). MT5 typically has a wider instrument selection.

Is MT4 cheaper than MT5?

No difference in evaluation pricing. The platform choice does not affect the cost of the challenge.

What is the MT4 mobile app like?

Functional for monitoring and basic trade management. The MT5 mobile app is more polished with better charting. Both are available on iOS and Android.

Should I learn MQL4 or MQL5?

MQL5. MQL4 is a dead-end language with a shrinking ecosystem. MQL5 is the future of MetaTrader automation.