Ultima Markets MetaTrader 4 (MT4)

MetaTrader 4 at Ultima Markets is a legacy choice: it exists for traders who already own working MQL4 code and would have to rewrite it to move on.

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MetaTrader 4 is worth choosing at Ultima Markets for one reason: you already run MQL4 code that works. MQL4 and MQL5 are not compatible without modification — entry points are renamed, Ask, Bid and Bars no longer exist, the timeseries arrays are gone, and the 8-buffer indicator limit is replaced by a differently indexed one. If none of that describes you, the choice is not between two terminals but between a 2005-era toolset and a 2010-era one.

MetaTrader 4 (MT4) at Ultima Markets

MQL4 and MQL5 are different languages: a program written for one does not run on the other without modification (MetaQuotes migration documentation, read 15 September 2026)
Every automated strategy needs its entry points renamed — init() becomes OnInit(), deinit() becomes OnDeinit(), and start() splits into OnTick() for an automated strategy, OnCalculate() for an indicator and OnStart() for a script
Predefined variables MQL4 code leans on — Ask, Bid, Bars — do not exist in MQL5, and neither do the timeseries arrays Open[], High[], Low[], Close[], Volume[] and Time[]
MQL4 caps an indicator at 8 buffers; MQL5 removes that limit but indexes buffers the other way round, so ported code reads the wrong end of the series until it is fixed
MetaTrader 4 ships 9 timeframes, 30 built-in indicators, 23 analytical objects and 3 execution modes, against 21, 38, 44 and 4 in MetaTrader 5
A compiled strategy you hold without its source is the one case that cannot be migrated at all

Which Ultima Markets platform should you use?

Terminal selection is decided on the account side, not in the terminal: the side-by-side comparison of pricing model, devices and what each platform suits lives on the MetaTrader 5 page, together with installation and the cent-denominated tiers.

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The only honest reason to pick MetaTrader 4 in 2026

Not speed, not reliability, not the chart. The reason is inventory: a strategy already encoded in MQL4, tested by you, and working. The vendor documentation is blunt about what moving it costs: the two languages are close in intent and incompatible in practice.

If you are starting from nothing, there is no inventory to protect, and this page is describing a cost you do not have.

What a port actually rewrites

The changes below are set out in the vendor’s own MQL4-to-MQL5 migration documentation, read on 15 September 2026. Three entry points change name and meaning: init() to OnInit(), deinit() to OnDeinit(), and start() to OnTick(), OnCalculate() or OnStart() depending on whether the program is an automated strategy, an indicator or a script. Predefined variables go next — Ask, Bid and Bars simply do not exist in MQL5 — and with them the timeseries arrays Open[], High[], Low[], Close[], Volume[] and Time[], each replaced by a function call.

Then the subtle one: MQL4 allows an indicator at most 8 buffers, MQL5 removes the ceiling but indexes buffers in the opposite direction. Code that compiles cleanly after the rename can still read the series backwards, which is the failure that survives a quick test and shows up in live trading.

What does not survive the move, and who should stay

A compiled strategy held without its source is the hard stop. There is no conversion path, no recompilation and no vendor tool that turns one into the other — if the author is gone, the strategy is tied to MetaTrader 4 for as long as you want to run it.

So the decision is inventory arithmetic, not preference. Traders with source code and time to re-test have a migration project. Traders with a compiled black box have a reason to stay. Traders with neither are choosing a terminal that publishes 9 timeframes, 30 indicators, 23 analytical objects and 3 execution modes over one that publishes 21, 38, 44 and 4 and, on the same vendor page (read on 15 September 2026), both netting and hedging position accounting, which MetaTrader 4 does not have — and the account side of that choice is set out on the MetaTrader 5 page, which is where terminal selection, installation and the cent-denominated tiers are covered. Where the platform figures on this page come from, and on what date they were read, is set out on how a figure gets published.

Frequently asked questions

Will my MT4 automated strategy run on MetaTrader 5?

Not as it stands. The published migration documentation is explicit: init() becomes OnInit(), deinit() becomes OnDeinit(), and start() becomes OnTick(), OnCalculate() or OnStart() depending on the program type. That is a code change, not a setting.

What breaks first when MQL4 code is ported?

The variables that were always there. MQL5 has no Ask, Bid or Bars, and no Open[], High[], Low[], Close[], Volume[] or Time[] arrays — each has to be fetched through a function instead.

I only have the compiled file, not the source. Can it be converted?

No. A compiled strategy without its source cannot be migrated: there is nothing to rewrite.

What do I give up by staying on MetaTrader 4?

By the platform's own published counts: 9 timeframes instead of 21, 30 built-in indicators instead of 38, 23 analytical objects instead of 44 and 3 execution modes instead of 4.