XM MT4 or MT5? Differences, Which to Choose, and Cashback on Each Platform
Short answer: choose MT4 if you rely on existing MQL4 Expert Advisors or indicators, and MT5 if you want more timeframes, built-in depth of market and an economic calendar. Your cashback does not depend on the platform: XM's partner terms calculate commission by the instrument traded and the account type, so with official XM partner code CBT90 you get the same rate per lot on MT4 and MT5 — for example $9.00 per lot of Gold on a Standard account.
Does MT4 or MT5 change your XM cashback?
No. Under XM's partner terms, the commission that funds your cashback is calculated by the financial instrument traded and the trading account type. The platform is not part of that calculation. So the same lot of Gold on a Standard account earns the same cashback whether you trade it on MT4 or MT5. Rates for accounts opened with official XM partner code CBT90:
| Symbol (account) | On MT4, per lot | On MT5, per lot |
|---|---|---|
| GOLD / XAUUSD (Standard) | $9.00 | $9.00 |
| BTCUSD (Standard) | $10.60 | $10.60 |
| GBPUSD (Standard) | $5.30 | $5.30 |
| EURUSD (Standard) | $4.80 | $4.80 |
| GOLD# (Ultra Low) | $3.70 | $3.70 |
| EURUSD# (Ultra Low) | $1.80 | $1.80 |
What does change the rate is the account type: Standard and Micro use the Standard table, Ultra Low uses the lower # table. That choice is explained in Standard vs Ultra Low cashback. Every symbol is on the rates table.
XM MT4 vs MT5: the main differences
XM offers both MetaTrader 4 and MetaTrader 5, each on PC, Mac, WebTrader and mobile apps. Both support one-click trading and Expert Advisors. The differences are in the tools:
| Feature | MT4 | MT5 |
|---|---|---|
| Chart timeframes | 9 | 21 |
| Pending order types | 4 | 6 (adds Buy Stop Limit and Sell Stop Limit) |
| Indicators (as listed by XM) | Over 50 indicators and charting tools | Over 58 indicators and 44 analytical objects |
| Depth of Market | Not built in | Built in |
| Economic calendar | Not built in | Built in |
| Expert Advisors | MQL4 — the largest library of ready-made EAs and indicators | MQL5 — MQL4 programs do not run here without rewriting |
| Position accounting | Hedging | Netting or hedging, set per account |
| Extra on XM | XM MT4 Multiterminal (several accounts from one window) | — |
XM states that hedging is available as standard on all its account types. Before you choose, check that the instruments you plan to trade appear in the platform's symbol list.
Which should you choose?
Choose MT4 if you already run an MQL4 Expert Advisor or custom indicator, you follow tutorials written for MT4, or you manage several accounts and want XM's MT4 Multiterminal.
Choose MT5 if you are starting fresh, you want more timeframes for multi-timeframe analysis, you use depth of market or the built-in calendar, or you plan to write or buy EAs in MQL5.
If you are unsure, practise on an XM demo account first. The choice is about your tools. It does not change your spreads or your cashback.
Worked example: same volume, same cashback
A trader on a Standard account closes 15 lots of Gold and 10 lots of EURUSD in a month:
- Gold: 15 × $9.00 = $135.00
- EURUSD: 10 × $4.80 = $48.00
- Total: $183.00 credited to MyWallet over the month — on MT4 or on MT5.
This illustrates how volume adds up; it is not a forecast of what you will trade. Try your own numbers in the cashback calculator.
Can you switch an XM account from MT4 to MT5?
Not directly. You pick the platform when you open a trading account, and each account runs on that one platform. An MT4 login does not work in MT5. A trading account stays on the platform it was opened with. Ask XM support what applies to your profile.
Partner code matters here too. An existing XM account cannot be moved under CBT90 in almost every case — ask XM support, and see changing your XM partner code.
What does not earn cashback on either platform
The same rules apply on MT4 and MT5. Under XM's partner terms, these do not generate commission, so they earn no cashback:
- Trades that last 3 minutes or less.
- Positions closed with "close by" or "multiple close by" — relevant if you hedge.
- Churning (excessive trading only to generate commission).
- If part of your margin is funded by an XM bonus, cashback is reduced proportionally.
How to get cashback on MT4 or MT5
- Open an XM account with official XM partner code CBT90 and pick MT4 or MT5 in the form. Step-by-step guide →
- Choose Standard for the higher per-lot rate, or Ultra Low for tighter spreads.
- Trade from 0.01 lot. Cashback for each closed lot is credited to your MyWallet the next day — no claim needed, no cap, and your spreads stay the same.
CashBackXM is an independent cashback service and an official XM partner (code CBT90). We are not XM and never hold your funds; XM credits the cashback directly to your own MyWallet. Trading CFDs on leverage carries a high risk of loss. Cashback lowers your cost per lot but does not change the risk of any trade.
MT4 or MT5 — same cashback per lot.
Open your XM account under official XM partner code CBT90 — $9 per lot of Gold, credited to your MyWallet the next day.
XM MT4 vs MT5 — questions traders ask
Should I choose MT4 or MT5 on XM?
Choose MT4 if you use existing MQL4 Expert Advisors or indicators. Choose MT5 if you want 21 timeframes, built-in depth of market and an economic calendar, or you are starting fresh. Both are available on PC, Mac, WebTrader and mobile.
Is cashback different on XM MT4 and MT5?
No. XM's partner terms calculate commission by the instrument traded and the account type, not the platform. With partner code CBT90, 1 lot of Gold on a Standard account returns $9.00 on MT4 and on MT5.
What is the main difference between XM MT4 and MT5?
MT5 has more timeframes (21 vs 9), more pending order types (6 vs 4), built-in depth of market and an economic calendar, and uses MQL5. MT4 uses MQL4 and has the larger library of ready-made EAs and indicators.
Can I change my XM MT4 account to MT5?
Not directly. The platform is set when the trading account is opened, and an MT4 login does not work in MT5. A trading account stays on the platform it was opened with. Ask XM support what applies to you.
Do MT4 Expert Advisors work on XM MT5?
No. MT4 EAs are written in MQL4 and must be rewritten in MQL5 to run on MT5. XM supports Expert Advisors on both platforms.