MT5 is an advanced trading platform that offers additional functionalities compared to MT4, including support for more financial markets like stocks, futures, and options, along with forex. It features more technical indicators, graphical tools, and timeframes, enhanced order handling capabilities (such as more pending order types), and a built-in economic calendar. MT5 also supports a full-fledged scripting language, MQL5, which is more powerful and versatile than MQL4 used in MT4.