If you’re weighing Amibroker vs MetaTrader 5 as your backtesting software, here’s the bottom line: Amibroker offers more control and flexibility for designing, testing, and optimizing trading systems, while MetaTrader 5 (MT5) provides a smoother experience for broker integration and automated execution, especially in Forex and CFD markets.

But here’s the kicker, your decision depends on what you’re building: a fully systematic edge backed by robust backtests, or a semi-automated system focused on execution. Let’s compare them side-by-side so you can choose the right tool for your trading goals.

Amibroker is a standalone desktop application with a one-time license fee. It runs only on Windows natively, though Mac users can use it via Parallels or Bootcamp, not ideal, but workable. The tradeoff? You get a lightning-fast backtesting engine and a serious system development environment .

MetaTrader 5 is free and supported by most retail brokers. It runs on Windows, has web and mobile access, and supports Mac via VM as well. It’s more accessible, especially for traders focused on Forex or CFDs.

If you value system building, go Amibroker. If you need broker integration out of the box, MT5 wins here.

Amibroker’s strength lies in system development. AFL (Amibroker Formula Language) lets you define complex rules, portfolio-level position sizing, and dynamic entries and exits. It’s designed for the system trader who wants full control.

MT5 uses MQL5, a powerful C-style language, but it’s more complex to master. The workflow leans toward developing Expert Advisors (EAs), which are tightly tied to brokers and focused on execution, not just research.

This is where the fork in the road appears.

Amibroker: Lightning-fast backtesting (millions of bars per second). Supports portfolio-level backtests, advanced metrics, walk-forward analysis, and position sizing.

MT5: Slower but very realistic trade-by-trade simulation. Great for execution scenarios, slippage modeling, and broker-side constraints.

Want to test 100s of systems rapidly and analyze risk across a diversified portfolio? Amibroker is unmatched here.

Amibroker includes walk-forward testing, parameter sensitivity analysis, Monte Carlo simulation, and even multi-core processing for optimization. You can stress-test strategies against changing market conditions and avoid curve fitting .

MT5 has genetic optimization and can simulate slippage and latency, which is useful for real-time traders. But its optimization features are more execution-focused than research-driven.

Bottom line: If robustness is your goal, Amibroker gives you the better toolkit.

Amibroker: Best-in-class charting, multi-timeframe support, and extremely flexible scanning. But automation is limited without third-party tools (e.g. IBController).

MT5: Native automation via Expert Advisors, good charting for Forex, and seamless broker execution. But limited support for equities and complex strategy filtering.

If charts and scan customization matter, Amibroker wins. For hands-free trading with your broker, MT5 delivers better out-of-the-box automation.

Amibroker’s official documentation is detailed but technical. The user community is strong, though support is largely forum-based. That said, the knowledge base at Enlightened Stock Trading (and in our courses) makes it far easier to master.

MT5 has better documentation for beginners and lots of broker-provided videos, but quality varies. Community support is broad but often filled with conflicting advice or broker-centric bias.