Which Backtesting Software is Best for Systematic Traders?

Optuma VS Metatrader 5: Which Trading Software is the Best? - Table of Contents

Optuma VS MetaTrader 5: Comparing Backtesting Software for Systematic Trading

If you’re comparing backtesting software for systematic trading, Optuma and MetaTrader 5 (MT5) offer vastly different capabilities and user experiences.

In short: Optuma is better suited to traders who need advanced market analysis, custom scripting, and institutional-grade charting. MetaTrader 5 excels in automated execution and forex-centric strategy development but lacks depth for stock-based system traders.

Let’s break down where each trading software shines (and where it falls short) so you can decide which is right for your trading systems.

Optuma VS MetaTrader 5 at a Glance:

Short on time? Here’s how Optuma VS MetaTrader 5 compare side by side.

Feature	Optuma	MetaTrader 5 (MT5)
Year Released	1996	2010
Operating Systems	Windows; Web via Remote Desktop	Windows, Mac (via emulation), Web
Cost	Paid: $810–$2,300+/yr	Free via brokers
Backtesting Engine	Basic testing; portfolio-level in Enterprise	Strategy Tester (single symbol)
Strategy Language	OSL (proprietary scripting)	MQL5 (C-style coding)
Charting	Institutional grade, flexible	Basic to intermediate
Broker Integration	Interactive Brokers	Wide broker integration
Automation	Limited (via broker plugin)	Strong (via Expert Advisors)

Platform Overview, Cost & Compatibility

Optuma is a paid, professional-grade desktop platform built primarily for technical analysis. It runs on Windows, and Mac users must use emulation (e.g. Parallels or Bootcamp). The pricing structure starts around USD $810 per year for retail traders, with higher tiers for professionals.

MetaTrader 5 (MT5), by contrast, is free to use when provided by a broker. It’s a staple in the forex and CFD trading world. It supports Windows natively, has a web version, and can run on macOS via virtualization.

If cost is your primary concern and you’re focused on forex or crypto, MT5 is appealing. But for stock market system traders, Optuma’s feature depth and flexibility justify the investment.

Optuma Main View:

MetaTrader 5 Main View:

Market Access & Data Support in Optuma VS MetaTrader 5

Optuma supports a wide range of asset classes: equities, ETFs, futures, forex, indices, and even cryptocurrencies via Norgate and other data vendors. It’s well-suited to global stock traders using EOD (end-of-day) data.

MT5 focuses primarily on forex and CFD instruments, with real-time data fed directly from your connected broker. While it technically supports stocks and futures, its depth in these areas is limited compared to purpose-built trading software.

Optuma Backtesting Interface:

MetaTrader 5 Backtesting Interface:

Building & Customizing Trading Strategies

Optuma uses its own scripting language (OSL) for building strategies and indicators. It’s designed for traders with an analytical mindset who want control without necessarily coding in a traditional language. However, it’s not intuitive for those without scripting experience, and there’s a learning curve.

MT5, on the other hand, uses MQL5, a C-style language ideal for developing Expert Advisors (EAs), custom indicators, and scripts. It’s powerful but requires programming knowledge. The built-in MetaEditor and strategy tester provide a smooth developer experience for those comfortable with code.

If your focus is rapid system prototyping without writing full C-style programs, Optuma offers more accessibility.

Check Out: Trading System Development

Optuma Code Editor:

MetaTrader 5 Code Editor:

Backtesting Performance, Speed & Realism

This is where the differences matter most for systematic traders.

Optuma’s backtesting is more focused on single-symbol testing and requires the Enterprise version for true portfolio-level testing and walk-forward analysis. There’s also less transparency on slippage modeling, position sizing, and execution constraints.

MT5 is fast but limited: It’s built primarily for single-symbol testing. You cannot simulate a true portfolio, and most tests assume perfect fills without accounting for capital allocation across strategies.

For realistic, system-based backtesting across multiple markets or systems, MT5 is inadequate. Optuma is better, though it still falls short of best-in-class tools like RealTest.

Check out: Backtesting | Drawdown

Optuma Backtest Report:

MetaTrader 5 Backtest Report:

Strategy Optimization & Stress Testing Tools

Optuma supports walk-forward testing, Monte Carlo analysis, and parameter scans. It’s suitable for exploring robustness across a wide range of inputs, though it can be computationally intensive.

MT5 provides brute-force and genetic optimizations within its Strategy Tester. It’s efficient and visually intuitive but mainly focused on parameter tweaking, not robustness validation. Monte Carlo testing is absent.

If you want to perform proper trading system optimization with robust statistical analysis, Optuma gives you more control and deeper insights.

MetaTrader 5 Genetic Optimization:

Charting Features, Signal Exploration & Live Execution

Optuma is a leader in institutional-grade charting. Its visual tools are highly configurable, with deep scanning and signal generation features. Traders can create complex custom indicators and visualizations across multiple timeframes.

However, Optuma’s execution capabilities are limited. While Interactive Brokers is integrated for order placement, automation is not core to the platform.

MT5 offers decent charting, but it’s more basic. Scanning features are rudimentary without additional plugins or manual coding. Where MT5 shines is in automation: You can fully automate trade execution with Expert Advisors across supported brokers.

In short:

Use Optuma for market analysis and scanning.
Use MT5 if you need low-latency automated execution (especially for forex).

Check Out Order Types | Automated Trading Systems

Optuma Automation Set Up:

MetaTrader 5 Automation Set Up:

Support, Documentation & Learning Resources

Optuma has a steep learning curve but offers a professional support system. The documentation is detailed, though not always beginner-friendly. Training materials are more geared toward institutional users.

MT5 benefits from a massive online community, with forums, tutorials, and thousands of third-party scripts. However, the official documentation is limited, and much of the community content is outdated or of low quality.

Compared to RealTest’s modern, concise docs, both platforms could improve. But MT5 is easier to find help for, especially for coding-related questions.

Optuma Forum Front Page is illustrated down below:

MetaTrader 5 Forum Front Page is illustrated down below:

Optuma VS MetaTrader 5: Which One Should You Use?

If your priority is realistic, rules-based portfolio backtesting and advanced market analysis, Optuma is the better choice. It supports EOD data, custom scripting, and multi-system testing – all key for a disciplined, systematic trader.

If you trade primarily forex or CFDs, want automated execution, and are comfortable with programming, MetaTrader 5 is hard to beat, especially at the price point (free).

But if you’re serious about becoming a consistent, confident trader, neither tool is the endgame.

Our Recommendation

Optuma is a strong backtesting platform for discretionary-to-systematic traders who want to visually scan, script, and test strategies across global stock markets.

MetaTrader 5 is best for automated forex trading with brokers that support it.

But for system traders focused on speed, realism, and portfolio-level backtesting, we recommend RealTest as the preferred backtesting software.

RealTest outperforms both Optuma and MT5 in:

Realistic multi-system simulation
Ease of use for non-coders
Simplicity and clarity of strategy design
Seamless integration with end-of-day workflow

Want The Rest of the Puzzle?

Backtesting software is just one piece. The real transformation happens when you align your tools, your systems, and your psychology with your goals.

If you’re tired of chasing tips and want to build wealth systematically, the next step is clear: The Trader Success System.

Inside, you’ll discover:

Proven trading systems
A step-by-step backtesting framework
Position sizing tools
Automation strategies that let you trade in 30 minutes or less

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Trading and Backtesting Software Review List

Check our our Trading and backtesting software review hub

Adrian Reid Founder and CEO

Adrian is a full-time private trader based in Australia and also the Founder and Trading Coach at Enlightened Stock Trading, which focuses on educating and supporting traders on their journey to profitable systems trading. Following his successful adoption of systematic trading which generated him hundreds of thousands of dollars a year using just 30 minutes a day to manage his system trading workflow, Adrian made the easy decision to leave his professional work in the corporate world in 2012. Adrian trades long/short across US, Australian and international stock markets and the cryptocurrency markets. His trading systems are now fully automated and have consistently outperformed international share markets with dramatically reduced risk over the past 20+ years. Adrian focuses on building portfolios of profitable, stable and robust long term trading systems to beat market returns with high risk adjusted returns. Adrian teaches traders from all over the world how to get profitable, confident and consistent by trading systematically and backtesting their own trading systems. He helps profitable traders grow and smooth returns by implementing a portfolio of trading systems to make money from different markets and market conditions.

See Full Bio

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Optuma VS Metatrader 5: Which Trading Software is the Best?