MetaTrader 5, or MT5, is an upgraded version of MetaTrader 4, developed by MetaQuotes in 2010. MT5 offers expanded tools for various markets beyond forex, such as stocks, commodities, cryptocurrency, and futures, with a wider selection of charting options and timeframes for detailed analysis. 

MT5 also includes a built-in economic calendar and news feed to keep traders updated on market events. For algorithmic trading, MT5 uses a programming language called MQL5, which is more advanced than MQL4 in MT4. This allows for more complex trading algorithms and custom indicators. 

The platform is available on desktop, web, and mobile, providing access to a range of trading options for those looking to manage multiple asset classes.