HTTP and SOCKS5 are two protocols for talking to a proxy. An HTTP proxy understands web requests and works at the application layer; a SOCKS5 proxy is a lower-level tunnel that forwards almost any TCP or UDP connection without inspecting it. For most web tasks either works — the choice depends on your tool and traffic.
HTTP(S) proxies
An HTTP proxy is built for web traffic. It reads the request line, can route by host, and for HTTPS it opens a tunnel with the CONNECT method so the encrypted session passes through untouched. Every scraper, browser and HTTP client supports it, which makes it the default for web scraping, SERP work and API calls.
Because it speaks HTTP, it integrates cleanly with header-based tooling and is the simplest to configure — usually just a host, port and credentials.
SOCKS5 proxies
SOCKS5 sits below the application layer and forwards raw packets, so it carries any protocol: HTTP, but also email, game traffic, peer-to-peer, or custom TCP/UDP. It doesn't parse your traffic, which means slightly lower overhead and broader compatibility for non-web tools.
If you only ever make web requests, the practical difference is small. Reach for SOCKS5 when a tool requires it, when you need UDP, or when you're tunneling something that isn't plain HTTP.