cTrader Forex Brokers

Trading Software is developing very fast in the digital era, and even though, there are various new trading platforms, not many traders are attracted to them. It is safe to assume that every trader has at least once heard of or worked with MT4 and MT5 trading platforms. Additionally, there is a new trading platform on the rise within the trading community, i.e., the cTrader.

Choosing the right trading platform for your trading journey is as important as choosing the right trading instruments. That is why you should learn more about the cTrader, its advantages and disadvantages, as well as its differences from the ever-so-popular MT4.

An Introduction to cTrader Platform

Introducing cTrader Platform

cTrader is an advanced trading platform developed and released by Andrey Pavlov and Ilya Holeu, founders of Spotware Systems in 2011. The reason behind the platform’s popularity is its No-Dealing Desk feature.

This multi-asset CFD and Forex trading platform is designed specifically for fast execution trading with level II pricing, market depth, and advanced tools to help you take your trading to the next level. This platform is designed in such a way as to meet the most demanding traders' expectations.

MT4 vs. cTrader: Which one is better?

1. Accessibility

Almost all retail forex brokers offer the MT4 trading platform to their traders to download for free. In addition, MT4 offers a Demo account, so new traders can try its features with no financial risk whatsoever. MT4 is also accessible in more than 30 languages.

Even though cTrader is not as popular as MT4, many Forex brokers have started to introduce it to their clients. Similar to MT4, cTrader also offers a Demo account, so traders can try its features for free. The cTrader platform is also available in 22 languages.

2. User Interface

MT4 is popular because it is easy to navigate by almost any trader, regardless of their level of experience. Moreover, there are tons of online trading materials and resources to help traders how to use this trading platform.

cTrader has a unique user interface and is highly intuitive. You can switch the color theme to light or dark with a tidy, compact, and dynamic user interface, so new traders can be happy with this platform for a relatively long time.

3. Analytical and Technical Tools

As a beginner-friendly choice, MT4 is equipped with basic charting tools for technical analysis to help traders detect certain trends and patterns. This platform offers 30 built-in indicators to analyze the market and various custom indicators to boot.

Pro traders usually prefer cTrader due to its richer set of technical indicators, time frames, chart types, and order types. Furthermore, compared to MT4, this trading platform offers more advanced charting capabilities.

4. Language and Configuration

There are many indicator plugins and EA robots from other publishers that you can add to the MT4 platform. On top of that, the basic programming language for MT4 is C (MQL4) which is considered common and already widespread as an open source. That is why many traders can set the basic programs to suit their individual trading styles.

Meanwhile, the basic language for cTrader is C# (cAlgo). cTrader also allows you to install new indicator plugins and EA robots. However, cTrader has fewer and more limited indicator plugins and EA robots compared to MT4. This is no cause for concern though, it is expected that this trading platform will have more choices for custom plugins and robots in the future given its increasing popularity among traders.

5. Transparency

Do you know that MT4 does not support direct access to the interbank as a liquidity provider? Meaning it requires a third party to act as a "bridge" to a liquidity provider, which is usually the role played by the broker itself. In other words, the broker can intervene by balancing supply and demand when the market leans toward one direction. That is why there is the possibility of spread and slippage manipulation by the broker.

cTrader, however, is more transparent in this regard. cTrader is designed to be connected to the interbank as a liquidity provider, so there is no need for a bridge. Thus, all data, including spread and slippage, is shown in real time based on that of the global market. This kind of transparency is important for scalpers and traders with huge trading volumes because the data is factual and harder to manipulate.

6. Platform Security

To ensure that all transactions are conducted safely and securely, MT4 uses 128-bit encryption of transferred data between the client terminal and the trading platform’s servers. To meet the highest security standards, MT4 additionally supports the use of RSA digital signatures.

The cTrader platform's servers are protected by proxies with SSL encryption against unauthorized, malicious connections. In addition, each solution is hosted in a segregated and independent environment to avoid any possible interference from other brokers. Customers are not required to provide personal data to operate any trading accounts, and any requested data is subject to strict data protection practices.

7. Trading on the Go

The MT4 web platform is accessible from any browser on any operating system without any extra software installation. You can also make use of its mobile app versions (Android and iOS) with various interactive charts, order types, and technical analysis tools.

As a new favorite, cTrader also allows you to access the market from any device. You can access the web-based version that is compatible with all popular operating systems, or trade on the go, either from your mobile browser or mobile applications for iOS and android. The applications are optimized for tablet displays along with various key features, so you can trade and analyze your trading effectively and easily anywhere in the world.

The table below illustrates the differences between MT4 and cTrader:

Now, it is time to answer THE question: Which one is better for you?

Again, it depends on your trading style, experience level, and preference. If you are a new trader, MT4 is a good choice because of its user-friendly interface and accessibility. However, professional traders who want more transparency and precise data should choose cTrader because of its real-time data and more advanced features.

List of cTrader Brokers

Now that you have learned about the advantages and disadvantages of the cTrader platform, it is time to choose the most suitable cTrader Forex broker for your trading journey.

Even though the trading platform itself is excellent, it does not mean that the forex broker providing it is also reliable. So, you need to choose the most reputable Forex brokers to have a seamless trading experience.

FPMarkets cTrader Broker

Since its establishment in 2005, this Australian-regulated Forex broker has offered access to 10,000+ financial instruments, including Forex, shares, metals, indices, commodities, and bonds to their clients.

Only two accounts are available at FPMarkets: Standard and Raw. The Standard and Raw accounts, either Demo or Live account, can be accessed using the cTrader platform on both desktop and mobile devices, with a minimum deposit of 100 AUD or equivalent and leverage up to 1:30. The spreads for the Standard and Raw accounts start from 1 pip and 0 pip consecutively. There is no commission for the Standard account, but the commission for the Raw account is 3 USD each way.

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RoboForex cTrader Broker

Founded in 2009, RoboForex offers lucrative deals to Forex traders. You can trade in 8 asset classes (Forex, stocks, indices, ETFs, soft commodities, energies, metals, and cryptocurrencies) using EUR, USD, CNY, and GOLD. Moreover, you will trade with this broker with peace of mind since it is regulated by the FSC of Belize.

At RoboForex, various types of accounts are available for different trading needs. However, only ECN and Pro accounts come with the cTrader platform feature. Both ECN and Pro accounts are offered in 36 currency pairs, metals, CFDs, and cryptocurrencies with a minimum deposit of 10 USD or 10 EUR. Furthermore, the maximum leverage amounts for ECN and Pro accounts are 1:500 and 1:2000, respectively. The spread for the ECN account is floating from 0 pip, whereas the spread for the Pro account starts from 1.3 pips.

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