After its initial release with FxPro, cTrader has been the platform of choice for a number of other leading ECN brokers.
It is often compared with its rivals MT4 and MT5 for functionality and ease of access.
If you are wondering what the hell is cTrader, then this guide is for you. We are going to break down what cTrader is and what are some of its key features.
What is cTrader?
Spotware Systems Ltd, an award-winning fintech provider, created the cTrader platform. The platform is designed specifically for use with ECN (Electronic Communication Network) brokers.
cTrader was developed to address the specific needs of no-dealing-desk brokers; as a result, the trading platform includes a number of resources that significantly improve the efficiency of simple and direct executions.
You can have access to cTrader through your brokerage firm and can use it on your desktop and mobile.
cTrader features
1. User-friendly interface
At first glance, the cTrader platform appears to be neat and welcoming. It provides a friendly atmosphere and a nearly self-explanatory workspace.
It’s so clean and well-organized that you won’t have any difficulty navigating the interface and quickly becoming acquainted with the platform. Actually, the design was intended to be simple so that navigation would be almost compelling for you.
2. cTrader charts
The interface includes a well-designed charting area that is simple to use; however, the charts can be customized and detached at any time. cTrader offers a range of chart modes, colour schemes, and timeframes, resulting in a very relaxed trading experience.
Three chart modes allow you to organize the charts in your workspace in a variety of ways. You have the option of using a multi-chart, a single-chart, or a free chart.
The first will display all open charts lined up, one beside the other. The second will fully expand one chart on the screen, while the third will allow you to organize all of the charts in the sizes and locations of your choice.
3. cTrader indicators
The platform offers a variety of indicators for your benefit. You’ll have access to over fifty indicators, including Moving Averages, MACD, Stochastic Oscillator, and Bollinger Bands.
The indicators are classified into four types: trend, oscillator, volatility, and volume.
4. Timeframe
In terms of timeframes, you can access the standard 1, 5, and 15-minute timeframes within the 1-hour timeframe, but cTrader provides additional options ranging from 45, 20, and 10 down to 1 minute. Overall, cTrader has a wider range of timeframes than other platforms.
5. cAlgo
The cTrader platform includes cAlgo features, which allow traders to create robots, custom indicators, and even perform various strategies and back-testing. cAlgo operates with the C# language and the.NET platform. cAlgos are also known as cBots.
6. Execution
A column on the platform’s left side contains a list of currency pairs or other instruments with bid/ask quotes, such as MT4 and MT5.
When you click on either pair, the quote expands and allows you to place an immediate order.
A single or double-click (depends on your choice) on the Buy or Sell quote will request an instant market order.
Since this platform is designed to be used with ECN brokers, you can expect fair execution.
7. Unique features
cTrader is intended for use with brokers that have no-dealing-desk, i.e., real-time market trading. This ensures that you are engaging in a real-world transaction with a real-world counterparty when you buy or sell an instrument.
To function more efficiently in this type of real market, cTrader provides many features that most traders aren’t aware of, such as:
- The platform always shows which financial centres are open during regular market hours.
- When trading in the real market with an ECN or SMTP trader, you can see how much of the instrument is actually available for selling and buying at specific rates. This can be extremely useful knowledge for traders. When you place a limit trade, the “depth of market” is shown very clearly in the lower section of the order ticket
- Ctrader provides an economic calendar with market-specific details from the Active Symbol view, eliminating the need for the trader to consult a calendar outside of the platform when placing an order.
cTrader vs. MT4/MT5
There has been a constant debate in the trading community about cTrader and MetaTrader platforms. Some users find MT4/MT5 easy to use, while others opt for cTrader.
So, we thought it’s a good idea to compare cTrader with MT4 and MT5.
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- User Interface: cTrader is known for its smooth, easy-to-navigate, and intuitive interface. Though the success of MT4 and MT5 is undeniable, the cTrader platform wins this round in terms of user interface and ease of use
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- Auto-trading: MT4 and MT5 have Expert Advisors for auto-trading that are simple to use, flexible, and suitable for both novice and experienced traders. cAlgo is cTrader’s counterpart, and it can be programmed in C#.
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MT4 and MT5 are widely regarded as having the best-automated features for their auto-trading tools. In addition, since MT4 and MT5 have such a large online community, it is easier for users to find support for these platforms on the internet, while support for cTrader is more difficult to find.
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- Market Depth: Understanding market depth is important for traders because it allows them to access liquidity and enter trades at exact points. cTrader provides three market depth measurement options: standard depth, price depth, and VWAP depth.
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However, only one market depth feature is available in MT4 and MT5. When it comes to providing traders with a comprehensive view of market depth, cTrader outperforms Meta platforms.
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- Customization: While cTrader does not enable users to customize indicators and programs, MT4 and MT5 have several resources that allow the framework to be completely configured, with or without programming knowledge.
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When comparing MetaTrader 4 to cTrader, a key point to remember is many differences are due to personal trading preferences.
In conclusion
Without a doubt, cTrader is more user-friendly. It combines the sleek visuals of web-based platforms with the smooth operation of a well-designed system.
