Online trading means trading for financial products like bonds, shares, forex, CFDs, and other financial instruments with online trading platforms or, more precisely, electronic training platforms as an intermediary. The pace at which online trading has picked up in the last few years has been incredible, with more and more traders joining every day. Forex (Foreign Exchange) and CFD (Contract For Difference) have gained immense popularity as they prove to be more profitable than stocks. Thus, there has been an increase in forex and CFD traders, and with this, a simultaneous increase in forex and CFD trading platforms like cTrader to ensure a seamless trading experience for their traders.
What is cTrader?
This is a forex and CFD trading platform developed by Spotware Systems Ltd. It has comprehensive tools and functionalities, which makes it different from all other similar platforms in the foreign exchange market. It is an easy-to-use platform that is available in 14 languages.
The biggest advantage of this platform is that it has a fairly simple and friendly interface, making it a perfect choice for anyone, be it an expert or novice, who doesn’t want to go deep into tackling complex software. It has all the significant elements required to track your orders for a successful trading venture, like timeframes, EAs, indicators, chart kinds, etc.
It offers visual cues to its traders in the form of charts where they can monitor the movement of prices of their financial instruments in real-time alongside giving the flexibility to make their custom indicators in C# or combine other custom indicators for use in manual and automated trading. This platform has an extensive library of technical indicators.
cTrader vs MT4 and MT5
cTrader has often been compared in terms of its interface, design, transparency, accessibility, and many other parameters with its contemporaries MT4 (MetaTrader 4) and MT5 (MetaTrader 5), which are also online trading platforms. MT5 is the successor of MT4 with improved functionality.
Below are some of the parameters cTrader is better and more advanced than MT4 and MT5.
While both are electronic trading platforms, cTrader, compared to MT4 and MT5, has a much simpler and user-friendly interface that is easy to navigate. This makes it an absolute favorite among beginners or even expert investors.
It offers greater accessibility to its users by giving brokers all the versions they offer without charging for each version, whereas MT4 and MT5 charge the brokers for each version they offer. Due to this, brokers do not provide all the versions.
When it comes to transparency, cTrader has a better reputation than MT4 and MT5 because it shows the smallest hidden fee, which can impact the trader’s strategy.
The design of cTrader is much cleaner than in MT4 and MT5 since it only has one chart which occupies its screen, which allows ample space for other features and windows. However, MT4 and MT5 have four charts that occupy most of the screen space with little space for other windows and functionalities.
All the forex and CFD trading platforms have their strengths and weaknesses. Choosing the best platform for an enhanced trading experience is important. And what better than cTrader, which makes it a better and a popular choice among traders with its high-end features and functionalities? Nevertheless, you can always try all the platforms and choose the one that best caters to your needs. Happy trading!