What is CTrader?admin 20 September 2021
what you read here:
After registering with a broker, you need to use a tool called a trading platform so that you can do your trading through that portal. The number of trading platforms in the Forex market is not so high. However, the services that they offer make them distinct from each other. The number of these platforms is gradually increasing at the moment, and there are only 3 prominent options available for traders; MetaTrader 4, MetaTrader 5 and CTrader. In this article, we introduce cTrader and compare its various aspects with other trading platforms.
A brief look at MetaTrader
The development of MetaTrader as a tool that connects traders to the market happened in recent decades. This tool was first introduced in 2006. However, different versions of it were released over time and based on users’ needs. MetaTrader has a better performance compared to other Forex operating systems and also enables CFD trading. Currently, and considering the recent polls, MetaTrader 4 is very popular among users.
However, this does not mean that the performance of other trading platforms is not good. Perhaps one of the reasons for this popularity is that this trading platform has been operating for a longer time compared to other ones. Despite being newer in the markets compared to MetaTrader 4, MetaTrader 5 has achieved a good position among Forex users.
The prominent features of trading platforms such as cTrader
Being Simple and Practical
Simplicity and practicality are some of the most important and primary features of a trading platform. Such software must be designed in a way that both professionals and beginners be able to use it. Therefore, simplicity and user-friendliness are vital for every trading platform.
Execution time of trading platforms
Time is a very important matter in financial markets, especially the forex market. In these markets, losing even one second can change the fate of your trades. Therefore, a suitable trading platform must offer maximum efficiency. Also, the high volatility of the Forex market reduces the likelihood of accurate forecasts. This can have a significant impact on the trading process.
Therefore, a powerful platform must show real-time and accurate price information. In addition, traders should be able to access daily market information and news using Forex platforms on a daily, weekly, monthly and yearly basis.
Advanced and customizable technology
A trading platform is considered effective when it is customizable. In this way, it provides users with many options so that they can adjust it based on their desired function and needs. The high customization level of this tool will provide various trading signals and execute different orders. However, it would be best to keep in mind that this tool only acts as a guide, and the final decision will be with the trader.
cTrader and its features
cTrader is a forex trading platform that is mostly used by ECN (Electronic Communications Network) brokers. This trading platform is very easy to use. It has several features that we briefly talk about them in the following.
- Charts: This trading platform offers charts in various forms that are based on the users’ different needs. This platform offers different chart shapes, including single, multiple and free charts.
- Market performance analysis: cTrader provides a comprehensive assessment of all market dimensions in three aspects; Price, standards and volume-weighted average price. These features allow users to closely track market liquidity at various price points and thus identify a better entry point into the market.
- Algorithmic trades: Just like MetaTrader 4, cTrader also offers users such algorithmic trading. This tool helps the trader use robots to execute trades, create client indicators, and execute trading strategies.
- Indicators and different time frames: In addition to displaying various indicators such as Bollinger moving average and MACD, the cTrader platform also offers various time intervals such as 1 minute or more.
The differences between cTrader and MetaTrader
- Ease of use: The cTrader platform is popular among users for its visual aspects, regularity and ease of use. Although MetaTrader 4 is very popular in the Forex market, cTrader is more popular among novice traders due to its ease of use. However, using this platform depends totally on traders.
- Supporting automatic trading: MetaTrader 4 is a leader in providing Expert Advisors service. This platform is very suitable for both traders and market experts, and it provides features such as ease of use and customization. This trading platform, compared to cTrader, also perfectly supports the use of automated trading tools. In addition, since many users use MT4, it is much easier to find support and information on the Internet for this trading platform compared to cTrader.
- Flexibility and personalization: In the cTrader platform, there is less flexibility to personalize indicators based on traders’ preferences. Users are not allowed to customize indicators and applications on this platform. However, MetaTrader4 enables you to customize the platform without even knowing the programming language.
Despite its short history in the Forex market, the cTrader trading platform has been able to offer good performance. Considering the features mentioned for each platform, using one of them depends entirely on the trader. Important features such as ease of access, ease of use, customizability, etc., are major factors that help users determine the best trading platform.