I use cTrader platform and love it. Here is my video review of the platform.
Indeed, while this notion may seem too good to be true, would be a need to take into account that currency traders who use Forex ECN technology do give traders direct access to the market.
Someone from another forum said,
MT4 is a toy for scam.
CTrader for Real traders.
MT4 is manipulable by brokers
CTrader is transparent to both sides.
The MM (market maker) made many bandits and thieves
In my own opinion MT4 is much much better than cTrader. But the worse stuff for me is that I have Mac and not all of the brokers offer MT4 for mac or it has low functionality. But even with such drawback I prefer MT4 or Web-based terminal to cTrader
Interesting that you prefer Mt4 over cTrader. You must be the first person I know who prefers a lesser trading platform, but if you are happy with it then keep using it :).
Maybe I am doing something wrong. Will definitely give it another look
I’ve tried both.
Mt4 is found wanting in so many aspects, I’ll name a few here:
There are some situations when it may be necessary to start to take profits at predefined profit areas. Assume you have a long trade which was set up based on pivot points at the S2 level, you would naturally take profits at S1. But supposing there is a strong fundamental influence on the market which can possibly take the market to the central pivot and the R1 areas before exhaustion. The Advanced Take Profit function of ctrader allows your trade to achieve these extra profit targets as well automatically. You can scale out of a profitable position by using up to 4 different take profit levels per position.
With MT4 there is no automatic scaling out. You have to do this manually, which means you must be on your charts for hours on end, monitoring the trade. This is quite a tiring process and we all know that fatigue is the perfect trigger for errors of judgement, which inadvertently lead to losses.
Also, in ctrader , the trader can tell the platform to start to trail the market when a particular number of pips in unrealized profits have been made, and then tell the platform at what distance from the market price the trailing stop should be set to. In Mt4, the trader has to wait until the trade has moved to a profit level that the trader is comfortable with, and then set the Trailing stop by a particular amount of pips. In essence, the trader can only set the Trailing Stop when the trade is active, and this has to be done manually. Only one type of trailing stops can be used, which disallows the use of individual strategies.
Finally, some traders use the Break Even strategy. In this strategy, the trader uses a two-tier exist system of trading in which half of a position can be closed when a certain profit level has been attained. The rest of the position is allowed to run while the stop loss is moved to the entry price for the trade, which is the breakeven point. ctrader allows you to set these parameters before the trade is executed. The price automatically adjusts for broker commissions, and trigger points can be set in pips. Mt4 has no breakeven functionality built in.
There are many many others advantages ctrader has over mt4 but I don’t want my response to get too long to read. It is quite long as it is. ctrader works the best for me.
*** This can be automated in MT4. Have you tried running scripts on MT4?
*** That is not true. MT4 uses trailing stops too and you can automate this also.
***You can automate this to. I have this included in my lots size calculations in MT4.
*** It is cool that you prefer one system above the other, but it seems that you haven’ t given MT4 a full run. But if you like cTrader better, go for it. I am just balancing your opinion with regards MT4 as it it is not factual.
I really like cTrader and wanted to use it for my trading but unfortunately cTrader doesn’t work on Mac so I had to stick to MT4…
This is not the first time that I see the claims that cTrader is more transparent for both brokers and traders and is protects the last from price manipulations. Yet, I don’t quite get how exactly they ensure this?
You can see charges and margins before you enter a trade
You have execution details in any platform (Desktop, Web, Mobile) and for all your history (MT has only logs and if you delete it, you have nothing except the historical trade itself).
Execution details include server execution time, execution duration in milliseconds, and Market Depth snapshot
There are tick data charts with bid and ask prices and Deal Map on a chart. You can see where your orders were executed
You always see execution channel (from which platform order was placed). Broker can’t directly manipulate order or position. Broker has an option to execute an order on your account but such order will have a dedicated channel ‘Phone Trading’