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’
That’s a great list of the features you’ve provided.
If you don’t mind I’d put it this way:
There’s such a term named ‘liquidity bridge’. That’s a software block or a part of the trading platform that ensures the connection between client orders and liquidity providers. The broker’s server acts as an intermediary here. THe trick that some brokers use is that the connection does not come further to the liquidity providers and all of the orders are executed inside the broker’s server. In other words, those brokers make the market for their clients. cTrader does not have such an option at all. Unlike MetaQuotes that require only a financial services license, Spotware has an obligatory requirement for the brokers to connect to the market via No-Dealing Desk method.
I’ve also read that the cTrader platform has lots of additional benefits in terms of trading from charts. Is it related to placing stop losses and take profits on charts or is it about more features?
Manual trading is more convenient in cTrader compared to MT4. Some functions are similar in MT5, but cTrader is more easy to use, as for me.
I like the way cTrader reflects my past trading right on the charts. It’s possible to squeeze charts or open other time frames, while my trades with entry and exit points will be still visible.
Besides, you can plce SL and TP by dragging and dropping the line at some level. It’s good to see the trading volume when you choose the lot size, margin requirements and the cost of pip is shown right away here.
Also, you have built-in functionality to calculate risk %. It’s not straightforward though.
You need to set SL in pips and change volume until you will see desired Risk % from my balance.
As I show on the screenshot, I set 15 pips SL and changing Volume using Up and Down arrows until I found a volume that will be 0.5% from my balance.
And many more. It is easier to create robots or indicators because it has modern development tools and programming language. The community is awesome, there is a Telegram channel where people and one guy from cTrader are helpful and reply fast.
Not everything is perfect, but it seems like the best platform on the market right now.
I’m a newbie in Forex trading, trying to cope with demo accounts on different platforms. Thanks for your reviews, I also like the cTrader platform especially when I compare it to others. I can see here additional types of postponed orders that are not present in other platforms. Can someone explain to me please what is the purpose of stop limit orders in cTrader?
Sometimes it happens that the market is extremely volatile and the platform does not have enough time to execute your postponed order at an exact entry price. This is why Spotware Ctrader has a function of additional types of pos[tponed order to take advantage of price ranges when entering the market. All you need is to set a stop price and a limit price within the range that is affordable for you. So your chances of entering the market within that range will grow.
For example, you need to sell EUR/USD in the range of 1.1780/1790, which is below the current market price. So you set a sell stop limit order with the stop price 1.1785 and limit range 5 pips.
I also need to give a little remark on one of my previous posts. In fact there is a b-booking option with cTrader now, and official representatives clarified this issue on their forum. Here is what they say.
As far as I understood it, B-booking is allowed, but brokers can’t manipulate executions.
That would be the reason that so few Brokers offer Ctrader as a trading platform option.
It is also not used in the US at all… If Brokers need the opportunity to game their Clients via a Dealing Desk trading model, best to offer the off the shelf option like MetaTrader’s MT4 or MT5…
Should be a warning to the rusted on crowd of MetaTrader users…
Comparing Ctrader to Metatrader is like comparing the Iphone to a Blackberry… Yeah they both make calls etc but geez… using Metatrader makes me feel like I have taken a time machine back to the 90’s!