cTrader Forex Brokers 2019

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Trading conditions:

FxPro

It seems that whenever FxPro is at an award show, you can count on them taking home a good portion of the hardware.  An internationally respected FCA and CySEC regulated broker, they claim over 870,000 clients from 173 countries.  FxPro has tight spreads starting with their standard account, support for MT4, MT5 and cTrader, and a wide range of currency pairs to trade.  For traders looking for a well-known name in trading, with the right conditions to make trading profitable, and award-winning support, FxPro is a name to consider.

Trading conditions:

IC Markets

IC Markets presents itself as the best and largest true ECN broker. It is ASIC regulated and offers the MetaTrader4, MetaTrader5 and cTrader platforms. IC Markets is highly recommended to both new and experienced traders looking for faster execution and tighter spreads.

Beginner traders will find the IC Markets account structure welcoming and simple to understand and it understands customer retention involves a combination of tighter spreads, cutting edge technology, fast trade execution and top quality customer service.

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What is cTrader?

cTrader is an institutional grade trading platform used by a select set of leading Forex brokers.  Launched in 2011 exclusively by FxPro, this beginner friendly software offered high-speed execution with a cleaner user interface than the competing MT4 software.

Along with another set of rapidly released product improvements, cAlgo, an Automated Algorithmic Trading Platform was released later in 2011. Other improvements released since then are improved charting, open APIs and cTrader copy in 2018. This new and unique product was started collecting awards in 2013 for the quality for the trading platform and continues to receive awards annually.

cTrader Advantages

There are advantages and disadvantages of cTrader as a platform.

  • Your platform needn’t be open and connected to your broker to keep a trailing stop loss functioning like with MT4.
  • The ‘Depth of Market’ function is easier to use (colour-coded and different profiles available) than MT4’s.
  • cTrader has minor features here and there that make the platform more ergonomic and user-friendly than MT4. For example, on the right side of the charts, there is a scale that points out a distance in pips (e.g. 50 pips). This helps beginners because it gives them an idea of what 50 pips looks like without using the crosshair tool to take measurements.
  • cTrader’s data sets (for backtesting trading robots) are more complete than MT4’s and support real tick data backtesting. MT4 usually doesn’t have real tick data available. MT5 is supposed to be compatible with real tick data or have it available.
  • cTrader’s crosshair tool measures pips while MT4 measures points. This makes it easier to make measurements, especially for a beginner. If you measure 50 pips with cTrader, you see 50. If you measure with MT4, you see 500.
  • cTrader has a built-in copy trading feature.
  • cTrader has a FIX API. Its coding language is also more versatile than MQL4. The FIX API probably makes it possible to do total portfolio management with a trading bot. Or put it this way, a trader could perform cross-instrument trading with a statistical arbitrage robot. This type of trading is not possible with MT4 because each EA only performs calculations on one chart window at a time.
cTrader Copy Trading functionality
cTrader Copy Trading functionality

cTrader Disadvantages

  • The minimum lot sizing on some stock index CFDs (e.g. GER30) are inconsistent with forex pairs and some other stock indices.
  • Frequent updates to the platform cause delays when you open the platform. Let’s say you have to manage a position urgently, then an update is a real pain in the…
  • I think the MT4 community is much larger than that of cTrader. From the MT4 platform, you can access probably thousands of EAs. Online forums have much info about MT4, etc.

Should I choose cTrader?

cTrader is a welcome alternative for traders who want a cross-broker trading platform, that has a reputation for transparency, rapid product development and high-speed trade execution.

With clear improvements in trade management and visual aesthetics in comparison to MetaTrader 4, traders who trade with cTrader tend to stick with the choice.

While cTrader is not the industry standard, and supported by as many brokers, it is still a reliable platform choice.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.