Visit Pepperstone74-89% of retail investor accounts lose money when trading CFDs
Visit IC Markets74-89% of retail CFD accounts lose money
Visit Fusion Markets(Your capital is at risk)
Visit FxPro72.87% of retail investor accounts lose money
Visit Axiory(Your capital is at risk)
cTrader forex brokers refer to forex (Foreign Exchange) brokerage firms that provide traders with access to the cTrader trading platform developed by Spotware Systems.
This platform is renowned for its advanced features, including one-click trading, sophisticated charting tools, automated trading through cAlgo, and Level II pricing. cTrader is especially noted for its user-friendly interface, transparent pricing, and support for algorithmic trading.
cTrader is primarily known and widely used in the Forex (foreign exchange) market. The platform was designed with forex trading in mind, offering a range of features and tools that cater to the unique needs of forex traders. In addition to Forex, cTrader does support trading Contracts for Difference (CFDs) on other assets like indices, commodities, and some individual stocks. However, its prominence and reputation are primarily anchored in the Forex trading community.
In this article, we have grouped some of the best brokers offering the cTrader platform.
To compile this ranking of the best cTrader brokers, we have taken into consideration various factors, including:
- The devices on which the broker offers cTrader
- The accounts available on cTrader
- The fees of the cTrader accounts
- The quality of execution of forex orders.
What are the best cTrader forex brokers?
Below our curated list of the best cTrader brokers for forex trading, complete with detailed information about their standout features and qualities.(74-89% of retail CFD accounts lose money)
What are the cTrader Characteristics?
The cTrader platform has extremely lightweight software which makes it is a practical and fast platform. cTrader offers many indicators and gives you the ability to customize the graphical interface to suit all trading and analysis styles.
With cTrader, you can use time frames that are unusual on other platforms (for instance 1 to 34 tick charts, minutes charts for 2, 3, 4, and 45 minutes).
One of the features that most contributed to the fame of cTrader is the ability to see the depth of a market, a particularly useful feature that has helped it gain popularity among ECN brokers.
By watching the liquidity providers market live and directly interacting with it, we can finally exclude any dealing desk intervention from the broker.
Why are cTrader brokers the best for scalpers?
The cTrader platform is one of the fastest trading platforms in terms of order execution. Additionally, cTrader users can turn on the market depth, which allows scalpers to have an insight on the market liquidity by knowing the amount of currency bought and sold at a certain date and time.
This, added to the fact that is usually offered by brokers with low spreads, makes it a great platform for scalping and day trading in general.
Orders can be entered and edited, working directly on the asset chart within which you want to operate. You can quickly double your positions, close them, or open them in the opposite direction, both from the chart and from the positions section. That’s why cTrader is normally the ideal platform for anyone looking to do scalping, especially if you pair it with a broker with high leverage.
The platform also offers Advanced Take Profit and Advanced Stop Loss tools, which are useful for managing partial returns (profits or losses) at certain price targets, without the help of other software or the physical presence of the trader.
Does cTrader allow EAs and custom indicators?
cTrader allows traders to create, download and install both custom indicators and EAs for automated trading.
Compared to other trading platforms such as MT4 and MT5, cTrader is less flexible when it comes to coding new EAs. First of all, in order to code EAs, the traders must know the cAlgo coding language which is totally different from the MQL4 or the MQL5 languages.
Additionally, the code may not allow traders to retrieve data directly from the trading platform, such as the execution time of trades.
However, looking at the bigger picture, the cTrader trading platform is still a good alternative for algo trading, especially for scalpers and traders who execute trading strategies that rely on the market liquidity.
About The Author