cTrader Review: Opinion, Alternatives, Features

cTrader is a trading platform developed by Spotware Systems, primarily designed for Forex and CFD traders.

Launched in 2011, cTrader has emerged as a competitor to the popular MetaTrader platforms, distinguishing itself through a focus on intuitive design and user-friendly interface.

It is particularly known for its clean and modern interface, which appeals to both novice and experienced traders.

What is our opinion on cTrader?

cTrader excels as a trading platform for ECN forex trading and suits advanced forex traders well, thanks to its extensive trading functionalities and integrated market analysis tools. However, its complexity might pose challenges for beginners attempting to navigate and understand how cTrader operates, but they still have a good demo account at their disposal.

One downside we encountered is the absence of historical data downloads. This is a significant drawback for more advanced traders who rely on historical data to analyze the market. Although this data can be sourced from other websites, we think it would be more convenient if it were integrated into the platform.

On the brighter side, we were glad to find several in-built features that are not commonly found in the best forex trading platforms.

For instance, cTrader gives the ability to see the Depth of Market (which is not common at all to find in forex-CFD trading platforms). Additionally, the integration of Tradingview, the in-built copy trading feature (cTrader Copy), and the economic calendar and news are extremely useful for market analysis and enhance the trading experience on the platform.

After trying out the cTrader platform, we also noticed that it stands out from the majority of trading platforms due to its exceptionally easy and flexible demo account creation process. We found that the ability to edit the characteristics of the demo account is highly beneficial, as it allows traders to replicate real trading conditions as closely as possible.

However, we think that cTrader may not be the ideal choice for traders looking to deal in assets other than CFDs, and for those seeking a platform that is easy to learn and use.

What are the advantages of cTrader?

• Depth of Market (DOM): cTrader provides traders with real-time information about the buy and sell orders in the market. This feature offers insight into market liquidity and potential price movements.
• Fast execution: cTrader is known for its rapid trade execution speeds. This fast execution reduces the risk of slippage and ensures that trades are executed at the most favorable prices.
• Full utilization of ECN (Electronic Communication Network): cTrader is specifically designed to maximize the use of ECN. This design results in faster order execution compared to other platforms and includes the DoM feature. Such efficiency in executing orders and providing market depth information significantly enhances the trading experience on the platform.
• Advanced charting: cTrader provides sophisticated charting capabilities including a wide range of time frames, customizable chart types, and the ability to display multiple charts simultaneously.
• Technical analysis tools: cTrader is equipped with an extensive array of technical analysis tools. This includes various indicators, graphical objects, and analytical tools.
• Flexible demo account: With cTrader you can create a demo account without having a brokerage account. Moreover, this demo account can be tailored in terms of virtual funds, account currency, and leverage, allowing for a simulation of real trading conditions to the greatest extent possible.

What are the disadvantages of cTrader?

• Not user-friendly: cTrader’s advanced features and detailed interface may be challenging for beginners to master. Its comprehensive range of tools and settings, while beneficial for experienced traders, can be overwhelming for new users, requiring a steeper learning curve.
• Only CFD trading: cTrader is primarily focused on CFD (Contract for Difference) trading. This specialization can be a limitation for traders looking to diversify into other types of financial instruments like stocks, bonds, or options directly.
• No historical data download: cTrader does not offer the functionality to download historical data. This can be a significant drawback for traders who rely on extensive historical market data for backtesting trading strategies and conducting thorough market analyses.
• Limited Broker Availability: cTrader is offered by fewer brokers compared to other platforms. This restricts traders’ choices, as they might not find cTrader available with their preferred brokerage, limiting their options for using this specific platform.
• Limited custom indicators and EAs: cTrader, unlike some other platforms, has limited support for third-party custom indicators and Expert Advisors (EAs), as they may not be compatible or as extensively supported on cTrader.

Who should consider using cTrader?

cTrader is a trading platform that caters well for the following category of traders:

• Forex and CFD Traders: cTrader is a trading platform that focuses on CFD and forex trading only, meaning that every other market cannot be traded through this service.
• ECN Traders: cTrader is a platform created specifically for ECN forex trading as it shows the Depth of Market (DoM) and excels in executing order execution faster than other trading platforms.
• Scalpers: The platform is beneficial for scalpers due to its fast execution capabilities, allowing for quick trades, and providing efficient market analysis and tools.

Is cTrader suitable for beginners?

cTrader may not be the most suitable platform for beginners in trading due to its complexity and the need for some training to get accustomed to its interface. However, with effort and dedication, it is possible for a beginner to learn and adapt to it relatively quickly.

Beginners can in fact use the cTrader demo account, which can be a valuable tool for newcomers to practice and get familiar with trading dynamics since it can be customized according to the user needs.

Additionally, beginners have the option to engage in copy trading via cTrader Copy, which can be a practical way to start trading while learning.

Is cTrader suited for professionals?

Yes, cTrader is well-suited for professionals.

Its strengths lie in its robust ECN forex trading capabilities and advanced features that cater to experienced traders, such as the integration of Tradingview, algo trading options, and Depth of Market analysis which all provide a comprehensive set of tools for in-depth market analysis.

Additionally, cTrader’s in-built fundamental analysis tools (market news and economic calendar) enhance its utility for advanced traders. However, one notable limitation is the lack of historical data downloads, which might be a drawback for those who rely heavily on such data.

Is cTrader safe?

Yes, cTrader is a safe software to use for trading.

cTrader employs SSL encryption to protect your login data, ensuring that your personal credentials are securely transmitted. However, it’s important to note that the overall security of your trading experience on cTrader also depends on the broker you choose to use with the platform.

In fact, cTrader acts as the front-end interface for trading, but it’s the broker that handles the financial transactions and stores the trader’s funds. Therefore, the security of your money and the integrity of your transactions are largely contingent on the broker’s security measures and regulatory compliance.

What are the alternatives to cTrader?

The main alternatives to cTrader are the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

cTrader is lauded for its fast order execution, transparent ECN trading, and visibility into the Depth of Market (DoM). However, some users find it challenging to navigate due to its complex interface.

Conversely, MT4 is known for its vibrant community and device compatibility, but its trading options are limited to CFDs, and it lacks the DoM feature.

MT5 supports various markets, including CFDs, futures, and cryptocurrencies, with the ability for algo trading, but it is considered less user-friendly due to its complex layout and numerous icons in its interface.

Features	cTrader	MetaTrader 4 (MT4)	MetaTrader 5 (MT5)
Derivatives	CFDs	CFDs	CFDs, Futures, Options
Can buy underlying asset	No	No	Yes
Coding language	cAlgo	MQL4	MQL5
Devices available	Desktop, Mobile, Webtrader	Desktop, Mobile, Webtrader	Desktop, Mobile, Webtrader
Number of indicators	30	30	38
Custom indicators	Yes	Yes	Yes
Timeframes available	26	9	21
Needs a broker to work	Yes	Yes	Yes
Subscription needed	No	No	No

cTrader vs MT4

The main difference between cTrader and MT4, is that cTrader prioritizes ECN trading, offering a transparent display of Market Depth and emphasizing faster order execution.

In contrast, while both cTrader and MT4 support algorithmic trading and provide tools for creating and downloading trading bots, MT4 boasts a larger community of algorithmic traders, fostering a more extensive exchange of insights and strategies.

Both platforms excel in facilitating margin trading for CFDs and forex, depending on the offerings of the respective brokers.

To delve deeper into the comparison between MT4 and cTrader, check out this detailed analysis on their respective features, functionalities, and user experiences.

cTrader vs MT5

While cTrader focuses on ECN trading with a transparent display of Market Depth and emphasizes quick order execution, MT5 stands out for its broader spectrum of tradable markets, including CFDs, Forex, options, and futures contracts.

Additionally, both cTrader and MT5 support algorithmic trading, allowing users to create and implement trading bots for automated trading strategies.

For a more detailed comparison between MT5 and cTrader, check out this comprehensive analysis that delves into their unique functionalities and features.

What are the best cTrader forex brokers?

The top cTrader forex brokers include IC Markets, Pepperstone, and Fusion Markets.

These brokers are renowned to offer low spreads and support for algorithmic trading. They also provide ECN and raw spread accounts, enabling traders to fully leverage the capabilities of the cTrader platform.

Following is a comparison of these best cTrader forex brokers:

Features	Pepperstone	IC Markets	Fusion Markets
Regulated	Yes	Yes	Yes
Spreads from	0 pips	0 pips	0 pips
Commissions per lot	Up to $7	Up to $7	Up to $4.50
Number of fx pairs	90	61	90
Total number of CFDs	1200+	2250+	200+
Demo MT5 account	Yes	Yes	Yes

How popular is cTrader among forex brokers?

cTrader is offered by approximately 10% of major forex brokers.

This indicates that it is not among the most common platforms used by the top forex brokers.

When considering the global forex market, the prominence of cTrader is even less. A significant portion of forex brokers worldwide operate as white labels, meaning they utilize the assets of other brokers to provide their services. These white label brokers typically offer proprietary trading platforms rather than platforms like cTrader.

How to open an account with cTrader?

In order do open a cTrader account you can follow these four steps:

1. Choose a Compatible Broker: Firstly, you need to select a broker that offers the cTrader platform. You can do this by researching and comparing different brokers that support cTrader. Look for information regarding their reputation, fees, available markets, and any additional services they provide. Some well-known brokers that offer the cTrader platform include Pepperstone, IC Markets, FxPro, and many more.
2. Open a trading account with the broker: After choosing a broker, visit their website and look for the option to open an account. You will typically have the choice between a demo account or a live account. A demo account is used for practice and does not involve real money, while a live account requires a deposit before you can start trading with real funds. Consider your level of experience and risk tolerance before making this decision.
   
3. Download and Install the Trading Platform: Once your account is created, the broker will likely provide a direct download link to the cTrader platform. It’s crucial to download the software from the official source provided by the broker to ensure the security and integrity of the application. Avoid downloading the platform from other sources to prevent any potential security risks.
   
4. Insert the Login Data Provided by the Broker: After successfully installing the cTrader platform, launch the application. You will be prompted to log in. Use the login credentials provided by your broker, which typically include your cTrader ID and password. Ensure you input the correct information to avoid any login issues.

What are the steps to open a cTrader account?

In which countries is cTrader available?

cTrader is globally accessible, but its availability depends ultimately on brokers complying with specific country regulations.

For instance, a cTrader forex broker regulated in the European Union, might not be able to offer trading services in a country regulated by other financial bodies such as Australia.

How do I choose a broker for cTrader?

When selecting a broker for cTrader, prioritize regulation, reputation, and trading costs. Make also dure it offers a diverse range of assets, and reliable customer support. Additionally, make sure it offers educational resources about forex trading and cTrader tutorials if you are a beginner, as well as a demo account for practice.

Which devices are compatible with cTrader?

cTrader is compatible with Windows and macOS for desktops, iOS and Android for mobile devices and tablets, and all major web browsers through its WebTrader version.

cTrader Compatibility	Availability
Desktop Version	Windows, MAC
Mobile Version	Android, iOS
Webtrader Version	Yes

How do I download cTrader on my phone?

To get cTrader on your phone, go to the App Store (iOS) or Google Play Store (Android). Search for “cTrader,” tap the official app, and click “Install” on Android or “Get” on iOS. Wait for the download, then open the cTrader app.

How do I install cTrader on my desktop?

For the desktop version, visit a broker’s website offering cTrader and open a cTrader account with them. From here, they will provide a link to download cTrader. Then save the file, run the installer, and follow on-screen instructions to complete the installation.

How to connect cTrader to your broker?

Upon opening a cTrader account, your broker will provide you with a cTrader ID via email. Following this, cTrader will prompt you to log in to the platform and choose a password.

Then, in order to access your cTrader account, you will be simply required to open the cTrader platform and enter both the cTrader ID and password.

Can I use cTrader without a broker?

You can use cTrader without a broker by setting up a demo account. To do this, download and run the cTrader platform. A popup will appear, prompting you to log in or create a cTrader ID. You can create a cTrader ID using an email and password. This process automatically sets up a cTrader hedging demo account with $1000 in virtual funds and a 1:100 leverage.

You also have the option to create additional demo accounts with customizable features. These include:

• Setting virtual funds ranging from $1000 to $1,000,000
• Choosing from 8 base account currencies (including EUR, USD, GBP, and two cryptocurrencies: BTC and ETH)
• Selecting leverage between 1:1 and 1:1000
• Choosing the account type between Hedging (where you can open two opposite positions on the same symbol) and Netting (which is the opposite of a hedging account)

To open a real account to trade with real money, you must select a broker that offers cTrader.

How to deposit funds on cTrader?

To deposit funds on cTrader, you must log in to your broker’s trading account on their website and use their provided deposit function. Here you need to select your deposit method as well as the amount of money you want to deposit. cTrader does not support direct fund deposits, relying on the broker’s infrastructure for all financial transactions.

How to withdraw funds from cTrader?

Since cTrader doesn’t directly manage fund withdrawals, it relies on the broker’s backend system for all financial transactions. This means you can’t withdraw funds from cTrader, but you have to login into your cTrader brokerage account and withdraw from there.

How much does cTrader cost for traders?

The cTrader platform can be downloaded, installed, and used completely for free.

Nonetheless, if you conduct trades using cTrader via a broker, you might incur different types of trading commissions and fees, such as:

• Spread mark-up
• Commission based on trading volume
• Back to base currency conversion
• Slippage
• Swap fees
• Dividend adjustments
• Managed account fees

How does cTrader make money?

cTrader operates on a revenue model that involves charging brokers a licensing fee for the use of its platform. This licensing fee varies based on several factors, such as the size of the brokerage and the specific terms of the agreement.

cTrader offers two types of licenses:

• Server license
• White label license

A server license allows brokers to host the cTrader platform on the Spotware servers. In contrast, a white label license lets brokers use a hosted version of cTrader that can be branded with their own logo and colors.

The fee structure for these licenses includes a monthly fee starting from $2000, along with a one-time setup fee that can reach up to $5000, depending on the type of license acquired.

License Fee Type	Monthly Fee	Setup Fee
cTrader Server License	From $2000	$5000
cTrader White Label License	From $2000	$1000

What can you do with cTrader?

Can you trade cTrader with virtual money?

Trading with virtual money is possible on the cTrader platform.

The most straightforward approach is to download cTrader from its official website and set up a demo account when you first run the program on your computer. Alternatively, you can opt for a cTrader forex broker that provides a demo account. This method involves registering an account with the broker, which then allows you to download cTrader and use their demo account.

Some of the best demo forex accounts include those offered by IC Markets and FxPro, which provide cTrader demo accounts. These demo accounts are unlimited in duration and are available across all account types offered by these brokers.

What markets can you trade on cTrader?

On cTrader, the primary focus is on Contract for Difference (CFD) trading. CFD markets that you can find on the cTrader platform include Forex, Commodities, Stocks, ETFs, Indices and Cryptocurrencies.

However, the availability of CFD markets, and the number of tradable assets within that market, depends on the offerings provided by the broker since cTrader itself does not directly facilitate trading services.

What types of order does cTrader provide?

cTrader provides the following order types:

• Market Order
• Limit Order
• Trailing Stop
• Take Profit
• Stop Loss

The order types available are quite standard in the industry, but it misses more advanced ones such as the GSL (Guaranteed Stop Loss) or OCO orders.

How good is cTrader for technical analysis?

cTrader is a good platform for technical analysis, especially for those traders looking for more information from the market rather than just relying on indicators.

On the cTrader platform you can find the following tools for technical analysis:

• 30 Indicators: these include trend indicators, oscillators, volatility indicators and volume indicators.
• Drawing Tools: These include classic tools such as the ability to draw lines, take notes, and more.
• 26 Timeframes: on the cTrader platform you can set the timeframes to 1 minute to 1 month.
• Depth of Market: the depth of market allows traders to see the different price levels at which an asset is being sold or bought, allowing a better understanding of the market.

How good is cTrader for fundamental analysis?

cTrader is a good platform for fundamental analysis.

When it comes to fundamental analysis, the tools offered by cTrader are the economic calendar and a news section.

Other than that, cTrader doesn’t offer other fundamental analysis tools such as a market screener or third party professional market analysis.

Can you do algo trading with cTrader?

Yes, cTrader supports algorithmic trading through Expert Advisors (EAs), allowing traders to use automated trading systems.

Traders can utilize the Strategy Tester to assess the effectiveness of their automated trading strategies. The platform employs the cAlgo coding language, enabling users to develop personalized indicators and algorithmic trading strategies.

With its FIX API support, traders can smoothly integrate cTrader with external applications and services.

Moreover, the platform’s flexibility is enhanced by the ability to integrate various plugins, offering expanded functionality and customization options.

Does cTrader allow Copy-Social trading?

Yes, cTrader does offer Copy-Social trading functionality via cTrader Copy, a fully integrated cTrader application.

After logging into the cTrader web application using their cTrader ID, a trader can navigate to the Copy section. Here, they can explore various strategies, examining their history, specifics, and associated fees. With a simple two-click process, funds can be allocated, and the trader can start copying any of these strategies.

The cTrader Copy main page allows for the discovery and copying of all strategies without requiring a long-term commitment. Any trader with a cTrader ID can invest in a chosen strategy, provided their broker supports cTrader Copy.

Conversely, numerous Forex brokers place greater emphasis on platforms that are specifically designed for copy and social trading. A prominent example is eToro, which specializes in providing a platform tailored to this particular trading style.

Can you customize your cTrader?

Yes, cTrader offers extensive customization options, allowing users to tailor the platform’s layout, chart settings, and technical indicators to their individual trading preferences. This flexibility extends to creating and saving workspace templates, as well as integrating custom indicators and automated trading strategies, making it a versatile tool for traders.

Personalization of the layout includes options such as selecting your preferred language, choosing between a dark or light color theme for the interface, and customizing sounds, with the ability to enable or disable them as desired.

cTrader provides options for color scheme customization. Traders can modify the interface’s color settings to align with their visual preferences. For a quick and efficient setup of preferred chart configurations and settings cTrader enables traders to create and save their custom templates.

Does cTrader allow managed accounts?

Yes, cTrader allows the use of managed accounts which are facilitated through features like the Shared Account Access. Shared Access is available in the Spotware Crossbroker App.

Using cMAM, users can simultaneously manage multiple trading accounts on the same platform. This feature enables the mirroring of trades across various trading accounts, accommodating different brokers and trading platforms, all from a single, unified interface.

Supported managed account types on cTrader include:

• Multi-Account Manager (MAM)
• Percent Allocation Management Module (PAMM)
• Lot Allocation Management Module (LAMM)
• Risk Allocation Management Model (RAMM)

It should be emphasized that access to these accounts is primarily through Forex brokerages. Even so, most forex brokers mandate the use of MetaTrader 4 as the trading platform for managing these accounts.

Examples of available managed Forex accounts include offerings such as the MAM account from AvaTrade, the PAMM account provided by FP Markets, IC Markets’ LAMM account, and the RAMM account from Grand Capital.

Does cTrader allow mobile trading?

Yes, cTrader supports mobile trading, enabling users to access their trading accounts and execute trades conveniently from iOS and Android devices. The platform’s mobile application offers a user-friendly interface, real-time market data, and a range of trading tools, ensuring a comprehensive trading experience on the go.

The cTrader mobile app misses out on the full array of advanced charting options, and customization flexibility found on desktops. Additionally, users in online forums have expressed difficulties in viewing the date of open positions on the mobile app. Even rotating the phone doesn’t alleviate the issue, as a button obscures the view until they scroll.

The cTrader mobile app allows you to effectively manage your trading account, including conducting deposits and withdrawals. Moreover, a notable feature of the cTrader mobile app is its notification and push alert system, which keeps you informed about real-time market movements and significant events.

Does cTrader provide customer service?

cTrader provides customer service through its comprehensive Help Center available on its website, featuring a knowledge base detailing the platform’s functions. Additionally, brokers offering the cTrader platform typically extend customer support to traders, covering inquiries related to cTrader account management.

You have the option to reach out to your broker via live chat, email, or by requesting a callback from your designated account manager. Whether addressing inquiries specific to the platform or wider questions about your trading account, this customer service support is crucial in improving user experience and guaranteeing seamless functionality for those trading on the cTrader platform.

How to learn trading with the cTrader?

To learn trading with cTrader, familiarize yourself with its interface, utilize educational materials, practice on a demo account, study market analysis tools, explore copy trading, stay informed about market trends, engage with the cTrader community on its forum, and you can also learn trading by watching the cTrader video library.

Familiarizing with the interface: The first step is getting to know the cTrader platform, which you can open directly from the cTrader website, no registration needed. Spend time understanding its layout and functionalities. Knowing where everything is and how it works is crucial for efficient trading.

Utilizing educational resources: cTrader offers a variety of tutorials, guides, and videos in the cTrader Video Library and the help section.

Practicing with a demo account: Practice trading with virtual funds to experiment with strategies and get a feel for the market without any financial risk.

Studying market analysis tools: cTrader is equipped with several market analysis tools like technical indicators and charts. Learning how to use these tools effectively can help you make informed trading decisions.

Exploring copy trading: cTrader Copy trading can be both educational and beneficial by copying the trades of experienced traders and learning from them.

Staying updated on market trends: Keeping abreast of financial news and market trends is essential. It helps you understand how various factors affect the markets and can guide your trading decisions.

Engaging with cTrader community forum: You have the option to interact with the cTrader community through their website, and you can also visit the suggestion page to gain insights into traders’ needs.