MetaTrader 4/5 and cTrader are two of the most widely popular platforms for trading in the forex market. Produced by MetaQuotes and Spotware, respectively, MetaTrader and cTrader are both rich in features and equipped with the most advanced technologies and tools. While MetaTrader dominates the space of forex trading, cTrader beats MetaTrader in several aspects. Find out more about both the platforms, probe deeper into the comparative study, and choose the right platform to engage in forex trading.
MetaTrader 4 and MetaTrader 5
What is MetaTrader?
MetaTrader is the software for trading that is highly popular among forex traders. The trader can operate multiple accounts on the MetaTrader platform. The operation is highly efficient and does not produce any lagging effect on the server or computer. The software is powerful and does not consume too much of the RAM space. It does not overload the system and enables the immediate execution of trading, which is important for raking in profits in the volatile forex market.
What are the features of MetaTrader?
MetaTrader has several features and capabilities. Here are the features of MetaTrader:
- The trader can keep track of price fluctuations of the various instruments and assess the trading graphs and charts while plotting trends for the location of the planned trades. MetaTrader supports and showcases a wide range of graphs that includes Candlestick, Renko, and Heikin Ashi charts.
- It is very easy and hassle-free to set up the trading orders and configure the predefined targets and stop losses for immediate execution. The pending orders and trailing stop loss are easily accessible.
- The expert advisors on MetaTrader can automate the trading process by employing scripts and information which the scripts contain are efficiently executed. It saves the hassle of staying glued to the computer screen throughout the trading time and makes sure that you do not miss out on lucrative trading opportunities.
cTrader
What is cTrader?
cTrader is a platform for trading that was developed and launched by Spotware. It is highly popular among forex traders and broker firms. cTrader provides access to traders for trading online in forex markets. The platform acts as a bridge between the forex market and the trader. Millions of traders from all across the world use the cTrader platform for forex trading. The responsive platform of cTrader has a user-friendly interface and a wide variety of tools for trading.
What are the features of cTrader?
cTrader is a feature-rich platform that is loved by traders and brokers all around the globe. Enlisted below are the features of cTrader:
- The charts and graphs of cTrader are remarkably accurate, and the platform has more than seventy built-in indicators that produce the right signals for trading.
- The software of cTrader makes sure that the brokers on the platform get in touch with one Liquidity Provider at least. The Liquidity Provider provides the prices that cannot be changed by dealers.
- cTrader enables copy trading through separate copy accounts for increased monitoring of funds. The platform also allows web-based trading and enables the traders to construct trade indicators and robots.
Comparison of MT4/MT5 and cTrader
The comparative study of MT4/MT5 vs. cTrader explores the differences in general features, executions, order types, and other factors of the two platforms, MetaTrader and cTrader.
General navigation features
The platform of MetaTrader is designed in the style and form of Windows 98. Its features and setting are somewhat rigid, but it is user-friendly all the same.
The interface of cTrader is modern and highly advanced. While MetaTrader offers a variety of colorful themes, cTrader offers only dark and light themes.
Charting
MetaTrader users are required to choose the active chart before the application of modifications to the settings.
cTrader offers the facility of charts with their own toolbars for the easy control of charts while trading.
Order types
MetaTrader does not allow the trader to place pending orders when the market is not in operation.
cTrader allows the trader to place pending orders when the market is not in operation.
Conclusion
One of the most important aspects of the journey of forex trading is to choose between cTrader and MetaTrader. Experts say that while cTrader is highly sophisticated, MetaTrader still rules with its feature-rich platform and plethora of indicators and functions. While cTrader is good for manual trading, MetaTrader is preferred by all those who seek to conduct automated and accurate trading through trading bots. MetaTrader ranks first in popularity across the globe, although cTrader is fairly popular too. Click here to get more updates on forex trading, forex brokers and forex platforms like cTrader & MetaTrader.