cTrader is one of the closest Metatrader 4 competitors. This Spotware product offers a simple yet effective UI, combined with excellent functionality and a lot of useful features. Trader Union experts conducted deep research of this trading terminal to put together all the most important aspects and provide readers with a detailed review.
This platform is the next-generation trading terminal, using cutting-edge technologies to provide traders with all they need when placing orders or analyzing markets. This software product for trading is designed to make it easier to start, no matter what your skills are as a PC or mobile user.
Our experts underline that the trading terminal welcomes all users with a very simple interface, which allows traders to place orders within seconds after they log in to the platform, and start using it. The interface of the platform can be changed according to users’ preferences, making it even more flexible for a trader to set up their own dashboard.
cTrader Main Features
The platform is designed with attention to minor details. It can be used by both novice and skilled traders. Thus, you will find many analysis tools there that will help you to make market decisions. The main features that the platform offers are the following:
1. Trading indicators. They are spread among five main categories — Trend, Oscillators, Volatility, Volume, Others. Apart from classic math indicators, you will find a couple of the newest algorithms, designed by market analysis experts.
2. Graphic tools. Apart from math algorithms, you can draw trend lines, horizontal support and resistance levels, forks, Fibonacci retracements, etc.
3. Chart styles. Unlike Metatrader 4, cTrader offers six types of charts, comprising Candlesticks, Heiken Ashi, Dots, HLC, Bars, and Line chart.
4. Time frames. You can choose between 1 minute and 1 month. The time frames are standard and similar to those you can find when using Metatrader 4.
5. Four types of orders. Apart from the standard market order, you can place limit, stop, and stop-limit orders. FxPro cTrader offers classic Stop Loss and Take Profit features.
6. Economic calendar. To the right of the main chart, you can find a detailed economic calendar that shows you the events that may eventually have an impact on price fluctuations. Unlike macroeconomic news that you can find on the MetaTrader 4 trading platform, the calendar by cTrader is more detailed, showing you the impact level of each particular event. There is also a News section, where you can find the latest releases related to various trading instruments.
7. Custom bots and indicators. cTrader allows traders to upload third-party automated trading algorithms.
Types of cTrader Platforms
Apart from the desktop platform, cTrader offers its browser version and mobile apps. The difference between the desktop and the browser platform lies in their functionality. The downloadable cTrader terminal allows you to upload third-party indicators and cBots, while this feature is not available in a browser version. You can neither do it when using mobile apps for iOS and Android.
Our experts have tested up and down all versions of the cTrader platform to conclude that all of them are worth trying. If you want to benefit from a fully functional trading platform, you can download a desktop version of cTrader, while if you think that it is enough for you to use pre-installed indicators or you are not going to use any automated trading algorithms, you can either launch the platform in your browser.
As for the mobile apps, they are designed for Android and iOS-based devices. However, even if you have a Windows Mobile or Blackberry gadget, you can easily start your trading career by launching the web version of cTrader trading terminal, which is a mobile-friendly browser app.
Trader Union Experts Verdict
cTrader by FxPro is a multi-feature trading platform using cutting-edge technologies to provide users with an excellent trading experience. Like its main competitor, the Metatrader 4 platform, cTrader is suitable to all categories of traders, allowing you to both place order and conduct deep market research, using various tools like indicators, lines, shapes, etc.