MetaTrader 4 (MT4) vs cTrader

Category: Trading Platforms | Author: Trading Brokers | Date: January 6, 2023

The most widely used trading platform is MetaTrader 4, while more experienced traders like cTrader. MT4 is quicker, easier to use, and comes with Expert Advisors that have access to a large library of automated bot programs. As opposed to MT4, cTrader offers improved charting, functionality, and market depth.

An in-depth comparison of the MT4 and cTrader systems is provided in this article. You may more confidently decide which trading platform is most suited for your trading needs by comparing the user interface, charting package, trading tools, programming languages, backtesting capabilities, trade execution, availability, and accessibility.

In the investment world, trading CFDs and forex carries a significant level of risk. You need a technological software solution if you want to trade on the currency market or guess on how much certain CFDs will fluctuate in price.

Both the trading platforms MetaTrader 4 and cTrader have advantages and disadvantages. Everything you require to know about the most well-liked trading platforms, MetaTrader 4 and cTrader, will be covered in this article.

MT4 vs cTrader: History

Spotware Systems introduced the cTrader platform in 2011. However, MetaTrader 4 (MT4), developed by MetaQuotes Software, has become the industry standard for forex trading. The MT4 trading platform was established in 2005 by MetaQuotes, the parent business.

Over 1,200 brokerage trading firms have licenses for the MT4 platform, although it no longer grants new licenses to forex brokers as of 2018. The improved MetaTrader 5 trading platform, which was marketed as a multi-asset trading platform, took the place of MT4.

The all-in-one multi-asset trading platform cTrader includes more sophisticated trading features. One of the best features that sets cTrader apart from MetaTrader 4 is the depth of market (DOM) feature with level 2 pricing, ECN/STP market execution, algorithmic trading via cBots, backtesting capabilities, and the order types.

MT4 vs cTrader: Overview

Making the right choice of trading platform is one of the most crucial choices you must make when you first start trading. Your trading platform should be appropriate for your requirements. For instance, if you trade algorithmically, your platform must have a wide range of features for building and adding trading robots, you need access to a variety of trading algorithms that have been built for the market, etc. Technical traders need platforms that are both user-friendly and provide a large selection of tools for evaluating the markets.

Although they are less particular about technical tools, fundamental traders prefer comprehensive economic calendars. Additionally, certain systems are restricted to just delivering particular asset classifications. Let’s examine the three trading platforms that are currently most in demand: cTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5). They all three have their advantages and disadvantages.

What are the similar features?

The main similarity between the two platforms in terms of functionality or features would likely be that they are both designed for Forex and CFD trading rather than Stock, Option, or Bond trading.

Another similarity is that both MetaTrader 4 and cTrader have web-based versions and can be accessed from Windows PCs, mobile devices, and other devices.

Additionally, both systems permit algorithmic trading using trading robots. Expert advisors can be created and customized using MetaTrader 4’s MQL4 programming language, while cTrader’s equivalent, cAlgo, which is based on the C# programming language, enables the development of robots (cBots) that can execute trades, create custom indicators, carry out strategies, or perform backtesting.

However, MetaTrader 4 is still recognized as providing the greatest support features for auto trading, and it has a sizable online community where traders may readily receive help if they need it. The auto-trading feature of cTrader, however, might not have as much support.

Finally, one-click trading and trading immediately from charts are supported by both systems.

The all-in-one multi-asset trading platform cTrader includes more sophisticated trading features. One of the best features that sets cTrader apart from MetaTrader 4 is the depth of market (DOM) feature with level ii, ECN/STP market execution, algorithmic trading via cBots, backtesting capabilities, and the order types.

What are the main differences?

The primary distinction between the two platforms is that cTrader has three methods for determining market depth: standard depth, price depth, and VWAP depth. These options give traders a better understanding of market liquidity at various price points, allowing them to enter the market with greater accuracy. In contrast, there is only one market depth function in MetaTrader 4.

Second, cTrader has enhanced take-profit/stop-loss levels, market sentiment, and Smart Stop-out features, which MetaTrader 4 does not, in addition to having a broader selection of technical indicators, time frames, chart styles, and order types. Third, unlike MetaTrader 4, the cTrader platform permits strategy backtesting on real-time data and trading performance analysis.

Furthermore, unlike the MT4 platform, the cTrader platform gives users access to cloud-hosted watch lists, workspaces, and price alerts as well as the ability to modify watch lists, email, and push notifications.

Not to mention, cTrader is made to work with real ECN + STP brokers, whilst MetaTrader 4 might only be suitable for ECN execution.

MetaTrader 4

The trading platform MetaTrader 4 (MT4) was created by MetaQuotes in 2005. MetaTrader 4 can be used to trade a variety of markets, including forex, indices, cryptocurrencies, and commodities, via CFDs, even though it is most often linked with forex trading.

Because it can be highly customized to your unique trading tastes, MT4 is quite well-liked. Additionally, you can utilize algorithms to automate your trading, opening and closing deals on your behalf in accordance with a set of predefined criteria.

MetaTrader 4 (MT4) Platforms

MetaTrader 4 (MT4) Platforms

MT4 features

  • quick access to historical and online currency pair data
  • fast online trading
  • different trading order tips
  • various graphing options and displays
  • different Time Frames
  • back-testing on historical data
  • support for many world languages
  • a huge number of indicators and tools for technical analysis
  • creating or importing custom systems, alarms, indicators, codes, and scripts (Expert Advisor – EA) using the MQL4 programming language.

MT4 pros

  • large community
  • tested through time and realiable
  • great for EA‘s and VPS trading
  • most popular trading platform

MT4 cons

  • does not come with many advanced trading tools
  • potential software complications
  • MT4 does not support cryptocurrencies

cTrader

With powerful trading features including quick input and execution and coding customisation, cTrader is a simple and intuitive trading platform. cTrader, developed by Spotware with the goal of balancing simple and complex features, is used by both novice and experienced traders. Traders can place complex order types and have a deeper understanding of the orders they are placing.

cTrader

cTrader

cTrader features

  • large number of time intervals
  • Tiki and point charts
  • Automatic addition of TP and SL to the open position
  • Trade with one click and quick set up of pending orders on the chart
  • Doubling or reversing the position with one click
  • Ability to define the Break Even level
  • Support for custom indicators and automatic strategies
  • Possibility to copy items from and to MT4
  • Storing platform settings on the server
  • Ability to choose your own time zone
  • MQL-cAlgo converter
  • cMirror – a service for copying transactions of other investors

cTrader Pros:

  • modern and easy to use
  • advanced order options

cTrader Cons:

  • not as readily available as MT4 with limited broker support
  • faster computer and internet connection speed is required

Should I trade with MetaTrader 4 or cTrader?

When contrasting MetaTrader 4 vs cTrader, we should acknowledge that many of the differences are simply a matter of taste and that both platforms work just fine for trading. There are still a few significant changes to be aware of, though.

Use of cTrader is typically advisable if you want to trade symbols other than Forex pairs, for instance.

When we compare cTrader to MT5, both of them are extremely adaptable in this regard, however MT4 is restricted to Forex pairings and only a small number of other securities, whilst cTrader offers a large number of other possible symbols.

In terms of these products’ user interfaces, cTrader has a more contemporary style and lets users switch between light and dark themes, whereas MetaTrader 4 has a vintage design with white and gray panes. Once more, personal preference dictates the design option.

As for a suggestion, more experienced traders would definitely require more indicators, tools, and charting timeframes than what are available in cTrader, whilst beginners should probably utilize MT4 due to its simplicity and lack of features.

Conclusion: is cTrader better than MT4?

Despite the fact that each platform has advantages and disadvantages, cTrader generally provides better software and more advanced trading capabilities than the default MT4 platform. The MetaTrader 4 platform provides a better option for automatic trading due to its large community surrounding the development of EAs, whereas cTrader has a clean user interface and capabilities that are more relevant to day traders and scalpers. Either way, you cant really go wrong as both are excellent trading platforms in their own right.


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