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Forex trading is conducted using currency pairs. Some of the most used trading platforms are MT4 and cTrader. Traders often ask the question which is the better cTrader or Metatrader, what are the main differences between them, and what are their pros and cons.
MetaTrader4 is a trading platform that is provided and developed by MetaQuotes. MT4 was created in 2005 and is one of the most used trading platforms among traders. What’s more, MT4 provides traders with 9 timeframes and more than 40 indicators. It should be noted that the MT4 interface is quite user-friendly and makes it easy to coordinate on the platform and conduct trading processes.
While comparing MT4 to cTrader, it’s important to give you some basic information about cTrader too. The mentioned platform was developed by Spotware company and was released in 2011. Compared to MT4 cTrader offers its customers more complex and diversified indicators and features.
Also, unlike MT4, cTrader is using the C# language for developing some technical indicators and scripts. Also, it is worth noting that cTrader is a more modernized platform, which offers traders a dot chart, which is one of the additional tools for trading and reaching success in the FX market.
This MetaTrader vs cTrader review allows you to get all the useful and profitable information about the platforms and supports you to decide which one of these platforms is more useful and profitable to start trading FX.
MetaTrader4 and cTrader – a basic overview of trading platforms
When you want to trade Forex, you want a service provider, known as a broker. Through the brokers, they can get access to trading platforms as well. So, in the process of choosing the best and the most suitable broker for you one of the main indicators can be the offered trading platform.
Each of the platforms – MT4 and cTrader are available for most of the brokers. Also, it is worth mentioning that brokers are deciding through which instruments you are able to conduct trades. As long as many traders are taking into account the backstory of the trading platforms while choosing them, it’s important to provide you with the mentioned information while MetaTrader and cTrader comparison.
A quick background of MetaTrader4
As already mentioned, MetaTrader4 is a trading platform which is developed by MetaQuotes. It was released in 2005, which means that the trading platform has a significant backstory. It is worth noting, that from 2005 till today it has changed a lot and has added several updates and new features. What’s more, it should be said, that MetaTrader4 is suitable both for experienced FOREX traders and newcomers.
A quick background of cTrader
The difference between MetaTrader and cTrader can be found in the background story, as well. While MT4 was created in 2005, cTrader is younger and was released in 2011. It was provided and developed by Spotware. Even though the MT4 has a longer history than the cTrader, cTrader allows people to use the more modernized indicators and features. Also, it should be noted that a common programming language for cTrader is #C programming language, which is quite easy for users to orient and implement trade-related actions.
cTrader vs MetaTrader review – What are the main differences?
For understanding which one of the two trading platforms is the better it’s important to give you detailed information about their main differences. After getting the information about their contrasts you can easily understand which of these platforms worth it to use for conducting trading processes and trading in Forex.
Differences in design
When you go on the MT4, the first impression about the interface is that it looks like Windows XP. The design includes white and grey light colors. Available live charts and most of the indicators can be seen in the program when you go on the MT4.
What’s more, you can see here the charts about popular instruments and securities in Forex. Besides, other available tools can be seen on the left and at the bottom of the screen. Even though that MT4 trading platform looks more like an old version and isn’t modernized, it’s still one of the favorite trading platforms for FX traders.
In contrast with the MT4, cTrader offers investors a more modernized design, which is noticeable at first glance. Furthermore, when you go on cTrader the design makes the first impression of looking something more professional and more useful, than on MT4. Moreover, the main advantage of the cTrader is that it allows traders to choose the color of the theme. They can set both dark and light themes and make the trading process more comfortable. What’s more, when you look at the interface of the cTrader it’s obvious where to find important and necessary tools and indicators for your trading.
When it comes to MetaTrader vs cTrader comparison in the way of a design, it should be said that both platforms are offering their customers a user-friendly interface. Because of that user-friendliness, the use of each platform is quite easy.
However, it is worth noting, that while on the MT4 trading platform there are 4 live charts on the screen, on cTrader there is one live chart that supports four following charts and makes it easy to navigate on the trading platform. Because of its minimality cTrader has a bigger space than it’s on MT4. Furthermore, position details, indicators, and other features are available at the bottom, which is easily perceptible.
Differences in programming languages
Firstly, it should be said, that MT4 uses the specific language for implementing processes, while the programming language of cTrader is based on the commonly-used language. What’s more, the programming language of MT4 is a little bit old-fashioned and doesn’t function on its successor MT5, which is one of the disadvantages of the trading platform.
It is also worthy to note that #C language, which is a quite popular programming language with programmers. That means, cTrader allows traders to create scripts, new features, and tools, all by themselves and use them while trading Forex.
So, while you compare cTrader vs MetaTrader in the way of the programming languages, it can be said that in this way cTrader has more advantages over MetaTrader. Its use is easier for practical reasons than using the MT4 programming language MQL4.
Main differences in order types
cTrader as a trading platform offers its trader several order types, which are in most cases manual and allows traders to conduct successful trading processes. In contrast with the cTrader, which is extremely focused on manual traders, MT4 offers traders basic order types, such as market orders, limit orders and stop orders.
As we already mentioned, cTrader offers investors several types of order types. Those order types are more improved and advanced combinations, including market range orders and stop-limit orders. What’s more, it allows you to use basic stop orders and stop losses, as well. Through those orders, traders can get benefits and avoid money losses or losing all the gains from trading.
Trading MT4 vs cTrader can be different, though all the above-mentioned contrasting order types. Also, cTrader offers its users advanced protection settings, through this advantage traders can stop their trading process for a certain position and take the benefits they gained from the implemented trading process.
Can you auto trade on MT4 and cTrader?
One of the main advantages of using both MT4 and cTrader for trading Forex is that it allows you to conduct auto trading. What does auto trading mean? The main idea beyond auto trading is that it allows you to conduct trading processes automatically. It allows traders to save their time.
Through auto trading, traders don’t need to spend most of their time looking at the charts and ongoing events, instead, through the AI they are allowed to get benefits from the algorithm and indicated strategy.
As already mentioned, auto trading features are both available on the above-mentioned trading platforms. So, when it comes to the comparison and making choices whether MetaTrader or cTrader in the way of auto trading, there is no exact answer and you have to observe other features and indicators, that are provided by the mentioned trading platforms.
Main advantages for MT4 users
An additional advantage of using the MT4 trading platform is that it provides traders with multilingual services. Through this feature, traders can conduct their trading process more conveniently and without language barriers. You can choose among many languages the most comfortable language for your trading process.
Furthermore, one of the biggest advantages of the MetaTrader4 is that it’s simple, easy to use, and popular among FX traders. The first time you use MT4, you can see its user-friendliness. Furthermore, MT4 is more recognizable in the market. MT4 is very easily accessible for traders because it is offered by the majority of brokers.
For making it easier to compare MT4 vs cTrader it’s important to give you more information about cTrader’s advantages as well.
Main advantages of cTrader
One of the main advantages of using cTrader as a trading platform is that it allows traders to have access to several charts. You can find charts here that are showing ongoing trends and through that trends decide whether it worth it to trade with a certain instrument or not. Some of the available market trends preview charts include Multi-Chart, Free Charts, and Single Chart.
Furthermore, you can get benefits from the opportunity of having access to the depth of the market. Here, you can access them in three different ways, including Standard, Price, and VWAP. Each of those features allows you to accurately track the market’s liquidity and gain money through the processes that are taking place in the FX market.
One of the significant advantages, which worth noting while comparing cTrader vs MetaTrader is the number of indicators and time intervals. The indicators that are available on cTrader, like Bollinger Bands, Moving averages, MACD, and so on, allows you to get almost quite useful market analysis. What’s more, trading platforms allow you to place your trades at different time intervals.
Moreover, cTrader allows investors to use mobile applications that are free to download and can easily be found both in PlayStore and AppStore. Through this feature, you don’t need to have your PC with you, instead, you can conduct trading processes without losing your time.
Final Thoughts on MetaTrader4 vs cTrader
When it comes to comparing these two platforms, it is hard to say that one is better than the other. The main thing is that it depends on you, your strategy, and the way you want to trade Forex.
As you’ve already seen there are some main differences between the two mentioned platforms. What’s more, each of the trading platforms has its own advantages you can get through using them while trading Forex.
As it’s mentioned in the beginning, both cTrader and MT4 are some of the most popular and most used trading platforms in Forex trading. Each of these platforms has its own advantages and disadvantages, that you need to consider before you start trading.
While writing about cTrader vs MT4, it is worth noting that cTrader furnishes traders with extra safety. Through the mentioned trading platform traders can manage their risks and get many tooltips, risk calculators, signals, alerts, and so on.
If you are a type of trader, who likes trading manually and wants to use a handful of tools, indicators, and features, then it’s better for you to use the cTrader and get the service of EA, as well.
However, if you are a type of trader, who has little experience in the FX market and trading processes, then the better choice for you is to start using MT4.
Frequently Asked Questions on MT4 vs cTrader
Is cTrader better than MT4?
Is cTrader cheaper than MT4?
