If you’re new to Forex trading (or even if you’re not!), you might not know what cTrader is. Essentially, cTrader is a type of trading platform called an Electronic Communication Network (ECN). It is a London-based brand that was designed to be adapted, so that it can be used by several brokers like a turnkey trading platform. The trading platform was first launched in 2011 by FxPro and aimed to offer their clients a trading platform that is transparent, as well as being more reliable and faster than other platforms.

 What is cTrader?

cTrader offers straight-through processing, also known as STP. When Forex traders place orders, it allows them to work directly with the liquidity providers and banks without the need for a dealing desk. There are other similar platforms, such as MetaTrader 4, and these do tend to be a little more popular. This means that traders on cTrader have fewer Forex brokers to trade with. The platform comes in different variations and formats such as cTrader web, cTrader desktop and cTrader mobile, which works on both iOS and Android. A cTrader download is quick and easy and gets you trading quickly with little fuss.

CTrader Forex Brokers List

The following list includes Forex brokers that provide the trading platform for cTrader. The cTrader Forex brokers include: IC Markets and OctaFX.

Broker
Description
Trade Now
Octafx
OctaFX
Regulation: CySec
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.4 pips

Review


FP Markets
FP Markets

Regulation: ASIC, CySEC
Min. Deposit: $/€/£ 100
Leverage: 1:500
Spreads: Ultra Tight from 0.0 pips

Review


NSBroker
NSBroker
Regulation: MSFA, BaFin, FCA,
Min. Deposit: $250
Leverage: 1:100
Spreads: Low as 1.2 pips

Review
XM
XM
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.1 pips

Review
Avatrade
Avatrade
Regulation: ASIC,JFSA,FSCA
Min. Deposit: $/€/£ 250
Leverage: 1:400
Spreads: Floating from 1 pip

Review


IC Markets
IC Markets
Regulation: ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:500
Spreads: Low as 0.0 pips

Review


Etoro
Etoro
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:30
Spreads: Variable

Review

XTB
XTB
Regulation: FCA
Min. Deposit: $/€/£ 250
Leverage: 1:30
Spreads: Low as 0.1 pips

Review


IQOption
IQOption


Regulation: CySec
Min. Deposit: $/€/£ 10
Leverage: 1:1000
Spreads: Floating from 1 pip

Review


OlympTrade
OlympTrade
Regulation: IFC
Min. Deposit: $/€/£ 10
Leverage: 1:500
Spreads: Low as 0.0 pips

Review
Globex360
GlobeX360
Regulation: FSCA
Min. Deposit: No min Deposit
Leverage: 1:500
Spreads: Low as 1.6 pips

Review

 

Forex brokers use the platform as executing trades is efficient as its way of charting. The layout is uncluttered and clean, which pleases many traders. It is very user-friendly and some would say intuitive too. It is used by many brokers, particularly the leading Electronic Communication Network, or ECN, financial services providers such as Admiral Markets, Pepperstone, and Liquid Markets.

The biggest advantage of cTrader is that it means there is no intervention from dealing desks. It is also set apart from a platform such as MT4 due to its chart trading. It’s just a click and a drag away from placing an order directly on the chart. When you are comparing cTrader vs. MT4, the ease of use of cTrader is second to none. MetaTrader is much messier in comparison.

cTrader also shows Depth of Market (DOM) allowing traders to see the entire range of prices from the liquidity providers.

 Advantages of cTrader FX Brokers

Since cTrader is an award-winning trading platform, it contains a lot of features that are almost unheard of in the brokerage industry. The first benefit that comes with cTrader is that it provides traders the ability to see the full depth of the market, with liquidity providers’ execution prices. This means that the operations are improved significantly with the trading platform, and offers traders the option to eradicate any possible dealing-desk (DD) interference. Another advantage with cTrader is that it offers unique features such as: charting and analysis instruments, along with customization currency pairs that are tailored to the trader’s preference for traders to use. cTrader also has a variety of order types, which include: market orders, stop orders, limit orders, and many others. These different order types allow traders to trade without a queue, since it is processed simultaneously.

The final advantage of cTrader consists of more than thirty technical indicators, trading trends, and charts. With all these options, traders have the ability to customize the interface that is tailored to their needs and preferences. cTrader also provides the option of creating custom indicators and robots for trading to be automated.

 

Disadvantages of cTrader FX Brokers

With cTrader, despite the attractive features that surround the trading platform, there are drawbacks to the platform. The first drawback is that there are no native stop- limit pending orders, and no technical support for one-cancel-other orders, or known as OCO. There are no tick charts, and no optimization; the trading platform also has very limited features in back-tests. Also with back-tests, the trading platform prohibits traders to save the report to file in the results, and there is a restricted time period for automated back-testing with a maximum of one year.

The second drawback mostly revolves around the charting tools of the trading platform. The charting tools do not have the ability to edit through; this means that traders can move the tools around, but they do not have the option to set any quantitative levels of price or time.  There is also a limited range of charting tools, which is incomparable to that of MetaTrader5. Finally, the chart history is very limited and traders have very restricted access to most histories.

To Conclude

So, what has cTrader done that’s new? Well, it has made the advantages of financial institutions available to the masses, i.e. Forex traders, for the first time. There is now no conflict of interest, powerful insights into liquidity, execution speeds that are super-fast (even when the market is volatile), as well as a platform interface that is completely user-friendly. What more could Forex traders want?

With cTrader Forex brokers, there are many advantages and disadvantages to its execution and interface. On the plus side, cTrader encourages for traders to customize everything about their accounts and tailor it to their preferences. On the other hand, many traders have responded that there is limited access to cTrader and that there are not as many features as that of MetaTrader. Since cTrader offers many unique features, it is best to highlight the most important one, which is that cTrader gives traders the ability to see the full depth of the financial market.