MetaTrader 4 (MT4) and cTrader are both popular electronic trading platforms used by traders to trade in the forex, futures, and CFD markets. While both platforms offer similar features, they also have some differences in their functionality and tools.
In 2005, MetaQuotes Software Corp released MT4. Millions of traders use it as their primary trading platform, and it provides a variety of sophisticated trading tools and features, such as automated trading through the use of Expert Advisors (EAs), advanced charting capabilities, customizable trading options, and a built-in strategy tester for backtesting trading strategies.
The trading platform cTrader, on the other hand, was created by Spotware Systems Ltd. and debuted in 2011. While being a more recent platform than MT4, it has quickly become well-liked by traders thanks to its sophisticated order types, open pricing, Depth of Market capability, copy trading feature, and a variety of sophisticated charting tools. We will see the differences between both these trading platforms in the article in detail.
Here are some of the key features of MT4 and cTrader:
- Friendly Interface– MT4 has a user-friendly interface that is easy to navigate, making it a popular choice for both beginner and experienced traders.
- Charts– MT4 offers a range of charting tools, including the ability to create custom indicators, analyse multiple timeframes, and apply a range of technical analysis tools.
- Auto Trading– MetaTrader 4 allows traders to trade automatically using Expert Advisors (EAs). EAs can analyze the markets and execute trades automatically based on predefined criteria.
- Customizable trading– MT4 gives traders access to customize their trading experience by creating their indicators, scripts, and automated trading strategies.
- Backtesting– MT4 has a built-in strategy tester that allows traders to backtest their trading strategies using historical data.
- Assets– Although traders can trade multiple assets, MT4 is primarily built for trading forex.
- Advanced order types– cTrader offers a range of advanced order types, including market, limit, stop, and trailing stop orders, as well as conditional orders like OCO (One Cancels the Other) and IF-Done orders.
- Transparent pricing– cTrader offers transparent pricing with no dealer intervention, allowing traders to trade on raw spreads and access interbank liquidity.
- Depth of market– cTrader offers Depth of Market (DOM), which allows traders to view the number of buy and sell orders at different price levels. This information can help traders make more informed trading decisions.
- Advanced charting capabilities– cTrader offers advanced charting capabilities, including the ability to create custom indicators and apply a range of technical analysis tools.
- Copy trading– cTrader offers a copy trading feature, allowing traders to automatically copy the trades of other successful traders.
- Assets– cTrader might be useful if you want to trade stocks, cryptocurrencies, or other high-value assets.
In summary, both MT4 and cTrader offer a range of advanced trading tools and features. MT4 is popular for its user-friendly interface, automated trading, and customizable trading options. While, cTrader offers advanced order types, transparent pricing, and Depth of Market functionality. Ultimately, the choice between the two platforms will depend on the trader’s individual needs and preferences. If you’re a beginner trader then MT4 will be more suitable but if you have some experience, you can consider the cTrader trading platform.