Best cTrader Forex Brokers 2023
Forex Trading becomes easy when you trade with a feasible platform. cTrader is such a platform that can provide your laidback trading experience. And, the trading becomes more fun when you get connected with the right broker and the cTrader web platform.
A lot of forex trading platforms are available in the trading industry. Some of them are created by an individual broker, while some are third party platforms, who are only focused on providing platform service.
Today, we are going to discuss a third-party platform service provider, cTrader. After finishing this article, you will know the details about it and some information on cTrader brokers.
What is cTrader Platform?
cTrader is a forex trading platform, which is a specially customized platform designed for ECN brokers. However, cTrader aims to add value to two functions, the first one is trade execution, and another one is charting. The design is also clean and very attractive. The good thing about cTrader is they offer a competitive price with a swift trading feature.
Who owns this Platform?
Spotware software owns cTrader, which was established in 2010 in Cyprus. It was founded by Andrey Pavlov, who is a FinTech entrepreneur. However, they have an in-house team to complete all the tasks. cTrader is Spotware’s flagship forex trading software. With the collaboration of some top-class forex brokers, cTrader made them credible over the years.
How does cTrader Work?
cTrader forex trading platforms don’t offer any account to retails clients; instead, they are broker-centric. So, you will need an account with cTrader brokers to avail of the cTrader services. However, they provide service to some world-class trustworthy brokers.
Brokers can connect to the cTrader platform via API, and you can directly access it via your broker account. Besides, you can download the software on your devices and start trading through the deposited money in a broker account.
How do You Use cTrader?
You can use cTrader on different devices, and they have software to download on your favorite devices. You can use cTrader via desktop software, web, android, and iOS devices.
Desktop software is available to download on your PC, which is available for Windows 7, 8, and 10. However, it is not available for the MAC operating system. MAC users can use the cTrader web platform.
cTrader web offers an identical version of the desktop platform. So, regardless of your operating system, now you can use it via any latest web browser. Although they have a desktop and mobile software, they widely focus on the cTrader web platform as it is compatible with any devices without downloading it. Some of the best features of cTrader web are-
- Supports all popular browsers such as Google Chrome, Mozilla Firefox, Safari, and more.
- Brokers can add the cTrader web to their website as a custom domain so that you don’t need to head to the cTrader website all the time, and you can use it via the broker’s website.
- The native web platform doesn’t require you to purchase or install any third-party tool.
If you have an android phone or tablet, you can download the app from Google Play and log in with your web or desktop id and password to access the account via your broker and start trading from your phone.
Since there are millions of iOS users, cTrader has the iOS version too for the iPhones and iPads. Like the android, you can use it on your iPhone in the same way.
Features of cTrader
When you use the cTrader platform with the best forex broker, you can observe the feature first hand. However, cTrader doesn’t don’t offer services to so many brokers; you will get to select from a few top brokers. From different cTrader forex broker reviews, we found the following features-
It provides advanced trading opportunities that proceed with fast entry and execution, level two pricing offers, advanced order types, and more. Some of the cTrader tradings feature you will fall in love with are-
- Quick entry and execution: cTrader provides the fastest service, which can execute in a millisecond. Additionally, you can execute multiple orders simultaneously at the same speed.
- Level two pricing: The depth of the market shows that the cTrader offers the prices that are coming from the liquidity providers. Furthermore, orders are compiled against the total order book. It also has some advanced order protection, such as choice of trigger methods, which may work on the opposite side for stop loss and pending orders.
Additionally, it offers two stop-out types to provide the best recovery chances and frees the much possible margin.
- Quick Tarde: This option in cTrader provides the opportunity to open, close, or modify the orders within one or two clicks from any pages of the platform. So, traders can respond to the fast-moving markets as early as possible.
- A wide range of orders: cTrader supports 9 different types of orders such as Market orders, Stop order, Stop-limit order, One cancels the other, Market range, Limit order, Market order on open, Time of the day and Good till day. Additionally, the range of order also includes volume tooltips, symbol info, market snapshot, watchlists, market sentiment, and email alerts.
Its highly advanced, intuitive, and modern platform provides exclusive charting and analysis tools for the users. However, you can initiate a trader from the chart, which is very responsive and effective.
Besides, a variety of chart views can help you to create different strategies. You can analyze the chart in 6 different zoom views along with 54-time frames.
The cTrader charting also includes a technical analysis tool for trend indicators, volatility measures, oscillators, and more. Besides, more than 70 pre-installed indicators along with customizable indicators, which are downloadable from the cTrader store.
Detachable chart viewing mode on multiple chart templates can also boost the trading experience.
If you are familiar with forex trading, you should be aware of copy trading features of different platforms. cTrader copy offers copy trading services to its users with the integration of risk management tools and strategy to copy from a winning strategy. However, it was known as cMirror before.
cTrader copy trading features help a trader by providing advanced analytics, strategy profiles, and equity to equity copying.
cTrader Open API
Its open API is free and editable, and users or brokers can build their own applications using it. Additionally, with the use of open API, you can display your own customized trading results, create trading robots, create a notification system, make a trading application, create a chart and widget. However, if you are not satisfied with the pre-installed copy trading system, you can create your own copy trading system by applying different proven forex trading strategies.
FIX API for Retails Trader
cTrader’s fix API allows the retail traders to a trader via fix message with the use of cTrader account. Each user will have FIX API credentials from the platform, which generates the spot prices, order types and monitors order position and status.
It is another term for algorithm trading. However, cTrader automates trading also features manual trading too, which provides the utmost productivity with efficiency. Additionally, trading automation can enhance productivity through an in-built code editor, API, and plug & play automated trading.
With the cTrader automated trading, users can do the backtesting, optimization, check the strategies, etc., before deploying the automation.
cTrader Video Library
The platform supplies a bunch of video tutorials about using the cTrader forex broker and teaching everything about trading. Apart from video, they also send news and articles about the current world so that traders can take necessary steps if needed.
What is the Market range in cTrader?
While researching for cTrader, we had to go through different forex trading platforms, which enlighten us about the cTrader market range feature. It is a maximum deviation from the showing price in the platform through which you can fill your order. For example, if the asking price for EUR/USD is 1.38528, and you placed the order at 2 pips market range, the order will not proceed as it is higher than 1.38528.
Benefits of Using cTrader
cTrader entitled numerous benefits for the traders and the brokers. We have listed the top benefits below.
- There is no dealing desk intervention, and you can easily trade against the market.
- Trade with low cost and can save your money.
- Fastest possible execution opportunity.
- Choose from different leverage that goes with your trading style and strategy.
- You can access the real-time quotes on forex and CFDs.
- Offers variations in spreads with a low commission.
- Trading in micro-lots.
- One-click trading with real-time reports.
Unlike other popular trading platforms, cTrader works with a limited number of brokers from the top forex brokers list. However, they are broker-neutral, and any broker uses the cTrader forex trading platform. But, cTrader works with the best forex brokers to provide a premium trading environment to its traders.
However, they have launched the program with FxPro initially and then went on to collaborate with 17 other top brokers such as IC Markets, Pepperstone, Axiory, Fondex, OctaFX, and more. These are long term brokers who have been taking cTrader’s service for years.
Since cTrader is broker-centric, they don’t deal directly with the retail customers. So, as a trader, if you face any problem, you should consult with your cTrader broker. However, cTrader provides support via the forum, and it is accessible by all.
In the forum, they have different sections for each part of the platform. So, if you face any problem using it or have any confusion, you can definitely ask any question, and experienced users or someone from cTrader will reply to you regarding the desired solution.
With their top-notch service, cTrader has earned several awards. Their technological intervention helps them to get accepted widely. The first award they bagged in 2012 from FXStreet as the “Forex Person of the Year.” After that, they have got 9 different awards over the years.
The recent one came in 2023 by International Business Magazine, and cTrader has been recognized as “Best Forex Trading Platform Cyprus 2023.”
Some traders and brokers think cTrader is better than MetaTrader platforms to some extent. However, both of them special in their own place, so we are not going to compare. Over the years, cTrader brokers have developed tremendously.
cTarder forex trading platforms will get you the ultimate trading experience as they offer a customizable platform with many technical indicators. Besides, the community of helpers via the forum should be another good reason to choose brokers who have the cTrader platform.
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