Best cTrader Forex Brokers
Max Leverage: 500:1
Min. Deposit: $200
Spread: From 0.0 Pips
Full Reviews: Read the full review
Max Leverage: 500:1
Min. Deposit: $0
Spread: From 0.0 Pips
Full Reviews: Read the full review
What is cTrader?
The cTrader platform is one of the most commonly used online Forex and CFD trading software and trading platform on the market. It’s a ECN (electronic communications network) trading platform designed by the software company Spotware Systems. The cTrader platform guarantees STP (straight-through-processing) for orders placed by Forex traders, allowing them to deal directly with banks and liquidity providers without the intervention of a dealing desk (NDD).
The cTrader platform is not as widely used as the two MetaTrader (MT4 & MT5) trading platforms and traders have a much smaller selection of Forex brokers available that provide this platform to their clients. Nonetheless, especially professional traders enjoy cTrader’s exclusive features which we will look at in more depth now.
As stated on Spotware’s homepage, “cTrader offers advanced trading capabilities with fast entry and execution, asynchronous order processing, level two pricing, a full range of advanced order types, an abundance of information to support risk management and help investors to make smarter trading choices.”
The cTrader trading platform is available as three different version:
- cTrader desktop
- cTrader web (webtrader)
- cTrader mobile (android and iOs)
The cTrader desktop version can be downloaded to a PC or laptop whereas the cTrader web platform is a web-based version that is not downloadable. The mobile versions of cTrader are built for Android devices as well as iOs devices (iPhone and iPad). This allows traders to trade Forex with cTrader on the go. The cTrader mobile apps can be downloaded from the respective app stores (Google Play for Android and App Store for iOs).
cTrader web (webtrader) is a fully functional web version of the cTrader trading platform with the same amount of charting and trading features as the desktop version. As cTrader Web offers the same functionality for manual trading and charting to the desktop version of the application, it allows users to get access to their trading accounts and trade from a variety of devices and operating systems.
As said before, cTrader is an STP platform and one of the main advantages is that it completely excludes the possibility of a dealing desk intervention. Overall, cTrader boasts many excellent trading tools and unlike other platforms, cTrader can display DOM (Depth of Market) with the full range of executable prices coming directly from liquidity providing institutions. This is a big plus that other trading platforms such as MT4 & MT5 cannot offer.
Professional Forex traders also enjoy the cAlgo integration, which allows for the creation of custom indicators and robots, as well automated trading. Another convenient and ultra-handy feature is cTrader’s chart trading which enables the sophisticated users to click & drag and place orders directly from the charts windows.
With cTrader Copy, traders have access to a flexible and sophisticated investment platform that allows the copying of trading strategies, as well as featuring one’s own strategies for copying by other traders. This copy-feature and tool is highly intuitive and most users will find it easy to use. All the trading strategies can be discovered, followed and copied directly from the cTrader Copy main page without any long-term commitments, and any trader signed in with their cTrader ID can invest in any given strategy as long as their broker-dealer has enrolled to the cTrader platform.
The cMirror application allows traders to Mirror (copy) the trades of so called Signal Providers using market orders for entry. It also allows any user to become a Signal Provider themselves so that they can offer their trading signals to other traders and charge commissions mirrored for the provided service. cMirror works for all cTrader accounts.
On top of all these great technology features given to the sophisticated trader with this platform solution a FIX API solution is also being offered. FIX stands for Financial Information Exchange, which is an industry driven machine-to-machine communication protocol that has been specifically designed to handle considerable amounts of financial data and information and transmit this information at the fastest way possible.
FIX API is a financial industry standard messaging protocol which has multiple applications and use-cases in the market. The FIX protocol specification provides the relevant format for electronic messages and the inherent communication model of those messages. It has been designed and is managed by the FIX Trading Community previously known as FIX Protocol Limited (FPL). The FIX Trading Community is a non-profit organisation which regulates the standard of FIX API through the collaboration of major industry participants and committee members.
FIX API is widely used by institutional and high-frequency traders to automate multiple processes and order functionalities and improve trading performance by being able to receive data and submit orders in the shortest time possible. For individual traders of all levels, it brings a totally new investment and trading opportunity to the table, such as lower trade execution times, a highly flexible approach to develop and test algorithms using any programming language or other desired tools to provide themselves with a professional solution and more.
Which are the best cTrader Forex Brokers?
There is only a limited amount of cTrader brokers that offer the advanced cTrader trading platform and ECN or STP trading models in general. All trading strategies are accepted on ECN brokers trading platforms which makes it ideal for day traders, scalpers and EAs alike.
ECN (Electronic Communications Network) and STP (straight-through-processing) brokers are the opposite of so-called “market makers” as they do not operate a dealing desk (NDD). Instead, they fill clients’ orders without intervention and allow for direct access to the markets. This means that it is not the broker who sets the price but the market itself. ECN brokers offer users with so called direct market access (DMA), which means that no dealing desk is intervening.
As always, we recommend that you choose a Forex broker that is licensed and regulated, even if this doesn’t change the fact that margin trading poses a high risk of losing all capital.
ASIC- (Australia), FCA- (UK) and CySEC- (Cyprus) regulated brokers are usually a good choice as they commonly guarantee the safety of deposits and put client funds in segregated trust accounts with top tier banks. Of course, investors should always be aware of the high risk that is involved in margin and CFD trading. Please always be aware of the risk of losing your money.
Pepperstone, a Melbourne, Australia and London, United Kingdom based Forex broker focuses on offering traders with low-cost pricing across Forex, CFDs and commodities and is one of the best cTrader brokers on the market.
Licensed and regulated is Pepperstone by ASIC (Australian Securities and Investments Commission) and the FCA (Financial Conduct Authority). Pepperstone takes great pride in offering a culture of strict compliance and full adherence to all applicable regulatory laws and frameworks, further incorporating trade execution with pricing from 22 banks and companies providing liquidity as well as a 100% automated execution.
Customers at Pepperstone can choose from a selection of leading online Forex trading accounts and platforms, including MetaTrader (MT4 and MT5) as well as cTrader, and have access to 80+ trading instruments such as FX (currency pairs), metals, cryptocurrencies (such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash), oil and indices from around the globe with institutional grade pricing. Further giving access to a maximum of up to 500:1 leverage and the ability to trade micro lots on currency pairs, oil and metals, clients at Pepperstone can benefit from spreads as low as 0.0 pip and $1 per point on 11 major index CFDs. The broker Pepperstone doesn’t cover the widest range of markets to trade in; however, it does offer excellent trading conditions and great customer service. Ultra-low spreads, starting from 0.0 pips on a some of the major Forex pairs with commission charges as low as AUD 3,50 per 1 lot.
Our review of leading cTrader brokers also highlights another Australian heavy-weight broker: IC Markets is an outstanding ECN Forex broker that provides MetaTrader 4 and MetaTrader 5 as well as cTrader trading.
They are also an Australia based Forex broker with an excellent reputation and product portfolio. Giving their clients the option to either use MetaTrader 4, MetaTrader 5 or cTrader platform as their trading platforms of choice, IC Markets designed one of the first True ECN trading environments. This offering has no restriction on trading including no minimum order distance (trades can even be placed within the spread), and scalping, hedging and automated trading all permitted. Their True ECN account spreads start at 0.0 pips with flexible leverage options offering up to 500:1. IC Markets’ MT4, MT5 and cTrader trade servers are located in the NY4 & LD5 IBX Equinix Data Centres in New York and London respectively, providing clients with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable low latency infrastructure.
Clients can test their exclusive trading environment with a cTrader, MT4 and MT5 demo account before applying their Forex and CFD trading strategies on a live account.