What is cTrader?
cTrader is one of the most commonly used online Forex trading software and trading platform on the market. It’s a ECN (electronic communications network) trading platform designed by the software company Spotware Systems. It 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 Forex 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.
What are the main features of the cTrader trading platform?
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).
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 providers. Professional Forex traders also enjoy the cAlgo integration, which allows for the creation of custom indicators and robots, as well automated trading. Another convenient feature is cTrader’s chart trading which enables the sophisticated trader to click & drag & place orders directly from charts.
Which are the best cTrader Forex Brokers?
There is only a limited amount of cTrader brokers offering 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 provide traders with direct market access (DMA).
As always, we recommend that you choose a Forex broker that is licensed and regulated. 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 trading.
Pepperstone, a Melbourne, Australia and London, UK based Forex broker focuses on providing traders with low-cost pricing across Forex, CFDs and commodities and is one of the top cTrader brokers on the market. Licensed and regulated by ASIC (Australian Securities and Investments Commission)and the FCA(Financial Conduct Authority), Pepperstone takes pride in offering a culture of strong compliance and full adherence to all applicable regulatory frameworks, further incorporating trade execution with pricing from 22 banks and liquidity providers and a 100% automated execution.
Pepperstone clients can choose from leading online Forex trading platforms, including MetaTrader (MT4 and MT5) as well as cTrader, and have access to 80+ trading instruments such as FX (currency pairs), cryptocurrencies (such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash), metals, oil and indices with institutional grade prices. Further offering up to 500:1 leverage and the ability to trade micro lots on currencies, metals and oil, Pepperstone clients can benefit from offers as low as 0.0 pip spreads and $1 per point on 11 Major Index CFDs. Pepperstone doesn’t cover the widest range of markets; however, it does offer excellent trading conditions. For example, Pepperstone offers ultra-low spreads, starting from 0.0 on Forex pairs with commission charges as low as AUD 3,50 per 1 lot on AUD.
Another outstanding ECN Forex broker that provides cTrader trading is IC Markets. 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 demo account before applying their trading strategies on a live account.
Find the best cTrader brokers for your needs
To help you find the Forex and broker that is best suited to your needs, take a look at our comparison table and ranking of top Forex and cTrader brokers above. If you require more in-depth information or are looking for more brokers to choose from, check out our detailed individual broker reviews and additional comparison tables.