The cTrader Platform is Taking on the Might of MetaTrader 4 and 5
For many years the MetaTrader platforms were by far the most popular in the world of Forex trading. However, in recent years a number of other software companies have launched their own trading platforms. One of the most talked about is cTrader, the latest offering from Spotware Systems.
cTrader trading platform is a great tool for beginners and more experienced Forex traders, and provides direct STP access to currency markets, internationally. This access brings the benefits of no dealers, re-quotes, or delays in the execution of orders. In fact it guarantees instant execution. There are a number of cTrader Forex brokers to choose from, but let’s look at some of the ways cTrader has made a name for itself in the world of Forex trading.
Charting and indicators with cTrader Forex brokers
With the cTrader platform there are heaps of different line studies, objects and indicators. Traders will be bowled over with the range of choices. There are a huge range of timeframes, indicators, and a number of other tools for traders to use. There is little difference between this platform and the competition.
Back-testing and auto-trading
cTrader fully supports autotrading and backtesting. Anyone with a cTrader account can use Spotware’s cAlgo platform, designed specifically for automated and algorithmic trading. The trading robots on this platform use a popular programming language, but it isn’t the easiest to understand, particularly for newcomers. If a trader wants to build a custom cAlgo program this is not currently possible.
It is, however, possible to hire a programmer to customize the cAlgo robot, but there aren’t many around. There are some commercially available programs that can be used on the platform, but nowhere near as many as MT4 and MT5.
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Functionality relating to depth of market
The measure of the number of buy and sell orders, at a certain price level, is known as depth of market. Traders use it to scalp, feel out the market, and make big ticket orders. More and more traders are looking for the ability to see the depth of market.
With cTrader, the full range of executable prices can be seen, from a range of liquidity providers. Traders can easily get a feel of the price they can expect for large ticket orders. Traders are saying that depth of market functionality is much improved compared with the competition.
Entry and execution is swift
Whatever your trading style cTrader can be adapted to work to your advantage with a full range of options to suit all trading needs. Market Watch or TradeWatch can be used to trade directly , which is all down to cTrader’s QuickTrade interface. There is another option by trading through order screens, chart context menus, or by doing it directly from the chart.
The backend enables simultaneous order processing so that traders can take full advantage of every market condition, without having to worry too much about slippage. Some of the fastest order execution on the market is provided using the latest Cloud technology and data centers that are linked with liquidity providers.
Is cTrader readily available?
There are not yet as many cTrader Forex brokers as MT4 and MT5 Forex brokers. But new brokers are jumping on board as we write this article. It has become a very popular choice for ECN/STP Forex brokers because of the excellent depth of market functionality. Some of the best know Forex brokerage companies now offer cTrader to their customers.
A brief history of cTrader and Spotware
cTrader was founded by two entrepreneurs in Cyprus, in 2010. By 2011, the first version of cTrader was released and FxPro, a big name in the world of Forex, chose to be the first broker to offer cTrader. By the end of 2011, cTrader had undergone many updates and cAlgo was also released. A web-based version of cTrader was released in 2012, and was called cTrader Web.
The founders of the company received awards in 2013, from FXstreet.com. They were named as Person of the Year 2012. cTrader also received an award as th Best Retail Platform 2013, awarded at the FX-Week e-FX awards, which were held in New York.
CFDs on equities were added to the cTrader Suite, in 2014, and the cAlgo platform integrates with Microsoft Visual Studio. cMirror was the next to be launched by Spotware in 2015. Additional technology packages were also released to brokers offering the cTrader Suite in China.
The cTrader Suite, provided by Spotware, is available from a number of large European and Australian Forex broker, and we’re pretty sure more will be joining the Spotware family.
We will be featuring a number of Forex broker reviews here on this site, and we will be sure to keep you updated on the current platforms they use.