cTrader: All You Need To Know About It
cTrader is one of the most popular platforms for trading Forex today, and it is often offered along MetaTrader and WebTrader, making the three pillars of today’s Forex brokers.
While not as popular as MetaTrader 4 or 5, cTrader has earned a lot of praise over its swift and fluid functionality, combined with an intuitive interface and fast trade execution.
Due to its growing popularity among ECN brokers, many traders will need to familiarise themselves with cTrader, and this article will help you do just that.
What Is cTrader?
cTrader is a trading platform created for Electronic Communication Network - or brokers. The concept of ECN trading, and thus the platform, opens the door to transparent and flexible trading by connecting traders and liquidity providers directly.
It also allows traders to interact with each other, so a variety of trading styles can be benefitted from cTrader.
As a plus, cTrader is part of a software suite, which includes cAlgo and cMirror. Respectively, they are an automatic trading platform and a copy trading one, giving cTrader even more functionality.
cTrader is praised by its liquidity, and that is because its developer, Spotware, requires all brokers to have a connection with a recognized liquidity provider before offering the platform.
This makes it so that trade execution is swift and short-term trading - like scalping - can be encouraged.
Additionally, cTrader virtually eliminates the possibility of price manipulation by market maker brokers, as even then, they must be connected to a liquidity provider and offer their prices.
Multiple Versions of the Platform
cTrader can be downloaded or accessed through a web browser, and it also offers Android and iOS versions.
Web-based, it is based on HTML5, and it provides with a variety of features and trading, making it responsive even on mobiles.
The desktop version is comparable to the web platform but it offers additional depth when it comes to features and tools. It supports cBots from cAlgo for automated trading.
The mobile versions use a similar interface and feel, providing consistency in user experience regardless of the platform they choose.
Charting is one of the main attractions in cTrader thanks to the depth it offers in this function, with only the indicators’ part offering 64 different tools by default; that is without counting in drawing tools.
The cTrader Developer Network is available for professional users for the acquisition of more advanced custom indicators and the creation of their own.
This easily makes cTrader one of the most versatile and featured platforms available today by default, and the cTDN further expands this.
Disadvantages of cTrader
However, nothing is perfect, and users need to be wary of what can be troublesome if they wish to be successful.
When it comes to trading tools and automated strategies, cTrader offers much less variety, especially when compared to other platforms or even its own provision of indicators and drawing tools.
In addition, beginners may be intimidated by cTrader. That is because, while the design is clean and highly intuitive, the number of charting tools and indicators offered can leave an inexperienced (or even intermediate) trader baffled.