cTrader: Advanced Platform for ECN / STP FX Trading
cTrader came into existence in 2011, when a Cyprus based financial technology provider - "Sportware Systems" developed a platform for STP access into the forex market. This platform is primarily incorporated by ECN brokers allowing traders to place their order in a feature rich and non-desk dealing environment. It can be used for trading currencies, indices, CFDs, energy, metals and equities.
In fact, to let you trade anytime and anywhere; cTrader is available on any screen and device where you can opt for either cTrader web or cTrader iOS & Android. Further, it is complimented by two supporting programs which are cMirror and cAlgo.
Functions of cTrader
cTrader is designed to perform crucial functions such as charting and trade execution but with a simple layout. Within a glance, traders can witness the effectiveness of its clean interface and customize it according to demands of their fundamental and technical analysis. Other important features such as account management, back testing, trade logging, indicators and charts are even part of the platform.
Charting in cTrader
The charting of cTrader is sharp and thus it allows easier movement from one chart to another. Though this may not seem to be an essential feature, but when you are working on a short-term strategy where every second matters, being able to switch multiple charts can have a world of difference to your success. The charts are placed closely, which can be detached when you want to observe the details of one particular pair.
Many more significant changes can be performed by changing the color, timeframe or adding indictors to the chart.
The essence of cTrader is that there is no dealing desk associated with it. This means that when you place a trade then you are actually transacting it with a counterparty and thus you are able to deal with a realistic market. Moreover, there are many advance tools like algorithms, level 2 pricing, open hours for trading sessions so that traders can make the most of high-speed order execution.
However, even if there is no dealing desk, there can still be the only one market maker / liquidity provider behind your broker who will b-book all orders (will be the only one counterparty). For more information take a look at our "Truth about Forex Brokers" page.
Also do remember, if you have never traded in the live market before then do analyze the demo version of cTrader first and then make your way towards the real-market. This can make you aware of the user interface and how the order execution works.
Depth of Market Functionality
cTrader is equipped with Depth of Market (DOM) functionality which enables the user to identify the range of buy and sell prices from liquidity providers of a broker. It is worth a mention that this advance tool will likely suit almost any trading style.
Despite of the popularity of cTrader, it is only offered by a limited number of brokers. But, with time soon it can take over the market due to its incredible range of features.
When compared with MetaTrader4, then the choice should be based on your preferences and your trading strategy as forex traders who are focused on availability and EAs can opt for MT4, while the some other traders with a specific trading style who require advance options with a greater ability for modifications in interface can end their search with cTrader.
Also always do remember, the trading platform is the only one important factor, broker's quality, fairness, his liquidity providers, trading servers, deposit security are other important factors that you should consider when choosing the right broker.
High Risk Warning: Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Any opinions, news, research, predictions, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. FX Trading Revolution will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.