In today’s digital world, there is numerous trading platform available for professional traders. With the growing popularity of online trading and its benefits, more and more people now do online trading as a full-time business. When it comes to choosing the Forex Trading Platform, you need to be a little careful as the platform you choose would decide your future in the online trading business.
CTrader and MetaTrader 4 are the most popular Forex trading platforms in the market. Today, we will differentiate their features and functions here so that you can pick the right platform. Ctrader Vs MT4 will clear your doubts about these popular trading platforms.
To make the most out of these platforms, VPS Hosting for Forex is highly recommended. The best thing about these popular Forex Trading platforms is they carry a bunch of similar features. You can find out a list of the same features on both the platforms that make them the industry’s most popular Forex Trading platforms.
If we talk about the similarities, both the platforms are compatible with computer systems as well as mobile operating systems. You can use these platforms on your iOS or Android Smartphones through their mobile apps.
Besides this, both platforms offer automatic updates with new features and functions. You will receive automatic updates when you connect your system to the Internet. They also support web-trading for quick execution and faster trading experience.
Now, let’s find out what are the differences between these two Forex Trading platforms.
CTrader Vs MT4
CTrader is the latest Forex Trading platform which was developed in the year 2011. The MetaTrader 4 Forex Trading platform was launched in the year 2005. Both the tools are available for free for online traders. They can start with their demo versions to see how these tools work for them.
CTrader offers a smooth and reliable user-interface with a highly customized dashboard. MetaTrader 4 offers a complex user-interface that requires skillful traders. For that reason, beginner traders would like to go with the CTrader platform for trading as it serves a plain and simply user-interface, unlike the MetaTrader 4 trading platform.
MetaTrader 4 widely available in many countries across the world. The platform comes in several languages that make it a priority choice for the traders. CTrader platform is available only in the English language. You have to deal with the English language if you want to use this platform for trading.
CTrader is the most advanced trading platform which is a Ticket based and Position-based. While the MetaTrader 4 is only a ticket-based platform.
A ticket-based platform requires your physical availability as each trader is registered separately. A trader needs to register their positions and close them after successful trading.
While the Position and Ticket-based platform can be closed with just one single click. Traders can have peace of mind while doing online trading with the CTrader platform.
CTrader offers a unique tool that analyzes the market depth to see the liquidity. Traders can see the liquidity of the market at different levels that make the trading more beneficial to them. The same market depth feature is not present on the MetaTrader 4. Traders have to spend more time or use different resources to collect the data for deep analysis of the market.
Custom scripts and automated trading systems are crucial for trading automatically on behalf of the traders. MetaTrader 4 has a huge community of EAs that can set up their multiple trading accounts and can trade on behalf of the traders. The automated trading systems on MetaTrader 4 platform are designed in the MQL4 language. While the CTrader’s automated systems are designed in C# language.
The MT4 platform offers a huge number of custom indicators and EAs which are available for download for free. On the other hand, the CTrader has a limited number of automated systems and there is no straightforward way to achieve them.
Moreover, MetaTrader 4 is highly used by Forex Traders just because of its compatibility with other tools. The MetaTrader 4 platform is compatible with several systems and is ideal for all types of traders. Additional tools and plugins can be installed and used by the traders on Metatrader 4. While there is no such option available on the CTrader platform.
CTrader supports custom background features while there is no such availability on the MetaTrader 4 as it is an older platform and requires new coding to bring such advanced features. CTrader’s custom background feature allows users to customize the background of the software by using the given tools and options.
Being the latest platform, CTrader supports cloud-based technology. The templates, profiles, passwords, and trading reports will be stored and accessed by the users over the cloud. The MetaTrader 4 doesn’t support cloud-based technology that means you have to manage the trading and store its data on a physical drive.
MetaTrader 4’s unique real-time news feature makes it even more popular amongst professional traders. The real-time news feature sends pop-up notifications that let you read the latest news about the industry. CTrader doesn’t offer such a feature. You have to explore the trading-related news from different resources on the web.
CTrader has limited resources in its community compared to the MetaTrader 4 which carries thousands of automated systems and EAs for professional traders. So when it comes to the flexibility and ease of using the platform, MetaTrader 4 is unmatchable. Being the industry leader, the MetaTrader 4 platform offers a huge community with advanced automated systems and EA that can trade automatically.
CTrader is relatively new in the market compared to the MetaTrader 4 platform for forex trading. CTrader offers a range of features that makes it quite suitable for beginners in the online trading industry. Level 2 depth of data of the market, smooth user-interface, and quick execution of trading make it quite suitable for beginners.
While MetaTrader 4’s huge community of automated systems and EAs make it the industry leader. Traders who want to establish an automated trading platform should go with the MetaTrader 4. The number of brokers is also high in MetaTrader 4 platform compared to CTrader. So yes, MetaTrader 4 is undoubtedly the best Forex Trading platform for professional trading business.