In trade, one of your top priorities has to be working with a good trading platform simply because this is where you’ll be spending most of your time when trading, whatever they offer is the only thing you have to receive–from choices of markets, assets, tools, trading features and so on solely depends on the platform you choose.
So before trading, make sure to do your homework and scout for good trading platforms around–one that offers great features, quality tools, good client support, learning material, reasonable fees and one that suits your trading style and needs.
Although, two platforms have been receiving tons of praise these past couple of years and it’s the cTrader and MetaTrader 5. These are trading platforms that both offer great features and are regarded to be one of the best in the game of multi-asset trading platforms.
To help you make up your mind and know which of the two is best for your trading needs and habits, below is a rundown of each one:
cTrader Trading Platform
This trading platform was designed, developed and powered by Spotware and is also available and supported by other brokerages. cTrader is an award-winning ECN – STP trading platform and is quite popular in Forex and CFD trading.
This platform is overflowing with outstanding features that are suited for all sorts of traders. Plus its interface is also user-friendly so no matter if you’re a novice trader or a tenured investor this is a platform you can consider.
Some of its top features are its advanced rapid execution, level II pricing, a wide selection of order types, advanced charting, excellent trading tools and features and a smart stop-out. All of these combined elevates any trader’s trading experience!
For beginners who’d like to try cTrader out, they offer a demo account you can choose to sign up for during the registration process. You can create an account with cTrader directly or through brokerages that support cTrader–an example of a broker is FP Markets.
cTrader has system requirements to consider. For its desktop variant, it’s Windows 7 or higher, Mac OSX or Linux. And for its mobile variant, it’s either Android or iOS. You can get its desktop variant directly from cTrader or its supporting brokers. For its mobile app, you can avail it in either Google Play Store or the App Store.
What are cTrader’s features?
To give you an idea of what to expect, we listed down all the quality features you can enjoy when trading with cTrader:
- Offers advanced charting: Candlestick, HLC, Bars, Lines, Dots, Heikin, Renko and Tick.
- Has an economic calendar great for scalpers and day traders!
- Has level II pricing.
- Offers momentum indicators.
- Has trend-based and volume indicators.
- Has volatility gauges.
- Offers an efficient toolbar to access trading tools easier.
- Allows traders to draw on selected charts with the use of drawing tools.
- Allows you to access DoM/Depth of Market (Standard DoM, Price DoM and VWAP DoM)
- Offers ChartShorts with 50 templates (you can share on social media)
- Offers Multi-Chart Mode (Compatible with slip screens)
- Offers a wide variety of timeframes.
- Has trend-based and volume indicators.
- Allows traders to custom indicators through the use of cTrader Automate.
MetaTrader 5 Trading Platform
This trading platform emerged in the scene back in 2010 and is a newer variant of MetaTrader 4. This platform was released and developed by MetaQuotes, which is considered to be the legend of platforms since this is one of the oldest ones in the game.
Every month over 7,000,000 visitors visit their site where they’ll be able to get to know the platform better from their FAQs, MQL4 and MQL5 languages, indicators, and robots to strategy testing and trading in general. So it’s safe to say, they have one of the largest communities around.
They’re also pretty credible and reputable around the globe–you’ll be able to find tons of reviews, articles and even sites that talk about these platforms such as Finance Magnates, Yahoo Finance and more. They also won various awards such as Best Multi-Asset Trading Platform back in 2020 and 2021.
MetaTrader 5 has system requirements to consider too. For its desktop variant, it’s Windows 7 or higher, Mac OSX or Linux. And for its mobile variant, it’s either Android or iOS. You can get its desktop variant directly from MetaTrader 5’s website or its supporting brokers. For its mobile app, you can avail it in either Google Play Store, the App Store or AppGallery.
What are MetaTrader 5’s features?
To know if this platform is for you, you should know what features it has to offer. To give you an idea of what to expect with MetaTrader 5, listed below are its quality features:
- Has an activity dashboard.
- Has alerts and notifications that notify traders about their positions and so on.
- Has branch optimization.
- Offers data import and export.
- Has data visualization.
- Has financial analysis.
- Allows traders to view and have a record of their transaction history.
- Offers transaction monitoring.
- Offers secure data storage.
- Has real-time reporting and data.
- Offers performance management.
- Has investor reporting.
- Has third-party integrations.
Take away
Now you know a good sum on both platforms, you can now make a more accurate decision when picking out which one suits you best. Consider looking into their provided features, available assets and markets and so on to know which platform is perfect for your trading strategy and trading needs.
