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cTrader or MT4, Which Platform is Better for Forex Trading?

An efficient, stable, reliable trading platform, supportive of algorithmic trading solutions is necessary in today’s Forex trading environment where data flows in microseconds, and algorithms handle 80%+ of daily trading volumes. MetaTrader 4, and its successor MetaTrader 5, and cTrader dominate the market, but which one is the best choice for your trading strategy? Let us compare cTrader vs. MT4 to help you make an informed choice.

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    Forex Trading Platforms Overview 

    We will start our cTrader versus MetaTrader 4 comparison by introducing core features for cTrader vs. MT4.

     
    MT4
    cTrader
    Release Data
    2005
    2011
    Supported Operating Systems
    Windows, Android, Mac, iOS, web-based
    Windows, Android, iOS, web-based
    Programming languages
    MQL4
    C#
    Pricing
    Free via brokers
    Free via brokers
    Timeframes
    9
    26
    Chart types
    3
    8
    Built-in indicators
    30+
    70+
    DoM Types
    1
    3
    Custom indicators, templates, scripts, and EAs
    25,000+
    650+
    Modern user interface
    No
    Yes
    Charting packages
    Yes
    Yes
    Intuitive controls
    No
    Yes
    Sophisticated order entry
    Yes
    Yes
    High level of customization
    Yes
    No
    Compatibility with free trading tools
    Yes
    No
    Beginner friendly
    No
    No
    VPS hosting
    Yes
    Yes
    API trading
    Yes
    Yes
    Mobile apps
    Yes
    Yes
    Algorithmic trading
    Yes
    Yes
    Back-testing software
    Yes
    Yes
    Copy trading
    Yes
    Yes
    MAM/PAMM accounts
    Yes
    Yes
    Scalping
    Yes
    Yes
    Hedging
    Yes
    Yes
    Historical price data
    Yes
    No
    Multi-screen trading
    No
    Yes
    Cloud trading
    No
    Yes
    One-click trading
    Yes
    Yes
    Streaming news
    Yes
    No
    Economic calendar
    Yes
    Yes
    Trading signals
    Yes
    Yes
    Multi-lingual platform
    Yes
    Yes
    CFD trading
    Yes
    Yes
    Cryptocurrency tradingYesYes

    Understanding the cTrader Trading Platform 

    The primary cTrader vs. MT4 edge is its modern user interface. Unlike MetaTrader 4, which supports market makers in addition to ECN, STP, and NDD brokers, cTrader does not cater to market makers.

    Pros and Key Features 

    • Chart types consist of bar, line, candlestick, Heikin-Ashi, HLC, dot, and tick with 27 settings, Renko with 19 settings, and range-based charts with 22 settings.
    • 26 timeframes with the standard chart, plus 50+ timeframes and six zoom levels across all chart types.
    • 33 analytical objects
    • 70+ built-in technical indicators
    • Chart Views for multi-screen trading, allowing traders to detach charts and use them as separate tradable desktop apps.
    • ChartShot for swift screenshots
    • Cloud-based trading software

    Understanding the MT4 Trading Platform 

    The most significant cTrader versus MetaTrader 4 is that the latter is the leading algorithmic trading platform, which dominates the market with its versatility.

    Advantages and Unique Aspects 

    • Versatile trading platform with 25,000+ custom indicators, scripts, templates, and EAs
    • Widespread availability with industry-leading brokers
    • Nine timeframes from M1 to MN1
    • 24 analytical objects
    • 30+ built-in technical indicators
    • Supports 100 open charts with fully customizable templates.
    • Allows advanced algorithmic and AI-assisted trading solutions to connect.
    • Excellent community of traders and developers.
    • Massive trading community for copy traders and signal providers.
    • Traditional account management via MAM/PAMM accounts.

    Comparing cTrader and MT4 on Performance and Usability 

    There is little to no difference when it comes to cTrader vs. MT4 performance, as the broker’s trading infrastructure makes the defining difference. While both trading platforms are highly useable, MT4 is available at 1,400+ brokers and has a tremendous community.

    Charting Tools and Customization in cTrader vs. MT4

    The cTrader vs. MT4 advantage for out-of-the-box charting tools and customization is in favor of cTrader, as it represents the best choice in this category, but the cTrader versus MetaTrader 4 advantage for customizability places MetaTrader 4 second to none, due to its 25,000+ custom indicators, scripts, templates, and EAs, which became MT5 compatible.

    User Interface Comparison between cTrader and MT4 

    One of the core benefits of cTrader versus MetaTrader 4 is the cTrader user interface, featuring a modern design. It also supports multi-screen trading, and navigation is notably improved versus MetaTrader 4, which relies on a clean but dated user interface that performs well.

    Transaction Fees and Costs on cTrader and MT4 

    Transaction fees and costs for cTrader vs. MT4 depend entirely on the broker, but MetaTrader 4 also caters to more expensive market makers using commission-free cost structures. Therefore, the costliest brokers use MT4, but MT4 also caters to the brokers with the lowest trading fees, while cTrader generally works with well-priced brokers.

    Which Platform Offers Better Resources? 

    The out-of-the-box resources are better with cTrader, but MetaTrader 4 has an arsenal of upgradable resources and customization that cTrader cannot match. User-created resources are also better at MetaTrader 4, thanks to the massive community of brokers, developers, and traders.

    Making Your Choice Between cTrader and MT4 

    Making the cTrader vs. MT4 choice depends primarily on trader preferences. Manual traders who seek a cutting-edge out-of-the-box trading solution should consider cTrader. Algorithmic and copy traders and those who require excellent trading platform customization will get an industry-leading choice with MetaTrader 4.

    Final Thoughts 

    MetaTrader 4 and cTrader are powerful trading platforms, and while the user interface in the cTrader versus MetaTrader 4 comparison favored the former, the ultimate cTrader vs. MT4 goes to the latter. cTrader has made massive improvements, but MT4 remains the industry leader.

    FAQs

    Are there any significant differences in the speed and reliability of trade execution between cTrader and MT4?

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    While there are no significant differences in the speed and reliability of trade execution between cTrader vs. MT4, traders must evaluate the trading infrastructure of their brokers, where notable differences exist.

    How do the security features of cTrader compare with those of MT4?

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    MetaTrader 4 and cTrader are highly secure trading platforms and offer 2FA. Traders should consider the security features of their brokers, where issues may arise, and hackers focus their attempts on infiltrating the systems.

    Can traders use custom indicators and scripts on both cTrader and MT4?

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    Both platforms allow custom indicators, scripts, and algorithmic trading, but MT4 has 25,000+ versus 650+ for cTrader.

    Is there a significant difference in transaction costs and fees between cTrader and MT4?

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    The transaction costs for traders depend on the broker, not the trading platform. For brokers, cTrader is significantly more expensive to acquire than MT4.

    How do the mobile trading capabilities of cTrader differ from MT4?

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    cTrader and MT4 offer mobile apps for Android and iOS devices with an almost identical app, but cTrader has a cleaner, more modern user interface, and supports more functions. MT4 ensures traders have all they need for on-the-go trading, wrapped in a dated but clean user interface.

    Which platform offers better customer support and educational resources, cTrader or MT4?

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    MetaQuotes Software, the developer of MetaTrader 4 and MetaTrader 5, and Spotware Systems, the developer of cTrader, provide equally qualitative customer support to brokers. Traders should focus on customer support by brokers, as they will never deal with the developers of the trading platforms. Educational resources for cTrader versus MetaTrader 4 are excellent, but the latter has more quantity given its significantly larger trader base. Beginners will find more than sufficient educational material for both trading platforms.

    Can I trade cryptocurrencies and stocks on both cTrader and MT4?

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    It depends on the broker and not the trading platforms, as MT4 and cTrader support cryptocurrency and stocks trading as derivatives contracts, namely CFDs.

    Is MT4 more suitable for automated trading than cTrader?

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    MetaTrader 4 is the industry-leading algorithmic trading platform with a trading community and algorithmic trading solutions that dwarf the cTrader automated trading environment.

    What are the unique features of cTrader compared to MT4?

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    cTrader features more timeframes, chart types, and market orders, but they have failed to dethrone MT4 as the industry-leading Forex trading platform. While the features are nice, they fail to make a material impact on trading.

    Christopher Lewis
    About Christopher Lewis

    Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.

     

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