Overview
cTrader and MetaTrader are two popular trading platforms used by millions of people worldwide. They are a go-to choice for both experienced traders and beginners that want to get into trading. On the one hand we have cTrader – a platform packed with charting tools, modernistic design, and in- depth functionalities.
On the other – MetaTrader stands tall as the most popular but somewhat outdated trading platform for retail market participants. However, since September 2022, Apple dealt a heavy blow to MetaTrader as it no longer offers the MetaTrader app on its iOS devices. This guide will help you get familiarized with both platforms so you can make the comparison and decide for yourself which one is better for you and your trading goals. Let’s dive in.
Table Of Contents
- Overview
- Brief History
- Stats Comparison
- cTrader
- MetaTrader 4
- Differences
- Similarities
- Which one is better?
- FAQs on cTrader and MetaTrader Platforms
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Brief History
MetaTrader has two active versions – 4 and 5. MetaTrader 4, or MT4, is a trading software developed in 2005 by MetaQuotes. Strangely, since then, the platform hasn’t been through any major design overhauls or otherwise significant changes that will make it more in tune with the times.
It was created with one goal in mind – to provide easy access to forex and CFDs on stocks. Five years later, the company released a newer version – MetaTrader 5. Design-wise, again, not much different than the original. However, more instruments were added, expanding the array of stocks and currencies available for trading.
The rival trading software, cTrader, was launched in 2011 by Spotware. Similar to MetaTrader 5, it also offered a wide range of stocks, currencies, CFDs, and other instruments readily available for trading. A big difference, however, was cTrader’s design. Immediately upon use, traders would feel the smooth and effortless design was helping them navigate the platform more easily and ultimately be better in their trading.
Stats Comparison
cTrader
- Parent Company: Spotware Systems
- Year Founded: 2011
- Supported Markets: FX and CFDs
- Accessibility: Windows, Mac, Web-Browser, iOS, Android, Tablets
- Programming Languages: C#
MetaTrader 4
- Parent Company: MetaQuotes Software
- Year Founded: 2005
- Supported Markets: FX and CFDs
- Accessibility: Windows, Web-Browser, iOS, Android, Tablets
- Programming Languages: MQL4 & MQL5
Differences
The two platforms differ in several important aspects.
- Depth level – the depth level helps traders get a better view of market liquidity. MetaTrader has just one market depth level, while cTrader offers three options – standard depth, price depth, and VWAP depth.
- Functionalities – cTrader offers a richer set of functionalities, compared to MetaTrader. While MetaTrader has thousands of technical indicators, it lacks variety in other key elements of its trading platform. On this note, cTrader comes armed with technical indicators, richer time frames and chart types. In addition, it offers enhanced order types such as advanced take profit and stop loss orders, market sentiment and other.
- Watchlists – cTrader offers more customizable watchlists that will help you keep track of your favorite currency pairs, stocks, or indices. It also offers email and push notification options.
- Broker types – MetaTrader can be used mainly with ECN brokers, while cTraders allows ECN and STP brokers to integrate its trading software.
- Design – the design of cTrader stands out as more approachable, accessible, and easy to use. It feels modernistic and allows the trader to get more comfortable while operating with the platform’s in-built functions.
- Accessibility – Until September 2022, both cTrader and MetaTrader were available for users across devices. In September 2022, however, Apple decided to stop offering the MetaTrader app to its customers, pushing a wide audience to seek alternatives such as cTrader.
Similarities
- Trading services – both cTrader and MetaTrader offer similar trading services. Both trading platforms are developed to give traders access to multiple financial assets such as stocks, currencies, indices, and commodities through the form of contracts for differences (CFDs).
- Algo trading – both cTrader and MetaTrader offer algorithmic trading through the use of trading bots.
- One-click trading – both cTrader and MetaTrader offer the so-called one-click trading that allows you to open and close trades with just a single click.
Which one is better?
Picking the right trading platform is largely a matter of personal choice. There isn’t really a straightforward answer about whether cTrader or MetaTrader is better. To decide this, you will need to think about what you really need to have in a trading software.
One thing, if you are looking for a more modernistic trading platform with a nice interface and a richer variety of functionalities, you may want to go with cTrader. On the other hand, if you are leaning more into a less-glamorous, old-fashioned trading platform that looks and feels like its stuck in 2004, you may want to go with MetaTrader.
Regardless, both trading platforms will get you where you want to be – trading the world’s markets, watching the charts, and opening and closing trades on currencies, stocks, indices, and commodities.
