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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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 trading | Yes | Yes |
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.
