As a result of today’s cutting-edge technology, several new trading platforms have been created that allow users to execute transactions and appraise markets, clone portfolios of more seasoned investors, and much more. To become famous, a broker’s platform needs to be easy to use and functional. Comparing the features of CTrader vs. MT4 available on the platforms will help a trader determine which one is most fitted to your requirements.
CTrader vs. MT4: which is better?
It all relies on the requirements of the dealers. MT4 is a better option for automated traders, whereas cTrader has a more user-friendly interface for manual traders. MT4 has a broader selection of brokers than cTrader, which has a more limited selection.
MT4 has the following features: –
- historical and online currency pair data can be accessed quickly and easily
- trading on the internet in a timely manner
- many various hints for placing trades
- a variety of graphing and presentation choices
- differing temporal contexts
- back-testing based on previous results
- languages from around the world
- technical analysis of CTrader vs. MT4 shows MT4 has a wide range of indications and instruments
- utilizing the MQL4 programming language to create or import bespoke systems, alerts, indications, codes, and scripts (Expert Advisor – EA).
cTrader has the following capabilities: –
- Numerous breaks in time
- Point and Tiki charts
- Automatically added to the open slot are the TP and SL.
- One-click trading and the ability to set up pending orders on the chart in a matter of seconds
- With a single click, you can double or reverse the position.
- The ability to set a break-even point for a project
- Automated strategies and custom indicators are supported
- The ability to transfer objects between MT4 and MT5
- Using a server to store platform configurations
- To be capable of setting your time zone
- Converter for MQL-cAlgo.
- cMirror — a service that allows you to imitate other investors’ transactions.
When it comes to analyzing a trading platform, how do these two CTrader vs. MT4 platforms stack up against each other?
Because of how simple it is to utilize, cTrader has gained a lot of popularity among traders. Even while MT4’s popularity is undeniable, cTrader’s user interface and convenience of use may be superior to those of MT4. This, of course, CTrader vs. MT4, depends on the individual dealer. cTrader’s ease of use is likely to appeal to novice traders.
Support for Auto-Trading Functionalities:
New and experienced traders alike can benefit from MT4’s Expert Advisors, which are simple to use, customizable, and effective. This is cAlgo, cTrader’s C#-compatible counterpart. MT4’s auto-trading tools are still primarily regarded as having the best support of any trading platform. MT4 has a much larger online community than cTrader’s auto-trading, making it easier for the user to obtain support for this platform on the internet.
Market Depth Functionality:
As a trader, understanding market depth is critical since it allows them to acquire liquidity and enter transactions at precisely the right price. cTrader has three options for assessing market depth: average depth, price depth, and VWAP depth. MT4, on the other hand, only has one market depth option. cTrader outperforms MT4 when it comes to providing the trader with a clear image of market depth.
Flexibility and Customisation:
There is less room for personalization of indicators in cTrader than in other platforms. If you don’t know any programming languages, you can customize indicators and programs on the MT4 platform without knowing how to write code.