Best cTrader Brokers

Forex traders are turning to the cTrader platform in rising numbers. The 14-year-old platform is acclaimed for its user-friendly interface, advanced charting tools and automated, algorithmic trading.

While the platform is still growing with a limited number of supporting brokers, the cTrader community is starting to catch on with investors who want to break into the forex market. Here are some of Benzinga’s favorite cTrader forex brokers and what factors set them apart.

Quick Look: Best cTrader Forex Brokers

• Best for Experienced Traders: FxPro
• Best for New Traders: Pepperstone
• Best for Educational Tools: BlackBull Markets
• Best for Day Trading: Skilling
• Best for Pricing: IC Markets

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The brokers were compared and ranked in according to these factors:

• Available currency pairs
• Compared spreads
• Maximum leverage
• Minimum deposit
• Regulatory status
• Educational tools
• Asset class availability
• Customer support

Each cTrader broker has its relative strengths and disadvantages.

Top cTrader Brokers

Brokers who offer cTrader are allowed to customize the platform to their branding. Traders can use it via desktop, web and mobile apps, giving them flexibility in what and when they can trade. The growing cTrader community is fond of the integrated platform and easy interface.

Here’s a summary of a few of the top cTrader brokers.

Best for Experienced Traders: FxPro

FxPro offers many account options and trading methods. Opening an account is easy, deposits and withdrawals are free, and it provides superior customer service. While the FxPro interface is suitable for novice and experienced forex traders, some may resist its high usage fees and a limited number of currency pairs.

Best for New Traders: Pepperstone

Pepperstone offers a broad range of analysis and indicator tools along with quick execution and customization options. It is notable for its depth-of-market function, advanced charting tools and wide range of currency pairs. Some users are concerned with the service’s limited customer service and lack of educational resources.

Best for Educational Tools: BlackBull Markets

BlackBull Markets is a user-friendly platform with low fees, easy account opening and multiple educational resources. It offers reasonable pricing, tight spreads between bid and ask prices and quick transaction execution. Customer support can be tricky during peak trading hours, and some complaints have been lodged about technical issues.

Best for Day Trading: Skilling

Skilling offers excellent customer service and quick registration. Its trading platform is easy to navigate, offering tight bid-ask spreads and a generous number of varied financial instruments. Some traders have reported technical issues, limited educational tools and unpredictable trading costs.

Best for Pricing: IC Markets

IC Markets offers standard and raw spread accounts for extremely reasonable fees, along with free transactions and easy account opening. Trade execution is extremely quick and reasonably priced, and IC Markets’ depth-of-market capabilities are strong. Some traders have reported problems with connectivity and uneven customer support.

What is cTrader?

cTrader is a trading platform for forex and contracts for difference (CFD) trading. It’s acclaimed for its straightforward interface, robust charting tools and support for both manual and algorithmic trading.

Users of cTrader can access their accounts from anywhere. Many forex and CFD brokers use the platform. The app is available on mobile, web and desktop devices. It also offers cTrader Copy, which provides a variety of trading strategies from experienced and successful users.

While cTrader’s roster of forex brokers is smaller than that of other platforms, its community is growing thanks to its diverse chart types, accessible front end and wide range of economic indicators. With its streamlined functionality, cTrader empowers investors to make more informed trade decisions.

Advantages and Disadvantages of cTrader

The cTrader platform is useful in many ways but also has a few limitations users should be aware of.

Advantages of cTrader

• Excellent and broad charting tools
• Automated trading with advanced trading strategies
• Depth of Market view for more educated decisions
• Supports manual and algorithmic trading
• Customizable interface
• Mobile app for iOS and Android devices

Disadvantages of cTrader

• A limited number of brokers offer the platform
• Interface can be difficult to learn
• Access to fewer financial instruments than other platforms
• Lack of certain advanced trading features

Be aware that these advantages and disadvantages may not be significant for some users.

Do You Need a Broker to Use cTrader?

cTrader does not serve as a broker. Instead, it is software that facilitates orders between users and brokers. It can’t complete a forex transaction without parties willing to buy and sell foreign currencies. An outside broker account is needed to use cTrader. 

Does cTrader Support Copy Trading?

The cTrader Copy tool allows users to mirror the transactions of other traders, also known as strategy providers. Investors can review different strategies to find those that correspond to their objectives.

Make sure your broker offers cTrader Copy. A few brokers, even those that use the primary cTrader tool, do not give you the option of using cTrader Copy. 

cTrader vs. MetaTrader

The cTrader platform was launched in 2011 as an alternative to MetaTrader, an established forex trading platform launched in 2005. The primary difference between the two platforms is their customer focus.

cTrader offers a more user-friendly interface that’s easily customizable according to trader needs. MetaTrader caters more to experienced traders with an easily recognizable interface, but some modern traders may find it obsolete.

One advantage of cTrader is its ability to set pending trades while forex trading is closed after business hours or on weekends. cTrader also offers specialized order types, such as Buy or Sell Limits. MetaTrader uses more traditional order placement procedures and doesn’t have some of cTrader’s advanced features.

MetaTrader remains available from most brokerages, while the younger cTrader still isn’t offered by all brokers. Although the extended cTrader community is smaller than MetaTrader’s, it continues to grow thanks to its developers’ supply of resources.

The Best cTrader Brokers: Which Works for You?

The forex trading community rallies around cTrader for its algorithm and automated trading, advanced charting tools, user-friendly interface and after-hours transactions. As more investors gravitate toward the forex and CFD markets, more brokers are expected to adopt cTrader as the platform for the future.

Frequently Asked Questions