cTrader for Forex Traders | Top Pros and Cons

Key tools and platforms

cTrader is a charting and manual trading platform designed for Forex and CFD traders. Here are the top tools and features of the platform.

cTrader copy

cTrader Copy allows traders to become Strategy Providers. They can broadcast their trading strategies for a commission or fee, opening the door to a new world of commitment-free investing. Additionally, traders can exercise control over their risk management settings while searching for and replicating strategies offered by others.

cTrader automate

cTrader Automate presents a comprehensive and user-friendly solution for traders looking to automate their strategies. This feature allows traders to develop algorithmic trading robots with ease. Leveraging the modern C# API, traders can seamlessly write and test code within the integrated development environment. It offers the capability to optimize custom indicators and robots effectively.

Open API for custom applications

cTrader offers an open API, a secure and publicly accessible interface, inviting developers to create their web, mobile, or desktop applications. This API provides developers with access to cTrader's established technologies, enabling them to connect to and trade with any cTrader account. Read also information about best brokers with API trading.

Favorites and Depth of Market enhance trading

Traders on cTrader can personalize their trading experience by setting up their favorite underlying assets. This feature ensures quick access to preferred assets and real-time price information. Further, cTrader's depth of market tools equips traders with a good understanding of market dynamics, offering benefits such as enhanced decision-making through comprehensive market insights and trend analysis.

Robust encryption for security

cTrader prioritizes security through robust encryption protocols, including secure socket layer (SSL) encryption. This technology safeguards user data and communication, ensuring that sensitive information like login credentials and financial data remains secure and protected from unauthorized access or interception.

Charting

cTrader provides advanced charting capabilities that enable traders to conduct in-depth market analysis and make informed trading decisions.

Variety of chart types

cTrader platform

cTrader offers a wide range of chart types to cater to various trading preferences and analysis needs. Some of the commonly used chart types include:

• Candlestick charts - These provide a visual representation of price movements and are widely used for technical analysis

• Line charts - Simplistic charts that display the closing prices over time, useful for tracking trends

• Bar charts - Display price data in the form of vertical bars, showing the open, close, high, and low prices for a specified period

• Renko charts - Based solely on price movement, Renko charts filter out noise and focus on significant price changes

• Heikin Ashi charts - Smooth out price fluctuations, making it easier to identify trends and reversals

Extensive technical indicators

cTrader platform

cTrader offers a comprehensive library of technical indicators that traders can apply to their charts. These indicators help traders analyze price movements, identify trends, and make informed trading decisions. Examples of technical indicators include moving averages, relative strength index (RSI), MACD (Moving Average Convergence Divergence), Bollinger Bands, and more.

Flexible timeframes

cTrader platform

Traders can select from a wide range of timeframes to view price data, ranging from tick charts for very short-term analysis to daily, weekly, or even custom timeframes. This flexibility allows traders to adapt their charts to different trading strategies and time horizons.

Advanced drawing tools

cTrader platform

cTrader provides a suite of advanced drawing tools that enable traders to mark up their charts with trendlines, support and resistance levels, Fibonacci retracements, and other custom annotations. These tools are invaluable for technical analysis and strategy development.

Efficient chart templates

cTrader platform

Chart templates in cTrader allow traders to save and apply their preferred chart setups, indicators, and drawing tools with ease. This feature saves time and ensures consistency in analysis across different trading sessions and instruments.

Analytics

cTrader offers a variety of analytical tools and features for traders.

Comprehensive trade analytics

cTrader provides traders with essential trade metrics, including profit/loss, win rate, and average trade duration, for evaluating trading performance.

Customizable visual dashboards

The platform offers customizable trade dashboards and charts to visualize trading data, aiding in pattern recognition and data-driven decision-making.

Effective risk management

cTrader's analytics cover risk management metrics like maximum drawdown, risk-reward ratio, and position sizing, facilitating informed risk management.

Detailed trade history logs

cTrader maintains comprehensive trade history logs, allowing traders to analyze past trades, track performance, and identify recurring patterns or errors.

Real-time market sentiment

The platform provides real-time trade sentiment indicators, offering insights into market sentiment based on fellow traders' positions, aiding in more informed trading decisions.

cTrader indicators

In the world of trading, access to the right indicators can make all the difference. On similar lines, cTrader caters to traders' needs with a selection of useful indicators, each designed to enhance your trading insights.

Hull MA Indicator

cTrader platform

Allan Hull's Hull Moving Average (HMA) indicator in cTrader is renowned for its speed and smoothness, offering minimal lag and enhanced smoothing for both intraday and long-term moving averages.

Larry Williams Indicator Package

cTrader platform

This package includes indicators created by legendary trader Larry Williams, such as the Williams Ultimate Oscillator, Advance/Decline Line, Cycle Identifier, and VIX FIX, providing valuable tools for traders.

Candlestick Patterns - Doji

cTrader platform

The Doji candlestick pattern indicator in cTrader helps traders identify market reversal signals, ensuring they don't miss critical turning points for well-informed trading decisions.

Correlation Indicator

cTrader platform

cTrader's correlation indicator allows traders to compare two instruments and assess their historical and current correlation, aiding in effective risk management and loss prevention.

Forex Heat Map Panel

cTrader platform

This unique panel in cTrader monitors 9 currencies, revealing their relative strength and weakness, helping traders identify strong or weak currencies and potential reversals.

Can I install indicators in cTrader mobile?

Yes, you can install indicators in cTrader mobile.

Can I add new indicators to cTrader?

Yes, you can add new indicators to cTrader.

How do I set indicators on cTrader?

To set indicators on cTrader, simply click on the 'Indicators' icon located in the top-most control row. From the newly opened section, select the indicator you'd like to add. Depending on the indicator settings, its output will either overlay on the chart or display in a separate section. After adding an indicator, cTrader will display a new toolbar, either on the trading chart or below it, with three icons showing the indicator name, parameter values, and the indicator output. Additionally, you can create custom indicators and add them directly to the trading chart.

How to trade on cTrader?

Here's a step-by-step guide to getting started with cTrader:

1 Select a reputable broker

Begin by choosing a broker that offers cTrader as a trading tool. Ensure the broker is not only legitimate but also regulated for added security. Once you've made your choice, proceed to sign up for a trading account.

2 Register your trading account

Registering a trading account is a straightforward process and completely hassle-free. Provide your basic details such as name and email to initiate your journey.

3 Opt for demo or live account

Upon signing up, you'll have the option to choose between a demo account and a live account for cTrader. The demo account is an excellent opportunity to explore the platform's functionalities without financial risk. Note that the duration of free demo access may vary among brokers, typically ranging from 30 to 60 days.

4 Dive into cTrader

With your live trading account on cTrader, you're ready to start on your trading journey. Ensure your account is funded with the required amount specified by your broker. You can also explore an alternative method by downloading cTrader directly from its official website.

5 Download and install cTrader

To download cTrader, visit the official website and locate the “download cTrader” option. Follow the installation instructions.

6 Log in and trade

Once installation is complete, log in using your credentials if you're registered with a broker supporting cTrader. It's worth noting that cTrader is accessible on mobile devices as well, with downloadable versions available on the App Store and Google Play Store.

Before downloading cTrader, ensure your device meets the platform's compatibility requirements. For desktop use, ensure your PC runs on Windows 7 or later.

cTrader bots

cTrader provides a diverse array of algorithmic trading options, making it a go-to choice for traders seeking automation. The key highlights of this feature include:

• cTrader automate: This comprehensive solution empowers traders to create and deploy custom trading indicators and cBots, which are autonomous computer programs that execute and manage trading operations within the cTrader desktop platform

• Custom indicators: Traders can harness custom indicators to perform calculations on cTrader charts, utilizing various data inputs like price data, chart drawings, and account properties. This flexibility allows for precise analysis and strategy execution

• Community engagement: cTrader fosters a vibrant community where traders can download, share, and discuss Forex robot and indicator algorithms. The cTrader forum serves as a hub for asking questions, sharing ideas, and collaborating with fellow traders

• cTrader Automate API: Specifically designed for margin trading, this API employs a user-friendly format that engages both users and developers. Its extensive functionality covers a wide range of trading aspects in the Forex and CFD markets

• Educational resources: cTrader offers educational materials for traders new to algorithmic trading. These resources include video tutorials and a comprehensive video library covering various aspects of using cTrader Automate

• Expert Advisors (EAs): Within the cAlgo platform, traders can construct Expert Advisors (EAs). These automated trading robots diligently monitor market data and execute trades based on predefined rules, eliminating the potential for human error and ensuring precise and rapid order placement

Can I install new bots in cTrader?

Absolutely, you have the freedom to install new bots in cTrader. The platform provides a user-friendly environment for traders to explore the exciting realm of automated trading. You can access and download Forex robot and indicator algorithms from the cTrader community, all at no cost.

Are bots free or paid in cTrader?

In cTrader, bots come in both free and paid categories, catering to the diverse preferences of traders. The cTrader community offers a variety of Forex robot and indicator algorithms that you can freely download and use.

cTrader copy trading

cTrader serves as a hub for traders to connect, share insights, and exchange ideas. Its community offers opportunities for traders to engage in discussions and gain market knowledge. Here, traders can connect with peers, learn from experienced individuals, and stay informed about market trends.

cTrader provides a copy trading feature, enabling traders to replicate the trades of experienced counterparts. This social trading functionality facilitates learning from experts and potentially benefiting from their strategies. Traders can access a list of top performers, analyze their trading methods, and choose to automate the replication of their trades. This feature promotes knowledge transfer and potential profitability.

Beyond copy trading, cTrader allows trade following and information sharing within its community. Traders can share trade ideas, market analysis, and insights. This collaborative environment encourages discussions about trading opportunities, strategy validation, and diverse viewpoints. Traders can monitor others' trades, provide commentary, and engage in constructive discussions, enhancing their learning and trading capabilities.

Is cTrader free?

Using cTrader as a trading platform doesn't come with a direct cost to the trader. Instead, it's the broker you choose that provides access to cTrader. Therefore, the fees associated with cTrader are typically covered by the broker.

In addition to this arrangement, traders need to be aware of the commissions charged by the cTrader broker. The platform offers competitive spreads, starting as low as 0.2 pips on major currency pairs. Commissions, however, come into play at $3.50 per lot of the base currency for each trade, applied upon both entry and exit.

Is cTrader good for beginners?

According to TU’s team of experts, cTrader can be a good platform for beginners venturing into the world of Forex trading. Its user-friendly interface and intuitive design make it easy for newcomers to navigate and understand. The platform offers a demo account, allowing beginners to practice trading without risking real money. Furthermore, cTrader's trader community provides a supportive environment where beginners can seek advice, learn from experienced traders, and gain valuable insights into Forex trading.

Customer support

cTrader places a strong emphasis on customer support, offering various avenues for assistance. Users can turn to the cTrader Help Center, a comprehensive resource brimming with answers to common questions, tutorials, and usage guides. Additionally, the cTrader Forum serves as a community hub for discussions on platform-related topics, from indicators to automated trading strategies. Direct contact with Spotware Systems Ltd, the company behind cTrader, is possible for sales and marketing inquiries, with contact details available on the Contact Us page. To ensure users receive prompt assistance, cTrader provides 24/5 support through email-based ticketing and phone support during trading hours. These support options underscore cTrader's commitment to aiding users and enhancing their trading experiences.

Best cTrader brokers

FTMO

FTMO Review

Open an account

Your capital is at risk.

FTMO is an international proprietary trading company created in the Czech Republic in 2014. The platform brings traders into its fold and after traders successfully pass a two-step testing regime, FTMO transfers 400 thousand dollars to the trader’s account. Transactions are monitored by FTMO to grow the deposit. There is a payment of 80% at the first stage of real trading. The 90% Profit Split is available only to those FTMO Traders that have reached Scaling Plan. The company works in full accordance with European financial legislation and is under the local regulator.

FxPro

FxPro Review

Open an account

Your capital is at risk.

The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.