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Both MetaTrader 4 and MetaTrader 5 have been removed from the Apple App Store recently, which you can read  about it here. This restriction has caused inconvenience for those who are trading on their iOS devices, myself included.

The impact on my trading is minimal, however, as I have switched and carried out most of my trading activities on cTrader for over a year now. Let me share my experience and thoughts on cTrader as there are a lot of traders searching for alternatives. 

If you’re interested in downloading and testing out cTrader yourself, click here 

cTrader vs MetaTrader

The following sections will be segmented into 3 main aspects so we can make comparisons and highlight the key differences between the two most popular trading platforms.

• Accessibility & Availability
• Functionality
• User Experience

Accessibility & Availability

Considering the recent incident with MetaQuotes, MetaTrader 4 and 5 are already out of the discussion if we wish to trade on our iOS devices. Even if we already have them installed on our iphones, further updates will not be available to us. There are doubts that the apps can perform as efficiently without continuous updates and I personally would not risk my capital without the best infrastructure in place. 

cTrader on the other hand is clear from these restrictions. cTrader Mobile is available on both App Store and Google Play. It can also be downloaded as a Desktop App, or you can access cTrader Web on any device (Trust me it is better than Desktop App). 

To sum this section up, cTrader beats MetaTrader in terms of accessibility and availability. Having a competent mobile app means traders can monitor and manage their trading positions on the go. 

Remember the days when you can monitor and manage your trades on your iPhones? If you wish to continue enjoying this practicality, you either need to get another Android device or switch to cTrader. 

Switch to cTrader

Functionality  

If I had to list out all the powerful features the cTrader platform has over MetaTrader 4 and MetaTrader 5, it would make this article 10 pages long. To save time, I am going to share the key functionalities that I liked about cTrader compared to MT4.

Data and Information

i. Clients’ Sentiment

ii. Trading Central – Analyst View

Clients’ Sentiment 

cTrader allows users to access clients’ sentiment information from the platform itself. It is strategically located right under the Quick Trade Buttons so traders can access the data and make trading decisions swiftly.

Sentiment Analysis has been a huge part of my personal trading and I have shared my notes here. 

MetaTrader does not have a built-in sentiment indicator. However, traders can install third-party plugins to obtain the data. 

Trading Central

Being one of the best technical analysis providers out there, Trading Central equips traders with in-depth market insights and actionable trade signals, helping you to make decisions wiser and faster. 

FXPIG’s clients can access multiple tools from Trading Central for free, including

i. Analyst Views
ii. Economic Insights
iii. Featured Ideas

Click here to open an account with FXPIG and access Trading Central tools for free

My personal favorite has to be Analyst View as it adds confluence to my trade ideas. 

There is a dedicated section for Trading Central Analyst View on the right panel, showing you the analysis for the pair that you are trading. 

Key Information includes but is not limited to:

• Buy or Sell Preference
• Distance till target
• Potential monetary gains
• Direct Buy or Sell Button
• One click TP and SL setting
• Support and Resistance levels
• Trade explanations

Trading Central is available on both cTrader and MetaTrader. However, on cTrader, it is cleverly integrated into the platform to make your trading hassle-free, while you need to install a separate file for MetaTrader to access Trading Central.

Sign Up Now to get access to our Full Trading Central Tools.

User Experience

cTID

cTID was love at first sight for me. With a single login credential, we can link multiple cTrader accounts to the same ID. This allows traders to trade with one or multiple brokers and still use the same cTID, making account management easier than ever. 

Customised Watchlists

Traders are free to create numerous watchlists across 7 asset classes that FXPIG offers. This feature is especially useful for those who trade multiple strategies. I have created dedicated watchlists for London and New York sessions so I could focus only on the pairs that I trade during that time (See Image below)

That is not all. We can also view our Watchlists in “Tile mode”. It is visual and provides more quick functions such as client sentiment and one-click trading. 

We do not get this feature on MetaTrader. On MT4, you can only show and hide instruments in the Market Watch panel which makes it a hassle as we only get a single watchlist on MT4.

User Interface

The User Interface was the first thing I evaluated when I decided to start trading with cTrader. As it is a newer platform, the user interface is sleek and modern-looking, with useful shortcuts and functions at strategic locations. 

The overall structure is split into three main sections. On the left, you can switch between Trading, Copying strategies, Creating automated trading, and Analyse your trading accounts easily. 

In the middle, you will find your charts with full charting capabilities, including tools that are not available natively on MetaTrader such as Dots chart, tick timeframe, and VWAP. At the bottom, there is the Trading Terminal where we can manage our trading positions and get an overview of our account status.

Finally, we can find various intuitive blocks on the right. Placing orders, Trading Central, Symbol information, DOM, and many more are segmented in a clean manner. We can also hide the blocks that are not in use. 

To protect your eyes, you can also switch between light and dark modes. Full customizations are available for your charts and templates. You can finally trade your way. 

Compared to MetaTrader 4, the cTrader interface is miles better. It gives you a 21st-century vibe compared to Windows 95-styled MT4. You just need to invest a few days to learn and adapt to cTrader and you can then utilize it for the rest of your trading journey.

Performance Analysis

cTrader allows us to track our trading performance without connecting to any third-party platform. With its built-in Analyze function, traders can easily get detailed metrics on their trading history. 

Statistics include but are not limited to:

• Win/Loss comparison
• Profit factor
• Equity Curve
• Volume traded per symbol
• Max balance drawdown
• Sharpe Ratio

This is by far the best tracking system that I have encountered. I get to reflect on my past trades, figure out what worked and focus on fixing my mistakes. This is severely underrated and I hope more traders can enjoy this feature.

More Ways to Earn: cTrader Copy

Wow! There are so many useful functionalities being built right into the cTrader Platform, even Copy Trading!

For those that are unfamiliar with Copy Trading, it is a simple way for traders to copy the trades of another trader. We can copy profitable strategies from an extensive list of strategies made available by the best traders worldwide.

A portion of the profits made, also known as the Performance fees will be paid to the Strategy Provider as an incentive for them to keep up their excellent performance, thus creating a win-win situation for everyone.

Another good news is – Anyone can be a Strategy Provider on cTrader as long as they have a cTrader account. This is a great way for you to elevate your trading career while generating additional revenue. 

Check out the Strategy Provider guide here >  How to be a Strategy Provider on cTrader Copy

Want to copy a strategy? Read this > How to Copy a Strategy on cTrader Copy

For the Advanced Traders

Seasoned traders demand the best trading conditions such as..

Execution speed and latency

cTrader is a newer platform and is built on the programming language C#, one of the most sought-after languages as of late. Try googling the best programming language to learn in 2022 and you will see C# on the list consistently. It is highly versatile and fairly easy to learn.

With lower latency, the execution speed on cTrader is comparatively faster compared to MT4. Do note that latency can depend on multiple factors including your physical location, devices, type of internet connection, etc. 

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FIX API

Traders employing High-Frequency Trading (HFT) may require FIX API. FXPIG’s cTrader caters to that and provides FIX API Connections for our clients. Traders can simply go to Settings and obtain the credentials, or just come on our Live Chat and we will assist you. 

Conclusion

All in all, cTrader is hands down the best trading platform I have used with zero complaints. It is evident that cTrader put traders as their core focus. We can see the effort that the cTrader team is putting into their platform as they roll out updates after update consistently and the latest 4.4 version will be made available shortly.

Currently, there are only a handful of brokers offering cTrader but traders at FXPIG have been embracing the power of cTrader for the past 7 years.  What are you waiting for?

Make The Switch.

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Need a fast fix for Apple’s App Store ban on MT4 and MT5? Click here to learn more about FXPIG’s cTrader specifications and download the cTrader mobile app.

What Happened?

The MetaTrader 4 has been the iconic retail online trading platform for the past 17 years. However, both MetaTrader 4 and MetaTrader 5 have been removed from the tech giant Apple’s app store on the 24th of September, 2022, a shocking turn of events for the retail trading community. 

Speculations               

The major reason for this ban could be due to the rising number of scams perpetrated by dodgy brokers with users filing complaints to Apple. The final nail in the coffin was most probably the recent article Forbes published on how one victim got scammed for more than a million dollars due to a manipulated MetaTrader. There was also wild speculation that this was directed towards the Russian-owned company MetaQuotes due to the ongoing sanction against Russia. 

The Impact

The app removal will affect the majority of retail traders since most of us use mobile trading. New users with Apple devices are not able to download the app anymore while those who already have the app will no longer be receiving updates. Without future updates, there are concerns that the current app may not be stable enough to support trading activities for years to come.  

Moving Forward

Considering the current situation, this is the prime opportunity for MetaQuotes’ rivals to compete for more market share. There are plenty of online trading platforms in the market but in our opinion,  cTrader may very well be in the best position to expand its user base due to a variety of reasons.

cTrader

cTrader has always been a well-known platform, although it didn’t shine as bright when MetaTrader 4 and 5 was garnering most of the attention from both retail brokers and traders. Now that they are both being restricted in the Apple ecosystem, they should take a bold stride and go all in, exploiting the opportunity that it has now.

And it seems like that is exactly what they are doing now with the latest release of version 4.4 that comes packed with practical features, extending on their current unique advantages that other platforms don’t have!

FXPIG’s Solution

Android – Google Play Store

Our clients can still download mobile MetaTrader 4 and MetaTrader 5 from Google Play Store on their Android devices.

Windows App

MetaTrader 4 and MetaTrader 5 are available to download for Windows PC.

cTrader

FXPIG has been offering cTrader for well over 7 years now as we are one of the first few brokers who spearheaded cTrader adoption in the retail trading community. We believed in their user-oriented technology and distinct features that address the weaknesses of MetaTrader and other trading platforms. 

FXPIG cTrader is available on:

• cTrader iOS
• cTrader Android
• cTrader Web (Windows, MacOS)
• cTrader Desktop  (Windows)

Sign up Now at FXPIG

Experience frictionless trading with cTrader. Raw spreads start from 0 pips on more than 300 instruments, with commissions as low as $2 per lot per side.  24/7 Crypto trading is available too.

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