MT4, MT5 and cTrader…How do you choose your trading platform?

October 3, 2016

MetaTrader4 & 5 and cTrade, let's see how traders are choosing their platforms.

MT4, MT5 and cTrader…How do you choose your trading platform?

There are hundreds of online Forex brokers in the world though, there is only a handful of major “Trading Platforms”. Why not narrow down the options from the aspect of “Trading Platform”.

This time, we will go into details of each trading platforms and see how investors are using these for different motives.

MetaTrader4 Trading Platform

HotForex MT4 Update deadline notification version

MetaTrader4, or MT4 is the most popular trading platform in the world, and more than 90% of world’s online Forex brokers are offering it along with other trading platforms.

If you see through the list of online Forex brokers, you may not find a broker without MT4.

MT4 is built by MetaQuotes, and its advantages are the stability and many trading tools. Also there are millions of traders using MT4 trading platform, so it is easy to find trading programs for your trading style and troubleshooting in case you have any problems.

As MetaQuotes has been updating the platform for years, you may find all available trading tools and almost impeccable interface.

MetaTrader4 is also the platform for DD brokers

You might wonder if MetaTrader4 is so perfect, why traders need to choose other trading platforms.

There are mainly two reasons, and one of them are the existence of “Virtual Dealer Plugin”. VDR is a type of program that will affect market price and execution quality and etc.

MetaTrader4 has been so popular that now there are thousands of plugins and programs written in MT4’s MQL4 language. Some of them might cause slippages to traders’ orders and some of them might simply control market price for “Stop-Hunting”.

The point is that traders wouldn’t know if their loss was caused by their brokers or it was naturally caused by the largest financial market in the world.

Some Forex brokers even promote fake STP(Straight Through Processing) trading environment while cleverly causing losses in traders’ accounts.

We wouldn’t know what is really happening to traders’ orders until a person from inside exposes his/her brokerage firm’s real business.

However, MT4 is a super popular trading platform on the earth now. If you are not sure which trading platform you may want to use, then why not trade through MetaTrader4 just like other millions traders.

MetaTrader5 Trading Platform

MT5 iPad

MetaTrader5 is another trading platform developed by MetaQutoes, the same company that has programmed the MT4.

Although MetaTrader4 is a really popular trading platform, MT5 had been known as a platform with bugs and less trading tools comparing to it. And until 2015, there weren’t so many Forex brokers offering MT5, but the number of Forex brokers have been increased rapidly recently in 2016.

Now that MetaQuotes is also focusing on updating MetaTrader5 trading platform, there are almost the same trading tools and functions available in both MT5 and MT4.

Not so many online Forex brokers are offering financial services through MT5 though, its new user-interface and trading tools are something you may want to try out once.

MetaTrader5 is available with FBS, FXPro, CentroFX and others several brokers.

cTrader Trading Platform

ctrader-trading-platform-ecn-b-book

cTrader is a new and popular trading platform developed by Spotware.

Its program language(C+) is completely different from MetaTrader’s, and it is surely different from MetaTrader4 and 5.

cTraders’s main advantage is the ECN(Electronics Communication Network), where execution quality is improved by matching traders’ orders each other in the system without any interference or price manipulations, but not just brokers sending orders to its liquidity providers.

With its improved execution speed and quality, Spotware also guarantees that all traders are provided with the fairest trading environment where brokers don’t do some cheating and cause losses against traders.

cTrader accepting B-book style

So there exists several brokerage business styles for example, A-book and B-book.

A-book is a word for 100% STP and ECN Forex brokers where brokers never interfere investors’ trades or manipulate market prices, but only work as a broker like a middleman between Forex markets and investors.

B-book is a word for Market Makers, where the broker acts as a market and counter-order investors’ orders. In this case, the broker isn’t a broker because it is not doing a job as a broker but a market, so it is often called “Market Makers”.

Market Makers are often hated by many traders, because there is a complete conflict of interest between the company and investors.

cTrader accepts both A-book and B-book styles on its trading platform. Meaning that Forex brokers can also hedge trades on cTrader.

But it is only done in brokers’ accounts, and no brokers are able to make changes to displayed market prices or executions, as in Forex brokers are able to counter-order clients’ trades, but they need to do it on they own accounts.

cTrader is investors friendly and also brokers friendly trading platform.


cTrader trading platform is recommended for traders who want the guaranteed Fairest ECN trading environment. cTrader is also visually simple comparing to MetaTraders and it may be easier to use for traders than MT4 and 5.

The Best Trading Platform for yourself

Each trading platform has got different advantages though, your choice can even affect the result of your investment.

If we may summarize how investors are choosing their trading platforms:

MetaTrader4 is for any types of traders who are simply looking for the best investment result, and you may also use MetaTrader5 to see if the new trading platform of MetaQuotes suits you in terms of usability and visually.

cTrader is for traders who wish to trade on a platform where “fairness” is guaranteed.

You can find the full list of Online Forex brokers in the page here.

Hercules