cTrader Forex Brokers

cTrader Forex Brokers

cTrader forex brokers refer to forex brokers that make use of the cTrader platform. The cTrader is a trading platform used for ECN-style trading, in which traders can place orders and get these orders sent directly to the liquidity providers, usually have an option to choose from several prices as provided by these liquidity providers. The order and execution process completely bypasses the dealing desk department of the forex broker providing the service.

 

Best cTrader Forex Brokers 2017:

There aren’t many cTrader forex brokers out there, mostly because the platform itself is relatively new and traders are still finding it hard to make the adjustment to the new cTrader, with other better known ECN platforms having dominated the market for some time. However, we have drawn up a comparison table so that you can discover what cTrader forex brokers can give you access to this platform in case you decide to make use of it in your future trading activities.

Broker Info Bonus US Traders Open Account
ThinkForex Spread: 0.2 - 1.5 Pups
Leverage: 500:1
Minimum Deposit: $250
Demo Account: No
10% Ongoing bonus Visit BrokerRead Review

 

What is cTrader?

cTrader is a relatively new trading platform used for ECN-style trading. This trading style is also known as direct market access (DMA) trading, and also called STP because it uses a straight through processing (STP) style of execution of trade orders. The cTrader software itself was designed and created by Spotware Systems Ltd.

ctrader

cTrader forex brokers would provide their clients with several versions of the platform. There is a web-based version which allows traders to login with a username and password after accessing the trading station via a URL. There is also a mobile version of the platform that works on the commonly used smartphones and tablet devices. cTrader forex brokers would also provide their traders with cAlgo, which is the platform that traders and programmers can use to code expert advisors, algorithms and indicators to integrate with the cTrader platform.

For each version in use, a demo trading platform is also available so traders can get to know how the platform looks like and how it works.

ctrader forex

The cTrader and cAlgo platforms are inherently linked, so if you use cTrader forex brokers, you would expect to see the cTrader tabs on the cAlgo interface, and vice versa. The tab placements make it easy to switch from one to the other (see tabs at the top of the snapshot above).

When using cTrader forex brokers, there are certain things traders should expect.

a)    There are changes to the user interface. For instance, you will notice that the periodicity of the platforms has been increased. Unlike conventional platforms that have only 6 or 7 time frames, the cTrader forex brokers have more time frames on their platforms. Now you can see what a currency pair is doing on an 8 hour time frame, or a 12 hour time frame.

b)    Most cTrader forex brokers will peg their minimum account opening size at $1,000.

c)     cTrader forex brokers are basically offering you an ECN-style trading system when they give you the cTrader platform. Expect to pay commissions on each trade on the buy and sell side. This is usually about $3 per standard lot traded, both for opening and closing the order.

d)    You will also have access to more indicators, although from my experience, indicators are harder to attach and remove from charts.

e)    There is also an option to turn on, or turn off the one-click execution mode.

f)     As with all ECN platforms, you get to be presented with a market depth window. With this window, you can see who is buying or selling what, as well as the exact volumes on bid and ask at any point in time.

g)    With cTrader forex brokers, there are no restrictions in respect of stop and limit orders placement. Scalping is also allowed, as the cTrader forex brokers are not market makers who get burned by such activity.

Ready to start trading? you may want to read our Forex Signals Reviews.

Adam

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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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