4 Best cTrader Brokers in the UK for 2024

cTrader Features

A little-known fact: 35% more cTrader users are successful compared to the industry average. This surprising statistic comes from Spotware’s internal calculations and highlights why cTrader has become MetaTrader’s main competitor. But what is it about cTrader that makes traders more profitable?

• No price manipulation: Unlike MetaTrader and most other broker-owned platforms, cTrader does not allow broker manipulation of the price feed. This means it will only connect traders directly to the global Forex market and not allow dealing desk intervention.
• No broker intervention: Spotware manages all the infrastructure behind cTrader, and the interface you download from your broker is just that — an interface. The broker can alter commission and spreads, but the price feed and market data cannot be modified.
• Single Login: Because Spotware manages cTrader’s infrastructure, the cTrader ID you receive when you first log in to the application will never change. This is especially useful as you won’t have to remember new passwords or account numbers, even if you switch brokers.
• Spotware is invested in your success. cTrader is also offered to brokers on a platform-as-a-service basis, and brokers pay Spotware based on the volume traded. This means that the more traders succeed with cTrader, the more Spotware profits. The result is that Spotware has a real incentive to provide traders with the best chance to trade profitably.

These differences are all enshrined in Spotware’s founding motto: Trader’s First. This guiding mindset has led Spotware not only to ensure that cTrader is an intervention-free platform but also forced them to make transparency and community focus an integral part of cTrader’s business model.

It’s important to note that because most cTrader brokers provide raw spreads, users may have to pay a commission on their trades.

cTrader Platforms

cTrader offers three versions of its trading platform, and while the same indicators, objects, layouts and themes are present across all three versions, there are minor changes to functionality:

cTrader Desktop: The desktop version is the most feature-complete version of cTrader and is available for Windows and Mac.

cTrader Web: The cTrader Web version is almost as feature-complete as the desktop version except for a few changes. Charts are locked, so they cannot move up and down, and cTrader Automate is unavailable.

cTrader Mobile: Available on iOS and Android, the cTrader mobile app is perfect for traders on the go and has 26 timeframes and over 50 indicators available. Charts have been redesigned for mobile with features like pinch-to-zoom, fling to scroll forward or backward, and double-tap to re-centre.

cTrader Forum

The cTrader forum is a place for all cTrader users to post suggestions to the developers for new platform features, get support from the community, and stay on top of product announcements and other news. Spotware continuously improves cTrader with enhancements, mostly based on community feedback; this regular interaction with traders results in several platform updates and upgrades a year.

cTrader ID Site

The cTrader ID Site is a personalised toolbox for anyone holding a cTrader ID. It provides traders several tools to control their accounts and connect to other traders, apps, and resources.

Standout features include:

• Credential management: traders can view a list of demo and live trading accounts they own with each broker under the same cTrader ID.
• Push Notifications: Traders can alter email and mobile push notifications regarding changes and events on their trading accounts.
• Security: Allows traders to view and revoke active sessions and control which devices are authorised to use cTrader.

How is cTrader different from MT4 and MT5?

Unlike MT4 and MT5, cTrader started life as an ECN (Electronic Communication Network) platform. This means that it connected traders directly to the global Forex market and didn’t allow for any dealing desk intervention, whether automated or not. While cTrader can now be used by market makers, all the infrastructure behind cTrader is still managed by Spotware themselves, and the interface you download from your broker is just that, an interface. The broker can alter commission and spreads, but the price feed and market data cannot be modified or manipulated. Many cTrader brokers will not charge a fee in the spread and will charge a commission instead for their service.

Because Spotware manages cTrader’s infrastructure, the cTrader ID you receive when you first log in to the application will never change. This is especially useful because you won’t have to remember new passwords or account numbers, even if you change brokers.

cTrader is also offered to brokers on a platform-as-a-service basis, and brokers pay Spotware based on the volume traded. This means the more traders succeed with cTrader, the more Spotware profits. The result is that Spotware has a real incentive to provide traders with the best chance to trade profitably.

What are the advantages of using cTrader over MT4?

Advocates of cTrader will tell you that it is more beginner-friendly than MT4 and offers high-speed execution with a cleaner user interface. Those who have used both platforms will probably agree with this statement, but in the interest of balance, here are some of the main advantages and disadvantages:

• Your platform needn’t be open and connected to your broker to keep a trailing stop loss functioning like with MT4.
• The ‘Depth of Market’ function is easier to use (it is colour-coded and has different profiles available) than MT4’s.
• cTrader has several features that make the platform more user-friendly than MT4. For example, on the right side, the chart there is a distance scale in pips (e.g. 50 pips). This is useful for beginners because it gives them an idea of what 50 pips looks like without having to use the crosshair tool to take measurements.
• cTrader’s data sets (for backtesting trading robots) are more complete than MT4’s and support real tick data backtesting. MT4 often doesn’t have real tick data available.
• cTrader’s crosshair tool measures pips while MT4 measures points. This makes it easier to make measurements, especially for a beginner. If you measure 50 pips with cTrader, you see 50. If you measure with MT4, you see 500.
• cTrader has a built-in copy trading feature.
• cTrader has a FIX API, and its coding language is more versatile than MQL4. The FIX API allows for total portfolio management with a trading bot. For example, a trader could perform cross-instrument trading with a statistical arbitrage robot. This type of trading is not possible with MT4 because each EA only performs calculations on one chart window at a time.

What are the disadvantages of using cTrader compared to MT4?

• The minimum lot sizing on some stock index CFDs (e.g. GER30) are inconsistent with forex pairs and some other stock indices.
• Frequent updates can cause delays when you open the platform; this can be a problem if you need to manage a position urgently from your desktop.
• The MT4 community is much larger than that of cTrader. On the MT4 platform, you can access thousands of EAs, and online forums have much more information.

Should I choose cTrader?

cTrader is a welcome alternative for traders who want a cross-broker trading platform with a reputation for transparency, rapid product development and high-speed trade execution. With clear improvements in trade management and visual aesthetics compared to MetaTrader 4, traders who trade with cTrader tend to stick with the choice.

Because cTrader is controlled so tightly by its creators, it will never be an industry standard, but it is a great platform choice for those unafraid to pay commission on trades.