MetaTrader is the dominant software used by most traders, but it is rivaled by cTrader. The cTrader platform is one that has a level of intuitiveness that a lot of people might prefer over MetaTrader. The best ECN brokers are most useful when you can access what they offer quickly and without any problems.
To understand how this software is so well-regarded, we must first know what cTrader offers.
According to their website and popular opinion, cTrader offers you a clean and intuitive experience that is useful for both pros and newbies; using the cTrader platform for trading will give you the access you need to the Level II market depth.
As we mentioned earlier, the Level II access will show you the full range of executable prices that come straight to you from the liquidity providers. To get a clearer picture of what the cTrader platform gives you, we must look at everything they have in-depth.
The Appeal of cTrader
To compete with some of the other software, cTrader had to bring something new to the table while still staying very useful at all times. From what we can tell, they did this and managed to be the most innovative.
Their revolution is felt in the market because they can allow you the same direct access to demand that other leading software has. You can do high-speed execution and still be able to chart functionality with ease.
Some of the most cited advantages of using this software include;
- They have negative balance protection
- One-click trading options
- Automated trading using cAlgo
- Full STP, DMA and ECN system
- Level II and transparent pricing
- On-chart trading
These are just a few of the things you can enjoy when you use cTrader. There is a lot more that we are going to cover. Hopefully, by the end of this cTrader platform in-depth look, you will be able to decide which of the top software you want.
The Outstanding ECN Trading cTrader Features
We know that your interest here lies in knowing whether or not the platform can offer you the same level of features that you may get from MetaTrader. Well, it can. This is all geared to make sure that all the ECN trading you have to do goes smoothly, and that is why you will find it good software.
- Charting and in-depth analysis
- No requotes
- Full STP, NDD, DMA and ECN system
- Level II and transparent
- Charting and technical analysis
- Options for one-click trading
- No level restriction and stop/limit orders
- Automatic trading using cAlgo
- Tutorial videos that cover everything
- You are allowed to do hedging
- It is a multi-currency platform
- You get negative balance protection
- You get blazing fast execution
- An intuitive graphical interface is available
To understand the things that you get and how they ensure you have the upper hand when doing ECN trading, let us look into some of them with keenness and in-depth analysis.
The Details of The Main Features of the cTrader Platform
These are some of the things that cTrader offers for you to use when doing your ECN trading:
Market Depth (Level II)
When you have the cTrader platform, you will be able to access the level of the market that shows you the executable prices that you get directly from the liquidity providers. The orders you make are filled against the order book.
The system uses a volume-weighted average price or VWAP in short. With the cTrader platform, you will be able to have transparency because all the things are displayed there for you to see at any given time. You will also be given asynchronous spot prices and low latency.
That way, you get the tightest possible spreads.
With these charts, you can use cTrader to measure the number of price ticks. These charts show you several trades before they print the new bar chart. Unlike the time-based charts, tick charts follow the trading activity.
With the cTrader platform, you will be getting integrated trading central to offer the target points for the instruments you select. The targets are shown on a green line in the chart. All you have to do is hover over a target to get the information you need to learn more and make the trade.
cTrader changed the method of how you can buy and sell. The SELL and BUY button are not what you will use when place an order. You will instead have a PLACE ORDER button, which is at the bottom of the window, below the absolute protection, order direction, and set quantity options.
Live Traders Sentiment
This is a tool you will find in the charts and the Market Watch option. They will show you the position versus short positions of other traders who are using cTrader in IC Markets. This tool is useful when you are trying to identify the percentage of the traders in the short and long before you decide to get into the market.
Volume Selection Tooltip
cTrader gives you this tool to help you select the correct volume for the order you want to make. They do this by displaying the pip value, margin, amount you risk, and other pertinent information. With this tooltip, you will quickly get the info you need by hovering over the volume sector.
Margin Call Alerts
The alerts offered by cTrader will be triggered when the account reaches a specified margin level. The settings for what you want to happen here can be found easily by just looking under the email alerts. It is a concise process that will save you a lot of time.
With the email confirmation you get from the cTrader platform, you will be able to prevent any blocking o incoming emails by the system. You will be able to get the alerts that you need for action and other relevant information. This feature is easily accessible from the Email alert feature.
The cTrader Platform Mobile App
The app is available on both android and iOS and is downloadable from the Play Store. You will never have to miss anything ever. You will only be a touch away from the most liquid market in the world. You will also get the tools you need to use the cTrader platform effectively.
The app includes features like;
- Line drawings
- Trend indicators
- Volatility measures
- Technical analysis
Try it today and see if it is the app for you.
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