cTrader: Shaking Up The Forex Trading Platform Space
cTrader is one of three Forex trading platforms offered by ThinkForex and is one of the biggest competitors to the Metatrader 4 and Metatrader 5 platforms created by MetaQuotes. cTrader is created by Spotware systems, a financial technology company that designs and develops software and trading platforms for web based Forex trading, CFD brokers and financial institutions. Spotware’s main focus is on creating ECN integrated Forex platforms that allow its software to communicate directly with other financial systems.
cTrader Product Overview
As just mentioned, cTrader is a Forex trading platform mainly while other financial instruments such as CFDs can also be traded using the software. cTrader’s main point of comparison is that they offer cloud based technology that offers clients with direct currency market access. In 2013 cTrader was awarded the FX Week “Best Retail Platform of The Year 2013.” cTrader also has a sister trading platform called cAlgo that affords traders the ability to develop their own automated or algorithmic indicators.
cTrader and ThinkForex
Like Pepperstone, ThinkForex offer the cTrader forex broker platform as well as the more mainstream Metatrader; we established this in our ThinkForex review.
According to the company, they offer the cTrader programs for traders who like more precision and control. The beauty of cTrader with ThinkForex is that the interface is instinctive and allows clients to tailor the workspace to their needs. Furthermore, the platform enables the fast settlement of orders and gives users the ability to move quickly in and out of positions at the click of a button. Traders can customise their order entries can avail themselves of a huge number of technical indicators and analytical tools and can also present market depth in three differing display options.
Due to the sheer number of Forex brokers available internationally nowadays, companies need to offer a suite of platforms for clients in order to compete. In addition to cTrader, ThinkForex also offer clients cWeb and the already mentioned cAlgo.
cWeb is a web based trading interface that allows traders to access currency markets online. Web based traders are typically not as powerful as their downloadable counterparts. However, ThinkForex clients will be pleased to note that this web trader affords clients almost the same amount of features available on the cTrader, downloaded package. ThinkForex and cTrader understand that many traders often would like to be connected to financial markets from anywhere on the go. In the 21st century the ability to trade on tablet of smartphone should be just as effective as on PC and the cWeb doesn’t disappoint.
cTrader ECN Execution
ECN execution is a more accurate form of currency trading as traders linked directly with liquidity providers rather than an intermediary market maker. This significantly reduces settlement turnaround times of forex brokers. Moreover, settlement occurs at more precise prices which minimises any slippage or lag time.
While ECN execution is considered more of a premium feature, it fills customers with confidence knowing ThinkForex are trying to cater for everyone. The cTrader and ThinkForex servers are incredibly fast and reliable, boast low latency trading, offer plenty of liquidity and super fast order fills. If you are a trader looking for a more superior trading experience try ECN Execution.
cTrader Final Summary
cTrader allows traders to trader Forex from anywhere in the world. Users can connect from any device from PC to tablet or even mobile and trade seamlessly. It is one of the most intuitive pieces of trading software available and is considered second only to Metatrader. Based on this most forex broker firms offer cTrader unless they have their own proprietary software like CMC Markets.