Trading platforms compared: cTrader and MT5

Trading platforms compared: cTrader and MT5

Among many decisions that beginner Forex traders have to make is choosing which trading platform to use. There are many available on the market, but not all of them are equally good.

Trading platforms are pivotal for Forex trading. Through them, you gain access to the trading market. Some of the best-known Forex trading platforms are MetaTrader 5 (MT5) and cTrader. Both of these trading platforms offer numerous analytical solutions, access to a wide range of trading assets, and comfortable trading interfaces. 

At the same time, there are some advantages and disadvantages associated with both of these trading platforms. In today’s guide to MetaTrader 5 vs cTrader, we are going to discuss all the most important features and details of these platforms that traders should know about.


5 Things You Should Know About MT5 & cTrader

  • MetaTrader 5 was created by MetaQuotes in 2010, the company also previously released MetaTrader 4
  • cTrader was released in 2011 by Spotware, the platform features a modern interface unlike MT5
  • cTrader uses the #C programming language, which allows traders to create various scripts and tools
  • MetaTrader 5 offers 3 types of charts and 21 timeframes, cTrader offers 9 types of charts and 54 timeframes
  • Both trading platforms allow traders to install additional tools to make trading more personalized

Main Differences Between MT5 and cTrader

It is safe to say that both MetaTrader 5 and cTrader are very popular trading platforms. They were released around the same time, MT5 in 2010, and cTrader in 2011. Both trading platforms offer traders a high level of customization, which gives traders the opportunity to make the trading platform truly their own.

But, while both platforms are good, there are certain distinct characteristics that make MT5 and cTrader very different from one another. Below, we will discuss the major differences between these trading platforms to help you choose which one to use.

Design & navigation

The design of these trading platforms, while they might have some small similarities, is very different. MetaTrader 5 features an old-fashioned, Windows 98-style design pattern. The design of this platform is similar to that of MT4, with the navigation being exactly the same. This makes it much easier for traders who want to move from MT4 to MT5 to feel right at home.

However, while it looks old-fashioned, it is very useful. It is very easy to get around the trading platform and find things you might be looking for. This includes indicators and chart settings among other things. 

On the other hand, there are some people who do not like this type of design and want something more modern and new looking. This is exactly what cTrader has to offer. 

With its clean and modern interface, especially when compared to MT5, the cTrader trading platform is used by a lot of traders around the world. The trading platform allows users to customize everything on the platform, even offering light and dark themes.

Although the cTrader platform looks a lot cleaner, it still offers traders numerous tools and indicators to use. This is a huge advantage of the trading platform as it strikes a good balance between design and functionality.

Many people also like to compare these trading platforms to MT4, which was created by MetaQuotes back in 2005. When discussing the differences between cTrader, MT4, and MT5, you will notice that MT4 and MT5 look very similar, with almost no differences in terms of their design and function.

Chart & time frames

One of the most important differences that should be discussed between these two trading platforms is the charts and tools. MetaTrader 5 offers traders 3 different types of charts and 21 timeframes. 

Also, there are 38 built-in indicators available for traders by default. On the other hand, cTrader offers traders access to 9 different types of charts, with 54 timeframes, and over 70 built-in technical indicators. 

However, it should be noted that while there are more built-in indicators available in cTrader, the users of MT5 can easily get different types of indicators online. This is due to the huge following that MetaTrader has. There are numerous traders who are creating indicators of their own, offering others the opportunity to download these indicators and apply them to their trading charts. 

One advantage that cTrader has over MT5 in terms of the charts it offers is that it allows users to detach the chart windows from the trading platform, which allows for a more comfortable and easily customizable experience. 

Another very important thing that should be noted when talking about cTrader vs MT5 is that cTrader charts come with their own toolbars, which makes it easier for them to control the charts. cTrader also offers its clients the use of timeframes which allows for better and more detailed market analysis.

Available order types

Having the opportunity to use different types of orders gives traders better control over their positions. In this regard, both MT5 and cTrader have quite a lot to offer. There are very minor differences when it comes to the order types they have for traders to use. 

The biggest difference would be the fact that cTrader allows its clients to use pending orders even when the market is closed, which is not available on MT5. In addition, when it comes to MT5 vs cTrader order types, it should be noted that cTrader allows for a much easier configuration of orders. 

There are also order tickets offered by cTrader, which are able to calculate the possible risks of the trade. This can be quite helpful for traders. As for the actual order types, they are almost the same on both MT5 and cTrader. Because of this, many traders view cTrader as one of the top MT5 alternatives.

Trading automation & other features

Automatic trading is a very important feature that should be discussed when comparing these two trading platforms. MetaTrader offers their clients automated trading programs called Expert Advisors. 

These are manually coded programs that can be used for automating different tasks in the trading market. This includes activities such as technical analysis as well as actual trading activities.

Expert Advisors can be created manually or downloaded online, depending on the strategy you are using and the individual interests you have. As for cTrader, there is a similar automated trading program available for this platform, which is called cBots.

cTrader uses the C# programming language, which might lead to some thinking that there are more automated trading tools available for cTrader, as C# is viewed as a universal coding language. However, this is not the case.

MetaTrader 5 (as well as the MT4) are some of the most popular trading platforms in the market, and over the years, there have been numerous automated trading tools created for these trading platforms, and more are created on a new daily basis.

Pros & Cons of MetaTrader 5 and cTrader

To truly grasp the differences between MetaTrader 5 vs cTrader, it is very important for traders to understand the advantages and disadvantages of these trading platforms. 

While they are both very good and actively used by millions of Forex traders around the world, they do come with specific advantages and disadvantages that should be considered by traders when choosing which one of them to use. Below, we will discuss the main advantages and disadvantages of MetaTrader 5 and cTrader one by one.

Advantages and disadvantages of MetaTrader 5

MetaTrader 5 comes with numerous advantages for Forex traders. One of the biggest advantages of using this platform is that it comes with an array of indicators that can make market analysis a lot easier for individual traders. 

The trading platform is also known for having a huge following online, which makes it a great platform for trading as you can easily find other traders who are using this platform, exchange ideas, and see how they are using it. 

This popularity also allows traders to easily find different types of additional tools to install on MetaTrader 5 as many traders create new tools to use on it. MT5 uses a specialized form of C++ as its programming language. This language is called MQL5 and can be used by traders to build their own indicators, automated trading bots, and so on.

On the downside, this trading platform comes with an old-fashioned design, which might be a huge disadvantage for some.

Advantages and disadvantages of cTrader

One of the biggest advantages of using cTrader is that it offers traders a very high level of customization. This trading platform can be tweaked and changed according to the individual needs of the trader. The design of cTrader is also more modern and easier to use.

As with MT5, cTrader allows users to code their own trading bots and indicators. They use the C# programming language for this purpose, which is more widely used and might be easier to learn than the MQL5 language used in MT5

One drawback to this trading platform is that it is not as popular as MT5, which makes it harder to find additional tools to use on cTrader. In fact, there are some traders who view it as one of the best MetaTrader 5 alternatives, as for the most part, they are both well-respected platforms for Forex trading.

"Our motto on our logo is actually "cTrader, traders first". We have really developed the platform around what traders wanted, what they desired, and our goal is to be the best trading platform out there" - Alexander Geralis

What Did We Learn From This cTrader vs MetaTrader 5 Guide?

  • MT5 looks a bit old-fashioned, while cTrader's design is more modern
  • MT5 offers 3 types of charts, 21 timeframes, and 38 built-in indicators
  • cTrader offers 9 chart types, 54 timeframes, and 70 built-in indicators
  • cTrader offers clients higher customization options than MT5
  • MT5 has a larger community of users that are very active and can be great for learning from

FAQs on MetaTrader 5 vs cTrader

What is the cTrader platform?

cTrader is one of the most popular Forex trading platforms in the market. It was created by Spotware in 2011 and has become very popular since then. It offers access to numerous trading assets, high-quality trading indicators, and many other features. cTrader is very commonly viewed as one of the best MT5 alternatives.

Is MetaTrader 5 safe?

Yes, MetaTrader 5 is very safe. This trading platform is used by a lot of traders around the world and is known for offering traders a very high level of security and safety. MT5 is used by many people due to its higher security standards. 

Which is better, MT5 or cTrader?

It depends. If you are looking for higher customization, then cTrader might be a better choice, but if you want a trading platform with a better following and larger community, then MT5 is much better. 

When choosing between cTrader or MT5, it is important to understand that both of the platforms have their own individual advantages and disadvantages.