Trading platforms compared: cTrader and MT5

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4 July 2022
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7 September 2022

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

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

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 important features and details of these platforms that traders should know about.

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5 things you should know about MT5 & cTrader

  • MetaTrader 5 was created by MetaQuotes in 2010, the company also had previously released MetaTrader 4
  • cTrader was released in 2011 by Spotware, the platform features a modern interface unlike MT5
  • cTrader uses #C script, which allows traders to create various scripts and tools
  • MetaTrader 5 offers 3 types of charts and 21 times frames, cTrader offers 9 types of charts and 54 time frames
  • 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 in the market. 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 makes it easier for traders 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, cTrader or MT5.

Design & navigation

The design of these trading platforms, while 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 the MT4, with the navigation being exactly the same. 

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

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

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

Although the cTrader looks a lot cleaner, it still offers traders numerous tools and indicators to use. This is a huge advantage of the trading platform - keeping a perfect balance. It offers traders a lot of great trading capabilities, while also not compromising on the design.

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

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 time frames. 

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

However, it should be noted that while there are more built-in indicators available on cTrader, the users of MT5 can easily get different types of indicators online for MetaTrader 5. 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 the 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 also come with their own toolbars, which make it easier for them to control the charts. cTrader also offers its clients to use more time frames, and that 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 order types. 

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 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, which 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 the cTrader, there is a similar automated trading program available for this platform, which is called cBots. For many, this makes cTrader one of the best MetaTrader 5 alternatives.

cTrader uses 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 true. 

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.

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 very good and are very actively used by 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 for Forex trading 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. You can easily find other traders who are using this platform, exchange ideas, and see how they are using it. 

Also, such popularity also allows traders to easily find different types of additional tools to install on MetaTrader 5. 

On the other hand, the 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 easy to use.

On the other hand, the trading platform 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 MetaTrader 5 alternatives.

What did we learn from this cTrader vs MetaTrader 5 guide?

  • MT4 is a bit old-fashioned, while cTrader's design is more modern
  • MT5 offers 3 types of charts, 21 time frames, and 38 built-in indicators
  • cTrader offers 9 chart types, 54 time frames, and 70 built-in indicators
  • cTrader offers clients higher customization options than MT5

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 in the market. 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 very high security and safety standards. When comparing cTrader vs MT4 vs MT5, many people use this platform 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.