Which Forex Trading Platform is BEST? (MetaTrader 4 vs cTrader)

Hi there! Now, for those of you that are
already members of our Forex signals trading community, you know that we have
a very vibrant chat going on over there; discussing everything from trading
opportunities, different platforms. Everything you need to know about the
Forex market, and I saw a chat going on last week which I found quite
interesting. It was basically, discussing which trading platform is the best one
to use: is it Metatrader4, often referred to of course as MT4 or is it the new kid
on the block, the squeaky clean Ctrader platform which is now being offered
by a number of brokers? So I thought, I’ll spend a few minutes today just
discussing that. But before I do get into that let me remind you to subscribe to
the channel if you don’t already do so, that way you get to catch up my past
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discussing trading opportunities for the week ahead. I look forward to seeing you
in there! So first off, let me explain the basic
difference. Now, Metatrader 4 or MT4 is the most commonly used Forex platform
on the planet. I think it was first introduced back in around 2005. Now
it’s free, available by most Forex brokers, and they offer to the customers.
It’s very simple to download, very easy to install, and very very easy to use.
Does have its drawbacks, though. For some, it could be considered quite clunky, but
I guess it is 15 years old so what do you expect? But the huge advantage of
using MT4 is that its programming language has been adopted by many coders.
So there are multiple providers out there that are willing to code up your
custom indicators or your strategies to make your life as a trader much more
automated. Some people find that a huge advantage! These are known as EAS or
Expert Advisors. Now the much newer, Ctrader platform is considered by a few,
to be the more professional version with lots of additional functionality. Now,
this is beneficial to both the experienced trader and the new trader. In
fact, it has a very useful advanced order protection area, allowing multiple exits
on an open trade. You also have the ability to view the market depth of a
particular Forex pair or indeed, any trading entity that you’re trading. Some
people find that very very useful as well. Now, let’s jump onto the screens. I
think the best way to compare is by looking at the two, side-by-side, then you
can decide which way you want to go. Okay, here we are on the screens. Now, I’m going
to start off by looking at the Meta Trader 4, the MT4 platform, and then
we’ll switch over, and I’ll show you the Ctrader platform, then you can make your
decisions on which one you think is best suited to yourself. Alright, I just
removed my video from the screen, so you can see what we’re looking at,and we’ll
get straight into it! Okay, so when you first installed your MT4 broker platform,
it’s going to look something like this. I suggest the first thing you do is have
a glance down here, on the bottom right to make sure that you’ve got connection
to the broker, and getting live price feeds. As you see, the blue green
box. Now move over to the left of the screen, you’ll see the market watch
window. Here you’ll see all the currency pairs that are available for you from
your broker. If it’s incomplete then just simply right click, and then “Show All” vand
then, you’ll have the complete list that is available; showing you the currency
pairs and the commodities, and so forth. If you drag onto a chart ofa
particular currency pair, then that will update and that will show you the live
feeds for that particular currency pair. You don’t need to open market watch
window all the time. Keep that closed to optimize the chart size on your screen.
Now, each chart can be maximized and minimized of course, to allow for better
viewing and clearer analysis. Now, at the top here, you can see all these toolbars
which are fully customizable and these tools are available at various locations.
So you can see here by going to “Insert” and “Indicators”, all the different
indicators that are available, and these are all provided by the MT4 trading
platform. You can also access the indicators by going to this green drop-down here, as well. Here you’ll see the different chart types that MT4 made
available. Now, you’ve got the standard candlesticks, there’s the bar chart,
the line chart. Personally, I only really look at the candlesticks and the
line chart. Some might say that the MT4 platform is quite limited in the
available charts, but that’s of course a matter of taste. You can see different
lines, you can draw on the chart. You’ve got your horizontal lines,trend lines
vertical lines. Right clicking on those will allow you to change the properties,
different colors and what they look like and so forth-all fully customizable. The
colors of the charts fully customizable, right clicking going to properties and
changing all the different colors, background, different colors for the
candles and so forth, as you would expect. Now, once you’re happy with a particular
color scheme, you can save it as a template.
Going to Chart>Template>Save template, and call it whatever you wish. Just call
this demo, and once you are happy with the particular color scheme, so now you
can make other charts with the same look. You can also set up profiles so that
your screen configurations are saved for your next visit, and you do
that simply by going to Files>Profiles and Save As, and just name the profile to
whatever you want to call it. Now, there’s a whole raft of coded indicators that
you can attach to the chart, and you simply do that by going to Insert>indicators
and picking any particular indicator that you wish. You can delete an
indicator by right-clicking on it , Delete Indicator Window and it just takes them
off the screen. Now, as I mentioned in my brief introduction, there you can also
design your own Indicators and Exper Advisors and have someone code them up
for you. Now, if that was the case you place it , then put them into the File>Open
Data>MQL, and put them into Expert or Indicators depending on whether they are
an Expert Advisor which will trade automatically for you or show you
signals, or indeed just an indicator.
Going toView>Terminal pulls up or
your Trade History. You can check the history there. You can check the open
trades, you can do adjustment of your trades, as well just by pulling out the
trade and making the necessary adjustments. Going to Terminal again here
you can see marketplace this is where you can purchase all the different
indicators that are being coded up, trading strategies and so forth.
So you can see it’s quite an extensive easy-to-follow functionality that makes
the MT4 platform the most actively used Forex platform on the planet. For now, I
encourage you to explore its functionality in your own time. There’s
plenty of free online tutorials in there that will help you to explore the hidden
wonders. Now. let’s have a quick look at the Ctrader platform. Okay, so here is the
Ctrader platform first thing you’ll notice is the look and feel is very
different. You start off your journey by going to the left of the screen you will
see the Watchlist. Here’s where you can create your own Watchlists. If you’re
looking to see a particular currency pair, then you go to Finder, and and you can
scroll down and see all the different trading entities that your broker is
allowing you to trade. Then you have access to and you can create your own
Watchlist there, as well by clicking that +, naming your Watchlist and calling it
whatever you wish. And by clicking on a particular currency pair, will pull up a
new Market Order ticket. Here, you can put in the size of your trade hovering over
here gives you a lot more information than you get instantly on the MT platform. You put in your size. Note here that the size is in the unit size, not in
lot size. So for example, we know the lot size of a currency pair is 100 thousand
of the base currency so that would be one lot; gives you the pip value, as well,
in this particular currency pair. And again hovering over, you’ll see the
position, also, you’ll see the pip value the commission, margin required and so
forth. A lot of information there at your fingertips. You can also place your stop
and take profit targets on the order entry ticket as well, as you could do
with the MT4 platform-gives you different options here, where you can
risk a certain percentage of the account. You can actually set your profit targets
in terms of cash money or indeed on the number of pips. Take profit and stop-loss
gives you the estimated price, as well. You can toggle between views by clicking
this little icon here takes you to different pages and back to the home
page. In the usual wait, you can expand a particular price chart by clicking that
icon, and here you can see the different options. You can look at the bar chart,
candlestick, line chart, dot chart, as wel. Now, this is one feature that is
an improvement on the MT4platform. You can have time intervals at multiple
different settings. Anything from the one minute, two minutes, three minutes. You can
see here one hour, two hours, four hours, six hours, eight hours, and so forth. Whereas
MT4 just has the standard time frames. And also look at tick charts. You might have a one tick chart, or five tick chart as well. And of course, that
would adjust the price chart accordingly. This is the key little feature. Underneath
the Price, you’ll see this Sentiment Indicator. This shows you that with all
the clients at this particular broker, 80% of them, by hovering over, expect this
currency pair to rise so 80% are long on this currency pair. They use this little
tool. This is unique to the individual broker’s client positions. And
as usual, you can change the color of the charts by clicking that little icon
there. Fully customizable, down the right-hand side of the screen here, you
can put in your trend lines, horizontal lines in the same way. You can use your
Fibonacci extension retracement levels, retracement levels. Now, another key
feature that I like about the Ctrader platform is that you can detach a chart
and move it to anywhere you like. So if you’ve got multiple screens or you’re
limited for screens, you can literally attach as many of these charts as you
wish. Now, often with mt4, you may need multiple versions of mt4 in order to
look at different profiles at any one time, but by detaching a chart you can
literally move it to anywhere you like on your trading platform.
Now, another really cool feature that I think the Ctreader platform has over the
MT4 platform is the advanced order protection. So, if you toggle between
Looks and go to this particular look where you can see the open positions, the
order, and so forth; price alerts, you look at this little Shield icon beside an
open trade, click on that and it allows you to pull up this advanced order
protection ticket. Here will allow you to exit that particular trade in multiple
exits, perfect targets and so forth. So, this
position is one lot or a hundred thousand wish to exit half the trade at
10 pip-profi. You might want to exit another twenty thousand or point two of
a lot at 20 pips and so forth, until you get to the Complete Order. Apply that and
that will exit the trade at these varying profit target. Really cool
feature! You can also move stop-loss to break-even should you wish to. Just a really
cool ticket, real cool bit of functionality there that Ctrader
platform has. Now, another cool feature that a lot of people find useful with
the Ctrader platform is the depth of market. Basically, showing you where
orders are surrounding the current market price. So, if you go back to the
Watchlist, look on a particular currency pair>right click>and then Information.
You’ll put up this ticket, it shows you much more information about that
particular currency pair, and you’ll also be able to see the depth of the market.
So, here you can see where orders are placed around, where the current bid and
offer. A lot of traders like to look at that as well. Lots of information there
at just a couple of clicks, or wait you can also buy and sell from this ticket,
as well- changing the lot size, unit size. And similar to the Expert Advisors of
course, you can put in your Cbot. Now, Cbots basically are pre-coded
indicators and tools that you can use to assist in your trading. So these are the
standard ones, but of course then you can go to the Network, where coders have
coded other indicators and so forth, and made them available. So clicking on there,
pulls up a new window where you can look to see all the different available CBOTS that you can hook on to your trading platform.And as with the
Metatrader4 platform, there’s a whole bunch of functionality here that I’m not
able to cover in a quick short introduction video like this. So I
encourage you to spend some time in exploring it to see if it fits into
your needs. There’s also a whole bunch of training videos out there, available, to
help you in your exploration. Trying some of these hidden wonders that the
Ctrader platform offers. Okay, so I hope you found that useful. I’ll end up by giving you
here my two pennies worth. The trading platform that you choose to use is
really not that important if you have what it takes to be a trade. The trading
platform will not make that much of a difference.
Sure, one has its advantages over the other, different trade offs, and so forth.
But I’ll say focus more on yourself as a trader and not the platform. Once you’ve
got some degree of success, some degree of consistency in trading, and then
perhaps look to explore the different platforms out there and see if one is
more suited to your needs than the other. As always if you like my video, give me a
thumbs up. If you didn’t, give me a thumbs down. Don’t forget to leave a comment, and
of course, as I said earlier don’t forget to subscribe to the channel using that
“Bell” notification. You can follow us on Instagram and Facebook and if you’re
following on Facebook I’ll see you Monday 2 PM London time for our free live
stream. ‘Till then. Happy trading and good luck!

84 thoughts on “Which Forex Trading Platform is BEST? (MetaTrader 4 vs cTrader)

  1. Hi Andrew, enjoying very much your videos. Would you please consider making a video on trailing stops?
    Thumbs up from Ecuador

  2. The reason I don't like MT4 is that I don't understant it well, when I want to set stop loss to like -30% on other brokers like iq option is super simple while on this mt4 and c trader is wat different…

  3. Hi sir,
    I am Akshay from India I am watching all of your videos damn Great.
    & suggest the best froex broker for trading

  4. hI all theres a program for MT4 called floating charts which allows you to detach individual charts from the platform , just google floating charts , Hope this helps , Happy trading

  5. Yet another great video Andrew, full of good quality information & very informative great stuff. If anyone comes here to watch this video & on the fence about Forex Signals, don't be check out the seven day free trial & I promise you won't be disappointed. Any newcomer wanting to get into trading, you're in the right place, Forex Signals is a wealth of information with expert mentors on hand to help you throughout the trading day. The best place for anyone wanting to trade the Forex markets, highly recommended 100%, keep up the good work brilliant.

  6. HI
    GREAT video
    I have two question
    1. where can I find true market depth which is not focus on tiny price action
    2. why you don't use MT5

  7. Hi everyone, I am from California USA, I was not earning in all my trades before I met Mr Eric here on Youtube which he helped me with his strategy and I have make my first withdrawal of $32,000 last week with his strategy and guidance I recommend you to contact him at [email protected], he is very nice, honest and truthful he will guide you on how to go about it and help you for free and you will keep smiling little like me every hour of your life

  8. As always your videos are very educative. I currently use the MT4, please how can i have for example all the charts of USD pairs at the same time on my screen? Is it possible?

  9. I finally found the missing piece with the help Mr. Franncy his strategy produces incredible results that are 99% accurate and will make you recover from all your losses kindly contact him via [email protected] com for proper guidelines

  10. Thanks Andrew for another informative video. I have a question please. Is hedging good? should we use it or we'll just accept the loss and rely on good risk reward ratio? Please enlighten us on this. thanks sir

  11. Great Video loved it, the kicker though there are still other trading platforms that would be great to understand their features like MT5, some brokers like fxcm have trading station for desktop and mobile and then there is the web trading platforms for fxcm, jafx and other traders too

  12. Hi Andrew i want to learn price action trading . please give me your thoughts about it as i value your thoughts more than anybody else.

  13. i would like to thank you i have binge watched all your videos over the last week and you have provided me with the most valuable knowledge and i have started using your scalping EMA strategy. This really works for me and im finally making great profits all thanks to you

  14. Hi, if I enroll in your course will I become a professional trader , do you provide any learning material or just signals?

  15. Interesting video, as a new retail trader, do these offer the same margins? After the changes in margin's this year I'm interested to find a platform that provides the best margins. Currently trading on IG, but interested for some opinions and advise?

  16. In this Forex market there are more than thousands of Forex brokers but all of them are not safe for trading. Without regulations there are so many brokers but I only choose Forex4you as they regulated, licensed and reliable online trading broker. For many years they are giving necessary services for their clients. I get low zero spread, security of fund as well as investments, high leverage, low margin, low transaction cost etc.

  17. Hands down the best trading platform all round for beginners and existing traders . Offers sign up bonus , free 1-2-1 coaching and 24/7 support. Check out Ava trade here https://bit.ly/2DAEkXv get free signals from a guy called @tradewithterry on Instagram.

  18. Forex brokers are the mediums in Forex market. To exchange foreign currencies Forex traders mostly depend on their broker. I am working with the reliable and regulated broker Forex4you. They are very active and for their fluent trading environment and quality service to their customers they have goodwill. I am working comfortably. I am really satisfied with their overall service system. For their customer they give service for 24/7 continuously.

  19. https://youtu.be/orYyXYP_oig Teknik analız yapan videolar mevcut izlerseniz size biraz bakış açısı sunar

  20. Always get in contact with an outstanding broker that knows how to place trades and how to read signals, at this period i would recommend nicolas scott, the broker everybody talks of, his the best out there, try to reach him on [email protected] .com

  21. I love all of the function that ctrader offers. However, it is difficult to switch from mt4 to ctrader because I already know and use mt4 for a long time (around 5 years), but yeah. I am adapting to use ctrader now using ICM

  22. I know this is completely off topic, but every now and again I mistake you for Vladimir Putin. Not all the time, but sometimes I look at you and think you look similar. Haha.

  23. This will change your life trust me, am also using this broker and I earn $160+ per day. It's guaranteed, this is the best forex broker ever, I've tried almost all of them. http://www.forextime.com/register/fxtm-the-global-authority?raf=0a9b1b11 You will thank me later.

  24. I use cTrader. You forgot to mention that you can just drag the level from the chart on where you want to take profit and where to put the stop loss. A trailing stop loss is available by click and drag as well.

  25. After reading the comments below, I realized that most of the posters here are just selling their products whether they are a certain broker or a certain guru. Very few actually discussed which trading platform they use for trading.

  26. Broker can make you rich in forex trading if you get the right one like Bprimes. Their trading platform is visually so much attractive and technically very useful with tools. They provide instant execution, 100% fund safety, good leverage to promote the capital and co-operative customer service. You don’t have to think about your fund safety. You can comfortably make profit with your every single trade if you work with them.

  27. Such an intriguing video, let me use this opportunity to share my experience with my fellow traders. I am presently a million dollar rich, still trading and earning. I attained this heights with Mrs Rachel  as my expert trader. I have worked with Mrs Rachel for a year using her superior expertise she has brought the money to me. Mrs Rachel is open to all and is in the business of guaranteed trading for commission. Its about time to get those losses back.  [email protected]   OR  Whatsapp : +14422433874

  28. I am recommending Trade12 broker which is a broker operated by Exo
    Capitals Markets ltd. This is a broker highly authorized internationally. Their
    facilities are of high standard which make a trader much worthy of Forex
    trading. These are helping the broker in it’s advancement indeed and they
    already have become a global brand indeed.

  29. I use tick timeframes with line charts, so I could see obvious pattern of reversal and continuity. You can't view tick timeframe in metatrader.

  30. hi quick question. what if i place an order that isn't completed, then close the platform. will the order still complete if the price is reached even if the platform is not open? i use fidelity.

  31. Thank me later,, i was able to make with as little as $4000 to profit as much as $36,000 after he has successfully traded for me with the help of his latest signal software not only that i had fully access to my account and can request for payout at any time. i rate him a 90% ,highly recommended , God bless the day i met Mr Hafeez Ullah < [email protected] com> feel free mail him for guidance^

  32. Obviously currency forex trading is a reliable platform. Now a days many people enter this trade and earn much profit to uses his fund. In present world currency forex trade is most of the popular global trade and people continue doing there trade through various broker. Now I am working with AAFX and they make me a reliable currency forex trader by providing there outstanding service like MT4 for mac, mobile & tab, video tutorial etc.

  33. This is a great video. I am using it in my own website about this topic here: https://binbitforex.club/%ef%bb%bfmost-important-trading-platforms/

  34. Now i believe Binary option is not scam , i got it wrong trading with bad strategy in the beginning now Carla Lorraine Culmer trade my account and make good return of investment after i found good comment on Youtube video about her trading strategy i contact her for help ,now i can increase my investment for long term trade .contact her for help .
    Email : [email protected]
    Skype ID : carlalorraine2

  35. some help needed here. I'm a complete novice trader. Never really done any live trading. I was wondering what's the difference between the "MetaTrader 5" and "MetaTrader 4" software? which should I get?

  36. The rich gets richer out of the ignorance of the poor while the poor gets poorer out of his own ignorance and stubbornness. A lot of people think forex trading is only for the rich but in the real sense forex trading is more helpful to the poor

  37. Sir Smith, where could i get or download a virtual trader? I'm not confident enough for my skill so I want to practice first. Thanks.

  38. When you’re chasing a big goal, the kind that takes months or years to accomplish, your biggest enemy will be complacency — letting days go by without any forward motion. Set yourself up for daily progress with productive habits. Instead of losing money in FOREX, why not get a good trade agent. I use one and I’ve achieved my financial goals. Thank you Reed. Here’s an official email to reach him on ( [email protected] gmail .com )

  39. The most important thing is how you trade. You can be successful with any trading platform if you have the right guidance. This is not to say you should use just any trading platform. Authur is my professional mentor. I have traded with him for 13 months now and its been success all the way. I just follow strictly his instructions and profits have been off the roof. Join him authurclinton1 (a) g. m. a. i. l and you be glad you did. please let him know i referred you (WJ13A) so i can get a little bonus. Good Luck!

  40. Thank you for the detailed explanation, might as well look into ctrader, though been doing my trading mostly on mt4 for the past 5 years on hotforex. but who knows right?

  41. can someone tell me if “FxPro” is a reliable broker ? because im new in that sphere and on every broker I search for there bad reviews… and also for fxpro

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