After MetaTrader cTrader is my second go-to trading platform because of its ease of use yet modern design and stability.
cTrader is a platform that gives its customers a wide range of useful tools and instruments to help their trading be even more successful. It also gives them access to different charting tools, different order types, level II pricing, and a fast way to open and close positions.
Also, one of the biggest advantages of the cTrader platform is that it enables people to use an easy-to-use interface and a system that is easy to manage. So, any investor, whether they are an expert or a novice, can join this platform to trade.
On top of that, this trading software lets users access crucial trading elements like indicators, chart kinds, timeframes, EAs, and so on. The design of this trading platform is another thing that stands out. Also, like MT4 and MT5, cTrader is very safe and reliable, which is why millions of customers use it to trade foreign currencies.
It’s important to know that cTrader usually comes in two different versions: live and demo. But in this article, we will address the software’s live version. The only difference between these two is that currency trading deals with different kinds of money. In this cTrader guide, we’ll explain how to use the cTrader platform in detail.
Now, let’s go over some of the basics of how to sign up for cTrader.
An online brokerage firm will tell you what steps to take to set up a real trading account on the cTrader trading software. But you can’t register for a live account straight from the cTrader trading platform if you don’t have this kind of broker.
After choosing a trading account, go to the broker’s official website and follow the instructions the broker gives you. During the procedure, you may need to indicate specific information or documents to sign up for your identification. (As needed, depending on the laws and rules of each country) Your broker will then provide you with the login information for your real trading account.
We’ve already discussed how the cTrader trading platform works with demo and live trading accounts. Investors can use live trading accounts to trade with real money on the real market. It’s important to know that some brokers let you start a Live trading account with no money in it right from the app.
If you are new to cTrader and want to start trading, this is how you should go about downloading the platform to your desktop. First of all, you don’t have to sign up for a broker. You can leave that step and jump straight to the cTrader download step to get the cTrader platform.
Most of the time, professional traders will tell you to download the cTrader platform from the broker, which is the company you might use in the future. There are many brokers from which to choose.
Also, it’s important to know that you can download the platform even if you don’t sign up for a demo account with the broker. However, you should register with them in the first place. When you go to the website of a certain broker, you can see that cTrader is listed in the platform section.
If you want to get the cTrader web for Windows, you must click on Download cTrader for Windows, and the file will be downloaded automatically. For your convenience, there is a mobile version of this trading platform.
First, click “Create an Account.” Then, enter your email address and password. After this, you can choose the trading balance you want to use and all the other important details. It’s easy to set up an account on cTrader. Then, you should choose the broker company you like best.
Also, using the trading platform is completely free, which means you can use the demo account to test your trading strategies for as long as you want. And once you’ve done your research and found the best broker for you, you’re ready to create a live trading account. Also, your trading accounts, whether demo or factual, are linked right away to your cTrader ID profile.
Another important advantage of the cTrader platform is that traders can switch accounts linked to their cTrader ID. To do that, click on the trading account bar in the top right corner and select any account you want from the drop-down menu. The trading account will be changed immediately, and the cTrader software will load all the current settings and charts for the trading account.
When talking about charts, it’s important to note that there are different ways to set up your charts on this trading platform. This can be achieved by clicking on the plus sign on the left side of the software. Then, you can choose your symbol, and the platform will add it to the chart.
You may open numerous tabs for various charts, and to see different symbols or instruments, just click on the chart you wish to see.
Also, there is an icon on the left side of the window that, when clicked, will automatically click the new chart. The other way to open a chart in the cTrader platform is by clicking on an icon on the right side of the window at the top. There are two different ways to open the charts on the cTrader.
You can drag and drop the charts on the platform to reorder their order. You can also choose between a single chart or multiple charts. You can move them around the screen when you are in multi-chart mode. On the other hand, it should be said that the free chart mode is the same as the multi-chart mode. The only difference is that you can change the size of the charts, so you can choose how you want to see them.
Find out how cTrader stacks up against its biggest rivals designed by MetaQuotes. MetaTrader 4 is very often compared to the cTrader platform.
MT5 is a refresh of its older brother but some traders prefer the features cTrader brings to the table, lacking on the MetaTrader 5 side.
Technical indicators are used to help with both manual and automated trading. They do this by showing trends and giving signals for when those trends might change. Statisticians and traders have made a number of indicators over time.
The platform has built-in indicators of some of the most common indicators. The cTrader systems include these indicators. From cTDN Indicators, you can also download custom indicators made by other users.
You should know that cTrader gives you all the tools for technical analysis you need to study the markets well. To add an indicator, click on the indicators icon and pick an indicator from one of the categories.
The indicator window will pop up, where you can change things like the source, the time periods, the line thickness, the line colour, the line style, and so on. To place the indicator, you should click “OK.”
To place the indicator. Some indicators, like the SMAs, will show up on the chart themselves. On the other hand, most indicators, like the Relative Strength Indicator (RSI), will show up in a separate panel under the chart. If an indicator is in a separate panel, you can double-click inside the panel to change it.
You can edit any indicator, including those that are on the chart, from the objects list, which you can get to by right-clicking inside the chart or using the list at the top right of your chart. If you want to close your indicator, click the X next to the indicator you want to get rid of in the objects list.
Even if you know the basics of cTrader, that’s not enough. cTrader is very complicated, and almost every feature has its own function.
cTrader has sophisticated trading capabilities such as rapid order input and execution, asynchronous order processing, a wide range of state-of-the-art order types, and a wealth of information to assist investors in managing risk and making smarter trading decisions.
With the cTrader Automate feature, you can use cBots to automate your trading process and Indicators to improve your trading.
The cBots are custom trading strategies that can make trades on their own without human intervention or supervision. Indicators help with manual trading and are also built into cBots to show trends and predict when they will change.
With cTrader templates, you can save the charts you use most often and then use them right immediately on any future charts you open. Let’s start by creating a setup for a chart that we use often. Let’s zoom out, get rid of the grid, and then add a few signs.
Save this configuration as a template. It’s important to remember that we can use the same setup for other charts. Go to the option for templates and type “save the template.” Then, give the template a name. It will be added to the list of templates, and you can use it the next time. Click on the saved name of the template in the “template” option.
The settings for the display stored in the template will be immediately loaded into the new chart. There is no limit to the templates that can be saved.
How to use MetaTrader 4 - Step by step guide — 2023cTrader has 26 different timeframes, including 14 minutes, 7 hours, 3 days, a week, and a month. It should be highlighted that every trader should remember to alter them in order to gain a transparent picture of how the market has been doing based on historical data.
A trader inputs an order to a broker when they want to buy or sell an asset. When you open a position in cTrader, you tell your broker to make a trade. An Order tells the market which symbol to trade and how to do it.
When it comes to order types, it is important to note that there are four ways to buy or sell securities on the cTrader trading platform. These are the Market Order, Limit Order, Stop Order, and Stop Limit Order.
A Market Order is the basic type of order and the fastest way to open a real position instantly. A Market Order is a plea to buy or sell an asset at the best price on the market at that time. This makes sure that you can get into the market.
A Limit Order ensures that the order will be filled at a price that is the same or higher than the expected price. With Limit Orders, the price you choose is the most or least you are willing to buy or sell at. Your order will be placed at the price you choose or at a lower price based on the direction of your purchase.
On the other hand, a Stop Order, which is also called a Trigger Order, works like a Market Order in that it only goes through when the required price is reached. Once the price of the symbol hits the entry price you choose, a Market Order is sent right away, and your order is filled at the best price available.
That means that your order could be filled at a price different from the one you chose since the market could change between the time you place your order and the time it is filled. Stop orders are used to confirm the direction of the market.
We explained that cTrader is a trading platform that provides its users with a variety of effective tools and instruments to help them trade more effectively. One of the best things about the cTrader platform is that it has an easy-to-use interface and a system that is easy to manage. This trading software also provides users access to crucial trading aspects like indicators, chart types, timeframes, and expert advisors (EAs).
It’s important to remember that cTrader is very complicated and that almost every part of it serves a different purpose. cTrader has advanced trading features like fast order execution, quick order processing, a wide range of advanced order types, level two pricing, and a lot of information to help investors manage risk and make better trading decisions. On the cTrader trading platform, there are also four different kinds of orders to buy or sell an asset: Market Order, Limit Order, Stop order, and Stop Limit Order.
MetaTrader 4 is the most widely used trading platform, while advanced traders prefer cTrader. MT4 is easier to use, faster, and has a simple library of automation bot programmes called “Expert Advisors.” MT4, on the other hand, has better charts, features, and market depth than cTrader.
