cTrader vs MT5

Spotware Systems Ltd develops cTrader, while MetaQuotes builds MetaTrader 5. Both platforms work on Windows, Mac, iOS and Android, as well as in web browsers without installing any software. The MetaTrader 5 web terminal can be opened in your browser if you use Linux.

You can compare the platforms side by side using the core specifications listed in the table. You can download either app for free, but your broker sets the trading costs.

Both platforms process trades you open immediately through market orders. You can place a pending order when you prefer to wait. The trade opens only when the market reaches your selected price, as set by that instruction. Four order types are available in cTrader: market, limit, stop and stop limit. A pending order doesn't tie up your free margin in cTrader until its price is triggered.

You can set stop loss and take profit levels in cTrader using either pips or an exact price. You can also add multiple take profit targets, which close parts of your trade in stages. Fast price changes can still cause slippage on either platform. This small gap separates the price you click on from the price your trade actually receives.

MetaTrader 5 provides 2 market orders, 6 pending orders, 2 stop orders and a trailing stop. Your broker selects an execution mode for each market: Instant, Request, Market or Exchange. MT5 offers 2 ways to group your trades. Under hedging, you can maintain separate positions in one currency pair, even if they move in opposite directions. Netting combines all trades for one instrument into a single open position.

You can open up to 100 charts across 21 timeframes on MT5's charting screen. You receive 38 built in indicators and 44 analytical objects for drawing on quotes. An advanced market depth window is also available in MT5. This live price ladder shows waiting buy and sell volumes, and you can place a trade with one click.

Both platforms support automated trading programs, but they differ in how they handle hosting and coding. cTrader refers to its trading robots as cBots. The built in code editor lets you write them in C# or Python. Once started, a cBot can continue running in the cTrader cloud 24/7 without any extra charge. You don't need to leave your computer switched on.

If you don't code, the cTrader Store has 988 cBots and 1555 chart indicators from verified sellers. A money back guarantee of 14 days is included with paid tools in the store through Nuvei. With cTrader Copy, you can automatically copy other traders. Your broker and local regulations determine whether you can use live copy trading.

The MetaTrader 5 platform calls automated programs Expert Advisors and works with MQL5, its own programming language. For basic bots, the MQL5 Wizard can produce one in just a few clicks, and you can build robots in the MetaEditor. The MetaTrader Market provides more than 2500 ready made applications. Before you pay, you can test each one in the Strategy Tester.

You rent a virtual server within the platform itself, allowing MT5 robots or signal subscriptions to continue while your computer is off. The remote online computer remains connected 24/7 so your automated trades don't stop.

Your final MT5 vs cTrader decision often depends on the UK broker you trade with. More FCA regulated firms support MetaTrader 5 than support cTrader.

If you want to compare both platforms using one login, FxPro, IC Markets and Pepperstone provide cTrader as well as MT5. Each firm also provides TradingView and earlier MetaTrader terminals.

If all you need is MetaTrader 5, you can also look at ActivTrades, Capital.com, IG and Vantage. These brokers offer MT5 with their own web and mobile apps, but they don't support cTrader. Every broker listed here gives you a free forex demo account, so you can first try placing orders with virtual money.