Choosing Trading Platform
MetaTrader
Go to the siteOne-Click Trading is a useful feature that allows you to open new orders with just one click. To activate One-Click Trading on the MT5, follow these steps:
- In your tools menu, go to the options tab.
- In the options window click on the "Trade" tab.
- Tick the "One Click Trading" option.
- Read and agree to the terms and conditions.
- Click on "OK".
Your trading process is now more optimized and your order execution time is minimized.
A Trailing Stop is a tool that monitors the price of an asset and corrects itself according to the movement of an opened position in the trade.
Trailing Stop setting algorithm in MT5:
1. Right-click on the line for your position and open the transaction menu, which is displayed in the "Terminal" block.
2. Select "Trailing Stop" and set the length in pips.
The level at which you open a long position is indicated by a green dotted line. If price starts to rise at the distance in points, specified in the settings, trailing stop will be activated. In this case it will be marked on the chart by a red dotted line.
Stop Loss (SL) and Take Profit (TP) are important tools to mitigate risk and should be present in most traders' strategies. Stop Loss protects you from losing a large amount of your investment and Take Profit helps you protect your profits.
You can set Stop Loss and Take Profit when you open a new position or after you have already opened the trade.
For a new trade in MT5:
1. open the "New Order" window.
2. Enter the predefined SL and TP prices in the appropriate fields. 3.
3. place the order.
For an existing trade:
1. use the "modify" option on the menu.
2. Drag and drop stop loss and take profit levels.
Choosing the right version of MetaTrader can significantly change your trading experience as each platform offers different features, tools and services. MT5 has significant advantages over MT4, namely:
- Offers a wider range of instruments, including futures and stocks.
- It has a larger time frame and more integrated indicators.
- Provides access to the economic calendar on the platform.
- Provides testing and optimization capabilities.
- Provides fast and stable connection to servers.
While MetaTrader 5 is a newer version of its predecessor, many traders continue to use MetaTrader 4. Every forex trader can choose a trading platform that suits his or her investment methods, objectives and set of necessary features.
1. Launch the MetaTrader 5 platform.
2. On the terminal, click "File" and then select "Login to trading account".
3. Log in with your details using the email sent by the broker.
4. Select the server you want to connect to from the list.
5. Click OK.
1. Download the MT to the desired device.
2. After downloading log in to MetaTrader using your login
3. Choose the account you want to trade in - a real or demo account.
4. Click on the "New Order" button under the "Tools" section of the MetaTrader, and the order window will open.
5. Watch and close your positions and pending orders.
6. Select the leverage, adjust the stops and limits of the open positions and orders.
- Download MetaTrader 5.
- Enter login credentials for a live or demo account.
- Start trading.
With MetaTrader 5, you can trade from any device, anywhere in the world, at any time you want. If you do not want to download MT5 on your PC, open the web version of the platform. All you need to run MetaTrader 5 is an Internet connection, a web browser and your trading account password.
сTrader
Go to the siteThe economic calendar contains the dates of important events that may influence the price movements of specific securities or the markets as a whole. cTrader offers this service as an important tool to show its users future economic events. You can use it on your PC, online and mobile devices.
The cTrader economic calendar has a simple interface. On the panel you can view future events related to the trading pair you are interested in. Information in the calendar is displayed in chronological orders, and by clicking on the appropriate field you can get additional data.
The cTrader platform has built-in automated signals from one of the leading providers of technical analysis - Trading Central. Using Trading Centrals market analysis, the cTrader platform automatically calculates target prices and trade settings. The service is focused on the analysis of many assets at different timeframes. The algorithm is based on the calculation of several technical indicators with settings according to the period indicated on the chart.
There are several services that provide daily analytics and expected levels for different tools. Trading Central signals can be displayed both on the broker's website and directly in cTrader.
The trailing stop step is a profit-protecting tool that allows a deal to stay open while the price is moving in the right direction, but close the deal as soon as the price changes direction by a certain number of pips. For cBots the value of trailing stop step is 10 pips.
For example, if the current price rises to 100 euros, the trailing stop is automatically increased by 10 percent, that is, to 94.50 euros. If the price falls below 94.50 euros, the order is automatically executed. The trailing stop is useful for investors, because it allows them to lock in profits and reduce losses.
To load settings for the cBot, you need to right-click an instance of the cBot symbol and select "Load Settings" from the pop-up menu. To save the cBot settings, repeat the Load Settings procedure. You must select "Save Settings" and then a window will open asking you where you want to save the file.
Before choosing the most effective indicator for the cTrader platform, you should understand the key points of your trading strategy. For example, factors such as timeframe, asset, frequency of entries, average time of holding your positions and others are important.
Follow these steps to add the required indicator to your chart:
1. Right-click inside the chart you want to apply the indicator to.
2. When you put your cursor over the "Indicators" option, a context menu will appear.
3. Scroll through the various categories or find the indicator you want.
4. Press OK to apply the default settings.
1. Download the cTrader to your device or open the web version.
2. After downloading, log in to cTrader or create a new account.
3. Choose the account you want to trade in - Live or demo.
4. Click on "Create a new trading account" in the panel from the drop down menu.
5. Find the desired broker and fill in all the necessary data of the account after you go to the official website.
6. Develop the strategy by which you will trade.
Before you start working with cTrader, you need to choose a broker depending on your future trading strategies. If you are new to trading, the cTrader platform provides the option to register a demo account, which you can use as long as you like. If you have chosen a broker and are ready to make a real investment, follow these steps:
1. Download the cTrader installer from your broker's website.
2. Run the installation file.
3. After completing the installation the cTrader terminal will start automatically and you can start trading.
FAQ’s
cTrader has a fancy user interface and tools for day traders and scalpers, whereas the MetaTrader 4 platform provides the best solution for automated trading thanks to an extensive community dedicated to EA creation.
Although both platforms have their advantages and disadvantages, each offers unique features. In general, it all depends on your preferences and trading strategies - cTrader and MetaTrader are fully functional.
MT4 and cTrader together have taken the financial trading industry to new heights. And here we will show you what to look for before choosing between them.
Similarities
It would be hard for you, as a regular retail trader, to find any major disadvantages of these platforms, while there are plenty of advantages. And there's a good reason for that: both platforms have been around for at least a decade.
Most of the functions of these platforms are sufficient for smart trading in the financial markets. Technical indicators, charting tools, etc. - are available, so whichever trading platform you choose, you can analyze charts without problems. Similarly, both platforms can be customized. Adding indicators, additional windows, and creating custom layouts are all possible with cTrader and MT4.
Talking about the similarities between both platforms, it is worth noting that they are suitable for CFD and Forex trading. They are quite accessible on mobile devices, Windows PCs, and other web-based versions.
Differences
The difference between the MT4 platform and cTrader is that it offers 26 timeframes, which is especially appreciated by scalper traders as they trade on the lower timeframes. In cTrader, a one-click entry allows you to adjust your stop-loss or take-profit levels by clicking and dragging the mouse on the chart, while MT4 only gives you the option to set the size of your trading position in lots.
A market depth indicator and economic calendar are what set the cTrader platform apart from the competing MetaTrader platform.
With market depth, traders have a better overview of liquidity and can eliminate slippage as much as possible. With the available features of cTrader, users can make more accurate market entries, as MT4 only includes one depth feature. In addition, Spotware developers have made the economic calendar an integral part of the cTrader trading platform, a valuable tool for investors.
When it comes to the visual aspect of the two platforms, there is quite a noticeable difference between them. On the one hand, there is MT4 with its vintage design, closely reminiscent of Windows 98. cTrader looks sleeker and more modern with a variety of themes to choose from, which is a nice feature.
If we look back at the history of trading software development, we notice that MetaQuotes conquered the market with its product MetaTrader, which was developed in 2005 for reliability. To make it faster, with more memory and processor capacity, MetaTrader was rewritten from scratch, adding several features to the existing MetaQuotes trading platform.
Spotware's biggest challenge for cTrader was to fulfill the requirements for stable communication and fast order execution, which the company was able to meet. Spotware Systems first launched the platform in 2011, and since that moment it has been constantly updated and opened new opportunities for traders.
All you need to start trading is a computer with Internet access that meets the technical requirements so that you can make the best use of the trading platform. The question is: which trading platform to choose?
Forex traders use software that can be easily installed on all mobile devices and place trading orders. The most popular trading platforms today are MetaTrader and cTrader. Both resources have their pros and cons, so you should compare them before you start trading, which we will gladly help you with.
Optimal tariff for beginners
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Aller €2.48/1 mon.
Terminals: 1 pcs..
RAM: 1 GB
Storage: 3 GB
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Trinity €2.98/1 mon.
Terminals: 1 pcs..
RAM: 1 GB
Storage: 3 GB
Location: USA
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