Best Forex Brokers for the cTrader Platform

Everyone knows of the dominance of the MetaTrader platforms in forex, but some may not realize where this software falls short. cTrader is one of the best alternatives in this regard and is technically superior to a lot of platforms out there, despite being less utilized and only available with a handful of brokers. 

Where traders use other software packages mainly because of popularity, cTrader is all about performance, charting proficiency, and transparent no dealing desk execution. One should notice all these attributes as a theme among the cTrader brokers listed here, qualities that any trader ultimately wishes for.

Because there is only a limited selection in a cTrader brokers list, this article will provide five of the best names offering this software to their traders, why clients should use cTrader, and the methodology we’ve employed selecting the chosen brands.

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IC Markets

The ‘IC’ in IC Markets stands for ‘international capital,’ a befitting name for the broker since it’s all about international capital markets. IC Markets is a multi-regulated Australian CFD brokerage, with roots stretching as far back as 2007.

Like countless cTrader brokers, the brand prides itself on low spreads through their standard accounts or spreads on their zero spread account. Moreover, another noteworthy feature of IC Markets is that its clients can enjoy transparent liquidity with institutional-grade and lightning-quick execution. 

This is one of the reasons why IC Markets processes at least $1 trillion in trading volume for March 2021, one of the largest amongst brokers globally.

Read more about IC Markets in this review

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Pepperstone

Pepperstone is another well-known, multi-asset, and multi-licensed Australian brokerage firm, established in 2010. Over time, they’ve broadened their global footprint, having now offices in Cyprus, Germany, London, Dubai, and Nairobi, boasting regulations from these respective regions.

Pepperstone shares similarities with IC Markets being one of the most recognized cTrader brokers. Clients can enjoy their ‘razor account,’ an account with spreads starting from zero, incurring a commission of 0.0035% of the traded base currency for opened and closed orders. 

There are endless opportunities for funding and getting paid with Pepperstone, complimenting the extensive selection of instruments available for trade. If we consider their minimum deposit of $200, this broker is best for slightly more experienced traders with bigger disposable risk capital.

Read more about Pepperstone in this review

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OctaFX

Since being established in 2011, OctaFX has seen commendable year-on-year progress where they’ve opened more than 6.6 million accounts, executed more than 500 million trades, and served clients in more than 100 nations.

The brokerage is licensed by CySEC (Cyprus Securities & Exchange Commission) with headquarters in St. Vincent and the Grenadines. OctaFX boasts some of the tightest spreads in forex, as low as 0.6 pips on EUR/USD. This is one of the lowest for cTrader forex brokers.

As if this wasn’t enough, there are also no commissions on deposits, withdrawals, and even currency exchanges, unlike many other brokers. With diminished costs, clients can comfortably focus on what matters most, which is being profitable across the sufficient number of available tradable instruments.

Based on some of these offerings, OctaFX caters to all levels, from the new to the advanced trader.

Read more about OctaFX in this review

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RoboForex

RoboForex is one of the formidable Belize-based cTrader forex brokers with 11 years of existence in the industry. Hence, its operations are overseen by the primary Belizean financial regulator, the IFSC (International Financial Services Commission). Additionally, CySEC regulates its European subsidiary.

Being presently one of the official partners for BMW M Motorsport, the broker prides itself on high performance in a great deal of areas such as a wide selection of instruments, low trading costs, an excellent platform, suitable payment options, and responsive customer support.

RoboForex is suitable for all experience levels of clients, but beginners should be more interested since the minimum deposit on most of their accounts is a measly $10. 

Moreover, new clients can experience their trading conditions risk-free with a $30 welcome bonus, a promotion which they’ve been running for quite a while. Hence, RoboForex is one of the more beginner-friendly names in this entire cTrader brokers list.

Read more about RoboForex in this review

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FxPro

FXPro was one of the first brokers that cTrader partnered with. It is one of the world’s leading, award-winning forex brokers that have been in the game for 14 years. 

FXPro boasts multi-regulatory status to keep a solid reputation, a plethora of instruments to trade, low trading costs, and customer support that goes above and beyond. 

Putting transparency at the forefront, FXPro proudly claims no dealing desk intervention instead of being just another ECN/STP broker. They offer lightning-quick trade execution of fewer than 11 milliseconds with deep liquidity, which means drastically reduced chances for price re-quotes and slippage.

Interestingly, they have published stats from the year 2020 where 98.86% of orders through them had no re-quotes, 0.54% having better price fills, and 0.60% having negative price fills. Some of the many awards they’ve bagged throughout the years certainly exemplify their focus on execution.

Read more about FxPro in this review

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What is cTrader platform? 

cTrader is one of the leading, award-winning multi-asset trading platforms worldwide available in desktop and mobile versions. Cyprus-based software corporation, Software Systems, created this product.

The developers released cTrader in 2011, packing it with high-tech, sophisticated features using the C# programming language that has rivaled many of its competitors ever since, most notably MetaTrader. 

cTrader is also renowned for transparency as it only partners with ECN brokers, all of which are included in this list. With all these achievements in mind, it is no wonder over 50 brokers and over 1.5 million traders have traded with the platform since inception.

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Why should you trade with cTrader? (cTrader features) 

Even though only a handful of cTrader forex brokers exist, there are several compelling reasons why traders should consider this software package. One of the unique selling points of cTrader separating it from the rest is the developers created the platform to partner with STP/ECN brokers (Straight-Through Processing/Electronic Communications Network).

Millions of traders particularly favor this brokerage model because it decreases the chances of order manipulation, offers the best pricing and lightning-quick execution. For this reputation, many analysts consider cTrader to be one of the safest trading platforms.

Another unique feature of cTrader not found with other software is the level II market depth.

Such an attribute allows one to see the order flow of traders at particular price levels through the broker offering the platform, which is beneficial especially for short-term speculators.

Design-wise, cTrader is highly intuitive, boasting a minimalistic, less clunky yet sleek user interface complementing all of its advanced functionalities. 

Regarding the charting superiority, all the features one would expect with this software are amplified, e.g., 70+ built-in indicators, 26 time-frames, netting, multiple zoom levels, nine different chart types, advanced back-testing capabilities, and more.

cTrader is also quite responsive when executing positions, an essential element for any trader desiring the quickest order fill possible. This becomes even more crucial when placing multiple orders simultaneously, where delays can become an issue.

Overall, this software delivers in offering an immersive trading experience which could be a pleasant surprise for those who’ve used less superior platforms previously.

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How to choose cTrader broker 

The process of choosing any cTrader broker is the same for any brand offering any platform. Nonetheless, potential clients must follow logical selection criteria by observing the following: regulation, negative balance protection, execution model, trading costs, range of instruments, and range of support channels.

Regulation

This attribute is usually the first consideration for any brokerage firm. 

By and large, analysts consider the top-tier regulators in the industry to be CySEC, ASIC (Australian Securities and Investments Commission), FCA (Financial Conduct Authority), plus other trusted bodies from Europe, North America, and Australia.

Generally, traders should stay away from brokers solely regulated by organizations based in offshore nations like the Cayman Islands, the Bahamas, Bermuda, Belize, and Mauritius. 

The only exception is when the brand has been in business for at least five years, has a license from another recognized regulator, and boasts an impeccable reputation.

Negative balance protection

Although this attribute may seem insignificant, it’s still crucial given that forex is a highly leveraged market. Most brokers do provide such a feature, but it’s always beneficial to verify for certainty purposes.

Negative balance protection ensures one will not owe a broker due to a negative balance in the unlikely case they suffer a substantial loss trading the markets.

Execution model

We class brokers as ECN or market maker. No model is necessarily better than the other, and most brokerages may alternate with both. The importance of this point is more about the pros & cons and what traders typically expect from each.

For instance, with an ECN broker, we typically expect variable spreads, which might not be suitable for every trading strategy. Contrastingly, most market maker brokers can provide fixed spreads, which might be necessary for many traders. 

Almost all the time, ECN brokers permit all strategies, discretionary and automated, while market maker brokers often don’t allow scalping, hedging, and robots. These are a few examples of the differences between both execution models.

Trading costs: Regarding trading costs, potential customers must look at spreads, commissions, funding/withdrawing charges, and inactivity fees. Fortunately, virtually all cTrader brokers provide competitive spreads. 

For less traded instruments like exotics, we find notable discrepancies. Some accounts like zero spread typically incur a commission, which can also vary noticeably across the board.  With respect to swaps, this may not affect all traders, and it’s dependent on the traded pairs. 

However, there could still be differences amongst brokers worth noting.  For depositing and withdrawing, one will be mindful of the options they will choose and generally stick with brokers charging no or low fees in this respect. 

• Range of instruments: The standard is virtually all brokers offer the 28 combinations of the major and minor pairs. However, other brokerages might be pretty limited with exotics, which is an important consideration for some.

Furthermore, some traders might consider trading a non-forex instrument and probably prefer sticking with the same brand in the long run.

• Range of support channels: A broker with a responsive live chat function is necessary to ensure customers have their queries answered promptly. Though fewer companies are relying on telephone communication nowadays, it is still a helpful feature because of the human interaction.

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Who are cTrader Forex Brokers?

The ctrader platforms are a sophisticated web-based trading platform that is accessible to users in the USA and other countries. They are jam-packed with cutting-edge trading tools and features that give traders access to top-tier trading solutions.

 Financial services firms that provide access to these platforms are called “cTrader Forex Brokers.” Before they can grant access, they must fulfill stringent conditions, such as offering quick servers, safe networks, and adhering to all legal and compliance regulations. Additionally, they are expected to provide technical support, training, account management, and more.To offer their clients the best trading experience, “ctrader brokers” cultivate strong working connections with the cTrader Platform.

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Best cTrader Brokers is FXTM

The Best “cTrader broker” is FXTM, which provides access to more than 180 products, low pricing, and negative balance protection. HFTrading is still a wise option. CFDs, cryptocurrencies, indices, and commodities are just a few of the goods and services it provides.Spread betting, CFDs, and forex are a few of the conventional “brokers with ctrader” products. Other excellent cTrader brokers include FXCM, which offers fast execution, access to a wide variety of asset classes, and tight spreads; FXDD, which provides access to a large number of currency pairings; and IC Markets; which offers multiple accounts with tight spreads.

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Is cTrader good platform?

cTrader is one of the best scalping brokers; it is a cutting-edge ECN (Electronic Communication Network) trading platform with a concentration on forex. ECN forex brokers are recommended due to their enormous liquidity pools and lack of meddling with your deal. This shows that you can always execute trades at reasonable rates on the currency market with small spreads and short execution times.

A few helpful features for manual trading, automatic trading, market research, and copy trading solutions are available on this platform. It includes a user-friendly, adaptable workspace that is appropriate for various kinds of trading techniques. Many technical indicators are available in these charting tooltips to help you make well-informed trading selections.

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