There is no doubt that, from the beginning, the MetaTrader 4 platform has controlled the Forex trading room. In November 2016, MetaQuotes revealed that they would discontinue the MT4 platform, considering the sluggish launch of MT5, which was launched in 2010. The organization further reinforced its position in January 2018 by announcing that it would no longer issue new MetaTrader 4 licenses. At this stage, the Industry realized that their attempt to phase out MT4 was serious for MetaQuotes. MT4 is taken out of the chase by this exciting turn of events. We look at the general discrepancies between cTrader andMetaTrader 5 in this post.
Introduction to MT5
We are going to add MT5, which is a trading platform built by MetaQuotes, to begin this comparison of cTrader vs. MetaTrader 5. It was meant to be the replacement of the platform MetaTrader 4. MT4, though, was so firmly embedded in the field of online trading that not even MetaQuotes stood a chance to knock MT4 out of it. Forex and CFD brokers have begun to implement MT5, although it would appear steadily and reluctantly. The platform may not look so much different from MT4, but it is also different enough to disorient a veteran user of MT4. The app does not have too many added features, yet users are forced to reprogram their expert advisors for little benefit.
MetaTrader 5’s curiosity has recently spiked. The explanation for this was that a compatibility bug between MetaTrader 4 and the latest macOS Catalina was triggered by an Apple operating system upgrade for MacBooks. Since MetaQuotes would no longer follow MT4, MT4 users on Macs are likely to switch over to MT5 or look for a different framework.
Introduction to cTrader
With FxPro becoming the first broker to debut, cTrader was first launched in April 2011. Shortly after, IC Markets and Pepperstone followed in 2013. Countless improvements have been carried out over the years by Spotware (the organization that developed cTrader). Through delivering meaningful information focused on community reviews, the organization has proved itself to be quite trader-centric. In comparison, the organization tries to adopt its own trademarked Traders First policy.
Navigation of MetaTrader 5 vs cTrader
When it comes to architecture, MetaTrader 5 doesn’t vary much from MT4. The platform maintains the same linear architecture pattern of the Windows 98 style, and all configurations and functionality stay almost in the same position. Although this would be good for users transferring from MT4 to MT5, it begs the issue, if the platforms are too close, what would be the point of transitioning in the first place? You would assume that the GUI is built for an older demographic in mind, judging by the design style of MT5 and MT4.
Particularly as compared to MetaTrader 5, cTrader has a clean and modern GUI. While on both platforms, the chart components’ colors can be widely customized, cTrader provides a light and dark style. This can sound insignificant, but it has a significant effect on consumers in multiple settings.