AuthorBy Jeffrey Cammack
Updated: March 20, 2021

First introduced in 2011, the cTrader platform has become popular enough to rival other platforms like MT4 and MT5 thanks to a contemporary layout, advanced order protection, depth of market indicator, advanced charting and timeframe options. While MT4 and MT5 are well supported by market maker brokers, cTrader is only supported by ECN brokers, and as ECN execution becomes more popular with the trading community, cTrader is seeing increased demand.

To test these brokers, we applied for a live trading account, downloaded and installed cTrader and cTrader mobile, and tested unique functionalities and trading flows. Besides testing highlights unique to cTrader like the built-in copy trading feature, we reviewed trading execution speeds, the range of instruments available, and the trading costs a client should expect. These are the best cTrader brokers for 2021, according to our testing and our research.

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cTrader Forex Brokers 2021

Last updated on 20 Mar 2021
Updated 20 Mar 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
Pepperstone
Min. Deposit
USD 200
4.514.51
Min. Spread
0 pips
Trading Platforms
Fx Pairs
80+
Overall Rating
11110.54.51/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.
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Pepperstone is a multi-regulated CFD broker offering ECN trading on Forex, indices, commodities and shares. The beginner and professional trading community admire this Australian broker for their wide trading platform selection including cTrader, MT4 and MT5 and highly industry competitive trading conditions despite a limited selection of tradable products and slightly unimpressive market research.

The cTrader platform, while not the most popular in the world because of limited broker support, is one of the most powerful trading tools available to the retail trader. This cTrader platform, in addition to the MT4 & MT5 choice, combined with remarkably tight spreads (EURUSD – 0.09 pips) on the Razor account, is perfectly suited for the professional or serious amateur trader. For the beginner, the standard account with reasonable trading fees (EURUSD – 1 pip), and the structured education offering will provide a strong base for success. Nevertheless, while some withdrawal methods charge a small fee, it is hard to find fault with Pepperstone and their trading solution.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • High minimum deposit
  • Limited market analysis
Read More About Pepperstone
2
FxPro
Min. Deposit
USD 100
4.214.21
Min. Spread
0.60 pips
Trading Platforms
Fx Pairs
70+
Overall Rating
11110.54.21/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA
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FxPro is one of the most respected Forex brokers in the industry. Regulated by the FCA and CySEC and with over 870,000 client accounts in 173 countries, FxPro is a truly global powerhouse.

FxPro offers a no dealing desk execution model on MT4, MT5, cTrader and a browser-based platform. A reasonable 100 USD opening deposit and outstanding customer service are combined with competitive spreads – often as low as 0.6 pips – to match profitability with security.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
Read More About FxPro
3
IC Markets
Min. Deposit
USD 200
4.464.46
Min. Spread
0.10 pips
Trading Platforms
Fx Pairs
60
Overall Rating
11110.54.46/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.00 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
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IC Markets is an Australian broker offering CFD trading on Forex, commodities, indices, bonds, cryptocurrencies, stocks, and futures. Compared to other ECN brokers, IC Markets has low trading costs, fast execution, and wide trading platform support – with MT4, MT5 and cTrader all available.

IC Markets caters to advanced traders with periodic strategy webinars, advanced analysis tools and a free VPS service for active traders. But – despite its focus on providing great trading conditions – IC Markets fails to deliver a structured course for beginners and Forex education in general is weaker than IC Market’s competitors.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
Read More About IC Markets
4
Skilling
Min. Deposit
EUR 100
3.823.82
Min. Spread
0.70 pips
Trading Platforms
Fx Pairs
70
Overall Rating
1110.503.82/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.40 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 and cTrader platforms supported. Skilling is regulated by CySEC and the FSA-Seychelles.
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Founded in 2018, Skilling is a CFD broker offering excellent trading conditions on Forex, crypto, indices, commodities and over 700 equities. With two simple account types, Skilling supports MT4, cTrader and its own trading platform which integrates directly with cTrader – an industry first. Compared to other market makers, Skilling offers very tight spreads – starting at 0.7 pips on its commission-free Standard Account.

Regulated by CySEC in Europe, Skilling is also regulated by the Seychelles FSA for customers in the rest of the world. Beginner traders will be disappointed to know that Skilling’s Forex education and market analysis are almost completely absent.  

Pros
  • Copy trading accounts
Cons
  • No swap-free account option
Read More About Skilling
5
Fibo Group
Min. Deposit
USD 5
4.004.00
Min. Spread
0.20 pips
Trading Platforms
Fx Pairs
60+
Overall Rating
11110.54.00/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.30 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4, MT5 & cTrader platforms supported. FIBO Group is regulated by CySEC and BVI FSC.
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Founded in 1998, FIBO Group is a CySEC-regulated, NDD broker with 6 different account types and full support for MT4, MT5 and cTrader. Beginners will like the MT4 Cent Account with its tight spreads and tiny minimum deposit while professional traders will be tempted by the MT5 and cTrader accounts, which feature some of the best trading conditions available. Commissions are competitive with other NDD brokers and the minimum deposit on most accounts is only 50 USD.

On the downside, education and market analysis are basic, FSC BVI and CySEC regulation are the bare minima of what is considered acceptable by way of oversight, and withdrawals are slow and expensive. 

Pros
  • Great platform choice
  • Low minimum deposit
Cons
  • Limited education
Read More About Fibo Group
6
OctaFX
Min. Deposit
USD 50
3.603.60
Min. Spread
0 pips
Trading Platforms
Fx Pairs
28
Overall Rating
1110.503.60/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 and cTrader platforms supported. OctaFX is regulated by CySEC.
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OctaFX is a CySEC regulated STP/ECN broker founded in 2011 that will appeal to all Forex traders, both beginners and professionals.  They have an excellent analytical section and offer a range of useful trading tools such as AutoChartist, copy trading and an account monitoring service so you can learn anonymously from other successful traders.

Trader education for beginners is well-presented and a generous bonus scheme exists for new deposits; platform support is almost unbeatable, with MT4, MT5 and cTrader all offered – but platforms are linked to account type and trading conditions.

Pros
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
Cons
  • Limited education
  • Restrictive account types
Read More About OctaFX
7
IFC Markets
Min. Deposit
USD 5
3.603.60
Min. Spread
0.40 pips
Trading Platforms
Fx Pairs
49
Overall Rating
1110.503.60/ 5
AlertMost retail CFD accounts lose money. Your capital is at risk.
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IFC Markets is Cypriot Forex broker with regulation from the British Virgin Islands, which is a strange setup – as most Cypriot Forex brokers are regulated by CySEC. Why IFC Markets is not regulated by CySEC is unclear, though its sister company has held CySEC regulation since 2011.

It offers two simple account types, one with a very low minimum deposit is expressly aimed at beginners, and traders can choose between fixed or floating spreads; fixed spreads start from 1.8 pips while floating spreads can get as low as 0.4 pips. IFC supports both MT4 and MT5 as well as its own NetTradeX trading platform and provides a good amount of education and market analysis for new traders. 

Pros
  • Great platform choice
  • Wide range of assets
  • Low minimum deposit
Cons
  • Slow withdrawals
  • Poorly regulated
Read More About IFC Markets
8
Fondex
Min. Deposit
USD 5
4.144.14
Min. Spread
0 pips
Trading Platforms
Fx Pairs
80
Overall Rating
11110.54.14/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.28 pips with 5 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. cTrader platform supported. Fondex is regulated by the CySEC, and the FSA-Seychelles.
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Founded in 2011, Fondex is a cTrader-only broker based in Cyprus and regulated by CySEC and the Seychelles FSA. Spreads are variable and tight, sometimes down 0 pips on the EUR/USD, and Fondex charges a low commission of 2.5 USD per lot traded. Education and market analysis are thin, but deposits and withdrawals are fast and free and customer service is available 24/5 in multiple languages.

While the single platform choice will disappoint many traders, cTrader offers a powerful and feature-rich alternative to MetaTrader’s platforms, with a built-in copy trading function and advanced automation tools.  

 

Pros
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
  • Innovative trading tools
Cons
  • Limited demo account
  • Limited account options
Read More About Fondex

cTrader Platforms

cTrader offers three versions of its trading platform and while the same indicators, objects, layouts and themes are present across all three versions, there are minor changes to functionality:

cTrader Download: The desktop version is the most feature-complete version of cTrader, download the application for any Windows PC or laptop. Unfortunately, for Mac users, there is no native application and you will have to rely on cTrader Web or create a system partition to run Windows applications. It’s important to note that cTrader Copy will only run in the Web version,

cTrader Web: The cTrader Web version is almost as feature-complete as the desktop version except for a few changes. Charts are locked, so they cannot move up and down and cTrader Automate is unavailable.

cTrader Mobile: Available on iOS and Android, the cTrader mobile app is perfect for traders on the go and has 26 timeframes and over 50 indicators available. Charts have been redesigned for mobile with features such as pinch-to-zoom, fling to scroll forward or backwards, and double-tap to re-centre.

What is cTrader?

Before we launch into a discussion of cTrader, I want to mention a little-known fact: 35% more cTrader users are profitable compared to the industry average. This amazing statistic comes from Spotware’s internal calculations and highlights why cTrader has become MetaTrader’s main competitor. But what is it about cTrader that makes traders more profitable?

How is cTrader different?

Unlike MetaTrader and most other broker-owned platforms, cTrader only functions as an ECN (Electronic Communication Network) platform. This means that it will only connect traders direct to the global Forex market and won’t allow for any dealing desk intervention, whether automated or not. This is because all the infrastructure behind cTrader is managed by Spotware themselves and the interface you download from your broker, is just that, an interface. The broker can alter commission and spreads, but the price feed and market data cannot be modified.

It’s important to note that because cTrader is an ECN only platform, traders will invariably have to pay a commission on their trades when using it. Because cTrader posts trades to market, brokers do not have an opportunity to charge a fee in the spread and will always charge a commission instead for their service.

Because cTrader’s infrastructure is managed by Spotware, the cTrader ID you receive when you first log in to the application will never change. This is especially useful as you won’t have to remember new passwords or account numbers, even if you change brokers.

cTrader is also offered to brokers on a platform-as-a-service basis and brokers pay Spotware based on volume traded, meaning that the more traders succeed with cTrader, the more Spotware profits. The result is that Spotware has a real incentive to provide traders with the best chance to trade profitably.

These differences are all enshrined in Spotware’s founding motto: Trader’s First. This guiding mindset has led Spotware to not only ensure that cTrader is an intervention-free platform but also forced them to make transparency and community focus an integral part of cTrader’s business model.

cTrader Forum

The cTrader forum is a place for all cTrader users to post suggestions to the developers for new features for the platform, get support from the community and stay on top of any product announcements and other news. Spotware continuously improves the cTrader with enhancements stemming mostly from community feedback, this regular interaction with traders results in several platform updates and upgrades a year.

cTrader ID Site

The cTrader ID Site is a personalised toolbox for anyone holding a cTrader ID and provides traders with several tools to control their accounts and connect to other traders, apps, and resources.

Standout features include:

  • Credential management: traders can view a list of demo and live trading accounts they own with each broker under the same cTrader ID.
  • Push Notifications: Traders can alter email and mobile push notifications regarding changes and events on their trading accounts.
  • Security: Allows traders to view and revoke active sessions and control which devices are authorised to use cTrader.

cTrader vs MT4

Advocates of cTrader will tell you that it is more beginner-friendly than MT4 and offers high-speed execution with a cleaner user interface. Those who have used both platforms will probably agree with this statement, but in the interest of balance, here are some of the main advantages and disadvantages

cTrader Advantages

  • Your platform needn’t be open and connected to your broker to keep a trailing stop loss functioning like with MT4.
  • The ‘Depth of Market’ function is easier to use (colour-coded and different profiles available) than MT4’s.
  • cTrader has several features that make the platform more user-friendly than MT4. For example, on the right side the chart there is a distance scale in pips (e.g. 50 pips). This is useful for beginners because it gives them an idea of what 50 pips looks like without having to use the crosshair tool to take measurements.
  • cTrader’s data sets (for backtesting trading robots) are more complete than MT4’s and support real tick data backtesting. MT4 often doesn’t have real tick data available.
  • cTrader’s crosshair tool measures pips while MT4 measures points. This makes it easier to make measurements, especially for a beginner. If you measure 50 pips with cTrader, you see 50. If you measure with MT4, you see 500.
  • cTrader has a built-in copy trading feature.
  • cTrader has a FIX API and its coding language is more versatile than MQL4. The FIX API allows for total portfolio management with a trading bot. For example, a trader could perform cross-instrument trading with a statistical arbitrage robot. This type of trading is not possible with MT4 because each EA only performs calculations on one chart window at a time.

cTrader Disadvantages

  • The minimum lot sizing on some stock index CFDs (e.g. GER30) are inconsistent with forex pairs and some other stock indices.
  • Frequent updates can cause delays when you open the platform, this can be problem if you need to manage a position urgently from your desktop.
  • The MT4 community is much larger than that of cTrader. On the MT4 platform, you can access thousands of EAs and online forums have much more information

Should I choose cTrader?

cTrader is a welcome alternative for traders who want a cross-broker trading platform, that has a reputation for transparency, rapid product development and high-speed trade execution.

With clear improvements in trade management and visual aesthetics in comparison to MetaTrader 4, traders who trade with cTrader tend to stick with the choice.

Because cTrader does not support market maker brokers, it will never be an industry standard, but for those willing to pay commission on trades it is a great platform choice.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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