WikiFX Review: After The Removal Of MT4/5|Alternative cTrader is Expected To Be The Biggest Winner!

In September, Apple abruptly removed MT4 and MT5 apps from the App Store, which undoubtedly had a huge impact on the contract for difference (CFD) market and the entire foreign exchange industry.

Although users who have already downloaded it can still use it, not being able to make subsequent updates is bound to cause a bad experience for existing users. New users can no longer download MT4 and MT5 applications through the App Store. At present, there is no other indication that MT4/5 will return to the shelves, WikiFX believes that users/investors can consider using some alternative trading platforms to replace the MT4 or MT5.

According to Finance Magnates Intelligence, MT4 and MT5 are the main trading platforms in the CFD market—more than 83.8%. In the meantime, the volume of transactions generated by mobile trading (56%) has exceeded the volume of transactions generated by desktop computers (44%). Therefore, the removal of MT4 and MT5 will lead to a huge gap, and it is particularly important to seek alternatives to MT4 and MT5.

According to a Finance Magnates survey, cTrader received 53 percent of the vote, far ahead of rivals such as MatchTrader and Leverate. More than 350 people participated in the survey, and most (53%) believe that Spotware's cTrader platform will be the best alternative to MT4 and MT5. The cTrader platform has been in development for many years and is ahead of the second-ranked MatchTrader (27%), Leverate (12%) and XOpenHub (8%).

Advantages of the cTrader platform

First of all, as an alternative to MT4 and MT5, cTrader differs from the MT4/5 product of MetaQuotes, the cTrader application is not disabled by Apple and is continuously available to investors/users in the App Store. The cTrader platform was created by Spotware and is still under development, and currently offers a PC version of cTrader in the form of desktop applications (Windows), Web applications, available in any web browser (Windows, Linux, MAC). The mobile app is available in iOS and Android mobile operating systems.

Includes almost all the major features of the smart platform and is available in 22 different languages, increasing the accessibility of an international customer base. As can be seen from the description on the platform's website, its mission is to find a balance between ease of use and advanced and comprehensive features so that both experienced traders and novice traders can use it.

Suitable for all trading styles. Because the cTrader trading platform is designed and displayed by the traders themselves, entering trading orders is both flexible and intuitive, meeting both the needs of speed scalpers and the needs of traders who carefully plan positions.

The ability to carry out accurate risk management and calculate the correct trading position size is the basis for proper risk management. Using the cTrader trading platform, users/investors can determine the pip, margin and commission of each trading position entered, use the trailing stop function to better manage risk, and truly take risk management into their own hands.

Well-established fundamental analysis, integrated economic calendars, market depth indicators or market sentiment indicators are just a few of the many tools that will make your fundamental trading more efficient and precise. The built-in economic calendar brings an uninterrupted flow of information, a perfect overview of liquidity using the Depth of Market indicator, and at-a-glance market psychoanalysis with the help of market sentiment indicators.

Better chart direction, by combining a library of technical analysis tools (crowned with an unrivalled multi-function tool for market scanners) with a wide range of graphical features and chart layout options, users/investors can finally get the most out of their trades. In addition, cTrader has highly customizable charting and workspace options and a rich set of charting and technical analysis tools covering a wide range of algorithmic indicators.

Free demo use indefinitely, all features of the cTrader trading platform are also available on a free demo account. This gives the user/investor the opportunity to connect to the real market without risking actual funds and is completely free and indefinitely available to the user/investor.

Offering an automated editor, this extension of the cTrader trading platform is compatible with the C# and .NET frameworks, and thanks to its built-in code editor and countless backtesting functions, it will make it easier for users/investors to program, backtest and run the work of the automated trading system. In addition, Spotware, the developer of the cTrader platform, also provided a complete manual.

Click → (https://help.ctrader.com/ctrader-automate/) for details

Perhaps it is precisely because the cTrader platform has the above perfect functions and intimate service. FxPro、IC Markets、Pepperstone、Skilling、Fondex、Axiory Global、FXPrimus、 Good brokers such as Multibank have adopted cTrader as one of their trading solutions.

Finally, WikiFX would like to say that what suits you is the best, and investors should always conduct their own research to find an alternative to the MT4/5 platform that best suits your personal trading style and goals.

Choosing a good trading software can help you do a good deal. And choose a good platform, in order to invest with peace of mind! In the face of thousands of true and false platforms, investors who are slightly careless can easily be deceived. As a globalized corporate financial information query tool, WikiFX is known as the “Wikipedia in the foreign exchange industry”. Currently, the number of traders included in WikiFX exceeds 39,000, and 11 languages are supported. In addition to providing basic information inquiry, regulatory license inquiry, credit evaluation, platform identification and other services for the included foreign exchange trading platforms, there are also many functions such as exposure, mediation, scam brokers review, investment information, etc., and investors can therefore understand the foreign exchange industry better. It allows investors to easily identify the reliability of the platform!