FxPro offers four types of trading platforms: Metatrader 4, Metatrader 5, cTrader, and FxPro Platform. Which is the best for you?
FxPro has been in the business of providing forex and CFD trading services since 2006. Their expertise lies in offering a more personalized experience according to each trader's needs via a variety of offerings, including four types of trading platforms.
FxPro currently offers Metatrader 4, Metatrader 5, cTrader, and their own proprietary solution, the FxPro Platform. Which trading platform is the best? What are the differences between them? Let's dig in.
Metatrader4 (MT4)
Metatrader 4 pioneers the development of electronic trading platforms for retail users. Since its initial release by MetaQuotes Software in 2005, Metatrader 4 has grown to be the most popular trading platform for forex and CFD traders in the world.
Metatrader 4 is the first electronic trading platform for most retail traders today, and more than half of them will continue to use it for as long as they trade online. Why is Metatrader 4 so popular? Well, there are lots of reasons.
has numerous features, is relatively easy to use, customizable, secure, and requires minimal resources from your computer.
Here are some of the most important MT4 features:
- Three types of charts (line, bar, and candlestick).
- 30+ indicators, and we can add our own custom indicators.
- 4 types of pending orders: Buy Stop, Sell Stop, Buy Limit, Sell Limit.
- 9 time frames
- Price alerts via sound, email, and notification
- Autotrading via Expert Advisor (EA).
- Create your own indicator, script, or EA with the MT4-specific coding language, MQL4.
- Multiple chart setups are available.
As time goes on, MT4 features are no longer extraordinary because every platform will carry the same features and improve them with more advanced technology. However, MT4 never becomes obsolete.
Although lots of other platforms with more advanced features come and go, MT4 is still the most recommended trading platform. Beginners are advised to start with Metatrader 4 to familiarize themselves with trading terms and market dynamics without bothering with advanced features they don't need yet.
Metatrader5 (MT5)
Created by the same company that developed Metatrader 4, Metatrader 5 is the more advanced form of the latter and answers many more modern trader requirements.
What Metatrader 4 has, Metatrader 5 has. What Metatrader 4 does not have, Metatrader 5 does. These MT5-exclusive features include Depth of Market (DoM), 6 types of pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop, Sell Stop Limit, Buy Stop Limit), 21 time frames, an integrated economic calendar, and detachable charts.
More importantly, Metatrader 5 uses a different coding language --the MQL5. It means EAs, indicators, and scripts written for Metatrader 4 cannot be used in Metatrader 5, and vice versa. However, someone who is used to one of them will adapt more easily to the other.
FxPro MT4 users who want to step up their trading career can move to . Traders can offset MT4 limitations with shorter adaptation period by moving to MT5. Of course, beginners can also start trading with Metatrader 5 directly.
cTrader
cTrader is a new-generation trading platform created by Spotware Systems to cater to the needs of more mechanized trading. Few brokers offer cTrader today, but the number is rising each year.
You will surely be amazed by the variety of indicators and chart types available here, as they even have tick charts, renko charts, and range charts! cTrader also has its own coding language, C#, with which traders can create their own indicators, scripts, and cBots.
The most exclusive features of cTrader are the advanced order types. They have all of MT5's order types and more. Traders can set partial take profits, breakeven stop losses, and so on automatically through their advanced order forms. Traders no longer have to monitor their trades throughout the day.
Nevertheless, there are no roses without thorns. The weakness of FxPro cTrader lies in the relatively fewer asset classes available (note that asset availability may differ between brokers). Its interface is also relatively more sophisticated with lots of collapsible tabs and so it requires closer attention to details.
FxPro Platform
The FxPro Platform may be lacking compared to the more widely used trading terminals, but it is one of the best FX and CFD broker proprietary trading platforms in the industry. FxPro won the Best Trading Platform by Shares Awards in 2013, and then again in 2021.
Here are some of the most notable features of the FxPro Platform:
- Six types of charts (line, bar, candlestick, heiken ashi, HLC, and dots)
- 50+ indicators
- 4 types of pending orders
- 15 time frames
- Sentiment detector for major pairs
- Open and manage accounts, including deposits, transfers, and withdrawals.
If you are simply looking for a trading platform to trade manually, then FxPro Platform is the most suitable option. However, it lacks customizability. We cannot create custom indicators, scripts, or autotrading tools with the platform.
Ever since its establishment in 2006, FxPro has successfully expanded to serve retail and institutional clients in more than 170 countries. Their head office is in London, UK.
FxPro UK Limited is authorized and regulated by the FCA since 2010. Meanwhile, other subsidiaries such as FxPro Financial Services Limited is authorized and regulated by CySEC since 2007 and the FSCA since 2015. Because of that, traders do not need to worry again about their funds safety. As a strong proponent of transparency, it established the highest standards of safety for clients' funds, as the company chooses to keep the funds in major international banks, fully segregated from the company's funds.
They always try to provide transparent and ethical practices across the global trading industry. In 2018, 74.65% of market orders were executed at the requested price while 12.8% of the client's orders were executed with positive slippage. Also, only 1.4% of all instant orders received a requote with 0.72% of them receiving better price when executed.
The total number of trades in FxPro has increased from year to year. In 2018, the number of trades achieves 53.6 million. Based on trust from their clients, FxPro received awards as Most Trusted Forex Brand UK 2017 by Global Brands Magazine. Besides, they became the first broker to sponsor an F1 team in 2008. There are around 60 UK and International Awards which had been achieved by FxPro.
They are committed to create a dynamic environment that equips traders with all the necessary tools for their trading experience. Opening an account in FxPro grants access to more than 250 CFDs on 6 asset types, including forex, shares, spot indices, futures, spot metals, and spot energies. They want to provide their clients with access to top-tier liquidity and advanced trade execution with no dealing desk intervention. The average execution time is less than 11.06 millisecond with up to 7,000 orders executed per second. Those advantages enable traders to benefit from tight spreads and competitive pricing.
Furthermore, FxPro is recognized as an innovative broker. The company allows its clients to enjoy a wide range of trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge. Web-based versions and mobile applications are also available so that traders can access financial markets at any time and anywhere.
Traders can choose platforms according to their needs. Fans of MT4 is provided with instant execution and easy-to-use trading platform. In this account, leverage is up to 1:500 and spreads start from 1.6 pips without commissions.
If traders want to get experience with more modern technology, traders should choose FxPro MT5 Accounts. In this account, spreads start from 1.5 and leverage is up to 1:500 without commissions.
Another type of accounts is FxPro cTrader. It is suitable for traders who give priority to the speed of execution with the most restrictive spreads compared to other account types'. FxPro cTrader is a powerful trading platform offering the best available bid and ask prices, with orders filled in just milliseconds. The platform also provides Market Depth and trading analysis tools. In this account, spreads start only from 0.3 pips. But, traders have to pay commissions $45 per $1 million traded (upon opening and closing a position) in forex and metals.
The key difference between MetaTrader 4, MetaTrader 5, and cTrader lies in the range of the CFD products that are available. The MT4 platform gives traders a chance to open positions on all of the 6 asset classes, whereas the MT5 doesn't support shares, and cTrader doesn't support shares and futures.
Besides 3 types of platforms above, trading in FxPro also enables access to FxPro Edge. This platform offers clients a new way to trade the markets in the form of spreads betting.
Each broker has pros and cons, and FxPro is not an exception. Aside from the advantages as explained before, FxPro has a high minimum deposit. Also, there are not many types of payment and withdrawal methods available at FxPro. Some types of methods even require traders to pay fees. However, it is still important to note that clients can trade forex, shares, indices, metals, and energies, with limited risk account at no additional cost in Fxpro
Regardless of the advantages and disadvantages, FxPro can be traders' choice as one of the best brokers with sophisticated technology. The company is suitable for traders prepared to trade with funds starting from $500.
Which Platform is the Best?
Objectively speaking, MetaTrader 5 and cTrader are head-to-head for the richest features and most advanced tools. However, they may not be suitable for you.
Beginners are recommended to start with the FxPro Platform or Metatrader 4. Both will help you learn trading tools and market dynamics in a simpler environment. If you are sure that you understand all the mechanics, then you can try other platforms to find the one that is more attractive to you visually and the most suitable for your trading style.
Metatrader 5 contains lots more features than Metatrader 4 but with nearly identical interface. It may mean "great" or "confusing" for different traders. The choice is in your hand.
FxPro cTrader platform is more suitable for tech-savvy traders than novices, who won't even bother reading the manuals. It is the best option for traders who seek to improve their autotrading setup with more advanced technology, and those who seek excitement from coding better trading strategies. Those who have accumulated experience in other markets will also be able to navigate the platform easily.
Last but not least, FxPro Platform exceeds others in its capability to manage accounts directly in the platform. Other platforms are not so convenient, because you may have to log in to the client area through FxPro website to do the same actions.
Our advice: You would be better off staying with the FxPro Platform from beginner onward if you don't need autotrading, DoM, or tricky pending orders.
See the comprehensive platform comparison in the table below:
| Features | Metatrader 4 | Metatrader 5 | cTrader | FxPro Platform |
| 📈Chart types | line, bar, candlesticks | line, bar, candlesticks | line, bar, candlesticks, dots, tick charts, renko, range charts, HLC, heikin ashi | line, bar, candlestick, heiken ashi, HLC, and dots |
| 📊Indicators | 30+, custom indicators | 35+, custom indicators | 55+, custom indicators | 50+ |
| ⏳Pending orders | Buy Stop, Sell Stop, Buy Limit, Sell Limit | Buy Limit, Sell Limit, Buy Stop, Sell Stop, Sell Stop Limit, Buy Stop Limit | Buy Limit, Sell Limit, Buy Stop, Sell Stop, Sell Stop Limit, Buy Stop Limit, Advanced Take Profit & Stop Loss | Buy Stop, Sell Stop, Buy Limit, Sell Limit |
| 🕓Time frames | 9 | 21 | 26+ | 15 |
| ⏩Trailing stop | ✔️ | ✔️ | ✔️ | ❌ |
| One-click trading | ✔️ | ✔️ | ✔️ | ✔️ |
| 🔔Alerts | sound, email, and notification | sound, email, and notification | sounds, email, and notification | sounds |
| 🤖Autotrading | Expert Advisor (EA) | Expert Advisor (EA) | cBot | ❌ |
| 👩💻Coding language | MQL4 | MQL5 | C# | ❌ |
| Multiple chart setup | ✔️ | ✔️ | ✔️ | ✔️ |
| 🧲Detachable charts | ❌ | ✔️ | ✔️ | ✔️ |
| 🌐Depth of Market (DoM) | ❌ | ✔️ | ✔️ | ❌ |
| 🤑Sentiment indicator | ❌ | ❌ | ✔️ | available for majors only |
| Range of market | Forex, Futures, Indices, Shares, Metals, and Energy | Forex, Futures, Indices, Shares, Metals, and Energy | Forex, Indices, Metals, and Energy | Forex, Futures, Indices, Shares, Metals, and Energy |
| Account management | ❌ | ❌ | ❌ | ✔️ |
| Most suitable for | beginners, manual trading, automated trading | skilled traders, manual trading, automated trading | tech-savvy traders, experienced traders, manual trading, automated trading | beginners to skilled, manual trading |
FxPro is a leading forex and CFD broker since its establishment in 2006. The company is regulated by several top financial regulators including the UK's FCA to provide tradable instruments like oil, gold, currencies, and more CFDs with 70% lower spreads in the market.
5 Comments
Jun 9 2023
When it comes to beginners, it's crucial to consider factors like ease of use, educational resources, and overall beginner-friendliness. Among Metatrader 4, Metatrader 5, cTrader, and the FxPro Platform, which platform stands out as the best option for beginners? Are there specific features or functionalities that make one platform more beginner-friendly, helping newcomers grasp the fundamentals of trading more easily?
Furthermore, let's explore the notable differences between these platforms. How do they differ in terms of interface, charting capabilities, order types, and risk management tools?
And also, by taking into account the user experience, educational resources, and the unique features of each platform, beginners can make an informed decision and embark on their trading journey with confidence. So, which trading platform—Metatrader 4, Metatrader 5, cTrader, or the FxPro Platform—would be the ideal choice for beginners to kickstart their trading endeavors?
Jun 18 2023
@Maguire: Hey there! Let me explain in short ones. So, when it comes to choosing a trading platform for beginners, Metatrader 4 (MT4), Metatrader 5 (MT5), cTrader, and the FxPro Platform all have their strengths. MT4 is known for its user-friendly interface and educational resources, making it beginner-friendly. MT5 offers enhanced charting capabilities and advanced order types, catering to those who want to delve deeper into technical analysis. cTrader provides a sleek interface and customizable workspace, empowering beginners to personalize their trading experience. The FxPro Platform offers a clean design, comprehensive charting, and risk management tools. Each platform has its own benefits, and the choice depends on individual preferences and requirements. So, it is better for traders, inculde pro to exam and testing each platform to see which one is the best for them
Jun 28 2023
Hey there! I'm curious about the different chart types in FX Pro cTrader. As I know, there are 3 types of chart which are line, candle and also bar. But after read this article, I've known about line charts, bar charts, candlestick charts, dot charts, tick charts, renko charts, range charts, HLC charts, and Heikin Ashi charts too! So, Can you tell me more about these chart types? How do they visually represent price movements, and what kind of information do they provide to traders? I'd love to know which ones are commonly used and why.
Jun 29 2023
@Sanji: Absolutely! It's great that you're interested in exploring the various chart types available in FX Pro cTrader. Let's dive into each chart type and understand how they visually represent price movements and the kind of information they provide to traders.
Jun 30 2023
Metatrader 5 is said to offer a plethora of additional features compared to Metatrader 4, despite having a nearly identical interface. This abundance of features can be both exciting and overwhelming for different traders, leaving the choice between the two platforms in their hands. Could you please provide more insights into the standout features that one can expect from Metatrader 5? How do these features enhance the trading experience and cater to the diverse needs of traders? By delving deeper into the capabilities of Metatrader 5, I hope to gain a clearer understanding of its strengths and advantages over Metatrader 4, helping me make an informed decision about which platform suits my trading goals and preferences best.