Pepperstone - Best Broker for CTraderFind Out More

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Top 5 Best Brokers for cTrader

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Best cTrader Brokers

1. Pepperstone

Pepperstone is a well-established broker that was founded in 2010 in Melbourne.

With regulation by both ASIC and the FCA, it is considered a safe broker that works with cTrader, offering 62 forex pairs, as well as a number of CFD options.

Pepperstone has two different account types that work with cTrader – the Razor account charges commission, while the Standard account has fees built into the spread.

There are no account fees or charges for most deposits and withdrawals. The minimum deposit to open an account is $200, which is about the industry standard, and the account opening process is fast, easy and completely online.

For beginner traders, Pepperstone has a wealth of educational resources and offers both third-party and in-house research.

This is a well-regarded and safe broker with a great reputation that is a solid choice for traders who are looking to take advantage of the extended functionality of the cTrader platform.

Visit Pepperstone

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

2. FxPro

This UK-based broker was established in 2006 and is well-regulated by the FCA, CySEC, FSCA and SCB, which makes it a safer place for your money in almost all jurisdictions.

UK-based traders are also protected by the FSCS and can take advantage of negative balance protection. They are designed to be used with both cTrader and MetaTrader 4 and 5, as well as the proprietary platform FX Pro Edge.

Traders can buy and sell more than 1,700 CFDs, 70 currency pairs and 30 cryptocurrencies on FX Pro.

FX Pro has one of the largest research offerings of any of the brokers on this list, including fundamental analysis, an economic calendar and real-time news.

For traders who like to learn from videos, the FX Pro YouTube channel has research and educational video content that is designed to help beginners. However, there is no dedicated learning centre on the FX Pro website.

The customer service is a little more limited than with other brokers, but you can request a callback for telephone contact, and live chat and email support are available on weekdays.

In terms of fees, there are no costs associated with deposits and withdrawals, but there is a monthly inactivity fee of $5.

The cTrader account has a floating spread and commission of $4.50 per lot, whereas the Standard accounts that can be used with MT4, MT5 and the proprietary platform have no commission but higher spreads.

For a simple and straightforward cTrader experience with a fast account opening and low fees, FX Pro is a great option.

Visit FxPro

3. IC Markets

IC Markets is another Australian forex broker, established in 2007 and well-regulated by ASIC, CySEC and the FSA.

Considered one of the leading trading providers in Australia, IC Markets has 24/7 customer support and a minimum deposit of $200.

The only account that is available for use on IC Markets with cTrader is the True ECN, and with this, you will be charged $6 per lot commission, with spreads from 0.0.

The Standard account, which has no commission, is only available with MetaTrader.

IC Markets is primarily a forex broker, but you can also trade some CFDs. With more than 1,700 trading instruments available, there is a lot to choose from.

The beginner trader has access to a demo account, with educational videos on a Vimeo channel and articles to help them learn all about using IC Markets and trading.

The research available includes trading ideas and charting.

IC Markets has low fees and is easy to use, and with no inactivity fees and easy account opening, it is a great choice for a forex trader.

Visit IC Markets

4. Roboforex

Headquartered in Cyprus, RoboForex was established in 2009 and is regulated by CySEC and IFSC. With this broker, you can have access to almost 9,500 trading instruments with a minimum deposit of just $10.

RoboForex has full usability across the web, desktop and mobile platforms, and with good education and research available, it is an excellent choice for beginners.

With strategy-building tools and access to algorithmic trading on cTrader, users of the RoboForex brokerage can choose their own ways of making trades across a large number of instruments.

There are no fees for deposits and withdrawals, although there is a small inactivity fee, and there are no commission charges, so the trading fees are built into the spread.

One of the unique selling points of RoboForex is that, depending on your location, traders can get access to a huge range of leverage levels.

The low minimum deposit, bonuses for new customers and 24/7 access to email and phone support are some of the main reasons that new traders feel comfortable with RoboForex.

Visit Roboforex

5. FXTM

FXTM was founded in 2011 and is regulated by FCA and CySEC. With fast and fully digital account opening, a Micro account can be opened with only a $50 minimum deposit.

Traders can choose to open a Standard account to use the cTrader platform, with slightly higher spreads and zero commission, or the ECN account, which charges a small commission but gives access to much tighter spreads.

The user interface is simple and straightforward, with good customisation options and the ability to use several different order types, on the web platform, a desktop application or through the mobile app that is available on iOS and Android.

Some more advanced traders might find it a bit clunky and outdated.

In terms of education, there is a demo account as well as videos and articles, and new traders will find the glossary particularly useful.

Despite the limited portfolio of just 62 currency pairs and some 200 CFDs, this is a popular broker for its simplicity and the opportunity to work in small lots with the Micro account.

Visit FXTM

Top 5 Best Brokers for cTrader
Top 5 Best Brokers for cTrader

What Is a cTrader Broker?

A forex broker is a financial services provider that works as a third party or middleman allowing you as a trader to use trading platforms to buy and sell commodities and currency.

Using a broker, you can trade forex, cryptocurrency, CFDs, ETFs and commodities for investment purposes or to make money.

Forex brokers often provide extra services like education and research, allowing both experienced traders and those who are new to the platform to make the most of their trades.

This includes different strategies, the use of expert advisors and even things like social or copy trading.

cTrader is a trading platform that is considered to be intuitive and easy to use, with advanced trading capabilities.

It was designed to replicate a ‘proper’ institutional trading environment, with features like extended order functionality, depth of market, customisation options and the opportunity for coding in C# and through open API.

What Makes a Good Ctrader Broker?

Trustworthiness

When you make a deposit with a broker, you want to be sure that your money is safe while you are making trades.

The trustworthiness of a broker can be assessed in a couple of different ways, such as:

Reputation

This is a measure of how clients and customers view the broker, and you can get a feel for this by looking at consumer review sites.

Reputation also comes from how long the broker has been in business – a good broker can stand the test of time without risking the investments of their customers.

Regulation

As international financial services providers, brokers that are regulated have to follow certain rules when it comes to their clients and the management of money.

The more regulation that a broker has, the safer your money should be while you are using their services.

Not all regulators are considered equal, however, and it is important that the broker that you want to use is regulated by an authority based in the country that you reside in.

For example, in Australia, regulation is from ASIC, and in the UK, it is FCA that you need to look for. Top tier regulators also include CySEC and NFA.

Fees

The fees for using the broker are how the business makes money, and there are different types of fees to consider when looking at the right broker for you.

Some brokers will charge account fees. These are related to running and managing your account, and they can include a monthly fee, fees for making a deposit or a withdrawal and inactivity fees if you do not make any trades for a certain amount of time.

Trading fees are part of the cost of trading, and they usually come in the form of a flat rate commission – a set amount per trade over and above the buy price, or the fees are built into the spread, so you pay more per trade.

What Is the User Experience Like?

The user experience is something that is important for new and experienced traders.

Brokers provide an interface for you to use your chosen trading platform, and that interface needs to be simple to use and provide all the functionality that you want.

You will probably want the opportunity to use your broker and all the trading options in different ways, whether that is through a desktop application, a web trader or on a mobile device, so you can make and monitor your trades on the go.

Customer Service

Even experienced traders might need to contact customer services for a problem or an issue – so the availability of answers when you need them might be a consideration for you when you are choosing a broker.

Most brokers offer a range of ways of getting through to customer services, usually via live chat, over the phone or through email.

Availability of help will vary, with some brokers offering a 24/7 service, while others will only be available on weekdays, for example.

Do They Allow Your Preferred Type of Trading?

There are a number of strategies you could use for your trading, and as a new trader, it might all seem a bit daunting. But one of the things you should consider before settling on a broker is whether they offer options for different types of trading.

Some experienced traders are interested in high leverage, scalping, hedging or using expert advisors.

There are multitudes of different order types that you might want to take advantage of, too, so look for the types that might be available.

Frequently Asked Questions

cTrader is the platform that was created by Spotware to offer beginner and experienced traders an environment that replicates the professional or institutional trade floor, and with advanced order types, algorithmic trading and an intuitive interface, it is easy to use even with no experience.

For the beginner trader, there are educational support videos included, and more advanced traders can see more details about their trades thanks to the trade analysis feature.

cTrader offers a comprehensive range of trading instruments, including:

Traders can also make use of algorithmic trading, copy trading and several different order types when trading on all of the above.

MetaTrader 5 is the newer iteration of the MetaQuotes software MetaTrader 4, but despite the updated language and technology on the platform, MT5 hasn’t reached the same level of popularity.

Released at around the same time as MT5, cTrader offers a similar level of functionality, but there are some differences that might make it a preferred platform for the trader.

One of the major differences is that it uses the C# programming language, rather than MQL5, which is used on MetaTrader. It is also more modern-looking in design.

In terms of which is better, it mostly comes down to personal preference – MT4 users might feel more comfortable upgrading to the improved functionality of MT5 because the layout and structure of the platform have remained the same, while other users might like the slightly more updated look and feel of the cTrader interface.

Final Thoughts

Choosing the right broker to invest with could be one of the most important choices you make for your portfolio, and it is extremely important that you feel comfortable and confident in your choice.

Trading of any kind comes with an inherent financial risk: no trade is guaranteed to make a profit. Therefore, having the financial backing of a well-regulated and professional brokerage system should help.

Of course, the right broker will also allow you to make your trades in the way that you want to, whether you want the option for huge leverage or you prefer scalping.

A broker that allows you access to more than one platform is a good way to ensure that you can buy and sell the instruments that you want to in the way you think will maximise your profits and make the most of your portfolio.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.


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