6  Best cTrader Brokers in Uganda 2024

How to compare cTrader brokers

Traders looking specifically for a broker that supports cTrader will be looking for a modern platform that goes beyond the MetaTrader product line. cTrader has many advantages over other trading platforms, and although only a few brokers support it, there is still a good selection of reputable brokers to choose from. When comparing cTrader brokers, consider:

Trading costs: Since cTrader only operates with direct market access brokers (ECNs), trading costs will almost always be a combination of the spread cost and the commission per lot. We estimate the trading cost by calculating the cost of trading 1 lot of EURUSD with the smallest account available, including both spread and commission. This figure will give a trader insight into the costs charged.

Trade execution speed: cTrader can open and close positions very quickly, but the broker’s technological infrastructure will also play a big role. If a trader is interested in scalping, where trades are opened and closed very quickly in highly volatile markets, then trade execution speed needs to be as fast as possible. 

Regulation: Regulation ensures the security of your funds. While some cTrader brokers are well-known industry brands – like FxPro, IC Markets and Pepperstone – others are either unregulated or offer very weak regulation that does not provide adequate trader protection. Always check that your broker is regulated sufficiently as a part of the comparison process.

What is cTrader?

cTrader is an institutional-grade trading platform offered by a few Forex brokers.  Launched in 2011, cTrader is more beginner-friendly than the competing MetaTrader platforms (MT4 and MT5) and offers high-speed execution with a cleaner user interface.

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.

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 from MT4 and MT5?

Unlike MT4 and MT5, cTrader started life as ECN (Electronic Communication Network) platform and traders will usually have to pay a commission on their trades when using it.

This means that it connected traders direct to the global Forex market and didn’t allow for any dealing desk intervention, whether automated or not. While cTrader can now be used by market makers, all the infrastructure behind cTrader is still 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 or manipulated. Because of cTrader’s history as an ECN-only platform, most cTrader brokers do not have an opportunity to charge a fee in the spread and will 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 not only to 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

What are the advantages of using cTrader?

• 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 of 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.

What are the disadvantages of using cTrader?

• 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

Which is the best cTrader Broker?

FxPro is the best cTrader broker. FxPro’s cTrader account has a 100 USD minimum deposit and tight spreads on 70+ Forex pairs, indices, metals, and energies. The cTrader account at FxPro offers no requotes and will allow for partial fills for orders that lack liquidity. FxPro offers a range of technical analysis indicators from Trading Central for cTrader as well as the pre-existing cTrader Automate.

Which brokers offer cTrader?

Pepperstone, IC Markets, FxPro, Fondex, FiboGroup and Skilling,

All cTrader Brokers 

Here is our curated list of all of the regulated cTrader brokers we have reviewed, ordered by overall score. The broker with the highest score will appear at the top of the list.

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Broker	Broker Score	Platforms	Regulators	Min. Deposit	Cost of Trading	Trading Commission	Scalping	Hedging	No. of FX Pairs	Compare	Official Site
	4.61 /5 Read Review	MT4, MT5, cTrader, TradingView		USD 0	USD 10	From 7 USD / lot - Razor Account	Yes	Yes	100		Visit Broker > 89%74- of retail CFD accounts lose money
	4.56 /5 Read Review	MT4, MT5, cTrader, TradingView		USD 200	USD 8	7 USD / lot - Raw Spread Account	Yes	Yes	64		Visit Broker > 70.81% of retail CFD accounts lose money
	4.40 /5 Read Review	MT4, MT5, cTrader, IRESS		AUD 100	USD 7	6 USD / lot - RAW Accounts	Yes	Yes	70		Visit Broker > 79% of retail CFD accounts lose money
	4.39 /5 Read Review	MT4, MT5, cTrader, FxProEdge		USD 100	USD 14	9 USD / lot	Yes	Yes	70		Visit Broker > 71.58% of retail CFD accounts lose money
	4.37 /5 Read Review	MT4, cTrader, Skilling Trader		EUR 100	USD 7	6 USD round turn commission	Yes	Yes	73		Visit Broker > 71% of retail CFD accounts lose money
	4.33 /5 Read Review	MT4, MT5, cTrader		USD 0	USD 4.50	4.5 AUD / lot (EUR/USD)	Yes	Yes	85		Visit Broker > 89% of retail CFD accounts lose money
	4.24 /5 Read Review	cTrader		USD 1	USD 7.80	None	Yes	Yes	80		Visit Broker > 83.57% of retail CFD accounts lose money
	3.99 /5 Read Review	cTrader, MT4, MT5		USD 10	USD 8	6 USD / lot	Yes	Yes	62		Visit Broker > N/A of retail CFD accounts lose money
	3.87 /5 Read Review	MT4, MT5, cTrader		USD 50	USD 14	3 USD / lot	No	Yes	50		Visit Broker > N/A of retail CFD accounts lose money
	3.61 /5 Read Review	MT4, MT5, cTrader		USD 0	USD 13	7 USD / lot - Zero Account	Yes	Yes	48		Visit Broker > N/A of retail CFD accounts lose money
	3.60 /5 Read Review	MT4, MT5, cTrader		USD 0	USD 6	6 USD / lot	Yes	Yes	43		Visit Broker > 58% of retail CFD accounts lose money
	2.85 /5 Read Review	MT4, MT5, cTrader		USD 5	USD 5	6 USD / lot - ECN Account	Yes	Yes	38		Visit Broker > of retail CFD accounts lose money

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: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. 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 about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).

Our Rating & Review Methodology

Our State of the Market Report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.