#CONVERT MQ4 TO CTRADER UPGRADE#
#CONVERT MQ4 TO CTRADER FULL#
#CONVERT MQ4 TO CTRADER SOFTWARE#

There has been an entire sub industry that has sprouted up around EAs, with programmers building, licensing/selling them through various websites and Metaquotes own ecommerce market. MT4 coined the term Expert Advisor (EA), which simply means automated trading algorithms. MT4 вЂ“ Custom Indicators and Expert Advisors Spotware did this when building the cTrader platform. Any competitors to MT4 that wanted to attract algorithmic traders would need to have to offer an equally accessible and easy to use customer programming suite. One of the main reasons the MT4 platform has experienced such a long reign as the leading Forex platform is due to the ease with which traders can custom program their own indicators and algorithms via the MQL4 coding language and their built-in strategy tester. An example of how this tool appears on the cTrader platform can see been below. The drawback is that not nearly as many Forex brokers offer cTrader as a platform option. Overall, when it comes to Market Depth, cTrader is the better, more functional option. Additionally, traders have the option of doing a VWAPВ (volume weighted average price) view, which will show the average price for a given trade size, which can be very useful if a trader trades in large size.

#CONVERT MQ4 TO CTRADER FULL#

In fact, the cTrader platform shows a full depth of bids and offers and the available quantities at each price. As a result they understood the demand that existed for a Market Depth, and they developed a highly sophisticated Market Depth tool that is at the core of the trading platform. MT4 Market DepthД¬Trader was fortunate to enter the Forex platform provider space much later than MT4.

An example of how this tool appears on the MT4 platform can see been below. This essentially renders the Market Depth feature on the MT4 platform useless. Even then, however, most brokers did not fully implement the tool into their platform because it requires third party plugins to allow data to be displayed.

#CONVERT MQ4 TO CTRADER UPGRADE#

It was only after years of requests did MetaquotesВ finally upgrade their platform to include Market Depth. Traders trading on this platform only saw the best bid/offer price, but no information regarding the quantity available at that price was available. When the MT4 platform was initially released it did not contain a Market Depth feature. For Forex traders, however, this information can be useful, especially for traders trading in large size. In an over-the-counter market like Forex, Market Depth is not something readily available as there is no centralized exchange where all orders are sent. In on-exchange markets, Market Depth is available on any Level II screen, where all tradersвЂ™ bids and offers are displayed for market participants to see. Market Depth provides traders with key information regarding the quantity of buy and sell quotes at different price levels. cTrader вЂ“ in-depth comparisonДЄ feature that increasingly sought after by retail Forex traders is Market Depth or Depth of Market. There are many reasons for this and in this article, we explore the similarities and key differentiators between these two leading Forex trading platforms. The cTrader platform was launched in 2011 by SpotwareВ and has gained a considerable market share. Over the years, there have been many rivals to MT4, most notably the cTrader platform, which has proven to be a formidable opponent. Even though MT4 is over 12 years old, and Metaquotes has released its newest trading platform, MT5, many FX traders prefer sticking with what is familiar.

#CONVERT MQ4 TO CTRADER SOFTWARE#

This is due in large part due to its ease of use, continual software improvements that have helped improve the overall functionality over the years and customization, which allows traders to easily create their own custom indicators and algorithms.

Several estimates suggest that between 70-80% of all retail Forex traders use this trading platform. cTrader вЂ“ Which Forex Trading Platform is Better?ДЇrom the time the MetaTrader 4 (or MT4) platformВ was initially launched in 2005 it has the dominated retail Forex industry as the preferred FX trading platform.

Convert mq4 to ctrader