Comparing WL cTrader and MetaTrader 5 Full License
04.11.2022
Truth be told, both trading platforms are good, reliable, error-free, and stable. Both platforms are professional and time-tested. They offer a number of useful tools, including charts, indicators, and the ability to develop custom plugins. So when comparing trading characteristics or pricing, we only aim to highlight the most significant differences between the platforms to facilitate your research and simplify your choice.
Besides, we will compare WL cTrader and MetaTrader 5 Full License specifically, because WL on cTrader is much more popular than Full License. Since October 2022, it has become very difficult to buy a WL MetaTrader 4/5, so it is much easier to get a Full License from MetaQuotes.
MetaTrader 5 Full License vs WL cTrader
MetaTrader 5 Full License |
White Label cTrader |
|
Setup fee |
5,000 |
1,000 |
Monthly fee |
5,000 |
1,000 |
UpTrader monthly maintenance fee |
2,000 |
Volume fees, from $1000 |
A-Book/B-Book Settings |
Groups level |
Symbol of the Group Level |
Markup Settings |
Symbols level |
Symbol of the Group Level
|
Duplicate/transfer Settings |
no |
yes
|
Configurable dynamic |
yes |
yes |
Dynamic Leverage |
no |
yes |
commissions Trade Report |
yes |
yes |
Number of accounts |
limited (pay for extra) |
unlimited |
Number of symbols |
unlimited |
unlimited |
Inactivity Fees
|
no |
yes |
Swap Free Account Admin Fees |
no |
yes |
Integrated Copy Trading System Accounts |
no |
yes |
Advanced take profit/stop loss levels
|
no |
yes |
Integrated IB Programme |
no |
yes |
Server and Scalability Issues |
on the broker’s side
|
fully managed by Spotware
|
Proxy Cloud for Global Low-Latency Connectivity |
no |
yes |
Charts |
3 types of charts, 21 time frames, and 38 built-in technical indicators |
9 types of charts, 54 time frames, and 70 built-in technical indicators |
Compliance |
hard |
easy |
Transparency is the key difference
The platforms are still different and the key difference between them is in the transparency of order execution. cTrader's policy is focused on keeping order execution transparency under their control. They keep execution records and allow traders to view these records. It is not possible to manipulate prices because they prevent users from editing the databases. Order execution in MetaQuotes is not transparent, so along with the way the platform is set up, there is more room for manipulation, which scammers can take advantage of. In this case, MetaQuotes shows the brokers the door.
Compliance
Another key difference between the platforms is the compliance process. Since cTrader controls the brokerage activity within the platform itself, including both the recording of trades and order execution transparency, they can welcome anyone because they do not risk anything. MetaQuotes, on the contrary, tries to find out whether the broker is reliable or not before the purchase goes through. Their compliance process requires customers to have the correct jurisdiction, bank accounts, and so on. This information should already indirectly confirm that the company is going to operate within the bounds of the law. Incidentally, because MetaQuotes pays such close attention to compliance, it has become virtually impossible to buy their White Label. In case of White Label, they do not know to whom they are selling the terminal rights. In case of a full license, MetaQuotes is calm since they have all the broker’s details.
Interface
The platforms have different design. At first glance, MetaTrader 5 looks outdated, they only have the light theme which does not change, the charts look complicated.
cTrader’s interface looks more clear and modern. In addition, cTrader offers two themes: dark and light, which is very popular with users. At the same time, cTrader and MetaTrader are fairly similar in terms of the interface. Its graphical features, account management tools, testing capabilities, and technical indicators easily compete with those from MetaTrader.
Charts
The way users can interact with charts is different. For example, to change chart settings in MT5, you need to select the active chart and then make changes to the settings. In cTrader, each chart has its own toolbar, making it easier to manage the charts. Both platforms are generously stocked with indicators. The MT5 has more tools for technical analysis, such as Fibonacci, Gann, and Channel tools. cTrader, on the other hand, has other advantages such as charts that you can extend across several monitors.
In addition, cTrader offers more time frames and the possibility to display ticks on the main chart where you can use indicators and different types of charts, and not only a line chart in the Market Watch section as in MT5.
A-book, B-book.
Both platforms support both types of execution. However, since the possibility to manipulate trades in cTrader is limited, ECN/STP brokers choose it more often, while B-brokers prefer MT5. This is an important difference between the platforms that often makes brokers choose MetaTrader. Nevertheless, this does not mean at all that a B-broker on MT plans to manipulate data. MT has much wider possibilities for writing plugins and a huge market where you can buy ready-made plugins. In cTrader, there is no market and no possibility to write anything without their Software team. Of course, many companies do not like this and are therefore more inclined to choose MT. Moreover, MT offers both A-book and B-book, and the honesty of their work can be confirmed by modern tech escrow intermediaries. Wiring their money through them gives traders a guarantee that it will be received. This is how Serenity Escrow works, for example.
Serenity Escrow
Serenity Escrow is an intermediary between a broker and a trader. Escrow uses blockchain technologies and works through smart contract. Blockchain transparency allows to compensate for non-transparent transaction execution. Deposits and withdrawals on the broker’s side are made through the smart contract, and the trader's funds are stored on the smart contract until one of the parties applies for withdrawal of these funds. Since all deposits are stored on the smart contract, if the client or broker disagrees (clients can also be cheaters), the arbitration panel reviews the transaction documentation and makes a verdict on who will receive the funds. Thus, Serenity serves as a guarantee of the broker's honest work and payments. Serenity will also add to the broker's reputation and provide guarantees to the traders in all cases: for the brokers working both on cTrader and MetaTrader, for brokers operating as a hybrid scheme with both A-book and B-book, and for brokers only working as an A-book.
Read more about Serenity here
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If you are a CEO, owner, or key executive of a brokerage company, you undoubtedly aim for a precise and visually clear understanding of how successfully your business operates in various regions. In this case, integrating Power BI into your company becomes not just desirable, but crucial.
What can Power BI do for Forex Brokers?
At UpTrader, we offer our clients Power BI analytics, providing a clear comparative view of any aspect of your business. Simply apply filters by regions to see which one brings in the most revenue. You will be able to see which clients trade the most successfully - perhaps they are your future managers. Determine which trading instruments and in which countries are preferred, to create special offers and trading conditions for traders from these regions. Analyze trading volumes, the popularity of payment systems, and offer special conditions for deposits and withdrawals. Compile comparative dashboards to make data-based forecasts and plan your business development.
Analytics is a powerful tool. And access to analytics with just a few clicks gives you a competitive advantage in quickly analyzing situations and making informed decisions.
At UpTrader, analytics is fully integrated with MetaTrader and all UpTrader Forex CRM modules. Want to implement this in your company? Contact your manager for details [email protected]
Reference:
Power BI is a business analytics tool from Microsoft that allows users to transform data from various sources into interactive dashboards and analytical reports. It is used for aggregating, analyzing, visualizing, and sharing data. Power BI provides a deep understanding of key business indicators and data, helping to make informed decisions based on data.
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This tool is widely used in various industries to optimize processes, improve performance, and identify new opportunities for business.
07.12.2023
UpTrader, a renowned Forex CRM solutions provider, is excited to invite aspiring forex brokers to its exclusive webinar, "Three Steps to Open a Forex Broker." Scheduled for December 8 at 12:00 pm GMT, this event promises to be an invaluable resource for those looking to enter the forex brokerage industry.
Webinar Details:
- Date and Time: December 8, 12:00 pm GMT
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Best regards, The UpTrader Team
28.11.2023
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Your UpTrader Team
15.11.2023
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