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cTrader vs MT5 Mobile App: Why Should You Choose cTrader?

Standing in the blue corner, MT5, an old-fashioned platform, stares at the eyes of cTtrader, an innovative platform. Which one will come out on top?

Short answer: cTrader

Long answer: That's what this guide is all about. In this guide, we'll compare cTrader and MT5 mobile apps and explain why you should choose cTrader.

cTrader vs MT5 mobile app: User interface

Mobile trading has become popular in recent years. When we look at the stats, over 130 million people used more trading apps in 2021 than in 2020.

So, you want a mobile platform that offers an intuitive design. cTrader and MT5 offer mobile apps that allow trading on the go.

cTrader mobile app offers an intuitive interface with a simple layout. It has easy navigation features; you can access menus, tabs, charts, and action buttons without sweat.

cTrader mobile app interface

cTrader mobile app interface

The app allows you to manage all accounts in one place, whether demo or live.

One of the cool features of cTrader is Quick Trade. Quick Trade allows you to take trades on a single or a double tap.

cTrader Quick Trade

cTrader Quick Trade

The chart below illustrates cTrader's actual trading experience. You can see the Bollinger Bands placed on the chart.

Trading on cTrader

Trading on cTrader

MT5 mobile app also provides a great user experience with key features like separate tabs, charts, history, and settings. The app also has a one-click trading option. It allows you to enter and exit trades quickly.

However, the design of the app looks like we are in 2005. Its interface looks similar to MT4, and it isn't beginner-friendly.

MT5 mobile app interface

MT5 mobile app interface

Where cTrader stands out from MT5 is its customization options. You can personalize your trading experience by changing chart layouts, color schemes, and other display settings. MT5 doesn't have many customization options.

So, this round goes to cTrader.

If you think cTrader is awesome, you need an awesome broker like Dominion Markets, which offers a cTrader platform. It is an award-winning broker offering some of the industry's most competitive spreads. You can sign up today and trade up to 200 assets.

cTrader vs MT5 mobile app: Tools and features

As most of us are doing mobile trading, it's important to have the right set of tools and features so we can do our analysis effectively.

The cTrader mobile app provides some advanced charting options. You can change the style of these charts through bar, area, candlestick, and dot charts.

cTrader charting styles

cTrader charting styles

There are also chart objects, which you can draw from the mobile app. These are Horizontal lines, Vertical lines, Trend lines, Rays, Rectangles, Fibonacci Retracement, and Equidistant Price Channels.

cTrader chart objects

cTrader chart objects

When talking about indicators, they are grouped by functionality in the cTrader mobile app. The list includes trend indicators, oscillators, volatility, and volume. You can look for any indicator using the search bar at the top.

cTrader indicator search

cTrader indicator search

What makes cTrader unique is its pattern recognition feature. Using this, you can recognize many chart patterns like triangles, flags, and, heads and shoulders.

The mobile app also comes with the market sentiment analysis. So you can get the feel of the market and refine your trades accordingly. Below, you can see how the cTrader app shows the market sentiment. It’s 49% bearish and 51% bullish.

MT5 chart option

MT5 chart option

The app also has 30 built-in indicators and 24 chart objects. You can also get financial news through the mobile app.

In this round, cTrader KOs MT5 because it has more chart types, indicators, and special features.

cTrader vs MT5: Available assets

As a trader, we want to trade multiple assets. We don't want to get stuck trading one asset class on the mobile app.

cTrader offers thousands of assets based on various categories. It provides forex, stocks, metals, commodities, and crypto. In the mobile app, each asset is placed within the category. You can search for any asset using the search bar and save them in the watchlist.

cTrader market sentiment option

cTrader market sentiment option

One of the cool features of the cTrader app is the trading summary. This option shows an overview of a particular asset and if you have an open position on this asset.

For example, here you can see we selected gold, and this option shows market hours, trading stats, and major events. And you can check take-profit and stop-loss according to pips.

Trading Summary Trading Summary
Trading Summary

Trading Summary

When we talk about timeframes, the cTrader app offers 26 timeframes. Coolly, you can change the timeframe with one tap according to the chart type.

cTrader timeframe options cTrader timeframe options

cTrader timeframe options

Let's come to MT5. The mobile app also offers some of the advanced tools and features. It comes with three chart types, including:

  • Candlestick
  • Line
  • Bar
cTrader assets class

cTrader assets class

It's important to note that different brokers have different asset options, and you should check with your broker before using the app.

If you want to trade multiple assets across various classes, sign up on Dominion Markets. We have over 200 tradeable assets across forex, stocks, commodities, metals, and cryptocurrencies.

Like cTrader, the number of assets on MT5 depends on the broker. You can trade forex, commodities, indices, and cryptos.

Where cTrader stands out is level 2 quotes. Level 2 is an order book for NASDAQ stocks. It gives you the list of the best bids and asks prices from all market participants.

cTrader vs MT5: Pricing

If a trading platform has high commissions and spreads, there's no point in trading on it. You want competitive spreads, low trading commissions, and other costs that do not eat up your profits.

cTrader offers competitive spreads and has a fixed commission per trade. The app also has a swap fee, a cool name for an overnight trade fee. cTrader brokers may have different spreads and commissions, so checking before signing up is important.

Fortunately, you don't have to worry about swaps, spreads, and commissions on Dominion Markets. We offer zero spreads, commissions, and swap-fee. You can compare the account types and see for yourself.

Dominion Markets account types

Dominion Markets account types

Like cTrader, MT5 also offers competitive spreads, commissions, and swap-fee. However, it varies from broker to broker. Oftentimes, MT5 brokers charge more swap-fee or have higher spreads than cTrader brokers. So, make sure to check all the pricing before signing up.

cTrader wins the round again.

cTrader vs MT5: Security

Security is an important aspect of mobile trading apps. You don't want your info or account to be breached. So, let's see what security measures cTrader and MT5 offer:

cTrader uses encryption protocols like SSL to prevent unauthorized access. Also, the app uses multi-factor authentication to provide multiple forms of verification. A cTrader ID feature allows you to sign in with the same credentials as any broker's cTrader account.

The MT5 also provides SSL encryption and uses 2-factor authentication.

cTrader wins the round again due to its multi-factor authentication methods.

Final thoughts

In the cTrader vs. MT5 mobile app, cTrader wins every round. It's like Floyd Mayweather with an amateur boxer from the bloc. cTrader scores more in advanced charting options, various tools, competitive pricing, and reliability.

If you are looking for a cTrader broker, why not choose an award-winning broker with zero costs? You can sign up today on Dominion Markets.