A Look At The Best CFD Trading Platform

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A CFD trading platform from MetaQuotes, in the form of MT4 and MT5, has been the standard other platforms have been judged by for many years now.

Given the massive rise in the popularity of online CFD trading, the emergence of other trading platforms was simply a matter of time.

The last few years have witnessed the appearance of some excellent contenders for the title of “Best CFD Trading Platform,” so let us take a closer look at some of the standout options available to traders.

MetaTrader 4 and MetaTrader 5

MetaQuotes CFD Trading Platform

Developer: MetaQuotes

Pros: Standard CFD trading platform for most brokers and CFD traders, a large community of traders and developers, highly customizable, simple, intuitive user interface, advanced real-time charts, multiple integrations with third-party applications.

Cons: Generic mobile apps, which Apple recently removed from their App Store.

MetaQuotes has been around since 2000, when the company’s first product, FX Charts, was released. The company launched MetaTrader 4 in 2005, with MetaTrader 5 following in 2010.

The company uses the MQL programming language, a specialized version of C++ aimed primarily at trading applications, with the latest version being MQL5.

MQL is an open-source programming language. This open-source nature has contributed to the emergence of a highly active community of developers, creating all types of add-ons and trading tools for the CFD trading platform.

PLUGIT has been developing solutions for MT4 and MT5 brokers since 2010, with our flagship product, the YOONIT suite of smart add-ons, now comprised of five modules:

  • Copy Trader
  • Dynamic Margin
  • IB and Affiliate Management
  • Bonus Automation
  • Customized CRM

MT4 and MT5 CFD trading platforms are staples for most brokers, and given the popularity of the MetaQuotes platforms, the considerable number of integrations with third-party solutions is hardly surprising.

Integrations exist for everything from charting applications and trading signals to expert advisors (EA), copy trading applications, and much more.

Both MT4 and MT5 took a bit of a hit when Apple removed the mobile app versions from the App Store. While Apple never gave any official explanation, various rumors about the removal have seen the light, including alleged ties between the company’s owner, who is of Russian origin, and Western sanctions against Russia in the wake of the war in Ukraine.

One other possible explanation would be the number of fraud cases where the perpetrators happened to be using the platform. Given the popularity of both MT4 and MT5, any perpetrators of anything fraudulent would employ the most widely used trading platforms, making MT4 and MT5 victims of their own success if this particular scenario is accurate.

While the App Store ban is still in effect, MetaQuotes recently released a revamped and redesigned version of their popular MT5 web terminal, which, according to the company, allows traders to “fully manage their trading accounts using a mobile device.”

cTrader CFD Trading Platform

cTrader CFD Trading Platform

Developer: Spotware

Pros: User interface, trading from charts, one-click trading, broker-branded mobile apps, multiple assets classes, particularly suitable for ECN brokers.

Cons: Hosted on Spotware servers.

Developed by Spotware, a fintech established in 2010, cTrader is aimed primarily at brokers offering their client ECN (Electronic Communication Network) trade execution.

That is different from saying that cTrader won’t find a home with B-book brokers. Instead, it simply points to the particular feature set of the platform being better suited for ECN brokers.

While cTrader receives high praise from users for the quality of the user interface, the platform combines beauty with brains with feature-rich charting tools, advanced order types, level II pricing, and fast order execution being part and parcel of the platform.

Algorithmic trading is also part of the CFD trading platform in the form of cTrader Automate, allowing traders to develop their own algorithmic trading robots and EAs. cTrader Automate uses the C# API, an open-source programming language, much like the approach taken by MetaQuotes with their MQL language.

cTrader uses the industry-standard FIX ( Financial Information eXchange) API and open-source messaging protocol allowing brokers and clients to connect.

cTrader offers desktop versions for macOS and Windows systems, cTrader Web, a web-based system independent platform, and cTrader Mobile, a native mobile app for iOS and Android smartphones. Traders can download either of the mobile versions directly from the App Store or Google Play, respectively.

UTIP CFD Trading Platform

UTIP CFD Trading Platform

Developer: UTIP Technologies Ltd

Pros: Fast and simple interface, easy transition between modules

Cons: Less connectivity and fewer integrations than other, more established CFD trading platform offerings..

Established in 2006, the company initially catered to the While Label markets before expanding to offering the full suite of trading applications under the UTIP brand.

The company also offers a high-quality data feed and a branded trader’s room. The transition from the platform to the trader’s room is remarkably smooth and slick.

UTIP supports multiple trading instruments and execution models, including as it does its own Smart Dealer module, making the platform suitable for both A-Book and B-Book brokers.

As with all other platforms, UTIP Trading Platform is available in desktop versions for both macOS and Windows systems, a web-based version, and mobile versions for iOS and Android smartphones.

DXTrade CFD

DXTrade CFD Trading Platform

Developer: Devexperts

Pros: Individual branded mobile apps, multiple asset classes, opportunity to purchase source code outright

Cons: Less connectivity and fewer integrations than other, more established platforms.

Devexperts have been active in the fintech industry for nearly two decades and have an excellent reputation for delivering high-quality products.

Pitched towards startups and smaller operations, DXTrade is a low-cost CFD trading platform alternative to the more established trading platforms. The company boasts of its low startup costs and easy deployment, with connection times for new brokers running at around a week.

DXTrade comes in all the usual configurations, including desktop versions for Mac and Windows, a browser-based web platform, and native mobile trading apps for iOS and Android, available for download directly from the App Store and Google Play.

While PLUGIT products integrate natively with MT4 and MT5, we are constantly exploring new partnerships. Our API ensures we can connect to most trading platforms, so why not contact us today for a chat if you want to connect to a particular trading platform? Let’s see how we can work together!

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