Question: What is the difference between MT4, MT5, cTrader and FXPro platform?
FxPro has firmly established itself as a frontrunner in the world of CFD trading, and its range of platforms is one of the primary reasons for its unrivaled reputation. Here’s a detailed breakdown of what FxPro offers.
A Glance at the FxPro Platforms
FxPro understands that traders have unique preferences and needs. With that in mind, they offer a plethora of top-grade trading platforms such as cTrader, Metatrader 4 (MT4), Metatrader 5 (MT5), and their proprietary solution.
Go to FxPro’s Official Website
Platform Comparison Table:
Account Type | FxPro MT4 | FxPro MT5 | FxPro Platform | MT4 Instant & MT4 Fixed | cTrader |
---|---|---|---|---|---|
CFD Instruments | Forex, Metals, Indices, Energy, Futures, Cryptocurrencies | Forex, Metals, Indices, Energy, Futures, Cryptocurrencies | Forex, Metals, Indices, Energy, Futures, Cryptocurrencies | Forex, Metals, Indices, Energy, Futures, Shares, Cryptocurrencies | Forex, Metals, Indices, Energy, Cryptocurrencies |
Platforms Available | Metatrader 4 desktop MT4 Webtrader MT4 mobile app for iOS / Android FxPro EDGE web FxPro Mobile app for iOS/Android |
Metatrader 5 desktop MT5 Webtrader MT5 mobile app for iOS / Android FxPro EDGE web FxPro Mobile app for iOS/Android |
FxPro mobile app for iOS/Android FxPro EDGE web Metatrader 4 desktop MT4 Webtrader MT4 mobile app for iOS/Android |
Metatrader 4 desktop MT4 Webtrader MT4 mobile app for iOS / Android FxPro EDGE web FxPro Mobile app for iOS/Android |
cTrader Desktop cTrader Webtrader cTrader mobile app for iOS / Android |
Trade Sizes | 0.01 (micro lots) and upwards | 0.01 (micro lots) and upwards | 0.01 (micro lots) and upwards | 0.01 (micro lots) and upwards | 0.01 (micro lots) and upwards |
Trading Costs | All instruments: Marked-Up floating spreads (zero commission)* | All instruments: Marked-Up floating spreads (zero commission)* | All instruments: Marked-Up floating spreads (zero commission)* | MT4 Instant account all instruments: Marked-Up floating spreads (zero commission) MT4 Fixed Spreads account: Fixed spreads applies to 7 major FX pairs MT4 Fixed Spreads account all other instruments: Marked-Up floating spreads (zero commission)* |
FX & Metals: Reduced Spread plus $35 per $1 million traded (upon opening and closing a position). Indices, Energy & Cryptos: Marked-Up floating spreads (zero commission)* |
Min Stop Levels | 1 pip minimum from current/entry price for most majors | 1 pip minimum from current/entry price for most majors | 1 pip minimum from current/entry price for most majors | 1 pip minimum from current/entry price for most majors | No minimum |
Execution Type | Market Execution: tiered liquidity** | Market Execution: tiered liquidity** | Market Execution: tiered liquidity** | Instant Execution: Trade at your requested price or be offered a new one (re-quote) if the market price changed. | Market Execution: tiered liquidity** |
Trading Times | 24/5 FX trading, 24/7 Crypto trading | 24/5 FX trading, 24/7 Crypto trading | 24/5 FX trading, 24/7 Crypto trading | 24/5 FX trading, 24/7 Crypto trading | 24/5 FX trading |
Execution Model | No Dealing Desk Intervention | No Dealing Desk Intervention | No Dealing Desk Intervention | No Dealing Desk Intervention | No Dealing Desk Intervention |
Stop Out | 50% (all entities) | 50% (all entities) | 50% (all entities) | 50% (all entities) | 50% (all entities) |
**orders are executed at the volume-weighted average price (VWAP)
Trading with FxPro presents the advantage of choosing from a variety of platforms and account types. The key is in the details, and FxPro doesn’t miss out on any. Boasting more than 2100+ CFD assets across six different classes and advanced online trading tools, FxPro caters to both novices and pros. Their commitment to quality execution is backed by their outstanding execution statistics which can be verified on their website.
The distinction between MT4 and MT5 is crucial. While MT4 supports all 6 asset classes, MT5 supports a broader range of Shares, with cTrader not supporting Shares or Futures. Additionally, MetaTrader5 operates as a ‘netting’ platform by default. However, a ‘hedging’ version of the platform is available upon request. The cost structure is transparent; while there is a spread charged on all products, cTrader boasts lower FX spreads with a fixed commission fee. A detailed review of fees and conditions across each platform can be found on FxPro’s commissions and swap charges page.
The new in-house FxPro platform is a game-changer, offering an all-in-one solution through powerful web and mobile solutions. For traders valuing user-friendliness, the MetaTrader range is ideal, whereas the cTrader offers a contemporary set of features. From technical indicators to external analysis, traders have a plethora of tools at their disposal across all platforms.
Go to FxPro’s Official Website
Introducing the FxPro Trading Platform
As a pioneer in CFD trading, FxPro’s latest endeavor is a proprietary forex trading platform meticulously designed to suit client needs. This platform promises an unparalleled trading experience, allowing seamless account management and trading from a single integrated platform.
Key Features:
- FxPro Mobile App: This all-in-one solution is available for both iOS and Android and offers an array of features such as fast sign-up, an interactive economic calendar, volatility push notifications, and more.
- FxPro Desktop: The online web platform, FxPro EDGE, provides direct access to FxPro accounts with customizable features and advanced trading widgets.
The FxPro Platform stands out for traders seeking a streamlined approach, allowing them to manage their funds and trade across a full range of CFD asset classes directly from the app.
Diving Deeper into Other FxPro Platforms
- MetaTrader 4 (MT4):
- As the industry standard, MT4 is a force to be reckoned with. It combines advanced trading infrastructure with competitive pricing. With MT4, traders can enjoy features like 50+ pre-installed technical indicators, an easy-to-use interface, and more.
- MetaTrader 5 (MT5):
- Building on MT4’s legacy, MT5 offers an enhanced trading environment. It boasts features like 38+ pre-installed technical indicators, integrated economic calendar, and DOM (Depth of Market).
- cTrader:
- A perfect blend of lower commissions and advanced technical features. It is distinguished by its cTID login functionality, allowing for synchronized settings across all linked accounts.
- FxPro Trading App:
- An ultimate mobile trading platform with powerful TradingView charting and account management tools. Traders can also manage their funds securely, monitor economic events, and stay updated with push notifications.
In conclusion, FxPro’s diverse range of platforms ensures that every trader finds a platform tailored to their specific needs. Whether you’re a novice or an expert, FxPro’s platforms offer an optimal environment for fruitful trading.
Go to FxPro’s Official Website
FXPro’s order execution
FxPro’s order execution is characterized by its No Dealing Desk (NDD) execution model. Here’s an explanation of how FxPro’s order execution works and the benefits it offers:
- No Dealing Desk Execution:
- FxPro employs a No Dealing Desk execution model, which means that client trades are executed without any intervention from a dealing desk. This model is designed to provide traders with fair and transparent execution, where orders are sent directly to the market for execution.
- Deep Liquidity:
- FxPro’s NDD execution gives traders access to deep liquidity. This means that traders can benefit from the best available bid and ask prices when placing a trade. Deep liquidity helps ensure that traders can execute their trades at competitive prices.
- Ultra-fast Execution:
- FxPro prides itself on its ultra-fast order execution. The broker has achieved impressive execution speeds, with most client orders being filled in under 13 milliseconds. This fast execution ensures that trades are executed promptly and at the desired price.
- Internal Matching of Orders:
- Due to the high trading volumes of its clients, FxPro is able to internally match a significant portion of its order flow. This internal matching helps minimize the broker’s risk exposure while ensuring that clients’ orders are executed efficiently. It also helps maintain a low level of interference with clients’ orders.
- Residual Exposure:
- While FxPro aims to internally match orders, there might be residual exposure that remains in-house, up to the broker’s market risk limit. Any excess exposure beyond this limit may be hedged externally to manage risk effectively.
- Transparency:
- FxPro emphasizes transparency in its execution practices. The broker strives to provide a clear and ethical model of execution that meets both trader demands and industry standards. This transparency is designed to enhance trust between the broker and its clients.
- Slippage and Requotes:
- FxPro provides statistics on slippage and requotes to showcase its commitment to fair execution. In 2022, over 86% of market orders were executed at the requested price or a better one. Moreover, only a small percentage of instant orders received requotes, with some even receiving better prices to execute their orders.
- Equinix Data Centers:
- FxPro executes trades at its Equinix Data Centers located in LD4 London. These data centers are co-located and cross-fiber connected with Tier 1 banks, allowing FxPro to access liquidity via its proprietary aggregator, Quotix.
FxPro’s No Dealing Desk execution model aims to provide traders with fast, transparent, and efficient order execution. The focus on deep liquidity, internal order matching, transparency, and quick execution times are all designed to enhance the trading experience for FxPro’s clients.
FAQs about FXPro’s trading platforms
- 1. What trading platforms does FxPro offer?
- FxPro provides a variety of top-grade trading platforms, including cTrader, Metatrader 4 (MT4), Metatrader 5 (MT5), and their proprietary solution.
- 2. How many asset classes and CFD assets does FxPro support?
- FxPro supports over 2100+ CFD assets across 6 different classes.
- 3. What are the primary differences between the MT4 and MT5 platforms?
- The main difference lies in the range of CFD products each platform supports. MT4 allows trading on all 6 asset classes, while MT5 offers a wider range of Shares. Additionally, MT5 is a ‘netting’ platform by default, but a ‘hedging’ version can be provided upon request.
- 4. Are there any costs associated with trading on FxPro platforms?
- Yes, FxPro charges a spread on all of their products. For instance, the cTrader platform generally offers lower FX spreads but comes with a fixed commission fee. It’s recommended to review fee differences on the FxPro website’s instrument specifications page.
- 5. How can I understand FxPro’s execution statistics and fees?
- You can find detailed information on execution statistics and other fees on the official FxPro website. They maintain publicly available data on their pricing model and commissions.
- 6. What makes the FxPro proprietary trading platform unique?
- The FxPro proprietary platform offers an all-in-one solution. It’s designed for managing accounts, funds, and trading from a single integrated platform. The platform also features an interactive economic calendar, volatility push notifications, and is available for both iOS and Android devices.
- 7. Which platform is recommended for traders seeking a user-friendly experience?
- The MetaTrader range, including MT5 and MT4, is traditionally seen as a user-friendly choice. However, the cTrader platform, developed by Spotware, offers a broader range of modern features for advanced traders.
- 8. Does FxPro offer any mobile trading solutions?
- Yes, the FxPro App is available for mobile devices, offering powerful TradingView charting, account and fund management tools, and economic events alerts. The app is suitable for both iOS and Android users.
- 9. How does FxPro ensure the security of the trading app?
- The FxPro App uses top-tier data encryption, two-step authentication, and offers passcode and fingerprint setting options, ensuring maximum security for users’ accounts and financial transactions.
- 10. If I have questions or issues, how can I get in touch with FxPro support?
- FxPro’s customer service team is available 24/5. You can reach out to them for discussions about their products or for any trading-related queries. If you’re using the FxPro App, you can also contact their award-winning support team directly from within the app.