Finding the right broker to start your trading can be daunting, we recommend that you take a look at IC Markets who are not only highly regulated but also have accumulated thousands of real-online positive reviews on Trustpilot, this is an Australian-based broker, but anybody can sign-up with them.
Why Do you Need a Broker?
You may ask, why do I need a broker to use the cTrader platform, this is because it is the broker who provides the data and processes your orders through the cTrader trading platform and because of this each broker offers an exact copy of the platform, but each one has the brokers logos and name shown on the screens.
Who is IC Markets?
IC Markets isregulated by the top-tier Australian regulator, the Australian Securities and Investments Commission (ASIC) and is perfect for forex traders preferring easy account opening and free deposit and withdrawals. This broker has one of the highest levels of positive customer feedback onTrustpilotand the last time we looked they had over 9000 reviews with an average rating of 4.8 out of 5, which is an excellent achievement which means the customers are happy and if the customers are happy then their support, services and fees are also good.
IC Markets cTrader Platform
The IC Markets cTrader platform is a market-leading trading platform designed from the ground up with Forex CFD trading in mind, they offer very low spreads, raw pricing, and ultra-fast execution with deep liquidity. their pricing aggregates a mix from up to 25 different price providers which means that they are always able to source the best price and keep the spreads tight, especially during high volatility times such as news announcements.
Free, no-obligation demo for as long as you want.
Scalping Friendly Broker
This broker allows thecTrader platform to have no restrictions on trading, they have some of the best trading conditions for scalping and high-frequency trading globally that allows traders to place orders between the spread as there is no minimum order distance and a freeze level of 0. This allows orders including stop-loss orders to be placed as close to the market price as possible.
64 Currencies & Metals + 15 CFDs
IC Markets Trade 64 currency pairs plus 15 major equity indices including the FTSE 100, S&P/ASX 200 and Dow Jones Index 24 hours a day with a spread of 1 point.
Leveraging Allowed up to 1:500
Open an account and you can leverage up to 1:500 on the IC Markets cTrader platform, this allows traders to use a use high-level of leverage to suit their trading style and get the best out of their manual and automated trading strategies.
Smart Stop Out
The trader's account is protected by the Smart-Stop-Out logic in cTrader which has been designed to provide maximum protection to the trader's account. It works by checking if the Margin Level falls below the Smart Stop Out Level and if this happens then positions will start being closed partially until Margin Level reaches above Smart Stop Out.
Funding & Withdrawal Options
You have various methods of funding your account, you can fund using one of 10 funding options which include:
- Credit/Debit card
- Moneybookers
- wire transfer
- broker to broker transfer
- branch deposits China Union Pay, Neteller.
cTrader Features
CTrader at IC Markets offers deep liquidity in 64 currency pairs and 16 major equity indices with exceptional execution speeds and no trading restrictions. We found that IC Markets is one of the premier True ECN forex brokers across the globe.
Customer Service
IC Markets offers excellent customer service with support staff available by phone, e-mail, and live chat 24/7 with toll-free numbers for customers in Australia, Thailand, and the United Kingdom. Moreover, also clients have access to a dedicated Chinese support centre.All traders need a broker they can contact at any time and get a friendly response andas a result, customers should have no issues contacting support staff and receiving help in a timely manner.
Islamic Account Option
The cTrader IC Markets plan alsooffers Islamic accounts which are also known as a swap-free accounts, this was designed for clients who cannot earn or pay the interest due to religious beliefs.
Trustpilot Customer Reviews
This broker has some of the best real-online customer reviews for a retail broker, as with all brokers there will be some unhappy customers, but to achieve an excellent rating with over 1.2K reviews is pretty impressive in this industry where many traders fail and blame the broker.
FAQs
Click click on the account bar found on the upper right corner and select Create New Trading Account from the dropdown. 2. In the Demo Account form specify the deposit amount, account currency, account leverage, and the account type (Hedging or Netting).
Is it easier to trade on a demo account? ›
Demo accounts can provide some benefit to new traders because they allow the trader to become familiar with trading software and get a sense of how the market works. However, traders should be prepared that simulated results rarely correlate to actual trading results.
Is cTrader better than MT5? ›
Regarding chart types and timeframes, the cTrader platform is the better. Regarding ease of use, new traders will find cTrader more convenient than MT5. Traders can quickly determine trade sizes and place different trading orders on cTrader.
How long should I trade on demo account? ›
Once you deal with those complexities and understand how trading will fit into your real life and you are consistently profitable for several months, you may be ready to trade. Four to six months is a good timeframe to demo before going live (that is four to six months of consistent profit).
How do I make my demo account real? ›
1) Trade Like it's real
When you open up a demo account, forget that it is a “demo” account. Treat it as a live account with your real money in it. Enter the trade with a strategy, plan, risk management and etc. Your demo account's size and leverage should be exactly the same as your live account would be.
Which broker uses cTrader? ›
Below we explore the best cTrader brokers in 2024.
- eToro. Open An Account. eToro is a multi-asset investment platform. ...
- RoboForex. Open An Account. ...
- Octa. Open An Account. ...
- FxPro. Open An Account. ...
- Pepperstone. Open An Account.
eToro's demo trading account is highly recommended for its diverse investment options, including more than 3,400 shares and ETFs, alongside cryptocurrencies, commodities, and more, all accessible through a user-friendly platform.
Why does my MT4 demo account say not enough money? ›
Why am I getting the error 'Not enough money' when trying to open trades on my MT4 account? If 'Not enough money' message pop up it means that there is not enough money to cover the margin requirement on the account, you will need to fund your account or close some/all open trades if any to free up margin.
How much do you need in your account to day trade? ›
First, pattern day traders must maintain minimum equity of $25,000 in their margin account on any day that the customer day trades. This required minimum equity, which can be a combination of cash and eligible securities, must be in your account prior to engaging in any day-trading activities.
Can Americans use cTrader? ›
US nationals/residents including the US overseas territories (Guam, American Samoa, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands) are not allowed to use MetaTrader or cTrader platform.
cTrader excels with its user-friendly interface, advanced charting capabilities, and robust automation tools. Match-Trader shines with its seamless omnichannel experience, strong social features, and its focus on facilitating social interaction among traders.
Which company owns cTrader? ›
Spotware Systems Ltd owns and operates the cTrader System. The use of this system is subject to the terms and conditions specified on spotware.com. Trades generated through the use of cTrader functionalities like “Copy” or “Automate“, available in cTrader are not the responsibility of FXPIG™.
Why do many traders lose money long term? ›
Traders fail due to being undercapitalized.
Sometimes the market is easier to trade and you make money right away. But usually, there is a learning curve which means losing some of your capital at the start. After that learning curve, you still need enough capital so that the risk on any single trade is small.
Are forex demo accounts accurate? ›
There are far too many real-world variables like order rejection or slippage that don't appear in simulated trades. It's important to keep in mind that your trading performance in a demo account is entirely hypothetical and your trading strategy will often be different when risking actual money.
How many times can I day trade with a margin account? ›
If you make four or more day trades over the course of any five business days, and those trades account for more than 6% of your account activity over the period, your margin account will be flagged as a pattern day trader account.
How do I register a demo account? ›
How to Open a Demo Account
- Create your demo account. Complete our simple application form - simply provide your name, email address, phone number and password.
- Download your trading platform. ...
- Start trading.
Opening a Trading Account
- Open the account selector located in the top right corner of the cTrader window.
- Click on 'Create New Trading Account...' below the accounts list.
- In the new window, select the account type (live or demo), deposit amount, currency, leverage, and account type.
Charting and Analysis: TradingView excels in charting and technical analysis, while cTrader and MT5 offer wide range of features and superior focus emphasis on trade execution.
