5 Best cTrader brokers for forex traders in Africa

cTrader is a feature-rich forex and CFDs trading platform for all types of traders. It was created by Spotware Systems Limited and launched in 2011 to provide the retail trading market with a fully-transparent STP/ECN electronic platform. The parent company has developed an extensive ecosystem of products and brokerages for an all-in-one trader-centric experience.

 

This is a list of the top cTrader brokers

 

In this in-depth guide you’ll learn:

  • The best brokers for cTrader?
  • Is cTrader a good trading platform?
  • What do cTrader offer forex and CFDs traders?
  • cTrader versus MetaTrader 4?

 

And lots more…

 

Let’s dive right in…

 

10 Best Forex Brokers in South Africa for 2022

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

 

🌐 Broker⚖️ Regulation👍 cTrader Broker?📉 Open an account
IC MarketsASICYes ✔️ 👉 Click Here
PepperstoneAustralia, Bahamas, Cyprus, Dubai, Germany, Kenya, UKYes ✔️ 👉 Click Here
FxProFSCAYes ✔️ 👉 Click Here
OctaFXSVGFSAYes ✔️ 👉 Click Here
AxioryMFSC, IFSC, FCAYes ✔️ 👉 Click Here

 

5 best cTrader Brokers in South Africa (2022)

Spotware boasts over 60 affiliated global brokerages, over 40 integrations with leading liquidity providers, data vendors and CRMs, and millions of registered forex and CFDs traders. cTrader is a competitive rival for the world’s most popular electronic trading platforms, MetaTrader 4 and MetaTrader 5. cTrader is broker-neutral, meaning any broker can offer the forex and CFDs electronic platform.

 

Best brokers for cTrader in 2022

 

IC Markets

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC 

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 IC Markets is a leading Australian-based forex and CFDs broker, offering access to a wide range of financial markets on MT4/MT5 for retail traders and cTrader for institutional clients. IC Markets provides three core trading accounts; a Standard commission-free account and the commission-based Raw Spread with MetaTrader and Raw Spread with cTrader. The forex broker also offers a free demo trading account and an Islamic swap-free account.

 

👉 IC Markets caters to beginner and intermediate traders, but it is more suited for advanced and institutional traders. It’s the preferred forex broker in Australia for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre, which processes over 500 000 trades per day. IC Markets supports additional trading platforms for copy trading, including ZuluTrade and MyFXbook.

 

Pepperstone

 

Overall Rating

4.9/5

Rated #54 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FCA, SCB, CMA, ASIC, DFSA, CySEC, BaFIN

📱 Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes – CFDs

📈 Total Pairs

70

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 Pepperstone is globally-regulated forex and CFDs brokerage that accepts beginner traders in Africa. Pepperstone was founded in 2010, its headquarters are based in Australia, and the brokerage is regulated by several Top-tier authorities, including the FCA in the UK and ASIC in Australia.

 

👉 Pepperstone offers clients access to various financial instruments on the MT4, MT5 and cTrader trading platforms. Clients choose three types of accounts: the Standard commission-free account, the commission-based Razor account, and the commission-free, swap-free Islamic account.

 

👉 Pepperstone publishes an impressive range of trader research and educational material, including Market Analysis, Economic Calendar, trading guides, webinars and daily market news. It supports additional trading tools such as Smart Trader Tools, VPS hosting and Autochartist.

 

FxPro

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 FxPro is a global, multi-regulated forex and CFDs broker that accepts Africa traders. The brokerage offers access to a wide range of asset classes on the MT4, MT5 and cTrader platforms. FxPro also has its own award-winning proprietary trading platform.

 

👉 The firm is a No Dealer Desk (NDD) broker, so order execution is fast, with most orders filled in under 15 minutes. This also means there is no conflict of interest or problems with slippage and re-quotes. FxPro is regulated by several Top-tier authorities, including the FCA, CySEC and FSCA.

 

👉 FxPro supports a wide range of trading tools and market analysis on its trading platforms and publishes an array of educational material for beginner forex brokers. Customer service is excellent, and you have access to FxPro support 24-hours a day/5-days a week via Live Chat, email and call-back.

 

OctaFX

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

Metatrader 4 , Metatrader 5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

👉 OctaFX is a regulated forex and CFDs broker that accepts traders in Africa. OctaFX offers access to a wide range of asset classes on the MT4 and MT5 trading platforms, cTrader for copy traders and its proprietary OctaFX trading app.

 

👉 The types of accounts offered by OctaFX cater for beginner and professional traders, including MetaTrader 4 Micro, MetaTrader 5 Pro or cTrader ECN. The brokerage has its own proprietary copy trading platform called OctaFX Copy Trading. Clients can manage their demo and live accounts, view contests, access copy trading services and promotional offers from the OctaFX.com Personal Area.

 

Axiory

 

Overall Rating

4.7/5

Rated #184 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

MFSC, IFSC, FCA

📱 Trading Desk

MetaTrader4, MetaTrader5,  cTrader, CopyTrade

Crypto

No

📈 Total Pairs

62

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 Axiory is a global forex and CFDs online broker established in 2011. The brokerage offers both MetaTrader trading platforms and cTrader to trade forex, commodities, stocks and indices on the financial markets. Axiory is the brand name of Axiory Global Limited, based in Belize and licensed and regulated by the International Financial Services Commission (IFSC).

 

👉 Axiory is a member of The Financial Commission (FinaCom) and has implemented strict protocols to safeguard its clients’ funds and data. Axiory is regulatory compliant and is a safe and dependable broker for forex traders in Africa.

 

Is cTrader a good trading platform?

👉 cTrader is an excellent electronic trading platform trusted by over 60 brokerages and millions of registered forex and CFDs traders worldwide. The software was designed specifically for the unique needs of electronic communication network (ECN) brokers and traders. The trading software provides two primary functions: trade execution and charting.

 

👉 cTrader offers a fluid, transparent trading environment, a clean, uncluttered, easy-to-use interface, and intuitive features for beginners and advanced ECN traders who trade through a No Dealing Desk (NDD) broker.

 

👉 For years, MetaTrader 4 dominated the market as the most widely used electronic trading app. While cTrader has only taken a fraction of market size from the MetaTrader developers, the ECN-focused platform is gaining respect and traction among brokers and traders. Since it was launched in 2011, cTrader has established itself as a serious challenger to MetaTrader.

 

What do cTrader offer forex and CFDs traders?

👉 cTrader is a multi-asset forex and CFDs trading platform with cutting-edge charting tools, progressive order types, rapid performance, sophisticated backend technology and Level II pricing.

 

Charting

vcTrader charts are highly effective for ECN trading and react rapidly to market movements. The QuickTrade settings and in-chart tools allow you to effortlessly set Market, Limit and Stop Orders, set price alerts and trading goals directly in the charts.

 

cTrader Copy

👉 cTrader Copy is incorporated in the trading platform. This feature allows ECN brokers and professional traders to become strategy providers and beginner traders easy access to successful trading strategies that they can copy.

 

cAlgo

👉 cAlgo enables you to automate your ECN trading strategies using algorithmic trading robots. Traders use the C# Application Programming Interface (API) to write code within the integrated cTrader environment and test and optimise their trading robots and custom indicators.

 

cTrader Open API

👉 cTrader Open API is used by ECN traders to build their applications. cTrader’s Open API is free, secure and accessible to all types of forex and CFDs traders.

 

cTrader FIX API

👉 cTrader’s FIX API is the industry standard interface for electronic communication between brokers, traders, investment fund managers and liquidity providers. FIX (Financial Information Exchange) API (Application Programming Interface) specifically accommodates hedging.

 

cTrader Web and mobile

👉 cTrader Web is a web-based version of the cTrader native trading platform and allows traders easy access to the global markets using Windows, Mac or Linux operating systems. cTrader Mobile is the on-the-go trading and analysis app for iOS and Android devices. It is available from the App Store or Google Play Store.

 

cTrader versus MetaTrader 4: which one is better?

👉 MetaTrader 4 (MT4) is the most widely-used electronic trading platform for forex and CFDs online trading. Launched in 2005, MetaTrader 4 is supported by 95 percent of retail brokers worldwide and remains the most popular trading platform for beginner, intermediate and advanced traders. However, cTrader has a lot to offer as a highly efficient alternative.

 

👉 Both trading platforms offer advanced features and rich functionality for forex and CFDs traders in Africa. Regarding which trading platform is better – cTrader or MetaTrader 4, the choice comes down to personal preference.

 

Charting

👉 MT4 offers four charts that take up the majority of the screen. Other windows such as Market Watch and trading instruments are given less space in the interface. cTrader has only one chart, which is positioned in the centre of the screen, with ample space available for other windows. cTrader and MT4 support three main chart types; line, bar and candlestick. cTrader also offers dots charts.

 

Timeframes

👉 cTrader offers 28 different time intervals. MT4 offers 9 intervals.

 

Programming language

👉 MT4 uses MQL4; MT5 uses MQL5. cTrader uses the more common C# language.

 

Design

👉 cTrader offers a more modern and pleasing design, while MT4 has a somewhat dated interface with white and grey windows. cTrader’s users can switch between light and dark themes and enjoy more variety in trading indicators and graphical objects.

 

Simplicity

👉 Beginners prefer MT4 because of its simplicity and availability of numerous pre-existing scripts. Advanced traders often choose cTrader and MT5 over MT4 because they offer advanced functionality suited for more experienced traders.

 

Algorithmic trading

👉 cTrader lags behind MT4 on algorithmic trading because trading robots and custom indicators are limited.

 

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.

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