About Us
Trading
Platform & Tools
Partner with us
Help
Create an account LOG IN

Fusion Markets

Welcome to our Blog

Every so often, we post articles we think you might find useful and will help you grow as a trader.

All Categories
All Categories
Trading and Brokerage
Stuff that makes you think
Market Analysis
General
Market Hours
Loading...
No results
General
post image main
cTrader vs. MetaTrader: Key Differences and Similarities
Fusion Markets

In the fast-paced world of forex trading, having access to a reliable and efficient trading platform is paramount to your trading success. Among the titans of the forex trading platform world, two names stand out: cTrader and MetaTrader 4/5 (MT4 and MT5). These platforms have amassed an extensive user base and earned their loyal followings.

 

In this article, we'll delve into the intricacies of each platform, comparing their features, advantages, and limitations, to help you determine which platform is right for you.


Metatrader vs cTrader table of differences and similarities



Contents 


Genesis

User Interface and Customisation

Charting and Technical Analysis

Order Types and Placement

Algorithmic Trading and Expert Advisors

Mobile Trading



The Genesis of cTrader and MetaTrader


MetaTrader is the brainchild of MetaQuotes Software. The company introduced the first version, MetaTrader 4 (MT4), in 2005. Its successor, MetaTrader 5 (MT5), followed in 2010, bringing a host of new features and capabilities to the table.

 

cTrader was launched by Spotware Systems Ltd. in 2011, aiming to provide traders with a platform that offers a user-friendly interface and advanced functionalities. cTrader's main focus is on creating a seamless trading experience for both beginner and experienced traders alike.

 


User Interface and Customisation


One of the most significant factors in a trading platform's popularity is its user interface (UI). Despite MT4 being somewhat outdated compared to cTrader's modern design, both offer clean and intuitive interfaces, making them relatively easy for traders to navigate. However, they have different approaches when it comes to customisation.

 

cTrader takes the lead in UI customisation, allowing traders to personalise their workspace extensively. Users can arrange and resize various windows, add or remove trading indicators, and set up multiple charts on a single screen. This level of flexibility empowers traders to create an environment tailored to their specific trading needs.

 

On the other hand, MetaTrader, especially MT4, has a more rigid UI, with limited customisation options. While MT5 improved in this aspect, it still lags behind cTrader's superior customisation features. 

 


Charting and Technical Analysis


In terms of charting and technical analysis, both platforms deliver robust solutions. Traders can access a wide range of chart types, timeframes, and drawing tools on both cTrader and MetaTrader.

 

cTrader stands out with its intuitive charting package, providing more than 70 pre-installed indicators and a smooth drawing experience. It also offers Level II pricing data with its 3 depth of market (DoM) types (Standard, Price, VWAP), giving traders a greater insight into market depth and liquidity.

 

MetaTrader, however, remains a popular choice for technical analysis enthusiasts, thanks to its massive library of third-party indicators and analytical tools. This vibrant community-driven ecosystem ensures that traders have access to an extensive arsenal of tools to refine their strategies.


Let's dive into the specifics:


MetaTrader 4


Chart Types: MetaTrader 4 supports three fundamental chart types, namely Bar, Line, and Candlestick.

Timeframes: Nine distinct timeframes, spanning from 1 minute to 1 month.

Analytical Objects: 24 analytical objects, including lines, channels, shapes, arrows, and essential Gann and Fibonacci tools.

Technical Indicators: 30 built-in technical indicators. Furthermore, traders can explore over 2,000 free custom indicators and access 700 premium indicators available in the Code Base.

Chart Views: The platform allows traders to open an unlimited number of charts simultaneously. Moreover, traders can personalize their charts by creating templates that define specific attributes such as color schemes, chart types, scales, line studies, and applied indicators.


cTrader


Chart Types: cTrader comes with 8 chart types, but also includes additional variations such as tick and pip charts. These chart types include Bar, Line, Candlestick, Heikin-Ashi, HLC, Dot, Tick (configurable with 27 settings), Renko (with 19 settings), and Range-based charts (with 22 settings).

Timeframes: cTrader features 26 timeframes with the standard chart and over 50 timeframes and six zoom levels across all chart types (including tick and pip charts).

Analytical Objects: The platform boasts 33 analytical objects. 

Technical Indicators: cTrader offers 70 built-in technical indicators.

Chart Views: cTrader introduces Chart Views, allowing traders to detach charts and use them as separate tradable desktop applications across multiple screens. Additionally, ChartShot enables traders to share trading examples and strategies relatively easily.

 


Order Types and Placement


Now that we've got a comprehensive view of the differences in charting, let's delve into the nuances of order placement in MetaTrader and cTrader, highlighting their distinct approaches and functionalities:


Order Placement in cTrader


  • Weekend Order Placement: Traders using cTrader have the unique advantage of placing waiting orders during weekends, even when the markets are closed. This feature facilitates meticulous planning and analysis, allowing traders to prepare for the trading week ahead.

  • Specialized Order Types: cTrader goes a step further by introducing specialized order types like Buy or Sell Limit, adding an additional layer of risk management and trading versatility to the platform.

  • Click-and-Drag: Waiting orders, such as Buy Limit or Sell Stop, can be placed by selecting the order type and adjusting its position through an intuitive click-and-drag action directly on the chart.

  • Specialised Stop-Out features: Smart Stop-Out (partial closure while retaining entry) and Fair Stop-Out (full closure to maximize margin for active positions) give traders better risk management tools.


Order Placement in MetaTrader


  • Traditional Approach: MetaTrader employs traditional methods for order placement, necessitating traders to click directly on the desired spot in the chart to execute waiting orders.

  • Limited Specialized Order Types: MetaTrader has all the necessary order types needed for trading but lacks some of the more advanced features like cTrader's smart stop out.


Algorithmic Trading and Expert Advisors


The next significant aspect we need to consider is automated trading. In MetaTrader applications, both MT4 and MT5, traders can utilise Expert Advisors (EAs), which are manually coded programs designed for automated tasks, such as technical analysis of price data and executing positions on specific instruments.

 

When comparing MT4 to MT5, the primary difference between their Expert Advisors lies in the programming language they employ. Since MQL4 has been in use for a longer time than MQL5, there is a more extensive collection of pre-written scripts and codes available for traders to create their personal Expert Advisors, even if they lack programming knowledge. On the other hand, MQL5 is a simpler programming language, making it easier for traders to create new scripts themselves.

 

Regarding cTrader, it also offers similar programs known as cBots, which function similarly to Expert Advisors. As mentioned earlier, cTrader uses the widely recognised C# programming language, theoretically making it the most versatile among the three languages (MQL4, MQL5, and C#) with a larger consumer base. 

 

However, in reality, cBots are less popular than Expert Advisors (EAs), and the reason for this is that the online trading community supporting EAs is much larger than that of cBots. Consequently, there are more pre-existing templates available for MT4/MT5 compared to cTrader. 

 


Mobile Trading


Mobile trading has become an integral part of the modern trading experience. Both platforms offer mobile applications for iOS and Android devices, enabling traders to stay connected to the markets on the go.

 

cTrader's mobile app is widely acclaimed for its user-friendly design and seamless functionality. It provides real-time quotes, interactive charts, and order execution capabilities, giving traders full control over their portfolios from the palm of their hand.

 

MetaTrader's mobile app, too, is highly regarded and offers a range of features for on-the-go trading. It allows traders to access their accounts, execute trades, and monitor markets in real time.

 


Conclusion

 

In conclusion, both cTrader and MetaTrader are powerful trading platforms, each with its own set of unique features and strengths. cTrader shines in its user-friendly interface, extensive customisation options, and array of features. On the other hand, MetaTrader's widespread popularity gives traders a great pool of resources to draw on and stronger community support, while having all the tools needed to be successful in the markets.

 

Ultimately, the choice between cTrader and MetaTrader depends on individual preferences, trading styles, and specific needs. Traders should consider their asset preferences, technical analysis requirements, and whether they prefer a larger community-driven ecosystem or a more user-friendly interface with more features. Regardless of the choice, both platforms have significantly contributed to enhancing the trading experience for millions of traders worldwide.


Ready to Start Trading?


  1. Sign Up for Fusion Markets, Australia's Lowest Cost Forex Provider*

  2. Create Your cTrader or MetaTrader 4 or 5 Account.

  3. Download Your Preferred Version of cTrader (Desktop, Mobile - iOS and Android), MetaTrader 4 (Desktop, Mobile - iOS and Android) or MetaTrader 5.
    Or
    Trade With Your Browser with cTrader WebTrader, MetaTrader 4 WebTrader or MetaTrader 5 WebTrader.

  4. Fund Your Account

  5. Start Trading!



09.08.2023
Trading and Brokerage
post image main
Our Inter-Account Transfers are Now 60% Cheaper
Fusion Markets

Our mission has always been to bring low-cost trading to everyone, everywhere, and our newest upgrade is another way we're fulfilling that promise to you. In this blog post, we'll delve into the improvements we've made to our inter-account transfer infrastructure, and show you how to leverage these new features to optimise your trades.


Reduced Account-to-Account FX Transfer Costs


Part of our upgrade allows you to transfer funds from two different base currency accounts at a rate 60% cheaper than before. Our rates are essentially interbank rates, meaning that these are some of the best rates you'll find available, even from your own bank.

So when you're transferring funds from your USD account to your EUR account, you're getting close to the rate that banks will give when they trade with each other.


Seamless Transfers Between Trading Accounts


Transferring funds between your trading accounts is now a breeze. Access the convenient "Payments" tab within your Client Hub and click on "Transfer."


Effortlessly swap between accounts or create new ones to streamline your trading strategy and manage your funds with ease.


undefined

Creating New Base Currency Accounts Made Simple


In addition to far superior exchange rates, you can also create new base currency accounts with a simple click.


To create a new account, all you need to do is select a currency in which you currently do not have a trading account.


Click on "Create an Account," set up your password and trading conditions, and you're ready to go.


undefined


Instant Transfers for Immediate Trading


Recognising the importance of time in the fast-paced world of trading, we've ensured that transfers between your accounts are now instant. With prompt processing, you can create a new account, transfer funds, and dive into trading within a minute. Embrace agility and seize opportunities swiftly.


Have More Questions?


If you require further information or have any additional questions, do not hesitate to reach out to our support team - we're available 24/7. We're here to provide guidance and support, ensuring your trading success.


Happy trading!


12.06.2023
Trading and Brokerage
post image main
Unveiling the Power of Spreads: Trade Smarter with Fusion Markets' Spreads Tool
Fusion Markets

Are you ready to talk about spreads? Sure, you might think that there is nothing you have not heard before.  


John Wooden, an American basketball coach, said it best: “The eight laws of learning are explanation, demonstration, imitation, repetition, repetition, repetition, repetition, repetition.” 


So, hear me out. The spread is one of the most important concepts in forex trading, and understanding how it works can have a significant impact on your trading game. 

 

First things first, let's define what a spread is. In forex trading, a spread is the difference between the bid and ask price of a currency pair. The bid price is the price at which you can sell the currency, while the ask price is the price at which you can buy it.  

undefined

The size of the spread can vary depending on a number of factors, including the volatility of the market, the liquidity of the currency pair, and the broker you are using. In general, the more volatile and illiquid a currency pair is, the larger the spread will be. 

 

Now, picture this: you have finally decided to dip your toe into the exciting world of forex trading. You have done your research, chosen a broker, and you are ready to make your first trade. But wait - what is this? The spread on your chosen currency pair is wider than the Grand Canyon. Suddenly, your dream of becoming a successful forex trader starts to feel like a distant memory. 

 

Okay, maybe that is a bit dramatic. But the point is, the spread can make a substantial difference in your forex trading experience. And when it comes to spreads, tighter is always better. 



So, why is it important to trade with tight spreads? 



For starters, tighter spreads mean lower trading costs. Some brokers might increase their spreads as part of their fee, which is why on some account types, the commissions are baked into the spreads. Remember that there are also several factors that might have an impact on the spreads. If the spread is wider, that means you are paying more in fees every time you buy or sell a currency pair. Over time, those fees can really add up, eating into your profits and making it harder to achieve your trading goals. 

 

But it is not just about the cost. Tighter spreads can also improve your chances of making a profit. When the spread is wider, it means there is a larger gap between the bid and ask price. This can make it harder to enter and exit trades at the price you want.  

 

For example, if you are trying to buy a currency pair, but the ask price is much higher than the bid price, you might end up paying more than you intended. Conversely, if you are trying to sell a currency pair, but the bid price is much lower than the ask price, you might end up receiving less than you wanted. These slight differences may not seem like a big deal, but over time, they can make a significant impact on your overall profitability. 

 

It is important to keep in mind that not all brokers offer the same spreads. Some brokers may advertise low spreads, but then widen them during periods of high volatility or low liquidity. That is why it is important to do your research and choose a reputable broker with consistent pricing.  




But how do you know if your broker is offering you competitive spreads?  



Of course, you want a broker who is open and honest about their pricing and fees, and who is willing to provide you with the tools and information you need to make smart trading decisions.  

 

And that is where our new tool comes in. At Fusion Markets, we are committed to providing our clients with the best possible trading conditions and that means being upfront about pricing and fees. That is why we designed our new Historical and Live Spreads tool.  


undefined

This tool allows traders to view the historical spreads of a particular currency pair over a specified time frame, as well as the current live spreads. This information can be incredibly valuable in helping you make informed decisions about when to enter and exit trades. No more surprises, no more hidden fees – just transparent, competitive pricing. 

 

Think about it - with this tool, you can see how spreads have fluctuated over time, and get a sense of what a "normal" spread looks like for a particular currency pair. This can help you identify when spreads are wider than usual and avoid trading during times when you might be paying more in fees than you need to. 

 

And that is not all - the historical and live spreads tool also helps to promote transparency in the forex industry. We believe that our clients deserve to know exactly what they are paying in fees, and that is why we are committed to providing this information in a clear and accessible way. 

 

If you want to maximise your profits and develop a winning trading strategy, you owe it to yourself to check out our new tool. With its help, you can trade with greater confidence, knowing that you are getting the best possible pricing and keeping more of your hard-earned profits.  

 

So, what are you waiting for? Try out our Historical and Live Spreads Tool today and see how it can help take your trading to the next level. Trust us - you will not regret it! 

 

For more detailed information about our Spreads tool download our guide. 


DOWNLOAD GUIDE

16.05.2023
Trading and Brokerage
post image main
Revolutionising Forex Trading: How ChatGPT is Changing the Game
Fusion Markets


Getting an edge in Forex trading is the golden goose every trader pines for. While there have been many technological advances that have given traders an edge over the decades, FX traders are now looking toward what is fast becoming the biggest revolution in Forex: AI, and in particular ChatGPT. A seemingly magical AI that can produce articulate and human responses to almost any inquiry.  


It looks like ChatGPT is taking over the world, one chat at a time, and it can do anything you can only imagine (besides ordering pizza, but let’s not get too greedy). So, let's dive in and see how ChatGPT and AI are revolutionising forex trading, and how you can use this amazing tool to give you an edge in the markets. 

 


Unlocking the Benefits of Using ChatGPT 


So how can the chatbot improve your trading? Let’s take a closer look at what this Forex AI is capable of: 



  • Analysing Assets 


Now, I know what you are thinking. "How on earth can a language modelled AI help me analyse my assets?" Well, ChatGPT is no ordinary language model. It has been trained on massive amounts of data, including market trends, economic data, and news events. This means that it can analyse all the factors that affect the value of your assets and provide you with insights that can help you make better-informed decisions but be careful it only uses data up until 2021.  


  

The simple example above demonstrates what kind of information the chatbot can provide on the GBP/USD currency pair. Not bad, right? Well, why do not we try and get a little more advanced. 


 

 

 

How about even more granular? 


 

 

Now we are rolling. These are all simple 2-minute entries, but you can get as deep and detailed as you want - you are only bound by your own imagination!  
 

If you would like to learn more the GBP/USD, do not forget to check out Fusion Market’s article with a detailed overview of this asset. 

 


  • Creating Scripts 


ChatGPT has the potential to assist in the development of scripts that can be utilised by automated robots for trading purposes.  


While using the chatbot to generate an automated trading strategy, you have the liberty to employ more than one indicator.  


Graphical user interface, text, applicationDescription automatically generated

 

 

The script above retrieves historical data for AUD/USD from Yahoo Finance, calculates two moving averages (SMA10 and SMA50), generates trading signals based on the crossover of these moving averages, defines trading positions based on these signals, executes trades based on a simple position sizing strategy, and plots the trading signals and positions on a chart.  


Furthermore, although Python was used in this context, you have the option to ask for scripts in alternative programming languages like MQL4 and MQL5 for the MetaTrader platforms, or Pinescript for TradingView. 


But do not get carried away by the power of technology! Please note that this script is for educational purposes only and should not be used for actual trading without proper testing and risk management. 

 


  • Providing definitions and Explanations of Forex Trading Concepts 


Forex trading has a unique vocabulary that can be confusing for beginners. Chat GPT can provide definitions and explanations of forex trading terms and concepts, helping traders understand key concepts like pips, spreads, leverage, etc. 


However, one of the drawbacks of relying on the chatbot to clarify investing concepts is the difficulty in verifying the accuracy of its outputs. Since there are no credible sources listed or citations provided, users are left with no option but to rely on the correctness of ChatGPT's responses. That is why we highly encourage you to always verify the information through multiple sources. 

 


  • Sharing Forex Trading Tips and Strategies 


Chat GPT can provide forex trading tips and strategies that traders can use to improve their trading skills. These tips can cover topics such as risk management, technical analysis, and fundamental analysis. Traders can ask questions about specific trading strategies, and it can provide detailed answers based on its vast knowledge base. 


The example below illustrates how the chatbot broke down the fundamentals of a swing trading strategy and outlined the initial steps: