MT4 and cTrader are often compared in terms of interface and basic functions, and who is better at risk management?？

Online trading coverage continues to expand, with millions of traders joining the market every year, most of whom are interested in trading because of relatively low start-up capital requirements, high potential profits, and the ready availability of the market (available 24 / 7 on weekdays).。Especially since the start of the neo-crown epidemic, many are looking for additional income that can be earned at home。

Despite the fact that the number of Forex brokers has increased year by year, the retail trading space is still dominated by two trading platforms that are not very competitive, namely the MetaTrader series and cTrader.。MetaTrader 4 is still the most popular platform on the market, and it is often referred to as the "standard" platform for Forex traders.。

But even so, this does not mean that MT4 is the best choice for everyone in all aspects. Each platform has its advantages and disadvantages, so it is necessary to compare different trading platforms before trading。One of the important things to consider is the risk management system provided by the platform, after all, foreign exchange trading is a risky business, so protecting funds should be one of the top priorities。

Therefore, we will compare the risk management tools between MT4 and cTrader and see how to use them to our advantage。

MT4 Managing Risk

Although MT4 is known as the most commonly used and popular trading platform in the foreign exchange market, it obviously does not provide many advanced features to help traders minimize trading risks when placing orders。MT4 allows traders to set stops and take profits at predetermined levels, and can make a certain degree of custom trailing stops, but other than that, there is nothing traders can do。In other words, it is necessary to rely on manual calculation of trading risk, which, if not calculated correctly, could lead to extreme losses and loss of our entire account balance。

cTrader Management Risk

Surprisingly, cTrader provides more risk management tools than MT4, which means we can focus more on analyzing the market instead of emphasizing position size to minimize risk。

First, the platform will always show potential risks even before placing an order。Even for the simplest market order, you can set a stop loss and find out everything you need to know before entering the market. You can also adjust the amount of potential losses to match risk and currency negative profits。Just scroll down to the quantity box to view the overall potential transaction, and you can see all the information you need, including the total point value, the risk amount of the two currencies, the commission required, and the equity percentage risk. This feature allows us to better Prepare for trading。

In addition to allowing users to set and adjust stop loss and take profit levels fairly easily, cTrader also allows traders to set these levels directly from the chart。Traders can modify positions by double-clicking in the pop-up box as in MT4, but the pop-up window in cTrader is completely detachable。This enables traders to increase or partially close positions while analyzing positions by using separate charts with different time frames and indicators。

If you find yourself on the wrong side of the market, cTrader can choose to open a reverse position, which means closing the current trade and opening a new trade with the same lot in the opposite direction。At the same time, you can also choose double positions to increase the overall number of transactions and profits.。If you need more protection, you can also use advanced protection and move your stop loss to the break-even point。

Finally, cTrader has a feature called "fast trading," which allows traders to automatically open positions with predetermined maximum slippage, stop loss, take profit and trailing stop loss。This of course saves time and allows traders to trade on the terms they like without having to set parameters every time。Conveniently, all of the above features are available on the desktop, web, and mobile versions of cTrader。

Conclusion

MT4 may still dominate the market for now, but that doesn't mean the platform is flawless in every area.。In terms of risk management, cTrader definitely has the upper hand because it provides more functions that can help traders better manage risk。This is important because Forex trading is very risky and the market can be extremely volatile at times。

However, keep in mind that while risk can be avoided by using good risk management tools, there is still no 100% guarantee that you will not lose money on your trades。In addition, if the risk management scenario does not require any advanced settings, using MT4 is sufficient。