Pepperstone cTrader review: Hands-on look at the Pepperstone cTrader platform

Pepperstone Forex Trading (Razor Account)
Pepperstone Forex Trading (Razor Account)
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The cTrader platform layout is highly-functional with fast, seamless and reliable execution.

Pepperstone is one of the largest and most trusted forex brokers in Australia. By offering both the cTrader and MetaTrader 4 (MT4) platforms, no matter your trading style or strategy, you can be assured that they have a trading platform that fits your needs.

In this Pepperstone cTrader platform review, I've gone over the powerful alternative to MT4 and shown why many forex traders are making the switch.

Disclaimer: Trading in financial instruments carries various risks, and you can lose more than your capital. This article may contain general advice. You should always seek professional advice when deciding if a product is right for you.

Key features of the cTrader platform

Pepperstone's cTrader platform isn't as well-known as the popular MetaTrader 4 and MetaTrader 5 platforms, but I want to highlight some of the platform's features and functionality.

Wide range of asset classes

The Pepperstone cTrader platform offers traders a diverse selection of asset classes to choose from, including forex, commodities, stock market indices and cryptocurrencies. There are over 90 different markets to trade, which is more than enough for your average trader.

Market finder tool

Within cTrader, there is a handy feature called the market finder tool. Found on the left hand side of the screen, it's essentially a search bar where you're able to simply type the name of the market that you're looking to trade (for example EUR/USD or Gold).

You're then able to easily look over all of the available related markets to trade and pick the one where you see the best opportunity. There are many types of contracts (spot, futures, options) so it's important to know which one to choose before you take a position, as this can affect the success and volatility of your trade.

The market finder tool on the Pepperstone cTrader platform.

(Source: Pepperstone)

Simple charts

The charts on the Pepperstone cTrader platform are quite basic compared to the likes of TradingView, MarketDelta and ProRealTime, but their simplicity means that anyone can use them.

User-friendly tools

Although limited, the drawing tools for trend lines, support and resistance, and fibonacci retracement (these are all well-known trading tools) are simple and easy to use and the default colour scheme is great.

The colour scheme is also easily customisable, so if you don't like a black background on your charts, then there is a simple switch on the top right for the lighter (white) scheme.

Advanced analysis tools

The cTrader platform offers candlesticks, line, bar and dot charts. Candle charts are the most popular but the others are just as simple and easy to use. You can also find lots of chart customisation options when you right-click on the charts.

You can add all the usual indicators including the ever-popular relative strength index (RSI), moving average convergence divergence (MACD) and moving averages. There are also options to change the colours of the chart and the lines and if you're a social media whiz you can even take snapshots of your work.

If you're interested in learning how to trade using some of the indicators available on the Pepperstone cTrader platform then it is worth checking out our guide featuring strategies for CFD and forex traders.

The advanced analysis tools on the Pepperstone cTrader platform

(Source: Pepperstone. Drawing tools on the right.)

Highly functional layout

My favorite part of the cTrader platform has to be the functionality of the layout. You can keep an eye on your trades via the bottom panel, look for more with the finders section and have charts open all on the same screen. The execution is seamless and as far as my tests are concerned, Pepperstone's execution through the platform is fast and reliable.

Security of funds

In terms of regulation, choosing to trade on the Pepperstone cTrader platform is a safe choice. Pepperstone is registered with two regulatory bodies, the Australian Securities and Investment Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the UK. As a result, all client funds must be held in a segregated account with NAB or Barclays.

The cTrader platform is known for not giving the broker the ability to requote trades. As Pepperstone are an ECN/STP (straight through processing) forex broker, then by trading through their cTrader platform, you can be assured that your orders are going directly into the market and not being manipulated on the broker's end.

Spreads and charges

The spreads on the Pepperstone cTrader platform are some of the tightest in the industry. While some of the specialised forex brokers such as Vantage FX come close, Pepperstone consistently sets the benchmark when it comes to low spreads.

The Pepperstone Razor account, designed for advanced traders who trade bigger trade size and volume, is where the lowest spreads can be found. Keep in mind that you will however pay a commission on trade, so if you're trading smaller size, then it might be worth your while trading on their standard account.

How does the cTrader platform compare to its rivals?

When comparing the Pepperstone cTrader platform, it's worth putting it side by side with the highly popular MetaTrader 4 platform. Pepperstone actually gives you the choice to trade on cTrader or MT4, so here's how I think cTrader stacks up.

MetaTrader 4 and MetaTrader 5

Nearly every major forex broker in the world offers to MT4 and MT5 trading platforms. Pepperstone is no different here and the sheer popularity of these legacy platforms within the retail trading community, speaks volumes about their usability.

MetaTrader 4 may appear slightly more intimidating to a new trader compared to cTrader, but it is highly functional and being able to trade directly off the charts is simple and effective. Charting analysis on MetaTrader is also powerful and it definitely has more options for customisation than cTrader thanks to the ability for traders to search and download custom MT4 indicators and expert advisors.

It's worth noting that as the Pepperstone accounts are the same, there is little to no difference between spreads when you choose to trade on cTrader or MT4.

Overall I feel the Pepperstone cTrader platform is a quality choice for both beginners and advanced traders. When you consider Pepperstone has a low initial deposit level of $200 and a minimum trading size of 0.01 lots (on EUR/USD), it seems anyone will be catered for. I would like to see more market news and analysis to help with trading decisions, but other than that the cTrader platform, execution and customer service from Pepperstone are all up to scratch.

How do I apply for a Pepperstone cTrader account?

Signing up for an account to use cTrader with Pepperstone is simple. Just follow the 'Go to site' button at the top of this page and open an account in minutes. If you're not ready to start trading yet, you can check out our full Pepperstone review, or compare forex trading platforms using the comparison table on our main forex guide.

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