MT4, MT5 and cTrader: which to pick
What you learn in 3 minutesThis lesson compares MetaTrader 4, MetaTrader 5 and cTrader. It shows how the same USD/INR trade is entered on each, and why the platform choice matters less than the account type behind it. You will see where a cost of ₹10 per pip on one standard lot appears on each screen.
One USD/INR trade, three order tickets
| Step | Amount | Note |
|---|---|---|
| Instrument | USD/INR | The pair being traded; price around 83.2500. |
| Volume field | 1.00 lot | MT4 and MT5 label this as lots; cTrader may show units, where 1.00 lot equals 100,000 units. |
| Entry price field | 83.2500 | The price you type or accept; it varies with the quote. |
| Stop-loss field | 83.2400 | A stop 100 points away; on USD/INR one pip is 0.0001, so this is 10 pips. |
| Pip value shown | ₹10 per pip | One standard lot is 100,000 units; 100,000 x 0.0001 = ₹10. |
| Cost of the stop | ₹100 | 10 pips x ₹10 per pip. |
Brokers may round the pip value, add spread, commission or swap, and quote a slightly different price. These charges vary between brokers.
The mistake people make here
People often pick a platform because a friend uses it, then open an account without checking the instrument list, the order types or the fee report. MT4, MT5 and cTrader differ in what they show and how they handle orders, but the account type controls the spread, commission and leverage. Read the contract specifications and the fee page before funding. If the platform feels wrong later, you can change it; the account type is harder to change.Check yourself
On one standard lot of USD/INR, what is the pip value in rupees?
₹10. One standard lot is 100,000 units, and one pip is 0.0001, so 100,000 x 0.0001 = ₹10.
If you set a stop 25 pips away on 1.00 lot, what is the loss in rupees before costs?
₹250. 25 pips x ₹10 per pip = ₹250.
A platform shows volume in units instead of lots. How many units is 0.10 lot?
10,000 units. 0.10 x 100,000 = 10,000.