March 08, 2021
Regardless of which financial instrument a person is trading, having access to quality trading and charting software is essential. Without this, analysing price movements and planning and executing trades would be next to impossible.
These days, MetaTrader 4 and 5 are the most widely used platforms around, and are considered the gold standard by many professional and hobbyist traders.
However, there are several alternative options that some market technicians prefer, and ProRealTime is one of them. ProRealTime only works with three exchanges: IG, Interactive Brokers and Saxo Bank.Visit Broker Site
What Does ProRealTime Offer?
ProRealTime is a powerful trading platform that currently serves just under 900,000 users and claims to add approximately 400 new traders every day. On top of this, ProRealTime offers traders access to a wide selection of financial instruments and markets, along with top-quality charting tools.
- Forex currency pairs (47 major and minor pairs and over 100 exotic pairs)
- Gold & silver
- CDFs (where legal)
- London Stock Exchange
- NASDAQ stocks
- NYSE stocks
- Most major indices (Dow Jones, S&P 500, Euronext indices, German indices and ETFs, and many more)
- CME futures and options
- German stocks
- Italian stocks
- Spanish stocks
- French futures and options
Charting Tools/Trading Functions
- Over 40 drawing objects
- Over 100 technical indicators
- Powerful screening tools
- Autotrading capabilities
- Backtesting for trading bots and algorithms
- Custom indicators
ProRealTime currently offers three different account options ? two paid and one free. As we will see, the free version is very limited in use, but both paid versions offer a high degree of functionality.
Free account: A free account gives traders access to the ProRealTime Complete account, a ProRealTime Mobile version, and end-of-day market data. The free account’s major limitation is that traders do not have access to live market quotes and instead must make do with end-of-day market data.
ProRealTime Complete account: The first of two paid plans, the Complete account gives traders access to a powerful trading ecosystem that includes advanced features such as:
- Real-time market quotes
- Instant order execution
- Paper trading with a demo account
- Over 40 drawing objects and over 100 technical indicators
- Auto Trading and backtesting support
- A variety of order book interfaces
ProRealTime Premium account: The Premium account gives traders all the tools and functionality of the Complete account, but with some of the added features required by high-volume traders.
- Traders can display up to 10 lists of financial instruments at the same time
- Traders can display up to 100 different charts at the same time
- Capacity to run 100 automated trading systems at once
- Increased support and options for backtesting
- Highly customisable charts
- Up to four times as much historical data
Subscriptions for both accounts fluctuate in price depending upon the number of months a trader is willing to commit. The following chart will give a breakdown of pricing tiers for both the Complete and Premium accounts:
|Less Than 13 Months||More Than 13 Months||More Than 37 Months||Six Months Prepaid||One Year Prepaid|
IG customers who make four or more trades a month will be happy to know that they get access to the ProRealTime Premium software for free.
Unfortunately, some readers may be disappointed to find out that the above prices only grant traders access to the forex and cryptocurrency markets. Those who want to trade other financial instruments, such as stocks, bonds, futures and commodities, will need to purchase monthly add-on packages, some of which can run as high as $11.25 a month.
Along with different market and instrument packages, ProRealTime also offers financial news services, which will cost the user an extra $48.75-$61.25 a month, depending on the option chosen. As of now, there are three options:
- Financial News Package: Equities
- Financial News Package: Forex
- Financial News Package (Non-English): Equities
ProRealTime has a tiered fee system, and the more round trip trades a client makes a month, the less they will pay.
|Trades Per Month||Fee Per Order||Minimum Order|
|Less than 15||0.5 base points * Trade Value||?2.50|
|15-29 trades per month||0.4 base points * Trade Value||?2.50|
|30 or more trades a month||0.3 base points * Trade Value||?2.50|
ProRealTime is the public name of ProRealTime SAS, an investment company approved and regulated by the French Financial Authorities (Autorité de Contrôle Prudentiel et de Résolution / Banque de France).
Because ProRealTime is simply a trading platform, most of the regulation falls with the broker using the software, which in this case will be IG, Interactive Brokers, or Saxo bank.
ProRealTime offers traders an advanced trading platform and access to a wide array of financial instruments and markets, and it is a strong candidate as an alternative to MetaTrader 4 and 5.
On the downside, a ProRealTime subscription is more expensive than other trading platforms, and traders looking to buy and sell stocks and other financial assets will have to pay extra to gain access to these features.Visit Broker Site