Any trading platform might boast about a different key feature that it is able to provide to its customers. ProRealTime is a trading platform whose strongest key feature is the fact that it is designed to meet the needs of a trader who emphasizes technical analysis more than anything else.
It also offers various advanced tools for market analysis and charting. ProRealTime is also a top choice for traders who are looking to allocate their trading process to a software, which is otherwise known as automated trading or algorithmic trading.
In this article, we are going to discuss this trading platform and look at its key features, along with its pros and cons.
A Basic Look at ProRealTime Trading Platform
For users who are looking to diversify their assets a little bit by going into different financial markets, one of the most important decisions is picking the right trading platform.
Aside from the broker that actually facilitates your access to the market, the trading platform is your closest contact with the world of trading. There are different factors that you need to check about any trading platform before choosing it.
In addition, depending on which financial market you want to trade in, various trading platforms can offer different features suited to your market of choice.
ProRealTime has been able to make a name for itself as a leading trading platform for different financial instruments.
With all the features and functionalities that it is able to offer users, ProRealTime has been able to attract close to 1 million users worldwide.
What Are the Key Features of ProRealTime?
There are many features that have turned ProRealTime into a top choice when it comes to trading platforms. In this section we will go over some of these features:
- Variety in instruments – this is an important feature because the instruments that users are able to trade are the key to diversification. ProRealTime of course offers services related to the foreign exchange market or forex. In addition, it also offers trading services for financial instruments such as stocks, options, commodities, bonds, and CFDs.
- Searching through assets – diversification of assets is not enough on its own. This wide range of instruments should be easy enough to search through. ProRealTime has provided a platform that makes it quite straightforward to sort through different instruments.
- Charting tools – your chart is the most important source of data for any type of analysis that relates to the market right then and there. This is why charting should be part of your list of features to consider for any trading platform. ProRealTime offers excellent charting services. In such a way that at any one time the trader is able to have access to three concurrent charts that show data in the various available timeframes.
- Technical indicators – this is another aspect that is truly a key feature of ProRealTime. Even well-known trading platforms do not offer as many indicators as this platform. ProRealTime offers as many as 130 technical indicators. This enables users to analyze the market under any condition.
- Drawing tools – there are also numerous drawing tools available at ProRealTime that can help you map out the market conditions in the most precise way possible.
Fees and Commissions of ProRealTime
The basic services of ProRealTime are free for all users. But unlike some trading platforms, ProRealTime is not totally free.
The free services are only offered for off market hours. If users are looking to receive the complete data in real time, they need to purchase a plan. The monthly plan is around $37. If you purchase an annual plan the monthly payment would decrease to around $31. And for a lifetime license you would have to make monthly payments of around $25.
Advantages of ProRealTime
The key features of ProRealTime that were discussed above can also be counted toward the advantages of this platform, but there are some other features that we haven’t mentioned yet.
- The automated trading features of ProRealTime are quite advanced and it also offers services related to backtesting. The process to backtest a trading strategy or an automated trading bot such as an expert advisor is a crucial step in making sure that the strategy or the trading bot is going to work. Backtesting provides valuable data about how the strategy will perform. It is like a report card for the trading bot or strategy.
- ProRealTime enables users to trade a wide variety of financial instruments, including foreign currencies, bonds, futures contracts, options, bonds, and CFDs.
- Advanced technical analysis capabilities. This feat is achieved through the high number of technical indicators and also advanced charting functionalities that ProRealTime provides to its customers.
- You can customize and personalize this trading platform to suit your own personal taste and needs.
- Although there are different licenses that can be purchased, the free version of the trading platform is also quite useful and beneficial.
- This trading platform is not only compatible with conventional devices such as desktop and PCs. ProRealTime is also offered on a mobile version for Android and iOS users.
Disadvantages of ProRealTime
ProRealTime has many features that are better than even some of the biggest names out there. For instance, in terms of the number of technical indicators that it offers, it really stands out as a trading platform.
However, there is one major point that we can see underperformance in the trading platform ProRealTim. While many trading platforms offer their services completely free, the free version of the ProRealTime is pretty limited and if you want to use this platform to the fullest you will have to pay.
Broker Coverage of ProRealTime
Some brokers offer their own trading platform. But some trading platforms are only trading platforms!
This means, you need to find a broker that supports your trading platform of choice. So if you have chosen ProRealTime, you need to know that brokers such as Interactive and IG support this trading platform.
ProRealTime is a smaller name compared to some of the bigger ones in the market, but this trading platform offers excellent services that set it aside from other brokers. This includes advanced analysis tools that include more than 100 indicators and also cutting-edge charting tools that help you see market data.
However, the free version of this trading platform has limitations in its use and the amount of data that it can provide to the users. So if you want to use this platform for the long haul, you have to buy it. Additionally, it is not compatible with a large number of brokers. So keep these points in mind if you are thinking about choosing ProRealTime as your trading platform.