ProRealTime’s high quality charts, analytic tools and reliable market data received directly from the exchanges make it a powerful decision support tool.
The stock market is probably one of the best places to earn extra money. Most people have money but never find the right ways to invest.
Since the stock market was introduced, it has presented itself as a platform where anyone can put their money and reap big.
But the truth is that the stock market isn’t for everybody. Just like any other investment opportunity, it takes dedication and a lot of commitment to succeed.
Of course, anyone can trade in the stock market but what matters most is what you are getting out of it.
If you have ever traded in the stock market, then you understand how important it is to have the right strategy in place.
You need a platform that will increase your chances of earning big. As a trader, I have tried several platforms and I can often tell which one works and which one doesn’t.
When I was told about ProRealTime, I thought it was no different from most of the platforms I have previously used. But with time I came to realize that it is one of the best trading platforms.
From its features to daily insights, it can be a great companion for any trader.
ProRealTime is a renowned technical analysis software that allows automatic trading and different other assets.
Currently, the platform has over 825,000 users around the world, according to the company. This is probably because it is mainly used by brokerage firms such as Interactive and IG brokers.
ProRealTime services are free. Users can access the platform’s automation features, historical data, carting tools, and many other services free of charge. But wait, there is a catch.
Those using the platform for free can only access information about stock prices when the stock market is closed.
However, to get real-time information about the stock market, users are charged $36.55 monthly. The price drops to $31.07 monthly for those subscribing for over a year and drops further to $25.58 if you sign up for three years or more.
It is important to note that the above prices are only for the forex data. That means data or information for futures and stocks is sold separately.
For example, NYSE and NASDAQ data are sold at $10.98 every month whereas data for the London Stock Exchange will cost you and extra $28.18 monthly.
The platform also has a premium subscription service, which charges more for all the services mentioned above. Those on premiums subscription however enjoy personalized support. ProRealTime also allows users to form charts groups and conduit simultaneous automated trading.
Features of ProRealTime
ProRealTime has a variety of features, designed to simplify the user experience. Below are some of them.
One of the main advantages of ProRealTime is that it allows automatic trading of a wide range of assets, as well as analysis. It is not only used for forex and stock trading but also for commodity futures, options, contracts for difference (CFDs) and bonds.
Considering the amount of data found in the platform, users are able to easily access whatever assets they are searching for. There is a simple search button above the charting interface together with a panel that lists all the available instruments.
2. Indicators and technical charting
Technical charts are at the center of ProRealTime. The software automatically shows three different charts, that represent one asset. This is deliberate, to make it easy for traders to monitor timeframes in a simultaneous manner.
There are 130 in-built indicators, that can easily be customized by users. In other words, it is possible to change almost everything, from parameters to the display color on the chart.
Several drawing tools such as Fibonacci retracements, head and shoulder patterns, channels, and Triangles are also available. It is also possible to set price alerts using the drawing tools.
Interestingly, the platform has an option where users can generate their own indicators. But this can only be done using the in-built code editor.
The software has a modern market screening tool, that makes use of a large number of indicators within the platform. There are a few predefined screens but alternatively, traders can build their own custom screens using a wizard-like tool available on the platform.
4. Automatic Trading and ProBacktesting
One of the main reasons most investors subscribe to ProRealTime despite being expensive is because the system supports auto trading.
The software allows users to create strategies through the ProRealTime code builder or by combining various indicators. After creating your strategy, you can then use the ProBacktest module to backtest.
The backtesting tool is advanced in the sense that a user is able to define trade spreads and commissions, to determine how profitable the strategy they have chosen is. This allows them to fine-tune, in case they realize the strategy is not very effective.
5. Customization and layout
ProRealTime provides a standard amount of customization. One of the things I have learned since I started using the platform is that the software is able to recognize the resolution of your screen and allows you to alter its magnification. It might sound obvious, but it makes the platform user-friendly.
It is also important to note that ProRealTime works perfectly both on Android and iOS gadgets. Although you will get the same charts, it can be frustrating to use ProRealTime on a smaller screen.
The only advantage of using the mobile app is that you get price alerts from time to time on your smartphone.
Brokers that use ProRealTime
ProRealTime is a great platform for conducting technical analysis. It sets itself apart from its peers such as Thinkorswim, by providing a wider variety of assets.
Another advantage is that unlike Thinkoswim that’s designed for the US stock market, ProRealTime supports CFDs, Commodities, and many global stocks.
Automation and backtesting are some of the features that also differentiate ProRealTime from other platforms. The software has some of the most sophisticated backtesting tools.
What I love most about the platform is that I am able to customize my trading strategy using several indicators. I can also use multiple strategies at ago based on the information and indicators within the platform.
Who is best suited to use ProRealTime software?
ProRealTime is ideal for advanced and experienced traders, who are able to take full advantage of the platform’s automation and backtesting features. When data feeds are factored in, the platform can be really expensive.
Nonetheless, ProRealTime’s free subscription version provides important information about the market, at the end of each day. Traders can still use that information, to make informed decisions in the stock market.
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