The MetaTrader 4 & 5 platforms have been the dominant trading platforms for a number of years now, but increasingly traders are looking towards other trading platforms. ProTrader is one such platform which is beginning to gain traction, with the hopes of stealing market share off the larger more established trading platforms. The ProTrader platform is highly customisable and also has a level of compatibility with the popular M4QL programming language, a feature which will appeal to the large community of traders who use Expert Advisor’s to trade the markets. In this article we take a look at the ProTrader platform and examine how it compares to some of the other trading platforms available.
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The ProTrader platform is highly customisable allowing traders to set up their trading terminal as they wish. The platform also comes with two default colour schemes which the trader can switch between depending on their preference. Their is also the ability to create a number of different workspaces, allowing you to easily switch between views. The platform comes pre-loaded with two workspaces (Beginner and Professional) these workspaces allow you to dive straight into using the platform without setting up your own custom workspace. The only criticism I have of the ProTrader platform is that the charting area can become quite small if you opt to use a lot the platforms features at once. The design of the ProTrader is sleek and is pretty comparable to some of its competitors. The platform feels very professional and is reminiscent of the kind of software you might find running on bank’s trading floor.
The ProTrader platform is pretty comprehensive when it comes to functionality, with the platform having all the functionality one would expect from a multi-asset trading platform. The platform boasts over 60 different technical indicators and allows traders to create custom time frames. When it comes to charting it is also possible to overlay multiple charts, with the platform also boasting a good tick data chart. The platform also has some impressive Depth of Market (DOM) functionality, allowing traders to one click trade from the Depth of Market matrix. Having Depth of Market features built into a platform is something that traders are increasingly demanding, with ProTrader’s DOM features being superior to those of the MetaTrader 5 platform.
I can see ProTrader going down very well with experienced traders, the platform might be a little bit too much for those who are new trading.
The ProTrader platform is compatible with trading scripts written in both C# and the M4QL languages, this will allow for traders to use scripts they have already written with the ProTrader platform. With the vast majority of trading programs being written in either C# or M4QL, this feature will certainly appeal to those who already have a library of trading programs. In addition to being able to use M4QL and C# scripts with the platform, users are able to write and test their own trading scripts. The platform can also be used to back-test these trading scripts using tick data and imported history data. The ProTrader platform can therefore be considered a pretty serious alternative to the MT4 and 5 platforms when it comes to automated trading, with the platform supporting both the M4QL and C# languages. In fact developers from ProTrader claim that their platform is actually superior to MT4 when it comes to running M4QL scripts.
Currently, the list of brokerages offering the ProTrader platform to their clients is pretty limited with none of the major retail FX brokerages currently offering the platform. Slowly the platform is beginning to gain traction with brokerages and you can expect to see an increasing number of brokerages beginning to offer the platform.
The ProTrader platform is a very impressive effort which I can see many traders appreciating. The developers of the platform have really thought about how to design a comprehensive platform which appeals to serious traders. The only thing which appears to be holding ProTrader back from becoming a major contender is the lack of brokerages which currently support the platform, until a wider range of brokerages begin offering the platform to their clients. Those interested in an alternative to the dominant MetaTrader platforms should certainly look into ProTrader.