Metatrader 4 vs ProRealTime: head-to-head comparison of tools, costs, and features

Enrique Valls
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Enrique Valls
Enrique holds the position of Investment Manager Europe & Latin America at Rankia. He has been investing in the stock market for over 12 years and likes to invest in large companies at a good price using the "52-week low" method. He buys to th... Full Bio
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July 12, 2023
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MetaTrader 4 and ProRealTime are some of the most popular trading platforms in the world. If you are new to trading, or you want to find out the best one for your needs, read on to find our comprehensive comparison of MetaTrader 4 vs ProRealTime.

ProRealTime vs Metatrader 4: which one is the best?

 ProRealTimeMetaTrader 4
🖥️ Available BrokersInteractive Brokers – visit the broker
IG Markets
Saxo Bank		Eightcap – visit the broker
ActivTrades – visit the broker
XTB
IG Markets
Pepperstone
💰 CostsDepends on brokerDepends on broker
📈 ProductsSaxo Bank – Futures, stocks, forex
Interactive Brokers – Futures, stocks, forex
IG – CFDs, forex		CFDs only (particularly best for forex trading)
🕹️ Demo accountYes (for 2 weeks)Yes

ProRealTime

ProRealTime is an online trading platform specialising in market analysis, developed by the company IT-Finance. This multi-broker platform can be used with brokers such as IG and Interactive Brokers and has complete charts, over 100 indicators and a wide toolkit of technical analysis.

As for the products you can trade, you can find stocks, futures, forex, CFD and commodities.

Also, you should know that ProRealTime is free but access to real-time data is available for a charge. In other words, the software is free but contains data updated at the end of the day (not in real-time).

MetaTrader 4

MetaTrader 4 is a widely used forex trading platform by forex traders all over the world. MT4 was created for Windows computers, Mac OS X and Linux and for iOS and Android mobile devices.

MT4 is one of the most popular trading platforms with a highly customisable interface. It is renowned for its analysis tools, particularly those catering to the needs of forex traders.

Furthermore, MetaTrader 4 is a fully autonomous platform that is not tied to any specific trading broker. Just like with ProRealTime, you need a brokerage account to execute trades on the market.

Broker comparison: ProRealTime vs MetaTrader 4

In the UK, you can get access to ProRealTime via three brokers:

MT4 is a platform particularly suitable for trading forex, but there are multiple broker choices, including:

MetaTrader 4 vs ProRealTime: order types

 ProRealTimeMetaTrader 4
Types of orders– At market
– Limit orders
– Stop orders
– Trailing stop
– Market if touched 		– Market orders
– Limit orders
– Stop orders
– Stop-loss orders
– Take profit orders

ProRealTime vs MT4: summary

The ideal trading platform is the one that aligns with your specific needs. As a novice trader, you have the flexibility to try out multiple ones until you find the right one for your needs.

However, it is crucial to conduct thorough research and practice extensively using demo accounts before finalising your choice of trading platform and broker. This approach will enhance your comfort level and equip you with the necessary skills to navigate the markets.

Here, we present a compilation of key advantages and disadvantages of the two platforms:

👍 ProRealTime Advantages👍 MetaTrader 4 Advantages
Available for computers, tablets, mobile phones. Wide variety of technical indicators.
It has more than 100 technical indicators.It can be downloaded and used for free.
It is a very intuitive and easy to use tool.Custom analysis tools.
👎 ProRealTime Disadvantages👎 MetaTrader 4 Disadvantages
Must pay for real-time data. Not an intuitive design.
Not many brokers to choose from (only 3 in the UK)Not intuitive design.
In the demo account, after two weeks, a new account must be created.Limited asset offering (best for forex only).

Trading platforms alternatives

FAQ: Metatrader 4 vs ProRealTime

Is Metatrader 4 or ProRealTime better?

In general, MetaTrader 4 is more suitable for forex trading, while ProRealTime, on the other hand, is more suitable for multi-asset trading strategies.

Can you trade directly from the charts?

Yes, both with ProRealTime and MetaTrader 4 you can place trades directly from the charts.

Is MT4 more affordable than ProRealTime?

MT4 is widely known for its cost-effective nature, as many brokers offer the platform to their clients free of charge. This means you can access and use MT4 without incurring any additional fees or subscription costs.
On the other hand, ProRealTime typically operates on a subscription-based model, which means users are required to pay a fee to access its advanced features and real-time data.

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