Protrader is one of the most powerful trading platforms Forex traders can use these days. Thanks to the functionality and efficiency of the platform, you will be delivered an easy and at the same time, intuitive trading experience that has all the capabilities professional traders are in need of. Due to its advanced features, any trader can integrate their Forex portfolio without any problems.
The good news here is the Protrader platform has a great user-friendly interface. It is fully customizable which allows users to rearrange it and tailor it to their preferences. At the same time, it will meet their specific needs in terms of trading styles and markets. Experienced traders have the chance to enjoy a full range of tools.
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Who Created Protrader?
Protrader was designed by a team of highly competent trading experts from Ukraine. The company behind the platform, PFSOFT, started out in 2003 with one clear task in mind, to create a cutting-edge platform that facilitates trading with a broad range of financial instruments.
Following the launch of Protrader, PFSOFT expanded its operations to some of the world’s largest financial markets. It presently caters to retail brokers, banks, and prime brokers in Japan, Australia, the USA, China, Canada, the UK, New Zealand, South Africa, and Russia.
PFSOFT provides its clients with deployment services and technical support. The company’s platform enables trading across multiple classes of assets, including Forex currency pairs, stocks, forwards, contracts for difference (CFDs), and options.
The Protrader Interface
Protrader has an attractive interface that is sophisticated and intuitive at the same time. More importantly, the interface is completely customizable, allowing users to adapt the entire trading experience to their personal preferences and style.
There are different table filters traders can use to customize their working space. Creating your own platform features is made possible by the customizable toolbar. Users can make their workspace unique and easy on the eye by adjusting the layout’s colors.
Furthermore, the dockable layout system incorporated into Protrader allows them to create and save many different workspaces. Switching from one trading environment to another is easy as pie. There is no limit on the number of workspaces traders can create.
Types of Orders Supported by Protrader
Protrader offers nice versatility in terms of supported order types. Each order type is intended for use in specific market conditions. The platform gives you a choice from Market, Limit, Stop, and Trailing orders. We offer brief explanations of each order type below.
- Market orders are the most common type of order in trading. With this order, the trader basically sends their broker an instruction to open a long or short position at the best price that is currently available for a given market.
- Limit orders are also available via the Protrader platform. With Limit orders, the trader determines the minimum and maximum market price at which they want to buy or sell the respective asset, be it a currency pair, a stock, a commodity, and so on.
There are two subtypes of limit orders. The first one is the Buy Limit which is used if the trader is looking for the best possible price when they expect an asset’s value will drop before it increases again. Sell Limit orders have the opposite function and are used when one expects the asset’s price will increase before it drops.
- Stop orders (also called Stop Loss orders) are typically utilized as a means of protection against incurring substantial losses although it is also possible to use them to safeguard your profits when selling short. With a Stop order, the trader instructs their broker to open a long or short position when the asset’s price escalates to a certain value. Said value is known as the Stop Price. When this occurs, the Stop order turns into a Market order.
- The Trailing Stop order is also a subtype of the Stop order. You use it when you want to lock up your profits from a given trade. At the same time, Trailing Stops enable you to cap your losses if the markets move against you.
Advanced Standout Features in Protrader
The user-friendly interface renders Protrader a great option for beginners but the platform is also appropriate for experienced traders thanks to its suite of advanced trading tools. These are intended to enable intelligent decision-making and in-depth analysis.
- The Market Depth tool enables users to track the flow of orders and market sentiments. It also shows traders Level 2 and Level 1 quotes along with integrated order entry. The Market Depth feature gives users of the platform valuable insights about pricing and volumes on either side of the respective market.
You get to see actual earnings and losses along with average prices and position quantities. This is a very useful instrument for experienced and professionals traders who handle larger volumes of currency pairs, futures, stocks or other financial instruments.
- Trading via charts is also supported by Protrader. It allows traders to initiate their orders with a single click on a chart. To use this functionality, you only need to place your mouse cursor directly on the price value you wish to buy or sell an asset at.
Then you click on the value to reveal the buttons for the different types of orders. This function enables the speedier management of your positions. You can modify your order parameters or open or close trades with a single mouse click. The platform contains seven different styles of charts.
- The AlgoStudio module is implemented for programming purposes and backtesting of different algorithmic strategies. It is based on the C# programming language. The module encompasses a set of features for strategy scripting, optimization, and debugging. Users will also benefit from walk-forward testing and detailed real-time statistics to see how different strategies perform.
- The Time and Sales feature is a professional tool for analytics. It communicates information about the trades you make along with Level 1 quote data. Time and Sales is a particularly powerful instrument for traders who have adopted the tape reading technique, used for analyzing market data based on volume and pricing.
- Basket trading is another unique feature available via the Protrader platform. It enables traders to save specific order properties into a “basket” for future use. This function makes it possible for Protrader users to execute entire predetermined sets of orders with one click of the mouse button. It also enables you to open positions for multiple assets simultaneously. You can assign lot sizes for your orders with great convenience and ease.
- The Scalper panel is the ideal solution for users who open positions frequently and focus on short-term results. It offers full functionality including Time and Sales information, single-click trading, and tick charts overlaying, among other useful features.
- Technical indicators are available in spades in Protrader to the benefit of people keen on analyzing market trends and price action. These can be highly valuable assistants when it comes to estimating market sentiments.
- The Option Master is geared toward the needs of users who prefer to trade on the options market. It enables them to accurately evaluate option positions, plot different option profiles and tailor their changes depending on different market factors.
- The Portfolio functionality is particularly helpful to people who utilize portfolio strategies when trading. This technique is also referred to as program trading. The feature makes it possible to create charts based on your trading portfolio. The entire portfolio can then be traded as one asset.
Versions of the Protrader Platform
The Protrader platform is available in several different versions. Each of those is intended for use on a specific operating system and device type. Microsoft Windows and Mac users can download and install the software on their computers at no cost.
Traders who use Linux can take advantage of the browser-based version of the software, Protrader Web. Mobile users are catered to with easy-to-use dedicated applications for Android and iOS that provide them with quick and convenient access to the markets on the go.
Downloadable Protrader for Windows
The downloadable version of Protrader for Microsoft Windows is not your ordinary trading platform. It provides powerful tools for advanced trading with an intuitive customizable interface that will appeal to veteran traders and novices alike.
The platform is highly functional, allowing users to execute low-latency trades across a wide range of markets. It supports useful functionalities like trading with multiple assets, risk management, and in-depth market analysis.
Windows users get the chance to devise and run different algorithmic strategies. Algorithmic trading is available thanks to the unique AlgoStudio module we talked about earlier.
Chart trading is also possible, with traders having a choice from a nice set of fully customizable chart types. This increases the convenience and speed of the entire trading process. All of these features help create a bespoke trading environment for Protrader users.
Downloadable Protrader for Mac
The Ukrainian fintech company has also deployed a dedicated downloadable version of Protrader for Mac computers. The Mac-compatible platform was written in the Swift programming language and made its debut in the second quarter of 2017. The terminal makes it possible for users to create demo accounts for testing purposes.
The Mac version contains capabilities that allow you to trade across many different classes of assets, ranging from currency pairs and leveraged products like the CFD to futures, equities, and exchange-traded funds. Spread betting is supported as well.
The Mac-compatible Protrader is also equipped with a handful of advanced features that work to the benefit of more seasoned investors. The developers have put a heavy emphasis on order management and chart trading.
Thanks to the Market Depth feature, you have all the vital information about the prices on either side of the markets at a glance. Protrader for Mac also supports trading with a single mouse click, which is a favorite feature of many retail traders.
Some traders are unwilling to deal with the installation of additional software while others use desktop computers that are incompatible with the downloadable version of Protrader. Either way, the solution is Protrader Web. This a light and intuitive web-based application developed with the help of the HTML5 technology.
Protrader Web is compatible with a wide range of browsers, including the most commonly used ones like Firefox, Safari, Opera, Chrome, and Internet Explorer (8 or later). The range of tools and features of the web version will satisfy the needs of all traders, from beginners to veterans.
The browser-based workspace is fully customizable thanks to the dockable layout. This makes it possible for traders to tailor the workspace to their needs and preferences. You can tab different panels into groups to save space. Switching between instruments is very hassle-free.
Protrader Web users will also benefit from Market Depth, Level 2 price quotes, various features for charting, and the Time and Sales panel we talked about earlier. The platform is equipped with over fifty technical indicators traders can use for market sentiment estimation.
Protrader for Smartphones and Tablets
The platform also comes in two mobile versions, compatible with smartphones and tablets running on iOS and Android. Traders interested in handling their positions on the fly can download the dedicated mobile applications from Apple’s App Store for iPhones and iPads or the Google Play Store for Android-based devices. Both apps are available for free download.
They give you instant access to your trading portfolio and history from all locations as long as you have a decent Internet connection. The apps facilitate convenient trading with currency pairs, futures, stocks, and contracts for difference.
Mobile users have access to a rich suite of great functionalities and advanced trading tools. The Pocket Assistant is easily one of the most useful features here. With its help, traders can receive reports and information about their trading activities on demand, based on their overall account performance.
The apps offer tons of charts and sophisticated technical indicators along with monitoring and drawing tools for precise analysis. The mobile versions also provide access to all the relevant news events you need to know about to keep abreast of the financial markets.
When armed with such functionalities, mobile traders can easily forecast movements on the markets and make intelligent decisions about their orders. Best of all, the intuitive mobile interface delivers easy, quick, and hassle-free navigation on the go.
Protrader Multi-Connect Platform (PTMC)
Protrader Multi-Connect is another powerful platform designed by the creators of the original Protrader software. It enables users to trade all major financial instruments like CFDs, Forex pairs, stocks, options, bonds, and futures. It offers a versatile range of analytical and charting tools, designed to fulfill the highest expectations of demanding traders.
It was launched in 2015 as a standalone project of the company and quickly attracted the interest of traders worldwide. The platform’s community currently spans over 10,000 market participants, from developers to retail traders.
PTMC is rich in useful features including dockable panels, adjustable timeframes, multiple workspaces, real-time news, a versatile suite of technical indicators, chart trading, and intelligent drawing tools.