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Best Protrader Forex Brokers

May 09, 2022
Last modified May 23, 2022

The Protrader Trading Platform

Protrader is a trading platform created by financial software developers, PFSOFT, who have been creating trading software solutions since 2003. The Protrader platform is an international, multi-asset, direct market access trading platform, which has been integrated with over 20 different liquidity providers.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Protrader Forex Brokers

Here are the best forex brokers supporting Protrader.

  • IG - 9.7/10 Overall
  • Saxo Bank - 9.5/10 Overall
  • CMC Markets - 9.4/10 Overall
  • Interactive Brokers - 9.2/10 Overall
  • TD Ameritrade - 8.9/10 Overall
  • FOREX.com - 8.7/10 Overall
  • XTB - 8.7/10 Overall
  • City Index - 8.7/10 Overall
  • Swissquote - 8.5/10 Overall
Overall Rating
9.74.5 / 10
Minimum Initial Deposit
£250.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.828 (September 2021)
All-in Cost EUR/USD - Active0.365 (May 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)32
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
9.5 / 10
Minimum Initial Deposit
$2,000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.8 (August 2020)
All-in Cost EUR/USD - Active0.6 (August 2020)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1992
Publicly Traded (Listed)No
BankYes
Tier-1 Licenses6
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)40000
Forex Pairs (Total)182
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)62
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
9.4 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.73 (August 2021)
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1989
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses5
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)11927
Forex Pairs (Total)158
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)86
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
9.2 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (From 09/25/21 - 10/02/21)
All-in Cost EUR/USD - Active0.6 (From 09/25/21 - 10/02/21)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)No
Regulationexpand_moreexpand_less
Year Founded1977
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses8
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)7400
Forex Pairs (Total)91
BitcoinNo
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)127
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.9 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.26 pips (August 2021)
All-in Cost EUR/USD - Active1.26 pips (August 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)No
Regulationexpand_moreexpand_less
Year Founded1955
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses4
Tier-2 Licenses0
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)0
Forex Pairs (Total)73
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)360
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.1 (US August 2021)
All-in Cost EUR/USD - Active1.1 (US August 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)139
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.9 (Q3 2021)
All-in Cost EUR/USD - Active0.9 (Q3 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)10000
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
£100.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.1 (August 2021)
All-in Cost EUR/USD - Active1.1 (August 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1983
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses3
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)12000
Forex Pairs (Total)84
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)139
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.5 / 10
Minimum Initial Deposit
$1000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard-1
All-in Cost EUR/USD - Active-1
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1996
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)466
Forex Pairs (Total)78
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)49
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Platform Types

The Protrader platform comes in various versions. These versions are as follows:

  1. Protrader desktop and web trader
  2. AlgoStudio
  3. Protrader mobile (android and iOS)

Protrader

Protrader is not just another trading platform. It is an all-encompassing trading application that combines the power of professional trading tools with a fully customisable user interface. It is a truly advanced professional trading platform that offers numerous tools for technical analysis.

Protrader gives the user access to various markets on a low-latency basis. With Protrader, the following functions can be performed:

  • Multi-asset trading
  • Market analysis
  • Algorithmic strategies development
  • Risk management

Protrader also offers the following:

  • Multiple market trading and executions all in one platform
  • Pricing that is free of conflict of interest
  • Ability to hedge trades
  • Direct market access
  • Ultra-low latency trading facilities
  • Low monthly fees for data and news
  • Personalised 24-hour trade support with an easy account registration process

AlgoStudio

AlgoStudio is the platform module that Protrader offers its users for the programming and backtesting of algorithmic trading strategies. The AlgoStudio programming environment works with the C# programming language. Users can perform the following functions:

  • Scripting of strategies
  • Debugging
  • Strategy optimisation
  • Back-testing
  • Forward testing and optimisation

The platform can also generate real-time stats on the performance of a strategy.

Protrader Mobile

Protrader also comes in mobile versions, built for tablets and smartphones that run on iOS and Android OS.

Traders can download these platforms from the app stores Google Play for Android and App Store for iPads and iPhones. With these mobile apps, users can trade from anywhere with an internet connection, on Forex, stocks, CFDs, and futures assets.

The Protrader Interface

You can customise the Protrader interface to suit your personal preferences. Here is what you can customise.

Table Filters and Alerts

You can trim your trading workspace and customise it for quick implementation of your strategy by the use of table filters.

Customisable Toolbar

Use the fully-customisable toolbar to create your own platform features.

Colours and Data Appearance

Adjust the colours and appearance of the trading environment to make it as visually appealing as possible. Both light and dark colour schemes are available. Personalise colours, fonts, data displays and charts, then save your preferences.

Protrader - Change Preferences

Create Multiple Workspaces

Create and save the trading environment just as you like it. You can create as many workspaces as desired and click on each to switch from one workspace preference to another.

Order Types on Protrader

Various types of orders can be used in different market situations. The order types available on our platform are:

  • Market Order

A market order is an instruction to the broker to buy or sell a specified asset immediately at the prevailing market price.

  • Limit Order

Limit order are used to buy or sell in the market at predefined price levels which will attract less future cost to the trader. We have buy limit and sell limit orders.

  • Buy Limit orders are set below the market price and are intended to get the best possible pricing when the expectation is for prices to fall before they rise.
  • Sell Limit orders are placed above the market price so as to get the best pricing for entry when the expectation is for prices to rise before falling.
  • Stop Order

Stop orders are used commonly to protect against large losses by setting predefined exit positions. Stop losses are placed above market sell orders and below market buy orders.

  • Trailing Stop Order

A trailing stop order is a type of stop order which has a trigger price that follows the market price when it is advancing in the direction of the trade order and remains unchanged when prices start to retreat against the position. This order is used to lock in gains on a trade.

Tools for Trading on Protrader

What are some of the tools that traders will find interesting on Protrader? Some of the important ones are described below.

  • Chart Trading

Chart trading enables the trader to send orders with one click of the mouse button. Position your computer mouse on the price level you want to buy or sell at, then click to use any of the order buttons:

  • limit or stop order
  • market orders
  • Market Depth - Quick Buttons

You can profit from quick market opportunities with the one-click function. This is done directly from the market depth area. By using special buttons with customisable pips increments, this process reduces the time it takes to set your order prices, enabling you to respond quicker to trading opportunities.

Protrader - Market Depth

  • Basket Trading

Users can save certain order characteristics into a basket and call them up whenever they are needed. With basket trading, it is possible to:

  • Predefine order sets, then execute them all at once using a single click
  • Open positions on several assets at the same time
  • Save sets of orders that have been arranged and customised in the basket to be accessed later when needed
  • Allocate lot sizes for all orders easily
  • Order Management

There are several hit buttons to achieve easier management of orders. It is possible to:

  • Cancel orders by type, side, TIF, P/L or selected ones
  • Modify any order

Protrader - Order Management

  • Quick Position Management

Monitor and manage all open positions using the hot buttons from a single interface. It is possible to close positions, reverse positions, and cancel orders using the CLX button.

Protrader Multi Connect (PTMC)

PTMC is based on the Protrader technology, but is an easy solution for brokers to integrate with their systems via APIs. Currently, regulated broker FXCM, offers this technology.

More Forex Guides

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more.

About the Author

Marcus Taylor

BrokerNotes was founded in 2014 by Marcus Taylor, founder and CEO of Venture Harbor, a venture studio in Oxford that develops innovative online tools & technology across a range of sectors.


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