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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

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What is MT4? How do you use it?
What is MT4? How do you use it?

MT4 vs ProRealTime: what are the differences?

Compare top third-party trading softwares to use on the UK’s leading spread betting and CFD provider.1 Explore what the differences are between using MetaTrader 4 vs ProRealTime when trading with us.

Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.

Contact us 0800 195 3100

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.

Contact us 0800 409 6789

Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.

Contact us 0800 195 3100

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.

Contact us 0800 409 6789
Established 1974 346,000+ clients worldwide 17,000+ markets

What’s on this page?

  1. What is the difference between MT4 and ProRealTime?
  2. What is MT4?
  3. What is ProRealTime?
  4. MT4 vs ProRealTime: pros and cons
  5. How to start trading with MT4 and ProRealTime

What are the differences between MT4 and ProRealTime?

The key differences between MT4, also known as MetaTrader 4, and ProRealTime (PRT) are explained in the table below.

MT4 ProRealTime
  • Access ProRealTime through the IG web platform
  • Use advanced charts in your trade analysis when you open a ProRealTime live account or PRT demo account
  • You can trade all markets. This is with the exception of direct market access (DMA) and sprints
  • Suitable for technical chart users
  • Gain access to several automated monitoring and trading tools through features like ProScreener, alerts, TopMovers, lists, and ProRealTrend
  • Manage your risks through market orders, limits, stops and trailing stops
  • Get free access to all share feeds on a CFD account. You’ll incur a cost if you choose to activate level 1 data feeds
  • Customise your ProRealTime template with marketplace indicators
Learn more about different trading platforms

What is MT4?

MetaTrader 4 (MT4) is an automated third-party, algorithmic trading platform that enables you to trade thousands of markets through spread betting and CFD trading. The platform, which can be tailor-made to your trading needs and preferences, enables you to automatically set parameters for your trade using algorithms.

Graphic showing interface of a MetaTrader 4 demo account dashboard, displaying a financial market chart

Learn more about what MT4 is and how to use it

What is ProRealTime?

ProRealTime (PRT) is an intuitive online charting software you can use for technical analysis and trading. If you’re a skilled trader, this software that’s integrated on our order server (where trades placed from PRT are executed), will give you a fully customised interface as well as automated advanced technical analysis and trading experience. We’re the only UK spread betting and CFD trading provider that offers ProRealTime.

Graphic showing interface of a ProRealTime demo account dashboard integrated with our platform

Learn more about what ProRealTime is

MT4 vs ProRealTime: pros and cons

There are several pros and cons of trading via MT4 vs ProRealTime, which have been summarised below.

MT4 ProRealTime
Pros
  • Trade spread bets and CFDs on major indices, FX and some commodities in real-time
  • Downloadable on both a desktop and mobile app, meaning you can trade anywhere
  • Fully customisable intuitive platform that beginner traders can also use
  • No exchange fees are charged
  • Offers automated trading
  • Fast trade execution speed
  • Get global access to MT4 platform specialists 24 hours a day
  • Receive trading signals
  • Trade spread bets and CFDs under real market conditions
  • Enables you to trade over 17,000 markets including forex, shares, indices and commodities
  • Provides automated trading to experienced traders
  • Interface fully integrated with our trading platform
  • Unlimited number of chart timeframes
  • Access real-time chart analysis using over 100 indicators that include commodity channel index (CCI), adaptive moving average, Chaikin oscillator, moving average and OrderBook volume
  • Build your own algorithms to execute trades 24 hours per day
  • Engage with the community forum
Cons

N/A
  • Downloadable only on PC, Mac and Linux
  • Monthly exchange fees charged for certain exchange stock feeds on a CFD trading account

How to start trading with MT4 and ProRealTime

When trading with us, you’ll have access to charts for trade and analysis using MT4 and ProRealtime software. You can follow the steps below to learn how to start trading using either.

Start trading on MT4

Start trading on ProRealTime
  1. Create a live IG account or a demo MT4 account
  2. Log in to My IG, your account hub
  3. Select ‘Add an account’
  4. Decide if you want to trade CFDs or place spread bets
  5. Follow the on-screen prompts
  1. Create a live IG account
  2. Log in to your IG account
  3. Go to settings, then activate ProRealTime
  4. Launch your ProRealTime account
  5. Start dealing ProRealTime charts

FAQs

Is MT4 free?

You can download and access an MT4 account on our trading platform for free.

Is ProRealTime free?

ProRealTime is free if you trade spread bets and CFDs at least four times a month. If you trade less frequent than that you’ll have to pay a £30 fee per month.

Is MT4 good for beginners?

MT4 is good for you if you’re a beginner trader. But if you’re not a confident trader then you might want to first try the MT4 demo account, which’ll enable you to trade real market conditions using virtual funds in a risk-free environment.

But note that once you open an MT4 live account and start trading, you’ll be subject to slippage, interest and dividend adjustments, or out-of-hours price movements. Ensure you manage your risks carefully.

Is ProRealTime good for beginners?

If you’re a beginner trader, you can open a ProRealTime demo account. ProRealTime is for experienced traders that prefer to use advanced technical analysis, and want to use an automated and customised interface for their trading.

While the demo account has key differences to the ProRealTime live account, it’ll provide you with an idea of how the platform works in a risk-free setting.

Is Metatrader 4 or ProRealTime better?

The choice of either Metatrader 4 or ProRealTime will be based on your trading needs and preferences. You’ll have to consider the differences between the two software’s as well as weigh the pros and cons of each before you decide which one works best for the trading experience you seek.

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1 Based on revenue (published financial statements, October 2022); for forex based on number of primary relationships with
FX traders (Investment Trends UK Leveraged Trading Report released June 2021).
2 Best platform for the active trader, best multi-platform provider and best trading app as awarded at the ADVFN International Financial Awards 2024.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. 

Professional clients trading spread bets and CFDs can lose more than they deposit.

Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.

Trading stocks and shares ‘on margin’ within a US options and futures account – meaning that you only finance part of the cost of acquiring a position in a security – carries additional risks over buying securities on a fully funded basis and may result in losses exceeding your original investment. Trading on margin will also result in additional costs to you as the investor and any securities purchased using margin may be held as collateral by the lender, restricting both your rights as shareholder, and your ability to use the securities until the margin trade is closed. You should familiarise yourself with these risks before trading on margin.

The value of shares, ETFs and other ETPs bought through a share dealing account, a US options and futures account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing.

Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts and US options and futures accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd.   

IG is a trading name of IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764), IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Trading and Investments Ltd (Register Number 944492) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.   

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