ProRealTime Fees and Small Accounts

[Piston_Broke]

Hi All

I have been using a DEMO account for a while and I would like to progress to a Live CFD account.

My strategies use PRT Autotrading and I would like to know what IG determines to be  "extremely low value"  when they state what kind of account can use PRT without fees. My system is used on 15 min charts so the number of trades per month should not be a problem. However I will be using single contracts on EURUSD Mini so my positions will not be very big.

From the website:

How much does ProRealTime cost?

As an IG client, you get access to ProRealTime for free for your first month. Professional clients get free access for three months. Following that, you can continue to access PRT charts at no extra cost if you transact at least four times in a given month.

If you don't meet this requirement, or your trading activity is of extremely low value, then a £30 per month fee will apply on the last day of every calendar month.

Has anyone got any ideas please? I called them and I was told that non-professional users do not get free access but the web site states it is free if more that 4 trades per month and trading activity is not of "extremely low value"

 Many Thanks

[Caseynotes]

Hi @Piston_Broke, whether or not the fee applies seems to be calculated very much on an account by account basis. Given that you have already spent time developing a strategy on the demo it's probably worth trialing and see. It's likely that if IG deem it 'extremely low value' they will tell you that if you continue to use PRT then the fee will apply, but even if they charge without notice it would seem worth the £30 just to find out.

[Piston_Broke]

Thanks @Caseynotes...I agree....I may as well just start it off and see what happens.

I will commence the free month on 1st April and see if I get charged on 31st May. At least I'll get 2 months for my £30 if they charge me!! 

Regards

 

[Exhale_Trading]

I think PRT will not charge you a monthly fee but I strongly recommend you NOT to use PRT's auto trading with real money. It's faulty and will sooner or later loose your money because of platform errors. When this happens PRT will not compensate you stating you were using it on your own risk.

It costed me over 1500 USD to find this out. Use IG's API instead. This works stable and you will only lose your money because of your bad strategy and not because of platform errors. 😉