Prorealtime.com Review

Based on looking at the website, ProRealTime.com presents itself as a robust trading and technical analysis platform.

However, for a user seeking ethical financial practices, particularly from an Islamic perspective, the offerings on ProRealTime.com are problematic.

The platform heavily promotes and facilitates engagement in financial instruments that involve interest riba, speculation, and potential gambling-like elements, which are explicitly prohibited in Islamic finance.

This includes trading in traditional stocks, futures, options, forex, and especially cryptocurrencies, all of which often involve mechanisms that contradict Sharia principles.

Therefore, ProRealTime.com is not recommended for individuals adhering to Islamic financial guidelines due to its core services.

0.0 0.0 out of 5 stars (based on 0 reviews) Excellent0% Very good0% Average0% Poor0% Terrible0% There are no reviews yet. Be the first one to write one. Your review Your overall rating Select a Rating5 Stars4 Stars3 Stars2 Stars1 Star Title of your review Your review Your name Your email This review is based on my own experience and is my genuine opinion. ​ Submit Review

Amazon.com: Check Amazon for Prorealtime.com Review Latest Discussions & Reviews:

Overall Review Summary:

• Purpose: Trading and technical analysis software.
• Key Features: High-quality charts, 100+ technical indicators, automated trend lines, real-time market data, backtesting, automated trading, multi-broker platform, and mobile access.
• Financial Instruments Covered: Stocks, Futures, Indices, Cryptos, Forex, Gold & Silver, Commodities, Rates & Bonds, Options.
• Accessibility: ProRealTime Web instant access, ProRealTime Complete downloadable, ProRealTime Mobile.
• Pricing: ProRealTime Web is free with all features, ProRealTime Complete is free with end-of-day data. platform can be free if active with brokerage services.
• Customer Support: Email, phone, screen sharing, dedicated account manager, individual training.
• Ethical Review Islamic Perspective: Not Recommended. The platform’s core offerings involve instruments and practices e.g., interest-based trading, excessive speculation, options that are generally considered impermissible in Islamic finance.

While ProRealTime.com boasts impressive features and a strong user base, along with awards like “Best Trading Platform,” its fundamental operations revolve around conventional financial markets that frequently involve interest riba and excessive speculation gharar and maysir, which are major prohibitions in Islamic teachings.

For example, forex trading, futures, and options contracts often entail leverage and derivative structures that are not permissible.

Even conventional stock trading, if not screened for Sharia compliance e.g., avoiding companies involved in prohibited industries or those with high levels of interest-based debt, falls outside Islamic guidelines.

The website’s emphasis on “trading from charts,” “money management” which can include leverage, and “automated trading” for “investment strategy” further reinforces its conventional finance orientation.

Users seeking a permissible path for wealth management should steer clear of such platforms and instead look for alternatives built on ethical, Sharia-compliant principles.

Best Alternatives for Ethical Financial Management Non-Trading Focus:

Here are 7 alternatives that align with Islamic principles for financial growth, focusing on ethical investments and wealth management rather than speculative trading:

• Wahed Invest

  • Key Features: Automated halal investment platform, diversified portfolios stocks, sukuk, gold, regular portfolio rebalancing, multiple risk profiles, Zakat calculation.
  • Average Price: Management fees typically range from 0.49% to 0.99% annually, depending on the portfolio size.
  • Pros: Fully Sharia-compliant, easy to use for beginners, professional management, broad diversification.
  • Cons: Limited control over individual stock selection, higher fees compared to self-directed conventional investing.

• Amanah Finance

  • Key Features: Sharia-compliant home financing, ethical investment products, transparency, community focus.
  • Average Price: Varies based on financing products and investment options.
  • Pros: Addresses a major need for halal homeownership, emphasis on ethical principles, supports community development.
  • Cons: Primarily focused on real estate financing, investment options might be narrower compared to larger platforms.

• Zoya App

  • Key Features: Halal stock screening, portfolio analysis, Zakat calculation, detailed Sharia compliance reports for individual stocks, Islamic finance news.
  • Average Price: Free tier available. premium subscriptions offer advanced features e.g., real-time screening for around $15/month or $120/year.
  • Pros: Empowers individual investors to screen stocks for Sharia compliance, user-friendly interface, comprehensive data.
  • Cons: Requires users to self-direct their investments, not an investment platform itself but a screening tool.

• Wealthsimple Halal Investing

  • Key Features: Robo-advisor offering Sharia-compliant ETFs, diversified global portfolios, automatic rebalancing, low fees, socially responsible investing options.
  • Average Price: Management fees are typically 0.5% for accounts under $100,000 and 0.4% for accounts over $100,000.
  • Pros: Automated and hands-off investing, globally diversified, accessible for various investment sizes.
  • Cons: Limited customization of holdings, primarily ETF-based.

• Islamic Finance Guru IFG

  • Key Features: Not a platform itself, but a comprehensive resource for halal investment platform reviews, guides, and news. They often recommend various compliant investment vehicles.
  • Average Price: Content is mostly free, but they may promote affiliate products or services.
  • Pros: Excellent educational resource, independent reviews, helps users find suitable halal investment solutions.
  • Cons: Not an investment platform. users still need to choose and manage their investments elsewhere based on the guidance provided.

• OpenInvest

  • Key Features: Focuses on socially responsible investing SRI with customizable impact filters, allowing users to align investments with their values, including ethical screens though not specifically Islamic-centric, it can be tailored.
  • Average Price: Management fees are typically around 0.5% annually.
  • Pros: Highly customizable for ethical preferences, professional portfolio management, transparent reporting.
  • Cons: Not explicitly Sharia-compliant. requires careful customization to avoid prohibited industries, still operates within conventional financial frameworks.

• Gold and Silver Physical Ownership

  

  • Key Features: Direct ownership of physical gold and silver, recognized as a safe haven asset and a store of value in Islamic finance, protection against inflation and currency devaluation.
  • Average Price: Spot price of gold/silver plus a premium for manufacturing and dealer markup.
  • Pros: Tangible asset, Sharia-compliant wealth preservation, easily liquidated in times of need.
  • Cons: Storage costs and security concerns, not interest-bearing, liquidity can be an issue for very large amounts, requires physical handling.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

ProRealTime.com Review & First Look

Based on checking the website, ProRealTime.com positions itself as a premier destination for traders and financial analysts. It highlights its “Technology for Better Trading,” offering both a web-based platform ProRealTime WEB for instant access and a downloadable version ProRealTime COMPLETE for full features. The homepage immediately showcases user satisfaction with a 4.7/5 rating based on 886 independent reviews as of June 8, 2025 and multiple awards like “Best Trading Platform 2024” from brokervergleich.com and “Best Platform for Investing 2024” from rankia.com. These accolades are prominently displayed, suggesting a reputable standing within the conventional trading community.

The site emphasizes its experience, boasting 22 years in the market, over 1 million users worldwide, and access to more than 500,000 financial instruments, with 18 million+ live orders executed in 2022. This data paints a picture of a large, established platform. However, the sheer breadth of financial instruments, including Cryptos, Forex, Futures, and Options, immediately flags concerns from an Islamic finance perspective. These instruments typically involve elements of riba interest, gharar excessive uncertainty/speculation, and maysir gambling, which are strictly prohibited. While gold and silver are listed, their inclusion within a speculative trading context rather than as physical assets for wealth preservation also raises questions. The platform’s core utility is built around active, often leveraged, trading—a domain fraught with Sharia non-compliance.

ProRealTime.com Overview

The homepage provides a quick snapshot of what ProRealTime offers: “One of the best trading and technical analysis platforms.” It emphasizes “high quality charts, analytic tools and reliable market data received directly from the exchanges.” This suggests a commitment to providing advanced tools for market analysis.

The mention of its multi-broker trading platform, allowing users to “trade from your ProRealTime platform” with “leading online brokers,” reinforces its role as an intermediary for accessing conventional financial markets.

Initial Impressions of ProRealTime.com

The website’s design is clean, professional, and user-friendly, with clear calls to action for starting ProRealTime Web or downloading ProRealTime Complete. Key information is presented concisely through bullet points and easily digestible sections. This makes it simple for visitors to understand the platform’s purported benefits and features. However, for a user primarily concerned with ethical financial practices, this polished facade conceals underlying issues. The explicit promotion of Forex and Options trading, for instance, indicates a direct engagement with products that are often considered impermissible. The site does not provide any information regarding Sharia-compliance or ethical investment screening, which is a significant omission for anyone seeking permissible financial solutions. Jarvincy.com Review

ProRealTime.com Features From an Islamic Perspective

ProRealTime.com highlights an extensive array of features designed to enhance trading and analytical capabilities.

While these features are technically impressive, their application within the context of conventional financial markets inherently leads to engagement in activities that are not permissible in Islamic finance.

Let’s break down some of these features and why their utility on this platform is problematic from a Sharia-compliant viewpoint.

Advanced Charting and Technical Analysis Tools

The platform boasts “high quality charts” and “100+ technical indicators, charting tools, price comparisons, create your own indices & spreads.” It also offers “extensive historical data” and “automatic trend lines” for decision support.

• Problem: While technical analysis itself isn’t inherently forbidden, its primary use on ProRealTime.com is for speculative trading. Investors use these tools to predict short-term price movements in instruments like futures, forex, and options, aiming for quick profits. This often involves gharar excessive uncertainty and can lead to maysir gambling due to the highly speculative nature. True Islamic investment focuses on real economic activity, long-term value, and asset-backed transactions, not mere price speculation.
• Alternative: Instead of using complex charting for speculative trading, ethical investors should focus on fundamental analysis of real businesses for Sharia-compliant stocks or tangible assets like real estate or ethical businesses.

Trading Execution Features

ProRealTime.com promotes “Trading from charts” allowing users to “Place, manage and monitor your orders directly from charts.” It also features “Money Management” tools for “automatic quantity based on your risk tolerance, multiple targets and stops on your positions, daily loss limit.” The “Scalping order book” is designed for “speed.” Medicpaths.com Review

• Problem: These features are explicitly designed for active, short-term trading strategies, including day trading and scalping, which are often considered highly speculative and akin to gambling. “Money Management” tools, while seemingly prudent, are geared towards optimizing conventional trading profits, which may originate from impermissible sources or methods. The very act of “trading from charts” for quick gains goes against the Islamic emphasis on productive investment in real assets.
• Alternative: Focus on genuine ownership and partnership in businesses e.g., investing in Sharia-compliant equities for dividends and long-term growth or participating in profit-and-loss sharing ventures.

Automated Trading and Backtesting

The platform offers “Automated Trading” to “Automatically place the buy and sell orders of your investment strategy” and “Backtesting and optimisation” to “Test and optimize your trading strategies before using them in real markets.”

• Problem: Automation in trading often removes the human element of due diligence and conscious decision-making, increasing the speed and volume of potentially impermissible transactions. The focus on “optimizing strategies” for market gains, particularly with instruments like options and futures, is a direct pathway to gharar and maysir. These automated systems often rely on complex algorithms that might not screen for Sharia compliance or ethical considerations, leading to investments in prohibited industries or through forbidden structures.
• Alternative: Instead of automating speculative trades, automate savings into Sharia-compliant investment funds e.g., through a robo-advisor like Wahed Invest or establish recurring contributions to ethical endowments waqf or charitable causes.

Multi-Broker Trading Platform

ProRealTime.com is highlighted as a “Multi-broker trading platform,” allowing users to “Trade from your ProRealTime platform” with “Leading online Brokers” like Interactive Brokers, IG, and Saxo.

• Problem: These “leading online brokers” are almost exclusively conventional financial institutions that facilitate interest-based loans, leveraged trading, and a full spectrum of impermissible financial instruments. By integrating with such brokers, ProRealTime.com becomes a conduit for engaging in these forbidden activities, regardless of the features it provides. The platform’s claim to be “broker-independent” is misleading in this context, as it still channels users into non-compliant brokerage services.
• Alternative: Seek out brokers or financial institutions that are explicitly Sharia-compliant and offer only permissible products, such as those specializing in Sukuk Islamic bonds or Sharia-screened equities.

Extensive Market Coverage

The platform boasts coverage of “Stocks, Futures, Indices, Cryptos, Forex, Gold & Silver, Commodities, Rates & Bonds, Options.”

• Problem: This wide range of instruments includes numerous categories that are problematic in Islamic finance.
  • Futures and Options: Highly speculative, involving contracts without immediate exchange of underlying assets, often leading to gharar and maysir.
  • Cryptos: While the permissibility of cryptocurrencies themselves is debated, their use in highly speculative, volatile trading as facilitated by ProRealTime is generally considered impermissible due to extreme gharar and potential for fraud.
  • Forex: Often involves interest-based rollovers riba and excessive speculation, making it largely impermissible.
  • Rates & Bonds: Bonds are typically interest-bearing, making them a direct form of riba.
  • Stocks: While some stocks can be Sharia-compliant, ProRealTime.com does not provide any screening mechanism, meaning users could easily invest in non-compliant companies e.g., those involved in alcohol, gambling, interest-based finance, or with high levels of interest-based debt.
• Alternative: Focus on Sharia-compliant stocks, Sukuk, ethical real estate investments, and direct ownership of physical gold and silver as legitimate means of wealth preservation and growth.

Customer Service and Training

ProRealTime mentions “Dedicated support” via email, phone, and screen sharing, along with “individual platform training sessions available on request.”

• Problem: While good customer service is generally positive, in this context, it serves to facilitate engagement with a problematic financial platform. The training sessions, while helping users navigate the tools, implicitly teach them how to participate in non-Sharia-compliant trading activities more effectively.
• Alternative: Seek guidance and education from qualified Islamic finance scholars or institutions that provide training on genuinely permissible financial products and practices.

In essence, ProRealTime.com’s sophisticated features, while technologically advanced, are primarily designed to facilitate conventional, often speculative, trading activities that are not in line with Islamic financial principles. Fareoyard.com Review

For a user seeking a Sharia-compliant approach to wealth management, these features represent tools for engagement in forbidden transactions rather than permissible investments.

ProRealTime.com Cons

Based on a thorough review of the ProRealTime.com website, particularly from the perspective of Islamic financial ethics, there are significant drawbacks that make this platform unsuitable for a Sharia-conscious investor.

While the site promotes its technical capabilities and user satisfaction, its core offerings inherently contradict fundamental Islamic financial principles.

Fundamental Non-Compliance with Islamic Finance

The most critical and overarching “con” of ProRealTime.com is its complete disregard for Sharia compliance.

The platform’s very essence is built around conventional financial trading, which is permeated with practices forbidden in Islam. Precisiontelemed.com Review

• Riba Interest: Trading in instruments like Forex, bonds, and even certain derivatives involves interest mechanisms. The platform’s integration with conventional brokers, which facilitate interest-based transactions and margin trading leveraged trading with interest, further exacerbates this issue.
• Gharar Excessive Uncertainty/Speculation: The emphasis on futures, options, and short-term trading strategies like scalping inherently involves excessive uncertainty. Islamic finance emphasizes transactions with clear outcomes and tangible assets, not highly speculative bets on future price movements.
• Maysir Gambling: The speculative nature of derivatives, coupled with the potential for high leverage and rapid gains/losses, makes these activities akin to gambling. The “risk of loss greater than your deposits” disclaimer on the homepage subtly acknowledges this high-risk, almost gambling-like element.
• Lack of Sharia Screening: The platform offers “Stocks” without any mention or mechanism for Sharia screening. This means users can easily invest in companies involved in prohibited industries e.g., alcohol, tobacco, conventional banking, entertainment or those with high levels of interest-based debt, rendering the investment non-compliant.

Promotion of High-Risk, Speculative Activities

ProRealTime.com actively encourages and facilitates highly speculative forms of trading.

Features like “Market replay” for “Practice trading on past data” and “Backtesting and optimisation” for “Test and optimize your trading strategies before using them in real markets” are designed to refine methods for high-frequency, short-term speculation.

• Problem: This focus on short-term gains from price fluctuations, rather than long-term, productive investment in real assets, can lead to financial instability and moral compromise. The allure of quick profits can easily ensnare individuals in practices that ultimately yield no true blessing barakah.
• Statistic: According to various studies on retail trading, a vast majority often cited as 70-95% of retail traders lose money over the long term. This high failure rate underscores the inherent risk and speculative nature, making it far from a “sure bet” and closer to gambling.

Absence of Ethical Filters or Alternatives

The website provides no indication of any ethical investment options, socially responsible investing SRI filters, or Sharia-compliant alternatives within its platform.

It operates solely within the conventional financial paradigm.

• Problem: This absence forces users to choose between using a highly non-compliant platform or foregoing its advanced technical features entirely. For someone committed to ethical finance, this platform offers no viable path forward.
• Comparison: Unlike platforms like Wahed Invest or Zoya App, which are built from the ground up with Sharia compliance in mind, ProRealTime.com seems oblivious to the needs of ethical investors.

Focus on Conventional Brokerage Services

While ProRealTime positions itself as “broker-independent,” it prominently advertises integration with “Leading online Brokers” such as Interactive Brokers, IG, and Saxo. Dphtrading.com Review

• Problem: These brokers are renowned for offering a full suite of conventional financial products, including those heavily involved in interest and speculation. By partnering with them, ProRealTime effectively endorses and channels users towards these non-compliant services, undermining any claim of neutrality in terms of financial ethics.
• Observation: The “Learn more about our brokerage services” link on the homepage leads to an explanation of how to use ProRealTime with these specific non-Sharia-compliant brokers.

Emphasis on Financial Instruments with Inherent Issues

The explicit listing of “Futures,” “Cryptos,” “Forex,” “Rates & Bonds,” and “Options” as covered instruments is a major red flag.

• Futures and Options: As discussed, these are highly problematic due to gharar and maysir.
• Cryptos: While the technology is emerging, the primary use case promoted on trading platforms is highly speculative price betting, which aligns with gambling.
• Forex: Typically involves interest riba on overnight positions and excessive speculation, making it impermissible.
• Rates & Bonds: These are fundamentally interest-based financial instruments riba.
• Gold & Silver: While gold and silver themselves are permissible assets, trading them speculatively on platforms like this, often without actual physical possession or immediate exchange, can fall into the category of gharar and maysir.

In conclusion, despite its technical sophistication and accolades in the conventional trading world, ProRealTime.com stands as a monument to financial practices that are in direct conflict with Islamic principles.

Its core business model, features, and partner integrations are all geared towards speculative, interest-based activities, making it an unsuitable choice for any individual committed to Sharia-compliant wealth management.

ProRealTime.com Alternatives for Ethical Investing

Given that ProRealTime.com is primarily designed for conventional, speculative trading, which includes instruments and practices often considered impermissible in Islamic finance, it’s crucial to explore alternatives that align with ethical and Sharia-compliant investment principles.

These alternatives focus on real economic activity, asset-backed investments, and avoiding interest, excessive uncertainty, and gambling. Telecomsworld.com Review

Halal Investment Platforms & Robo-Advisors

These platforms are specifically built to offer Sharia-compliant investment portfolios, typically investing in screened stocks, sukuk Islamic bonds, and gold.

They remove the burden of individual stock screening and active trading.

• Wahed Invest:

  • Focus: Globally diversified, Sharia-compliant portfolios managed by experts.
  • Key Benefit: Automates investment into ethical funds, suitable for passive investors.
  • Relevance: Directly addresses the need for permissible, diversified investments without engaging in speculative trading.

• Wealthsimple Halal Investing Canada:

  • Focus: Robo-advisor service offering portfolios comprised of Sharia-compliant ETFs.
  • Key Benefit: Low-cost, automated investing in ethical global markets.
  • Relevance: Offers an accessible, ethical alternative to conventional stock trading platforms.

Halal Stock Screening Tools

For those who wish to invest directly in the stock market but ensure Sharia compliance, these tools are indispensable. Dbeckshoes.com Review

They don’t facilitate trading but provide crucial information for ethical decision-making.

• Zoya App:

  • Focus: Provides real-time Sharia compliance reports for individual stocks and ETFs globally.
  • Key Benefit: Empowers self-directed investors to screen companies based on business activities, financial ratios e.g., debt to equity, and interest income.
  • Relevance: A critical tool for ensuring individual stock investments meet Islamic criteria, a function entirely absent from ProRealTime.com.

• Islamic Finance Guru IFG Stock Screening:

  • Focus: Offers extensive guides, resources, and often a paid screening service for UK and US stocks.
  • Key Benefit: Educational resources alongside practical screening tools.
  • Relevance: Helps investors identify permissible stocks to build a portfolio, fostering a long-term, value-based approach rather than speculation.

Ethical & Sharia-Compliant Financing

Moving beyond public markets, alternatives exist for financing major purchases without engaging in interest.

• Amanah Finance:
  • Focus: Sharia-compliant home financing solutions based on principles like Murabaha cost-plus financing or Musharakah partnership.
  • Key Benefit: Provides an ethical alternative to conventional mortgage loans, avoiding riba entirely.
  • Relevance: Addresses a fundamental financial need in a permissible manner, contrasting sharply with interest-based instruments promoted by ProRealTime-linked brokers.

Physical Asset Investments

Investing in tangible assets is often considered a safer and more permissible route, as it involves real ownership and avoids speculative derivatives. Jazzincdioramas.com Review

• Physical Gold and Silver:
  • Focus: Direct ownership of precious metals, which serve as a store of value and hedge against inflation.
  • Key Benefit: Recognised as a permissible form of wealth preservation, with historical precedent in Islamic economic history.
  • Relevance: A direct, tangible investment that avoids the speculative pitfalls of futures and options contracts offered on platforms like ProRealTime. Instead of trading highly volatile digital currencies or derivatives, owning physical gold is a clear, Sharia-compliant alternative.

Ethical Crowdfunding & Direct Investment

For those interested in supporting real economic ventures and earning returns from productive activity.

• IFG.VC Islamic Finance Guru’s Venture Capital arm:
  • Focus: Connects ethical investors with Sharia-compliant startups and businesses seeking funding.
  • Key Benefit: Allows investors to participate in profit-and-loss sharing, a core principle of Islamic finance, directly supporting innovation and economic growth.
  • Relevance: A complete antithesis to speculative trading. here, returns are generated from the success of real businesses, embodying the spirit of productive investment.

These alternatives highlight a paradigm shift from the speculative, interest-based model of ProRealTime.com to one grounded in ethical, asset-backed, and socially responsible investment.

For the Sharia-conscious investor, choosing any of these alternatives over a conventional trading platform is a step towards financial integrity.

How to Avoid ProRealTime.com and Similar Platforms

For those committed to Sharia-compliant financial practices, the best approach is to completely avoid platforms like ProRealTime.com and any similar trading environments that facilitate interest-based transactions, excessive speculation, or gambling.

Engaging with such platforms, even for “educational” purposes, can normalize impermissible practices and inadvertently lead one down a path of non-compliance. Cex.io Review

Understanding the Inherent Risks Beyond Just Financial

Platforms like ProRealTime.com are designed to encourage active trading across a wide array of financial instruments.

While they boast sophisticated tools and data, the very nature of these markets, particularly Forex, Futures, Options, and speculative Crypto trading, carries risks that transcend mere financial loss.

• Moral and Spiritual Risk: Engaging in riba interest, gharar excessive uncertainty, and maysir gambling directly violates core Islamic principles. The spiritual consequence of knowingly participating in such activities is far more significant than any potential financial gain or loss.
• Real-World Data: Studies consistently show that a significant majority of retail traders lose money. For instance, data from ESMA European Securities and Markets Authority in 2017 showed that 74-89% of retail investor accounts lose money when trading CFDs, a product often associated with forex and other derivatives offered by brokers linked to platforms like ProRealTime. This highlights the inherent financial instability of these ventures.

Sharia-Compliant Alternatives for Financial Growth

Instead of looking for ways to navigate problematic platforms, focus entirely on the abundant permissible avenues for wealth creation and preservation.

• Ethical Investing:

  • Halal Stock Market Investing: Use screening tools like Zoya App or resources from Islamic Finance Guru IFG to identify Sharia-compliant companies. Focus on long-term growth and dividends from real businesses.
  • Sukuk Islamic Bonds: Invest in Sukuk, which are asset-backed securities representing ownership in tangible assets or specific projects, offering permissible returns. Wahed Invest, for example, includes Sukuk in its portfolios.
  • Gold and Silver: Directly own physical gold and silver as a store of value. This avoids the speculative nature of trading precious metal derivatives. You can explore reputable dealers for physical gold bars or physical silver coins.

• Halal Financing:

  Adeptlr.com Review

  • For major purchases like homes or cars, seek out Sharia-compliant financing institutions that use principles like Murabaha, Musharakah, or Ijarah to avoid interest. Amanah Finance is an example for home financing.

• Ethical Entrepreneurship & Business:

  • Invest in or start businesses that provide real goods and services, aligning with ethical principles. This involves direct participation in the economy and sharing in actual profits and losses, which is foundational to Islamic finance.

• Savings and Zakat:

  • Prioritize disciplined saving in Sharia-compliant accounts non-interest bearing and consistently fulfill Zakat obligations, which purifies wealth and contributes to societal welfare.

The proactive approach is to steer clear of platforms that promote impermissible financial activities and instead actively seek out and utilize the many ethical and Sharia-compliant financial solutions available.

This not only safeguards one’s wealth from non-compliant sources but also brings blessings barakah by adhering to divine guidelines. Grizzlyfishing.com Review

ProRealTime.com Pricing From an Ethical Viewpoint

ProRealTime.com presents an enticing pricing model, primarily highlighting its “free” offerings.

However, from an ethical and Islamic finance perspective, the concept of “free” here is misleading when it comes to the true cost of engaging with such a platform.

While there might be no direct monetary fee for accessing the basic software, the implied cost in terms of Sharia compliance is significant.

“Free” Platforms: A Closer Look

The website states:

• ProRealTime Web is free, “with all features included, and no ads.”
• ProRealTime Complete is free “with end-of-day data.”

This “free” access is designed to attract users to their ecosystem. Polyguru.au Review

The catch, from an Islamic perspective, is revealed when one delves into the “How to get ProRealTime platform for free if you are active” section.

This suggests that the platform becomes truly free beyond basic end-of-day data if you are an “active” trader through their linked brokerage services.

The True “Cost” of “Free”

The business model for platforms like ProRealTime often relies on commissions generated from the trading activities of their users, facilitated through their partnered brokers. This means:

• Indirect Engagement in Riba/Maysir: By trading actively to “get the platform for free,” users are effectively generating commissions for the platform and its partnered brokers. These commissions often arise from transactions involving riba e.g., overnight forex rollovers, margin interest or maysir speculative futures/options trading. Thus, the “free” platform is subsidized by activities considered impermissible.
• Brokerage Fees and Spreads: The website mentions “Competitive brokerage fees.” These fees, along with spreads the difference between buy and sell prices, are the primary revenue streams for the brokers. When users engage in high-frequency trading often encouraged by such platforms, these small fees accumulate rapidly, becoming a significant cost to the trader. Furthermore, the legality of these fees must be assessed on a case-by-case basis under Islamic law.
• Hidden Costs of Speculation: The ultimate “cost” for many users will be the financial losses incurred from speculative trading. As noted, a vast majority of retail traders lose money. The “free” platform merely provides the tools for this financially destructive engagement.

Ethical Alternatives for “Free” or Low-Cost Investment

Instead of seeking “free” access to tools for impermissible trading, consider truly free or low-cost alternatives that align with Islamic values:

• Public Domain Knowledge: Access free educational resources on Islamic finance, Sharia-compliant investment principles, and ethical wealth management. Many reputable Islamic finance scholars and institutions offer free online courses, articles, and webinars.
• Community-Based Learning: Participate in free study circles or discussions within your local Muslim community focused on ethical economics and permissible financial practices.
• Open-Source Data: Utilize free, publicly available data sources for fundamental analysis of Sharia-compliant companies, rather than paying for or earning free access to real-time speculative trading data.
• No-Fee Halal Savings Accounts: Focus on building savings in non-interest-bearing accounts, even if the returns are minimal, as the purification of wealth is paramount.
• Charitable Giving Sadaqa & Zakat: Directing surplus wealth towards charitable causes is a permissible and highly rewarded form of “spending” that yields immense spiritual returns, contrasting sharply with speculative losses.

In conclusion, while ProRealTime.com may offer its software for “free” under certain conditions, this “freedom” comes with a substantial ethical burden for anyone adhering to Islamic financial principles. Enrichednurse.com Review

The structure incentivizes engagement in transactions that are fundamentally non-compliant, making the perceived monetary “savings” insignificant compared to the ethical compromise.

ProRealTime.com vs. Alternatives

When evaluating ProRealTime.com against alternatives, the comparison isn’t simply about features or pricing. it’s fundamentally about philosophical alignment.

ProRealTime.com operates within the conventional finance paradigm, which often conflicts with Islamic principles.

Its “competitors” are typically other trading platforms that share this same foundation.

However, for a Sharia-conscious individual, the true “alternatives” are platforms and approaches built on Islamic financial ethics. Cablepro.net.au Review

ProRealTime.com: The Conventional Trading Champion

ProRealTime.com is an advanced trading and charting software.

• Strengths Conventional View: High-quality charts, extensive technical indicators, automated trading, multi-broker connectivity, real-time data, and support for a vast array of instruments like Forex, Futures, Options, and Cryptos. It’s designed for active, often leveraged, speculation. Its awards and large user base attest to its effectiveness in conventional trading.
• Weaknesses Islamic View: Promotes and facilitates riba, gharar, and maysir. No Sharia screening or ethical filters. Encourages short-term speculation over long-term, asset-backed investment. Fundamentally incompatible with Islamic finance.

Direct Conventional Competitors Also Problematic for Muslims

Platforms often compared to ProRealTime.com in the conventional trading world include:

• MetaTrader 4/5 MetaTrader:
  • Similarities to ProRealTime: Widely used by Forex and CFD brokers, extensive charting tools, automated trading Expert Advisors, and broad market access.
  • Islamic Perspective: Equally problematic. Its primary use is for Forex and CFD trading, which almost invariably involve riba, excessive leverage, and speculation.
• TradingView TradingView:
  • Similarities to ProRealTime: Powerful charting, social trading features, market data for various instruments. Offers brokerage integration.
  • Islamic Perspective: While its charting tools themselves are neutral, its integration with conventional brokers and its promotion of speculative instruments including crypto, forex, derivatives make it equally challenging to use compliantly without very strict self-discipline and knowledge of individual asset permissibility. It’s a tool that can be used for good or ill, but its default ecosystem is not Sharia-compliant.
• NinjaTrader NinjaTrader:
  • Similarities to ProRealTime: Advanced charting, backtesting, and automated strategy development, particularly popular for futures trading.
  • Islamic Perspective: Highly problematic. Futures trading is almost universally considered impermissible due to extreme gharar and maysir speculation/gambling and the lack of immediate exchange of the underlying asset.

True Alternatives for Ethical Islamic Investing

These platforms and approaches offer a completely different philosophy, focusing on Sharia compliance from the ground up:

• Wahed Invest Wahed Invest:
  • Key Difference: A robo-advisor built explicitly for Sharia-compliant investing. Diversified portfolios of screened stocks, sukuk, and gold. Focus on long-term growth and passive investment.
  • Benefit over ProRealTime: Eliminates riba, gharar, and maysir from the investment process. Provides peace of mind regarding compliance. No active trading required.
• Zoya App Zoya App:
  • Key Difference: A stock screening tool that allows individual investors to check the Sharia compliance of specific stocks.
  • Benefit over ProRealTime: Empowers ethical self-directed investment by providing crucial Sharia screening information, something ProRealTime entirely lacks. This allows for investing in legitimate businesses rather than speculating on price movements.
• Amanah Finance Amanah Finance:
  • Key Difference: Focuses on Sharia-compliant home financing, addressing a fundamental need without interest.
  • Benefit over ProRealTime: Offers a real, permissible financial solution for a major life purchase, directly contrasting with the interest-based financial instruments prevalent on trading platforms.
• Physical Gold and Silver Physical Gold Bars:
  • Key Difference: Direct, tangible asset ownership.
  • Benefit over ProRealTime: Avoids speculative derivatives, leverages, and the inherent risks of trading paper assets. It’s a pure, Sharia-compliant store of wealth.

In summary, for a Sharia-conscious investor, comparing ProRealTime.com to other conventional trading platforms is like comparing different types of non-halal meat.

Generaltradingllc.net Review

The crucial comparison is between ProRealTime.com and its ilk and the genuinely Sharia-compliant alternatives that offer ethical means of wealth creation and preservation.

The latter provide peace of mind and blessings barakah that no conventional trading platform, however advanced, can offer.

Frequently Asked Questions

What is ProRealTime.com?

ProRealTime.com is a trading and technical analysis software platform designed for active traders and analysts to access market data, charts, and execute trades across various financial instruments like stocks, futures, forex, options, and cryptocurrencies.

It offers both web-based and downloadable versions.

Is ProRealTime.com suitable for beginners?

Based on the website’s description, ProRealTime.com claims to be “user friendly enough to allow new users to get started without any training.” However, the platform’s advanced features and the nature of the financial instruments it facilitates e.g., futures, options, forex mean that active trading often requires significant knowledge and carries substantial risk, making it challenging for true beginners from a financial risk perspective.

From an ethical standpoint, it is not suitable for beginners or experienced individuals seeking Sharia-compliant finance.

Does ProRealTime.com offer a free version?

Yes, ProRealTime.com offers a free version.

ProRealTime Web is stated to be free with all features included, and ProRealTime Complete is free with end-of-day data.

The platform can also be obtained for free if users are active with its partnered brokerage services.

What financial instruments can be traded on ProRealTime.com?

ProRealTime.com provides access to a wide range of financial instruments including Stocks, Futures, Indices, Cryptos, Forex, Gold & Silver, Commodities, Rates & Bonds, and Options.

What are the core features of ProRealTime.com’s platform?

Key features highlighted on ProRealTime.com include high-quality charting tools, over 100 technical indicators, real-time market data, extensive historical data, automated trend lines, custom scans, market replay, backtesting and optimization, multi-criteria alerts, automated trading, options chain analysis, and multi-screen display capabilities.

How does ProRealTime.com compare to MetaTrader?

ProRealTime.com and MetaTrader are both advanced trading platforms.

ProRealTime.com emphasizes its comprehensive charting and analysis tools directly within its proprietary software, while MetaTrader especially MT4/MT5 is widely used by forex and CFD brokers as a third-party platform for execution and charting.

Both facilitate conventional, often speculative, trading and are problematic from an Islamic finance perspective.

Is ProRealTime.com a broker?

No, ProRealTime.com is primarily a trading and charting software provider.

It acts as a “multi-broker trading platform,” meaning it allows users to connect and trade through various “leading online brokers” such as Interactive Brokers, IG, and Saxo.

What kind of customer support does ProRealTime.com offer?

ProRealTime.com states it offers “dedicated support” via email, phone, and screen sharing.

It also mentions a “dedicated account manager” and “individual platform training sessions available on request.”

Does ProRealTime.com offer automated trading?

Yes, ProRealTime.com offers automated trading capabilities, allowing users to “Automatically place the buy and sell orders of your investment strategy.” It also provides backtesting and optimization tools to refine these strategies.

Can I practice trading on ProRealTime.com?

Yes, ProRealTime.com offers a “Market replay” feature that allows users to “Practice trading on past data, on any instrument, in any time frame.” This is designed to help users test and refine their trading strategies.

What are the awards ProRealTime.com has received?

According to its homepage, ProRealTime.com has been awarded “Best Trading Platform 2024” by brokervergleich.com and “Best Platform for Investing 2024” by rankia.com.

It claims to have received “Best trading platform” by brokervergleich.com for the 7th consecutive year.

How many users does ProRealTime.com have?

ProRealTime.com states it has over 1 million users worldwide.

How much experience does ProRealTime.com have in the market?

ProRealTime.com claims to have 22 years of experience in the market.

Is there a ProRealTime.com mobile app?

Yes, ProRealTime.com offers “ProRealTime Mobile” for smartphones, allowing users to “Check the markets and trade wherever you are.”

What is the difference between ProRealTime Web and ProRealTime Complete?

ProRealTime Web offers “Instant access, no installation required” through a web browser.

ProRealTime Complete is a downloadable software providing “All ProRealTime features.” Both are available for free under certain conditions.

Does ProRealTime.com have a community forum?

While the homepage mentions “ProRealTime Community” in its Google search suggestions, the provided text does not elaborate on a specific community forum or feature on the website itself.

What are the risks of trading on ProRealTime.com?

The website includes a disclaimer stating that “Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced clients who have sufficient financial means to bear such risk.” This highlights the significant financial risks involved in the speculative trading activities facilitated by the platform.

Does ProRealTime.com provide investment advice?

No, the website explicitly states: “No information on this site is investment advice or a solicitation to buy or sell any financial instrument.” This disclaimer indicates that the platform provides tools and data, but not personalized financial guidance.

How can I learn more about ProRealTime.com’s brokerage services?

The website has a “Learn more about our brokerage services” link that details how to get the ProRealTime platform for free if you are active with their partnered leading online brokers like Interactive Brokers, IG, and Saxo.

What are some ethical alternatives to ProRealTime.com for investing?

Ethical alternatives for investing, particularly for those adhering to Islamic finance principles, include Wahed Invest halal robo-advisor, Zoya App halal stock screening, and investing in physical gold and silver. These options focus on permissible assets and avoid interest, excessive speculation, and gambling.