The popular MultiCharts platform is known for its charts with high definition and backtesting features with extreme precision.
These are tools that traders need to have on their arsenal, and for this reason futures prop firms have it available for their traders.
Let’s check the prop firms that offer MultiCharts, and then dive a bit into the platform.
List Of All Prop Firms With MultiCharts
Here’s my current list of proprietary trading firms that currently support MultiCharts.
| Prop Firm | Profit Split | Cost | Max Balance | Rating | Review | Visit |
|---|---|---|---|---|---|---|
|
up to 90% | from $150/month | $150,000 | 4.8 |
Read review | |
|
90% | from $115/month | $250,000 | 4.4 |
Read review | |
|
up to 80% | from $89/month | $200,000 | 4.3 |
Read review | |
|
90% | from $145/month | $100,000 | 4.2 |
Read review | |
|
80% | from $150/month | $400,000 | 4.1 |
Read review | |
|
up to 90% | from $26/month | $300,000 | 4.0 |
Read review |
Which Prop Firm With MultiCharts Should You Choose?
Now that you know which firms have MultiCharts, it will all depend on your needs. The best prop firm for each trader is not necessarily the best for another trader.
The list I’m showing you above is ordered in terms of popularity though, so it should give you a hint about what prop firm traders prefer.
The next step is to compare prop firms with each other.
Use this tool below and you’ll get a full comparison of the firms side by side. Just make sure you select the ones with MultiCharts.
Compare Any Prop Firm
If you want to compare their challenges, you can use the PropScan tool instead.
What Is MultiCharts?
MultiCharts is a popular trading platform used by professional traders. It’s developed and sold by MultiCharts LLC.
It started being developed in 2005 and the main intention was to make it simple enough to be adaptable to traders, rather than making traders need to adapt to the platform.
Trading is already hard enough to do it the way we feel comfortable, it will be even worse if we have friction points with a platform.
That’s why MultiCharts succeeded. Now, many years later, this platform is still earning industry awards and recognition, the reason why is offered by many futures prop trading firms.
How Is MultiCharts Useful To Trade With Prop Firms
There are several key points that make MultiCharts a great trading tool to take your prop trading challenges.
Here are them:
- Comply with the trading rules: With MultiCharts it’s easy to program the specific trading rules that a prop firm has. Some examples are the maximum daily or overall drawdown limits or position size requirements.
- Managing multiple accounts at once: If you trade several accounts at once, and even from different prop firms, this is a great feature. You can run multiple trading strategies across different accounts.
- Good risk management features: You can track your position P&L in real time, set automated stops, and limit your position sizes. This will help you to stay under the limits imposed by the prop firms.
- Strategy testing: No one wants to run a strategy that doesn’t work, and this is where MultiCharts shines the most. You can make precise backtests using historical data, and paper trade in real time to check the real edge of the strategy before risking an evaluation attempt.
Advantages Of Using MultiCharts With A Prop Firm
These are the main advantages of MultiCharts:
- Performance and speed: The data is processed much faster when compared to other trading platforms and it can easily handle multiple charts and time frames at the same time. The speed at which it executes the trades is also a good point.
- Extensive customization options: By default, it already comes with a big library of indicators, but you can create custom ones if you need them. The chart layouts have a multitude of configurations available. It also supports multiple data feeds from different providers.
- Reliability features: Ever had a crash on your system and lost your configs? With MultiCharts, the system automatically recovers after a crash. Besides that, it has redundant connectivity options for trade execution, you don’t need to rely on a single one that may fail from time to time.
- Advanced trading tools: The list is big, but I give special importance to the sophisticated backtesting engine, testing your strategy on a portfolio level, a good scanner for market opportunities, and the advanced order types and execution options.
Disadvantages Of Using MultiCharts With A Prop Firm
Nothing shines on everything, and MultiCharts is no exception. Here’s a list of things that could be improved:
- Cost: The initial cost can be high when compared to some competitors. Some advanced features may have a subscription fee, and you need to pay more if you need to have multiple licenses.
- Technical requirements: You need a good computer with recent hardware to run MultiCharts. Since it’s not cloud-based, it will eat a lot of your RAM and CPU while running.
- Learning curve: It may take some time to master the interface. The same for the PowerLanguage, which you can use to program and can be challenging to some people.
- Limited features: This includes mobile trading, no native Mac version (requires the use of an emulator), and fewer third-party tools and add-ons available.
