Most (if not all) Protestants believe the elements are representative of the Body and Blood of Jesus.
Thus, it is the commemoration, rather than the actual substances that are significant.
I believe that we in the Spirit participate with the Lord when we observe communion.
I believe that Spiritual things are real and that Jesus' words to us were "spirit and life."
Communion is a commemoration, but it is not "symbolic"...rather, it is spiritual.