The post Tradovate Review by Sarah Horvath appeared first on Benzinga. Visit Benzinga to get more great content like this.
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With such a wide range of options available, choosing a futures trading platform can be difficult. Tradovate is an innovative futures broker offering proprietary desktop and mobile trading platforms. Our Tradovate review will help you learn more about the benefits and drawbacks that come with opening an account.
Tradovate is a specialized broker providing users with access to the futures trading market. Unlike some brokers that require traders to fund the purchase of their own trading platform, Tradovate offers its own proprietary platform — and it’s surprisingly comprehensive and powerful. Some of our favorite features included on Tradovate’s platform include the following:
- Depth of market (DOM): If you have a trading strategy that relies upon quickly executed, frequent trades, you’ll appreciate Tradovate’s DOM feature, which allows you to quickly analyze price information, manage your positions and place orders with enhanced speed.
- Cross-platform charting: Tradovate’s platform doesn’t only allow you to create custom charts — it also allows you to save those charts and access them across platforms, including both PC & Mac. For example, if you create a custom chart on your desktop, you can access it from your mobile account. This can be an especially useful feature if you usually switch between multiple platforms when investing and trading.
- Cloud-based order management: Tradovate’s cloud-based order management system keeps orders secure on the exchange on your server — never directly on your device. This provides you with faster order management and an enhanced level of security for your trades.
- Simulated trading accounts: Paper trading accounts allow you to practice your trading and investment strategies without risking any of your own money. This can help you assess how your unique trading strategy will fare using real market conditions.
- Demo account: Still not sure if Tradovate’s platform is right for you? Tradovate offers all users access to 2-week free trials with no obligation to open and fund an account after your trial period closes. This can allow you to test out Tradovate’s tools and compare the platform to your current platform directly.
Along with a comprehensive platform, you’ll also be able to explore a range of technical tutorials and educational tools through Tradovate’s website. For example, you can use the broker’s Community feature to connect with other futures investors and trade opportunities, strategies and ideas. This type of unique inclusion can help enhance your trading and help you get the most out of Tradovate’s platform and tools.
Tradovate offers 3 tiers of pricing strategies that allow you to customize your account based on the number of trades that you place and your unique needs as an investor. Tradovate’s 3 plan options balance monthly fees with per-trade commissions. Explore pricing on each account type below.
Plan name Monthly fee Commission schedule Free $0 $1.29 per side standard, $0.35 micros, $0.20 smalls Monthly $99 $0.99 per side standard, $0.25 micros, $0.15 smalls Lifetime $1,499 one-time payment or 4 installments of $499 $0.59 per side standard, $0.09 micros, $0.05 smalls
There is no funding minimum to open an account with Tradovate. Unlike some competing futures platforms, you won’t pay a monthly fee simply to access the Tradovate platform and use its full suite of tools and applications.
Tradovate offers a few unique options that you can use to contact the company’s customer services team.
- Through message: If you’d like to message Tradovate with a non urgent request, you can submit a request directly by filling out a request for contact form here.
- Via email: To get in contact with Tradovate through email, send a message to [email protected] if your inquiry is related to your specific account OR to [email protected] if you have a general question, comment or suggestion about the broker’s tools or platform.
- By phone: To contact Tradovate by phone, call 844-283-3100. Customer service hours of operation are currently not listed on Tradovate’s website.
- Though live chat: To access live chat features, begin by visiting Tradovate’s website and clicking on the green phone icon located in the top right-hand corner of the page. From here, you’ll gain access to a basic FAQ. Click on the blue button labeled Contact Us and leave your message with Tradovate’s customer service team.
With a host of access features, we awarded Tradovate top marks when it comes to providing comprehensive, proactive customer service.
Investors who need access to mobile trading can synchronize their Tradovate account with the company’s proprietary app, Tradovate Pulse. Tradovate Pulse leverages a range of additional features not found on the browser-based platform to make mobile trading easier, including:
- Enhanced speeds: Tradovate’s mobile app is built on Google’s new Flutter UI. This allows you to execute trades faster when trading on mobile.
- Streamlined interface: Tradovate’s mobile trading platform is highly streamlined and simplified when compared to its desktop platform. The broker is also continuously working to make information on mobile more easily available, eliminating as many needless taps and swipes as possible.
Tradovate’s team is working to make mobile futures trading easier by streamlining its Pulse app.
- Smart assistant messaging feature: The Tradovate Pulse app includes a built-in smart messaging system, which features an assistant that will provide you with important information on the assets you trade most frequently. You can access these messages through a single tap at the bottom of your app.
Tradovate Pulse is currently available as a free download for both Apple and Android users. Downloadable desktop applications are also available.
While Tradovate offers a wide range of features and tools that you can use to enhance your trading, we found its layout to be a bit cluttered and bulky. Locating tools was difficult when using the desktop demo account, which can be a considerable drawback if you’re a new futures investor whose trading strategy relies on a series of quickly executed trades. While other brokers allow users to link a familiar platform (like MetaTrader), Tradovate only uses a proprietary offering. This means that you may need to be prepared for a learning curve when beginning with Tradovate.
We recommend testing out a Tradovate demo account before deciding if the broker’s proprietary platform is the best choice for you.
This doesn’t mean that you should dismiss Tradovate because you have little experience trading. We recommend checking out the broker’s free demo platform before you make a decision. Even if you do have experience in the futures market, we recommend getting used to the platform’s layout with demo trading features before placing a real trade.
The following types of investors may be more likely to enjoy an enhanced trading experience through Tradovate:
- Experienced futures traders: If you have more experience trading on the futures market and you’re looking for a comprehensive platform packed with tools, Tradovate can be an appealing candidate.
- Traders who switch between mobile and desktop or web trading: Tradovate’s cloud-based software makes it easy to streamline setups and preferences across mobile and web-based platforms. Additionally, the broker is also working to streamline its mobile app, Tradovate Pulse as efficiently as possible.
- Futures traders looking to connect with a community: Tradovate’s community app allows users to share thoughts, strategies and trading ideas with other users. This can be a particularly helpful feature for new investors or those who enjoy social trading aspects.
Tradovate vs Competitors
Tradovate offers a few unique features that set it apart from competing futures brokers.
- Fee-free trading platform: While many futures brokers require investors to import their own 3rd-party platform, Tradovate offers a fee-free proprietary platform with a host of tools and features.
- Community trading: Tradovate’s community section allows you to connect with other futures traders, enhancing your education and gaining more unique perspectives on the market.
- Tiered pricing plans: The most advantageous commissions’ schedule for you will vary depending on your trading volume. Tradovate offers 3 pricing tiers to help you customize your payment schedule and control costs.
EdgeClear is a fast-rising, forward-thinking online broker specializing in futures trading. Futures trading can offer profitable opportunities if you’re seeking a fast-moving investment opportunity. However, futures are complex instruments and futures trading is risky — it is a highly leveraged form of speculation. EdgeClear aims to simplify the process by offering a practical solution that blends innovative technology with efficient customer service without sacrificing cost.
EdgeClear’s mission is to redefine the trading experience by providing exceptional customer service, robust technology, and a personal touch. They are committed to empowering their clients, from entry-level traders to seasoned professionals, with tools and support that enhance their trading journey. Their focus is to be a catalyst for success, offering a platform where expertise meets innovation in the trading world. This helps sustainability in your futures trading journey.
EdgeClear offers one of the most competitive commissions and fees compared to other future brokers. Its proprietary trading platform, EdgeProX, offers an all in one solution for the active trader. EdgeClear is led by highly knowledgeable industry experts with a comprehensive understanding of the complexity of futures trading from clearing to execution.
These experts are committed to meeting your toughest trading challenges and requirements through a combination of vast technical and practical trading experience. Benzinga spotlights EdgeClear, providing a constructive review of its features and services to help you decide if it’s the ideal futures broker for your trading journey.
- Experienced futures traders seeking robust and innovative futures trading platforms and technology to optimize their futures trading goals
- Futures traders (individual and institutional), Commodity Trading Advisors (CTAs), Commodity Pool Operators (CPOs), futures funding entities and other institutional clients seeking algorithmic trade execution
- Individual active online futures traders (both professional and independent) seeking robust trading technological infrastructure for direct market access
- Beginner futures traders or investors seeking accessible, low-cost and user-friendly futures brokers to kickstart their futures trading journey
- Those looking to advance their understanding of the futures market and trading setup via adequate educational resources that provide an inside look at common trading processes, struggles, successes and lessons
- Competitive and affordable futures commission rates and fees
- Beginner-friendly and feature-rich proprietary trading platform — EdgeProX
- Unparalleled customer service, evident from customer reviews across independent platforms like Trustpilot and Google Reviews
- Customers will receive a personal EdgeClear broker assigned to their account for all their trading needs
- Flexible account options, including IRA futures, account for tax-efficient retirement investing in futures and managed futures accounts
- Excellent educational and learning resources, including podcast and YouTube videos and Knowledge Base (Support Center)
- Demos or simulation accounts to help you try out strategies before signing up to a live account
- Multiple futures products across various asset classes and exchanges
- Currently only supports futures trading
NinjaTrader is a powerful derivatives trading platform specializing in futures, forex and options. The platform has a number of unique trading tools. A free version does exist without the extra goodies provided by Trader + and OrderFlow + but users can still break down charts, backtest strategies and trade without upfront payment. NinjaTrader hosts its own brokerage services but users have their choice of several different brokerage options. Accounts have minimums depending on the securities traded and commissions vary depending on the version of the platform. Advanced derivatives traders will have endless fun with the platform’s mighty array of tools and analyzers.
The free version, which is included with all brokerage accounts is a great starting platform for new traders without the financial commitment. As you grow in your trading and are ready for more tools and functionality, you can add more complexity.
- Futures Traders
- Traders looking for 24/7 action
- Advanced Traders
- Powerful analysis tools
- Free download and simulated trading
- Open source trading apps to enhance experience
- Can only trade derivatives like futures and options
Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 150 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.
IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.
- Futures traders
- Trading futures 24/7
- Sophisticated investors
- Access to international markets
- Buy & sell futures at lowest commission rates
- Hedge positions or act on price movements in 150 financial markets worldwide
- Trade futures side by side on a single screen w/ substitute asset classes in stocks, bonds, options
- Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources
Optimus Futures is a leading discount futures broker offering highly customized trading solutions geared towards cost-conscious retail traders with an eye for technology and personal service. Customers gain access to premium tools at no additional cost such as depth-of-market surface, footprint charting, and real-time news alerts along with a fully integrated trading journal.
Users can register a trial version of their software to take a test-drive of the platform, unlocking many of the analysis and charting features including unlimited simulated trades. Traders can also leverage Optimus Futures 3rd party app integration, allowing you to choose the futures trading platform best suited for you.
- Futures & micro futures traders
- Low account minimums, commissions, and margins
- Beginner futures traders
- Unlimited simulated trading
- Low day trading margins
- Highly experienced and competent technical support
- Customizable data fees and order clearing
- Limited to derivatives trading like futures
- The selection of data feeds and clearing firms can be overwhelming for newer traders
Tickmill is an award-winning, multi-regulated investment firm offering trading in a plethora of asset classes including, CFDs in forex, precious metals, indices, stocks, commodities, cryptocurrencies and bonds.
Apart from offering various platforms, Tickmill caters to traders of all levels by providing competitive pricing, leverage up to 1:500 depending on the entity and client classification, dedicated support, exclusive market analysis and a wide array of trading tools and education. This low-spread broker offers fast execution, several payment methods and no restrictions on trading strategies such as hedging or scalping.
Futures and Options are offered with Direct Market Access across multiple globally regulated Futures exchanges including CME, CBOT, NYMEX, COMEX, EUREX, ICE Futures Europe and more. Real Futures include Stocks, Indices, Forex, Metals, Cryptos and Energies like the Micro E-Mini S&P 500, Micro E-Mini Nasdaq 100 and Micro Bitcoin Futures.
Future and Options are offered with probably the lowest fees and transparent commission structures in the industry, ultra-low latency, and seamless trading solutions for high volume trading with reliable, flawless order routing underpinned by advanced technologies.
Tickmill has become a trusted market-leading broker because of its commitment to seeking regulations in several jurisdictions. Traders have access to forex, stocks, commodities, cryptocurrency and bond markets as well as Futures and Options.
Free educational content and advanced tools are available for novice and experienced traders to help them enhance their trading strategies and achieve their trading goals.
The 20+ awards received are a testament to Tickmill’s commitment to providing optimal trading conditions for retail and institutional clients. Besides offering low spreads and fast execution, Tickmill ensures no trading restrictions, access to CFDs and occasionally runs campaigns (under Tickmill Ltd) to reward traders for their loyalty and activities.
- Forex, stocks, commodities, precious metals, bonds and crypto with competitive conditions
- Futures & Options trading with probably the lowest fees in the industry
- Retail and institutional clients
- Traders seeking various platforms and accounts
- Beginners wanting free trading tools and educational material
- Traders incorporating advanced tools and algorithm systems
- Strongly regulated broker
- Swap-free accounts available
- Enables access to various markets and asset classes
- Fast execution speed in milliseconds
- Crypto trading available 24/7 with 0 Commissions, 0 Swaps
- Deposits and withdrawals in BTC, ETH and USDT
- Free educational content
- Negative balance protection
- Mobile app available for account management
- User-friendly client area
- Free demo accounts
- Live chat is unavailable on weekends
Generic Trade calls itself a “no bells, no whistles” broker, but that doesn’t mean it contains limited offerings. The company features trading for futures and options on futures. Research is limited, but customer support is available 24/7 and direct market access guarantees fast trades at optimal prices.
Generic Trade’s big selling point is its low $0.59 commission on all trades. Better educational materials and more platform varieties are available elsewhere, but Generic Trade offers true bang for your buck with its institutional infrastructure and state of the art platform technology.
- Futures Traders
- Options Traders
- High volume day traders
- Those that wish to trade futures and options on the same platform
- Low $0.59 commission on all trades, regardless of account size or volume
- No minimum needed to open an account
- Exchange minimum margin and aggressive day trading margin
- Contracts available for most asset classes
- 24/7 tech support and customer service
- No volume discounts
- Must pay platform fee to use full suite of trading tech
- Even though the free Generic Trader Online offers real-time quotes and charts, they are not streaming and do not offer market depth. Also, the trading tools are not nearly as robust as the other platforms
AvaTrade is a highly trusted and globally recognized brand known for its wide range of trading platforms for forex and CFD traders. They provide exceptional educational content, so much so they earned the Best in Class rating for Education and Beginners again in 2024.
A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan. AvaTrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex and cryptocurrencies. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.
- Beginners
- Advanced traders
- Traders looking for a well-diversified portfolio
- Controlled by regulatory agencies of multiple countries
- Choice offered in terms of trading platforms
- Support available in 14 languages and trading platforms in 20 languages
- Practice/demo account available
- Breadth of trading assets
- Excellent educational resources
- Does not accept customers from the U.S. as it isn’t regulated in the U.S.
- Transferring funds to the account may take up to five days; withdrawals could take up to 10 days
Offering a comprehensive platform and a variety of pricing plans, Tradovate is a strong choice for experienced futures traders. In particular, we love the fact that the broker offers trial accounts for new users looking to investigate the platform before opening an account or submitting any of their personal information. Tradovate’s customer service team is equally as impressive, with a range of responsive options. Though Tradovate’s proprietary platform might be overwhelming for new futures trades, intermediate and experienced investors will likely find plenty to love through Tradovate.
Frequently Asked Questions
Is Tradovate free?
Tradovate’s Membership Free access does not have a monthly platform or subscription fee, you only pay commissions and trading fees for any trades placed. Tradovate’s Active Trader & Commission-Free Membership plans have a membership fee in exchange for discounted and no-commission pricing respectively. You can always access a free demo trading account to test out the broker’s features before committing to opening an account.
Is Tradovate a broker?
Tradovate is a futures broker and futures trading platform provider.
The post Tradovate Review by Sarah Horvath appeared first on Benzinga. Visit Benzinga to get more great content like this.