Tradovate IB: Why not? - Brokers and Data Feeds |
futures io futures trading

Tradovate IB: Why not?
Started: by Laconic Views / Replies:839 / 2
Last Reply: Attachments:0

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Closed Thread
Thread Tools Search this Thread

Tradovate IB: Why not?

  #1 (permalink)
Trading Apprentice
New York, New York, USA
Futures Experience: Advanced
Platform: Tradovate & Investor R/T
Favorite Futures: Emini ES
Posts: 18 since Jun 2016
Thanks: 10 given, 11 received

Tradovate IB: Why not?

(I would have put this in the Brokers and Data Feeds sub-thread, but I do not have enough posts yet. )

I have been looking into Tradovate as a potential IB.

For those who do not know, Tradovate is a new IB (open only a few months) that charges a flat monthly fee (for example, $99/month for one trading account if you pay for a year upfront) plus $.09 per side "clearing" which goes to their FCM, which is Dorman. This is really cheap.

I can come up with several disadvantages of going with Tradovate:

- Their platform is very limited right now. But, with the savings, you can easily afford another data feed/charting package to do market analysis. (You can trade Tradovate's platform on the web or on a mobile device in addition to on a computer; that's not a big deal for me but it is "better" that what you get from many other IB's.)

- Tradovate is "new". I do not have any idea what the success/failure rate is for new IB's. I have no idea how many customers they have to sign up and how quickly to stay in business. I do know that Dorman is a substantial firm and that customer funds are segregated at Harris Bank. I just don't know how much of a problem it will be for me if say seven months from now Tradovate shuts down.

- A combination of the prior two reasons: the platform is new... therefore it has not been tested through all sorts of market conditions. (Although I guess Tradovate was already open for Brexit... any war stories out there?)

- Position limits. $500 day trade margin is available on emini index contracts, but only up to 20, with a max position limit of 75. (Contracts 21 to 75 are 50% margin for day trading.) Other contracts are 50% margin for day trading, with a 50 contract limit. These limits are not a problem for me (for the near future? hope springs eternal!) and certainly one does not even need to trade near that size to enjoy substantial commission savings from Tradovate's model. I do not avail myself of day trading margins so that is not an issue for me either.

I will say that customer service has been very responsive and helpful.

So, the point of this post: In your view, are any of the reasons listed above (or any others I have not thought of) important enough that I should avoid Tradovate? Does anyone else have any experience, good or bad, with them?

Thanks in advance for your thoughts!

  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

  #3 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 45,801 since Jun 2009
Thanks: 29,097 given, 81,372 received

Please use the existing thread:


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Closed Thread

futures io > > > > Tradovate IB: Why not?

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

PTMC Protrader Platform First Look w/Sergey Sokolov

Elite only

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

FIO Video Journal Challenge featuring NinjaTrader ($2,000+ of prizes)


Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading futures with Tradovate "no commissions" broker? jmboss Brokers and Data Feeds 57 March 14th, 2017 04:52 PM
IB datahogg Hire a Consultant or Programmer 0 March 20th, 2016 12:34 PM
IB steve2222 Terms (Glossary) 0 December 24th, 2015 02:36 AM
Trading with IB tubular2000 Brokers and Data Feeds 4 September 9th, 2013 12:04 AM
IB live versus IB demo NW27 IB Trader Workstation 4 April 30th, 2013 02:48 AM

All times are GMT -4. The time now is 05:56 PM.

no new posts
Page generated 2017-03-25 in 0.09 seconds with 19 queries on phoenix via your IP