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Trading futures with Tradovate "no commissions" broker?
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Trading futures with Tradovate "no commissions" broker?

  #71 (permalink)
Lake Michigan (Summer), N. Miami Beach (Winter)
 
Trading Experience: Advanced
Platform: TOS, Ninjatrader
Broker/Data: Tradeovate, TOS, Dorman
Favorite Futures: indices/currencies/interest rates/energies/metals/grains
 
Posts: 421 since Oct 2009
Thanks: 219 given, 714 received


TraderEX View Post
I started with GO Futures(.99 per side) and then Generic Futures(.59 per side) Both through Ironbeam. I subscribe to the notion that if you have nothing good to say you do not offer it out of the blue.

So, about tradovate.

I found them when I was looking to find a more suitable home for my scalping. To me, when the service is 100%, free platform and club pricing, I had to try it. I am still with them 2 years later.

Free platform- I had to pay $49.95 a month with the first guys. With Tradovate it's free and that means I'm $50 ahead from the start.

Customer service- First guys, none. When I called I was at risk for up selling. was offered 500 day rates for the ES with a $35 per side commission rate. I was also called every two weeks or so by someone different under the guise that they were seeing if all was well. say one thing is not good and they will sell you whatever you need to make things better.
Tradovate offers 500 day rates to all, upfront and in the advertisement. Andrew Sevin (7) uns the show for customer service and is flawless to date. I do not call very much as I have no problems with the things promised. I called in the past when I didn't know how to retrieve some functions. If I had read the help button I would have never called(chat box not a call). took me time from PTSD that the first guys dumped on me. While trading under Tradovate at the beginning, if the phone rang I hid under the covers and then unplugged the phone. someone knocked on the door, I ran to the basement...

About Club Pricing-You are a member, not a client. Three current plans to choose from. No plan- $0.79 per side. Intermediate plan- $99.00 flat and $0.19 per side. unlimited round turns- $199.00. These are prepaid by the month and a discount is available by the year.

Break-even analysis($199.00)- no plan $199.00/(0.79 x 2)= 126 roughly intermediate plan $199.00/$99.00 +$0.19 per side) roughly 270

Conclusion. As a member there you get top customer service from 7 and his crew. You get a free platform to use. And the ability to grow within the club as you mature.
If you trade,
125 contracts or less per month then 0.79 per side is your best deal
between 125 and 270 contracts then intermediate is for you
All others start saving from the 270 plus mark. you save whatever someone else would charge you.

For me, unlimited is the boss and I just figure in 50 a week or 10 a day if I trade all 5 days. On days that I am slightly ahead, say 100 or so, most of that comes from what I did not pay someone else. A very happy customer there.

EX

Now that's a REVIEW! Bravo.

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  #72 (permalink)
Buenos Aires Argentina
 
Trading Experience: None
Platform: Ninjatrader
Favorite Futures: E mini ES
 
Posts: 18 since Mar 2018
Thanks: 0 given, 0 received

To those users of this site who have traded with Tradovate ...

What was your experience with the platform per se?

It was accurate and effective? Or someone found some failures on the platform?

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  #73 (permalink)
Netherlands
 
Trading Experience: Intermediate
Platform: TWS & SierraChart
Broker/Data: InteractiveBrokers & Sierra
Favorite Futures: DAX & Bund
 
Posts: 270 since Jun 2013
Thanks: 589 given, 342 received


Yes, they're pretty good in terms of pricing. Especially if you make a lot of trades per month (500+).
Their platform is in constant development, and although it looks nice, it's nowhere near reliable software like Sierra Chart.
Another thing is that their trades go through Dorman and I found their executions are slightly worse than Interactive Brokers.

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  #74 (permalink)
Detroit, MI/USA
 
Trading Experience: Intermediate
Platform: S5 Trader, Tradovate
Favorite Futures: ES,CL, NQ
 
Posts: 38 since Jan 2017
Thanks: 2 given, 7 received

I had tradovate they were ok if you trade alot but I found that it was actually cheaper to go with the broker I'm with now and at 0.79/commission its definitely not worth it to be restricted to their platform or pay a connection. Also tradovate still needs work on their software during volatility you will notice stalls maybe they fixed that but commissions werent competitive enough to warrant renewing

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  #75 (permalink)
Legendary you know what!
Indianoplace, IN
 
Trading Experience: Intermediate
Platform: SierraChart
Broker/Data: CQG
Favorite Futures: 6B, 6E, 6J, NQ
 
Rrrracer's Avatar
 
Posts: 1,760 since Feb 2017
Thanks: 10,437 given, 6,240 received

One can use Sierrachart with Tradovate, but there is a monthly fee to do so plus CME data charges, IIRC.

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  #76 (permalink)
Yakima WA
 
Trading Experience: Beginner
Platform: Tradovate, Tradingview
Favorite Futures: Crude CL
 
Posts: 28 since Mar 2019
Thanks: 67 given, 17 received


Blaster666 View Post
To those users of this site who have traded with Tradovate ...

What was your experience with the platform per se?

It was accurate and effective? Or someone found some failures on the platform?

I have been using Tradovate now for about a month and plan to continue with them. I haven't run into any real problems or issues. Everything is on the cloud so it uses their resources to run so you dont need a high powered computer to use it just a decent internet connection. I am not trading enough contracts to warrant the monthly fee for free commissions yet, and even without those plans, $.79 is still cheaper than Ninjatrader which I think is like $.83 or something.
Anyway, you have to pay like $7 per month for exchange data+DOM data and it is a couple dollars per month for each exchange data stream you add.
The simulated paper-trading works really well. It seems like it remembers the place you enter into a position at and fills in order of the actual flow. So if you put a limit order in your order will get filled after it runs through the contracts ahead of you.
I think you have to pay like $35 extra to get market replay.

The charts could have more indicators but I use tradingview for most of my charting. The Tradovate charts are better looking and easier to navigate than RTraderPro if you have used that. Tradovate has a way to build custom indicators too and share them to the community for download. I was able to download the Awesome Oscillator somone had built and it pops right into the list of other indicators and ready to use.
The default sign-up option is with Dorman. If you contact support before you sign up and ask, they can also give you a link to to sign up with Phillip Capital instead which has ACH banking, which Dorman is doesn't. I signed up with Dorman and they email you a summary everyday of your account if you traded that day.
The Tradovate customer service was good. They responded to every email I asked a question on within a half hour during the normal business day.
And they don't spam my email with promotions and marketing which is nice.

Edit: Also forgot to mention that in simulated trading, it simulates the commissions and fees costs so you can get real profit lost estimates that factor in the trading fees. That is really nice imo.


Last edited by ClearTrades; April 17th, 2019 at 04:54 PM.
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  #77 (permalink)
Buenos Aires Argentina
 
Trading Experience: None
Platform: Ninjatrader
Favorite Futures: E mini ES
 
Posts: 18 since Mar 2018
Thanks: 0 given, 0 received

Thank you all for the answers.

My main fear is about unauthorized execution of trades without my consent. Or a failure on the platform so that there is a loss of funds.

I guess Phillip Capital is good enough, reliable FCM.

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  #78 (permalink)
Yakima WA
 
Trading Experience: Beginner
Platform: Tradovate, Tradingview
Favorite Futures: Crude CL
 
Posts: 28 since Mar 2019
Thanks: 67 given, 17 received


Blaster666 View Post
Thank you all for the answers.

My main fear is about unauthorized execution of trades without my consent. Or a failure on the platform so that there is a loss of funds.

I guess Phillip Capital is good enough, reliable FCM.

Okay, yeah, I know that at least with Dorman Trading the money is wired to BMO Harris Bank out of Chicago.
I would definitely practice on the simulation account first until you get the hang of placing orders though. You can trade from the chart, from buttons and directly from the DOM, and you have to be especially careful with that because it is 1-click instant trading depending on a right-click or a left-click on the DOM. It will place a stop order or limit order in 1 click depending on where you click on the DOM order book and if you are unsure what your mouse clicks will do you could potentially make bad trades.
They have bracket orders and advanced oco and oso orders too which is what I mainly use...so that once my trade is filled it sets my target and stop loss and once my target is filled it automatically cancels my stop loss order. I select order types first and then put in the prices. That's what I have found to work the best for ensuring accurate trades. Double check everything of course. Your trade positions show up on the DOM and on the chart so it is easy to see.

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  #79 (permalink)
Legendary Market Wizard
Wiltshire, United Kingdom
 
Trading Experience: Beginner
Platform: Jigsaw daytradr
Favorite Futures: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 665 since Sep 2013
Thanks: 1,260 given, 1,066 received

@Blaster666
I used Tradovate and TSTrader at various times and was happy (TSTrader is the Topstep Trader branded version of the Tradovate platform).
I use Jigsaw trading tools and they work with a data bridge off Tradovate very well. I have also found Tradovate support very helpful when required.
The only issue I had is that the platform can use a lot of CPU during fast markets. Especially now they have added orderflow tools. The footprint chart for instance I tried but found there were periods where the price line was moving up and down with price but the numbers showing the volume transacted weren't changing and the chart would need to be reloaded. Or adding volume profiles to a chart puts the CPU load up too (processor i7-4771 3.5 GHZ quad core, so a good processor but about three or four years old). My view is the platform has everything I want but I think it will benefit from time allowing performance improvements from the developers to work through the system.
There is an iphone app for Tradovate so if the platform goes down that can be used for position management if required.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #80 (permalink)
Buenos Aires Argentina
 
Trading Experience: None
Platform: Ninjatrader
Favorite Futures: E mini ES
 
Posts: 18 since Mar 2018
Thanks: 0 given, 0 received


Well ... surfing on Internet I found some videos from a guy named Marcelo Arrambide (day trading academy) of which I think is a suspicious person ... I don't like his "academy" ...

Well ... this guy founded a company named Speedup Trader ... in short it is a platform to trade futures (without NFA regulation) ...

This platform is the same as Tradovate's platform ... when logging in https://speedup.tradovate.com/ with my demo credentials from trader.tradovate.com ... then I can get demo from speedup trader

Maybe Tradovate's platform is in fact Speedup Trader's platform?

As for what I know, Topstep Trader neither has NFA regulation ...

My interest is a broker with a regulated, legit, reliable platform ...

Please tell me if I am wrong with some of these paragraphs above. Thx.

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