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Tradovate's Ask Me Anything (AMA) w/Rick Tomsic (Founder) and Brian Weis (President)
I wanted to love Tradovate so bad. She turned me down though.
I've been waiting on SPAN margin for years. I want to do simple ES option hedging of an ES futures position... or complex option strategies.. or futures intra spreads... but no dice
I also would love it if they kept their awesome REST API open. Then endpoints are still visible in Swagger, but they don't support it. I looked for a year for a REST Futures API.. no one has one. Tradovate does but doesn't make it available. This would be a huge differentiator and would draw in more customers.. since every other futures broker makes it damned difficult to programmatically handle even the simplest of strategies. I'd be willing to pay for this.
any chance tradovate would consider adding SPAN and opening their REST api to the public?
Can you help answer these questions from other members on NexusFi?
Currently, we are only offering access to the API to B2B partners. There is quite a growing demand from retail traders for access as well. Because of that, we have an active internal effort to get organized around making access generally available in the next couple of months. So, API access for retail traders will be coming in the short term (Q2('ish) 2021 timeframe).
Pre-trade SPAN is something we've discussed quite a bit over the years (as you noted). Our team has built one previously and it is something we will schedule, but, at this point, I cannot provide any target dates for that one.
This would be awesome. It's my one major frustration because sometimes you can identify some important levels in the TPO chart that are only clearly visible more than 2 weeks back. And there may also be some naked POCs from more than 2 weeks back which would be good to be able to identify if more historical data on the TPO is available.
Tradovate does not have a minimum deposit requirement. If you are trading the ES Minis (not the Micro), the day trade margin is only $550. Therefore, you can trade one contract for $550. Keep in mind with the ES price at approximately 3900, the ES represents $195,000 of notional value. Therefore, we suggest you give yourself enough room for this type of leverage.
1st, thanks for being here and for answering our questions.
I am looking for another solution to connect my Jigsaw platform (broker + data). Yesterday I had an interesting chat with Akbar, one of your representative and I didn't mentioned the following, as I wanted to test the water first:
With my actual broker, 2 days ago in a middle of a trade, I received about 10 more fills at odd prices and then again 8 more filled contracts in all directions. I immediately exited and canceled everything. Result = + about $2,000, which was just impossible. Few hours later, everything seemed fine and I bought and sold few contracts. Then, no position was left open. At 5:50pm Est, during the Globex break, I checked my platforms and I saw that I was short for 2 contracts (this was not possible...).. At the Globex reopening, again I flattened everything, with a small gain.
I consider myself very lucky. My broker sent an email which is a beginning of apologies and explained that all positions have been corrected on our statements: Well, I am actually +$250 because of the emergency exits that I took (even when I was flat without knowing it). Again, lucky me.
Anyway, I know "others" offer a "built-in audit trail" inside their system. Now, because of my paranoia (guess why?) I record all my screens at once with Bandicam which BTW is a great little inexpensive software.
So my question is, what kind of solution do you offer when or if that kind of problem happens?
Thank you.
Thanks for the question. Technology can always fail, but at Tradovate, we have many safeguards to help you always know your position.
Tradovate is not just a “front-end” like many other trading software connecting to an ISV (CQG, Rithmic, TT, etc.). Tradovate is a complete cloud-based middleware. One tool we provide is our “Activity Log.” It is a real-time module that shows every action. You can also sort the Activity Log by Orders, Positions, Cash Transactions, and User Actions. It is great too to be able to see what actions you took click by click.
Tradovate also has detailed reporting built into the software for on-demand reporting. With this tool, you can query orders, fills, cash movements, commissions, fees, and more. You can drill down to just the information you need.
Lastly, since Tradovate is cloud-based, we have a real-time record of all your orders, fills, etc. Therefore, if an FCM sends inaccurate information, you can always look to the Tradovate platform to compare. Since Tradovate also includes all fees on every trade, you are not left guessing at your actual account balance. It updates in real-time.
There are plenty more tools in Tradovate to manage orders and positions, but I hope this answers your question.
It's my one major frustration because sometimes you can identify some important levels in the TPO chart that are only clearly visible more than 2 weeks back. And there may also be some naked POCs from more than 2 weeks back which would be good to be able to identify if more historical data on the TPO is available.