Tradovate Forex broker specializes in providing foreign exchange trading services, the company's official website https://trader.tradovate.com/register, the company's legitimate regulatory information United StatesNFACommon Financial Service License, to enhance the security of the company's address 222 N La Salle St., Suite 1450 Chicago, IL 60601.
Tradovate Forex Broker
Basic information
United States
5-10 years Suspicious Regulatory License Global Business Suspicious Overrun High potential riskCompany profile
General information
Founded in 2015, Tradovate is an online futures and options broker, providing low day trade and initial margin rates, over 40 advanced trading tools, and the ability to trade over 100 products from leading exchanges. Tradovate is designed for speed and multi-device trading, making it suitable for active futures traders. It supports trading of futures and options on futures on the same platform, and is compatible with both PC and Mac. The platform allows trading of various types of contracts including index, interest rate, metals, energies, and grains in full size, mini, micro, or new nano size contracts.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Regulatory Information:
It has been verified that this broker currently has no valid regulation. The United StatesNFA regulation (license number: 0485810) claimed by this broker is suspected to be clone. Please be aware of the risk!
Introduction of Pros and Cons:
Pros:
Advanced Trading Platform: Tradovate offers a proprietary, cloud-based trading platform that is available on web, desktop, and mobile. The platform is equipped with over 40 advanced futures trading tools, making it a comprehensive solution for futures traders.
Variety of Tradable Instruments: Tradovate provides a wide range of futures and options contracts for trading. This includes contracts in indices, interest rates, metals, energies, and grains in full size, mini, micro, or new nano size contracts.
Flexible Pricing Plans: Tradovate offers a choice of membership plans, including a commission-free trading plan. This flexibility allows traders to choose a plan that best suits their trading style and volume.
Educational Resources: The company provides a trading blog, press releases, and a FAQ section as educational resources, which can be beneficial for both novice and experienced traders.
Customer Support: Tradovate has a dedicated customer support team that can be reached via telephone, email, live chat, and social media, ensuring that traders can get assistance when needed.
Cons:
Limited Asset Classes: Tradovate focuses exclusively on futures and options on futures. It does not offer forex or cryptocurrency trading, which may limit traders who wish to diversify their portfolio with these asset classes.
Minimum Deposit Requirement: There is a minimum deposit requirement of $250 to start trading with Tradovate. This might be a barrier for some traders, especially beginners who are hesitant to invest a large amount initially.
Complex Platform: While the advanced features of Tradovate's trading platform are a boon for experienced traders, beginners may find the platform complex and challenging to navigate.
Market instruments
A series of futures are available: indices, currencies, precious metals, energies, commodities, meats.....Tradovate allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Tradovate.
Spreads and commissions
The platform provides three commission plans: Free, Monthly, and Lifetime. Each plan has different per-trade commissions for Micros, Standard, and Nano & Event Contracts. The Free plan charges the highest per-trade commissions, while the Lifetime plan offers the lowest. In addition to per-trade commissions, traders should also consider exchange, clearing, and NFA fees. Tradovate does not charge any platform license fees, regardless of the commission plan chosen.
| Fee Type | Free Plan | Monthly Plan | Lifetime Plan |
| Micros | $0.35 per side | $0.25 per side | $0.09 per side |
| Standard | $1.29 per side | $0.99 per side | $0.59 per side |
| Nano & Event Contracts | $0.20 per side | $0.15 per side | $0.05 per side |
| Exchange, Clearing, and NFA Fees | Apply | Apply | Apply |
| Platform License Fees | $0 | $0 | $0 |
Account Types for Tradovate
Demo Account: Tradovate provides a demo account that allows you to try out the financial markets without the risk of losing money. The period is 14 days.
Live Account: in contrast with those forex brokers who offer free accounts, Tradovate provides its clients with some plans. The free plan has higher commissions, while the commission free plan has a monthly fee of 199 USD, and there is also a 99 USD per month plan with a lower commission level than free plan.
Trading platforms
The company's trading platform is an in-house developed platform that can be used on computers, cell phones and tablets.
Leverage offered by Tradovate
You can't find information about trading leverage on Tradovate's website. Some forex brokers offer leverage of up to 1:500, but newbies are advised to be cautious about such high leverage.
Deposit and withdrawal methods and fees
These funding methods are available at Tradovate: mailed check, wire transfer, ACH bank transfer.
In order to withdraw money, you may Fill out the Withdrawal form and press Confirm and Transfer to initiate the withdrawal. You can initiate a withdrawal via Wire or via mail ordered check. Checks will be mailed by the next business day, or overnight if the overnight box is checked. A $50.00 overnight check fee will apply in this case. For Wire transfers, a $30.00 fee will be issued for domestic transfers, and a 50.00 fee will be issued for international transfers in the currency being sent.
| Deposit Method | Funds Holding Period | Limit |
| Mailed Check | 5 business days once funds are received | No limit per check |
| Wire Transfer | Funds available the next business day | No limit per wire transfer |
| ACH Bank Transfer | Not specified | Maximum daily deposit of $5,000 |
Educational resources
A series of educational resources is available at Tradovate, such as communities, videos, FAQs, resource center, etcetera.
Customer support of Tradovate
Below are the details about the customer service.
Language(s): English
Service Hours:
Email: info@tradovate.com
Phone Number: 1 (844) 283-3100
(312) 283-3100
Address: 936 Home Road, Delaware, OH 43015
Social media: Facebook, LinkedIn, YouTube, twitter
Users exposures on WikiFX
On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Advantages and disadvantages of Tradovate
Advantages:
Educational resources
Demo account
Disadvantages:
Complaints
Possible withdrawal fees
No effective regulation
Few information available
Few deposit and withdrawal methods
No MT4/MT5
No copy trading
No cryptocurrencies
Summary:
Tradovate is a cloud-based futures trading platform that offers a range of features designed to streamline the trading process for its users. The platform provides access to advanced charting, market replay, and custom order strategies. It offers a choice of membership plans, including commission-free trading options. However, it does not offer forex or crypto trading, and the minimum deposit is $250. The platform may be too complex for some users.
Frequently Asked Questions:
Q: What is the minimum deposit for Tradovate？
A: The minimum deposit for Tradovate is $250.
Q: Does Tradovate offer a demo account？
A: Yes, Tradovate offers a 14-day simulation account to try out the platform and practice trading strategies.
Q: Is Tradovate regulated？
A: No. The United StatesNFA regulation (license number: 0485810) claimed by this broker is suspected to be clone. Please be aware of the risk!
Q: What trading instruments does Tradovate offer？
A: Tradovate offers futures and options trading.
Q: Does Tradovate offer forex or crypto trading？
A: No, Tradovate does not offer forex or crypto trading.
Rating Index
Tradovate Similarly Rated Brokers
Latest Reviews
.AA
Taiwan
All kinds of messy fees are too much, the transaction cost is too high, the money is almost deducted, and there is no money at all. I was really blind at the beginning, I believed their nonsense and put the money with them, which caused me to lose so much money.
Neutral
2022-12-15
Nico Nava
Argentina
I tried to withdraw my funds twice and they wouldn't let me do it without reason. They even charged me for the conversion from dollars to euros but they did not withdraw anything. The support service is terrible and does not solve anything. It is not terrible service, it is a scam right away.
Exposure
2021-12-17
w_hq
Australia
I have used this broker for a while just like 30 minutes ago, their site went blank for some reasons. My trade got closed and my account balance became zero!
Positive
2022-12-19