Tradovate Review

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Contributor, Benzinga
June 3, 2021
Tradovate
Best For
  • High-volume Traders
securely through Tradovate's website
1 Minute Review

Tradovate is an innovative futures broker offering a tiered pricing structure and a comprehensive proprietary trading platform you can access with additional fees. Tradovate offers a community tab that allows you to connect with other traders and exchange trading ideas. New users can test out Tradovate’s platform with a demo account and free trial, which allows new investors to master the learning curve before opening an account. Though the platform might be too complicated for traders who prefer a simplified experience, it can be a strong choice for more experienced users.

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Best For
  • Experienced and intermediate futures investors
  • High-volume traders
  • Mobile traders
Pros
  • Free trading platform packed with unique features
  • Community tab allows users to connect with other traders
  • Tiered pricing structure
  • Easy to use out of the box for experienced futures traders
Cons
  • Currently only supports futures trading
  • Platform can be overwhelming for new traders

Tradovate Ratings at a Glance

Services
Pricing
Customer Service
Mobile App
User Experience
User Benefits
Overall Rating

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 Services

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 Pricing

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 nameMonthly feeCommission schedule
Membership Free Access$0$0.79 per side standard, $0.25 micros, $0.20 smalls
Active Trader Plan$99$0.19 per side standard and micros, $0.15 smalls
Commission-Free Membership$199 when paid annually, $349 month-to-month$0 on all trades

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 Customer Service

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 support@tradovate.com if your inquiry is related to your specific account OR to info@tradovate.com 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. 

Tradovate Mobile App

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. 
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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. 

Tradovate User Experience

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.

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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. 

Tradovate User Benefits

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 Overall Rating

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.  

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. 

Frequently Asked Questions

Q
Is Tradovate free?
A

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.

Q
Is Tradovate a broker?
A

Tradovate is a futures broker and futures trading platform provider. 

User Reviews

Christian Grace

How do you use this product to boost your finances?

Tradovate is a terrible broker, I am currently filing a complaint against them for stealing money. If you have also had this issue please contact me as soon as you can to build this case

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