top of page

Prop Trading Platforms: Tradovate

Updated: Aug 1, 2023


Tradovate Logo


Tradovate is a unique broker platform that sets itself apart from others in the industry by providing seamless integration with various trading services. In this review, we will explore the standout features and benefits of using Tradovate as a broker platform, emphasizing its convenience and ease of use.


About

When it comes to day trading futures, choosing the right broker is crucial, and Tradovate excels in various aspects. The platform offers access to a wide range of features, including standard charting tools, drawing tools, competitive fill rates, and pricing per contract. The broker's performance significantly impacts a trader's ability to trade consistently and effectively.


What's Unique about Tradovate


Low, Set Cost for Trading Mini and Micro Index Futures:

Tradovate offers affordable trading costs for mini and micro index futures, making it accessible to traders with different account sizes.


Integration with External Trading Services:

Tradovate seamlessly integrates with external cloud-based services such as TradingView, JigSaw, Collective2, Investor/RT, MotionWave, CQG, and Sierra Chart. This integration allows traders to leverage the capabilities of these services within the Tradovate platform.


Access to Full Tradovate Platform via Web Browser:

Tradovate provides a web-based platform that offers full access to its features and modules, including an analysis module with real-time news and research. Traders can conveniently trade and analyze markets from any web browser.


Advanced Trade Orders and Customizable Order Entry:

The platform offers advanced trade order types and customizable order entry, allowing traders to implement complex trading strategies and manage their positions effectively.


Paper Trading and Market Replay:

Tradovate provides paper trading with real-time live market data, allowing traders to practice and test their strategies without risking real capital. Additionally, the market replay feature enables simulation trading and strategy testing based on historical data.


Options Trading on Futures:

Tradovate supports options trading on futures, offering a clean and uncluttered options chain and customizable alerts for efficient options trading.


Comprehensive Charting Tools:

The platform offers a wide range of charting tools, including Heiken Ashi, Renko, and Point and Figure chart types, empowering traders with in-depth analysis capabilities.


Trade Statistics and Performance Reports:

Tradovate provides trade statistics and performance reports, enabling traders to analyze their trading activity and improve their strategies.



Pros and Cons of Tradovate


Pros:

  • Affordable minimum account balance requirement, accommodating traders with limited funds.

  • Access to micro and mini index futures at discounted prices, providing opportunities for diversified trading.

  • Easy account setup process with responsive customer service.

  • Seamless integration with external trading services, enhancing the platform's capabilities.

  • Mobile trading capability with full platform access, allowing traders to monitor and execute trades on the go.

  • Advanced trade orders for implementing complex trading strategies.

  • Real-time paper trading with accurate account setup, enabling risk-free practice.

  • Market replay feature for simulation trading and strategy testing based on historical data.

  • Options trading availability with a clean options chain and customizable alerts.

  • Comprehensive charting tools and integration with trade history for detailed analysis.

  • Trade statistics and performance reports for easy evaluation of trading activity.

Cons:

  • The company is privately held, so there is no publicly traded stock price or symbol available.

  • Active Trader pricing and Commission-Free Membership require additional fees.


Getting Started

To get started with Tradovate, visit their website and open an account. The platform has a minimum account balance requirement of $250.00, making it accessible to traders with different financial resources. Once your account is set up, you can explore the platform's features, customize your trading experience, and start trading according to your preferences.


Final Thoughts

In conclusion, Tradovate is a modern broker platform that offers a range of unique features and benefits. From its affordable trading costs and seamless integration with external services to advanced trade orders and comprehensive charting tools, Tradovate provides retail traders with a competitive edge. With its user-friendly interface and responsive customer service, Tradovate is a recommended choice for traders looking to enhance their trading experience. Open an account and start exploring this impressive trading platform today.


93 views0 comments

Comments


bottom of page