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Tradovate

United States|5-10 years|
Global Business|Suspicious Overrun|High potential risk|

https://www.tradovate.com

Website

Rating Index

Influence

Influence

AA

Influence index NO.1

United States 9.22

Surpassed 71.35% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+1 (844) 283-3100
info@tradovate.com
https://www.tradovate.com
222 N La Salle St., Suite 1450 Chicago, IL 60601

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-09-20

Contact number

English

+1 (844) 283-3100

English

+1 (312) 283-3100

Other ways of contact

Broker Information

More

Company Name

Tradovate Holdings, LLC

Abbreviation

Tradovate

Platform registered country and region

United States

Company website
Twitter
Facebook
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0485810) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Tradovate · WikiFX Survey

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Tradovate · Company Summary

Registered in USA
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments indices, currencies, precious metals, energies, commodities, meats
Minimum Initial Deposit $0
Maximum Leverage Information not available
Minimum spread Information not available
Trading platform own platform
Deposit and withdrawal method Information not available / Bank wire transfer
Customer Service Email/phone number/address/live chat
Fraud Complaints Exposure Yes

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.

General information

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!

regulation

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.

market instruments

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.

account types

Trading platforms

The company's trading platform is an in-house developed platform that can be used on computers, cell phones and tablets.

trading platform

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 and withdrawal
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.

educational resources

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

customer support

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.

users' exposure

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.

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User Reviews

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FX1226459765
more than one year
Keep calling like 4-5 times a day, even thou I asked them to stop! Need to block the numbers, because they don't understand NO! I get emails even thou, I unsubscribed like 4 times now! Stay away from this! SPAM all the way.
2023-02-15 13:57
Reply
0
0
w_hq
more than one year
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!
2022-12-19 09:48
Reply
0
0
.AA
more than one year
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.
2022-12-15 11:31
Reply
0
0
FX1155058269
more than one year
I saw this dealer at ***********, I didn't expect them to be a scammer and they scammed me out of $3,000. They will first promise you a high profit, and then ignore you after you deposit, and will not let you withdraw. This is my sad experience, must not fall into their trap.
2022-12-13 10:14
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