Tradovate – Prop Firm Review
- Modern platform with subscription pricing
- Zero commission futures trading available
- Cutting-edge technology enriches trading journey
- Customizable charts with multiple timeframes
- Intuitive experience for all skill-levels
Company Overview
Tradovate is a modern, commission-free futures brokerage firm that has disrupted the traditional trading landscape with its innovative cloud-based platform. Founded in 2014, Tradovate offers traders a comprehensive suite of tools with transparent pricing structures that eliminate the usual per-trade commission fees. What sets Tradovate apart is its subscription-based model that provides unlimited commission-free trading for a flat monthly fee, making it particularly attractive for active traders who want to reduce transaction costs. The company combines cutting-edge technology with an intuitive user interface, designed to serve both novice and experienced traders in the futures markets. With a focus on accessibility and efficiency, Tradovate’s platform is fully cloud-based, allowing traders to access their accounts from anywhere with an internet connection, whether via desktop or mobile devices.
Key Features at a Glance
Challenge Fees
- Free Membership – $0 monthly with standard commission rates
- Active Membership – $99 per month for commission-free trading
- Professional Membership – $199 per month with advanced features and commission-free trading
Account Types
- Individual Accounts: Standard accounts for personal trading
- Entity Accounts: For businesses, trusts, and corporate entities
- Demo Accounts: Free practice environment with simulated trading conditions
Profit Split Options
- Direct Trading: As a brokerage, Tradovate allows traders to keep 100% of their profits
- No Profit Sharing: Unlike prop firms, there’s no split since traders use their own capital
- Subscription Model: Fixed monthly fee regardless of trading volume or profitability
Account Sizes
- Micro Accounts: Minimum deposit of $500, ideal for beginners
- Standard Accounts: Deposits of $3,000+ for more experienced traders
- Professional Accounts: $10,000+ deposits with enhanced margin benefits
Trading Platforms
- Tradovate Web: Cloud-based platform accessible from any browser without downloads
- Tradovate Desktop: Dedicated application for Windows and Mac with enhanced performance
- Tradovate Mobile: iOS and Android apps for trading on the go with full platform functionality
Financial Markets
- Futures Markets: Full access to CME Group products including equity indices, energy, metals, and more
- Micro E-mini Futures: Smaller contract sizes for S&P 500, Nasdaq-100, Russell 2000, and Dow Jones
- Agricultural Futures: Access to grains, livestock, and other agricultural commodities
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | N/A – Not a prop firm | N/A – Not a prop firm |
| Daily Drawdown | Based on account margin requirements | Based on account margin requirements |
| Maximum Drawdown | Determined by account equity | Determined by account equity |
| Minimum Trading Days | No minimum requirement | No minimum requirement |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | N/A – Not a prop firm | N/A – Not a prop firm |
| Daily Drawdown | Based on account margin requirements | Based on account margin requirements |
| Maximum Drawdown | Determined by account equity | Determined by account equity |
| Minimum Trading Days | No minimum requirement | No minimum requirement |
Challenge Specifications
- Max Allocation: Tradovate is a brokerage firm, not a prop firm, so traders use their own capital without allocation limits beyond margin requirements.
- Scaling: Not applicable as Tradovate is a futures brokerage. Account size depends on trader’s own deposits.
- Trading Competitions: Periodic trading competitions with cash prizes for top performers.
- Free Trial: 14-day free trial available for new users to test platform functionality.
- Profit Targets: No specific profit targets as traders keep 100% of their trading profits.
- Drawdown Structure:
- Daily: Regulated by exchange margin requirements
- Maximum: Based on account equity; no artificial limits
- Trailing: No trailing drawdown restrictions
Trading Rules and Requirements
- Margin requirements must be maintained at all times
- Pattern day trading rules do not apply to futures accounts
- Exchange trading hours and holiday schedules must be observed
- API trading allowed with proper authentication
- Automated trading systems permitted on all account types
Company Information
- Founded in 2014 by industry veterans with extensive futures trading experience
- Regulated by the National Futures Association (NFA) and CFTC
- NFA ID: 0532675
- Headquarters located in Chicago, Illinois, USA
- Customer support available 24/5 during trading week
Payout Methods
- Bank Wire Transfer (1-3 business days)
- ACH Transfer for US clients (2-3 business days)
- Credit/Debit Card withdrawals to original funding source (2-5 business days)
Trading Commissions
- Free Membership: Standard commission rates ($0.79 per side for CME products)
- Active Membership ($99/month): Commission-free trading for all futures contracts
- Professional Membership ($199/month): Commission-free trading plus advanced platform features
- Exchange and regulatory fees still apply to all membership levels
IP Rules
- Multiple users sharing a single account is prohibited
- VPN usage allowed for secure connection but account verification required
- Data feed usage restricted to authorized account holder
- Platform access from multiple devices permitted for the same user
Video Review
Tradovate Review
Comprehensive review of Tradovate trading services
Unique Features
Commission-Free Trading
- Subscription-based model eliminates per-contract fees
- Potential for significant savings for active traders
- Transparent pricing with no hidden fees
Technology Platform
- Cloud-based architecture for reliable access from anywhere
- Modern, intuitive interface designed for efficiency
- Advanced charting with over 100 technical indicators
- One-click trading and bracket orders
Why Choose Tradovate?
Tradovate stands out in the crowded futures brokerage space by offering an innovative approach that combines cutting-edge technology with a cost-effective pricing model. Their subscription-based commission-free trading structure can significantly reduce transaction costs for active traders.
Key advantages include:
- Commission-free trading with flat monthly subscription
- Cloud-based platform accessible from anywhere
- Modern, intuitive user interface designed for efficiency
- Advanced order types and risk management tools
- No pattern day trading restrictions on futures
- Free demo account to practice without risking capital
Frequently Asked Questions
How long does it take to get funded?
Tradovate is a futures brokerage, not a prop firm, so there is no funding process. You can begin trading immediately after depositing funds into your account, which typically takes 1-2 business days for bank transfers or instantly for credit/debit card deposits.
Can I hold positions over the weekend?
Yes, you can hold futures positions over the weekend, but be aware of the increased risk due to weekend gaps when markets reopen. Some futures contracts have different trading hours, so it’s important to know the specific schedule for the markets you trade.
What happens if I break a rule?
As a regulated futures brokerage, Tradovate follows industry standards and regulations. If account margin requirements are not maintained, positions may be liquidated automatically. Violating terms of service could result in account restrictions or closure, depending on the severity.
Can I trade news events?
Yes, there are no restrictions on trading during news events. However, be aware that market volatility often increases significantly during major economic announcements, which can lead to slippage and wider spreads.
How often can I withdraw profits?
You can request withdrawals at any time, with no restrictions on frequency. Withdrawals are processed within 1-2 business days, with funds typically arriving in your bank account within 2-5 business days depending on the withdrawal method.
