Tradovate quadrupled margins on IRA accounts without notice

Artech

Artech

Today I get this message from Tradovate

"It looks like you have an IRA account.
With IRA accounts margins are always 4X the day margin.
Thank you for using Tradovate!
Tradovate, LLC"

This is totally not true. I opened IRA accounts with Tradovate because of their low margins. Has anyone else been surprised like this by Tradovate?
What other IRA-friendly brokers are out there that I can move my IRA accounts to?
 
We have NOT increased margins for IRA accounts specifically.
Our margins are the same today as they were yesterday.
Happy to provide specifics if interested.
 
Is this a futures account or an equity account? If futures, who is the custodian of the IRA?

Artech said:
Today I get this message from Tradovate

"It looks like you have an IRA account.
With IRA accounts margins are always 4X the day margin.
Thank you for using Tradovate!
Tradovate, LLC"

This is totally not true. I opened IRA accounts with Tradovate because of their low margins. Has anyone else been surprised like this by Tradovate?
What other IRA-friendly brokers are out there that I can move my IRA accounts to?
More...
 
Artech said:
I am not sure if you are affiliated with Tradovate, but Mr. Ryan Engelman at Tradovate wrote the following to me today.

"This was a change made recently and an email was sent out infoming clients of this change.
I would check you spam or trash folders if you have not received it in your main inbox.
Tradovate, LLC"

So a change was in fact made. When I opened my IRA with Tradovate on March 25th, 2023 the margins were the same as my corporate account. Today they are not. Even yesterday the margins were the same - I have transactions to prove this fact.
More...


Cannon is referring to their margins, not tradovate's (margins).
 
Tradovate is going sour on many fronts lately. Unreliable with the system being down recently, then they choose to increase commissions, and now they increase margins by 300%. I am done with this broker!
 
NorgateData said:
Margins change over time.

Have a look here to see what it was at some prior point versus now:
https://web.archive.org/web/20230201121828/https://www.tradovate.com/resources/markets/margin/
More...
Ah... The WayBackMachine... I had forgotten about that site. I used to use it years ago.
Anyway, the other thing that is terrible about Tradovate is that they mention nothing about their IRA margin hikes on the page you have linked. So there is no telling when they hiked the margins.
 
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