Tradovate quadrupled margins on IRA accounts without notice

Perhaps they just fixed their systems to correction apply the margin rates for IRA accounts.

Others have higher margins for IRA accounts, such as IB:

https://www.interactivebrokers.com.au/ru/index.php?f=233&p=overview
"Futures trading in an IRA margin account is subject to substantially higher margin requirements than in a non-IRA margin account."
"Margin rates in an IRA margin account may meet or exceed three times the overnight futures margin requirement imposed in a non-IRA margin account"

Do a Google search on this:
limited margin IRA
 
NorgateData said:
Perhaps they just fixed their systems to correction apply the margin rates for IRA accounts.

Others have higher margins for IRA accounts, such as IB:

https://www.interactivebrokers.com.au/ru/index.php?f=233&p=overview
"Futures trading in an IRA margin account is subject to substantially higher margin requirements than in a non-IRA margin account."
"Margin rates in an IRA margin account may meet or exceed three times the overnight futures margin requirement imposed in a non-IRA margin account"

Do a Google search on this:
limited margin IRA
More...
I had opened a separate account with Tradovate by taking money from my IBKR account to avail of lower margins. Though IBKR has IRA margins of 3X, Tradovate's new policy states that they can raise margins as much as 8X for IRA accounts. There is no reason now to sacrifice the efficiency and professionalism of IBKR for a discount broker when there is no advantage left.
Or rather not with Ninja or Tradovate at least. They want to have high margins but can not hold a candle to IBKR.
 
Since the last major issue, and it was a major issue, it has been running good for me. Not a defender of any firm, but seems to have been fixed at least here.
 
NorgateData said:
Perhaps they just fixed their systems to correction apply the margin rates for IRA accounts.

Others have higher margins for IRA accounts, such as IB:

https://www.interactivebrokers.com.au/ru/index.php?f=233&p=overview
"Futures trading in an IRA margin account is subject to substantially higher margin requirements than in a non-IRA margin account."
"Margin rates in an IRA margin account may meet or exceed three times the overnight futures margin requirement imposed in a non-IRA margin account"

Do a Google search on this:
limited margin IRA
More...
%%
Higher[more conservative ]margins could be a good thing.
This may not apply to Australia, but i haven't had time to research that one completely today:D:D
 
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...

Margins for IRA accounts were updated on May 1st, 2023 and previously existing IRA account holders were notified by email in advance. Margin rates for IRA accounts are typically higher than traditional futures accounts due to the increased risk associated with these account types. If we can address any further questions, please contact us at support@tradovate.com.
 
Tradovate said:
Margins for IRA accounts were updated on May 1st, 2023 and previously existing IRA account holders were notified by email in advance. Margin rates for IRA accounts are typically higher than traditional futures accounts due to the increased risk associated with these account types. If we can address any further questions, please contact us at support@tradovate.com.
More...
It is misleading when nowhere on your website are the IRA margins mentioned - this leads people to believe they are no different. Also, Ironbeam, AMP, and other futures brokers are offering the same IRA margins for day traders as any other account holders. They have auto-liquidation capabilities and manage the risk that way.
 
Tradovate said:
Margins for IRA accounts were updated on May 1st, 2023 and previously existing IRA account holders were notified by email in advance. Margin rates for IRA accounts are typically higher than traditional futures accounts due to the increased risk associated with these account types. If we can address any further questions, please contact us at support@tradovate.com.
More...

So what are your exit fees, if someone wants to close out and IRA and move it elsewhere...
 
Artech said:
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!
More...
I do not agree with this post.
 
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