Tradovate's new worse pricing model

CALLumbus · Dec 14, 2017

Hi all,

in the past I praised alot Tradovate and their innovative pricing model.

A few days ago they changed it, and I dont like the new one very much. It seems like they slowly start to get away from their commission free trading and move into the direction of regular commission based trading like 99% of the other brokers around.

Was the commission free trading just a marketing gag for the start of their business ? I dont like these kind of gags...

If they keep going this road I guess it might be better for me and many others to stick to a tried and tested retail broker like AMP, DDT, Ninja or Transact.

Greetings,
CALLumbus

KeLo · Dec 14, 2017

What were the changes?

It is that time of year again... broker review time.

CALLumbus · Dec 14, 2017

In the beginning, they had 3 different membership plans, all without commissions per trade. Now they have again 3 membership plans, 2 of those with commissions, one still without commissions but more expensive than it was 1 year ago.

KeLo · Dec 14, 2017

Thanks CALLumbus.
Since their business model is relatively untried, I would expect some fine tuning along the way.

They are still at rock bottom pricing however, right?

I like the idea of different platforms to use. If I dislike one, I can just change platforms and keep the same account. It looks like NinjaTrader is following in TradeStation's footprints.

P.S. I do not have an account with them at this time, though I may give them a look - thanks to your previous posts.

CALLumbus · Dec 14, 2017

They are still good for sure. For me it just seems more and more that the initial pricing and membership plans were more to attract new customers. Now that they have enough accounts, they slowly introduce commissions, higher membership prices... ? I agree that one should expect some fine tuning along the way, but not just of that kind that brings disadvantages for the client...

But ok, there is enough competition around so that any trader can decide to stay with them or find a good alternative. You like a nice mix of everything (many platforms, good rates, low margins ...) then AMP might be for you. You trade some good volume already, then Advantage Futures might be the best for you, excellent rates for higher volume traders. You want everything from one hand (platform, FCM, brokerage) then Transact Futures might be for you.

KeLo, if you like to try and use different platforms then AMP might be a match for you. I think from all the brokers I know they offer the largest variety of platforms you can choose from. And their rates are also ok, especially with CQG feed.

KeLo · Dec 14, 2017

Thanks for taking the time to respond CALLumbus.
Very gracious of you.

CALLumbus · Dec 15, 2017

KeLo said:
Thanks for taking the time to respond CALLumbus.
Very gracious of you.

Thank you for your kind words KeLo. Happy if I could help a bit.

Have a good day, good trading you all !

KeLo · Dec 17, 2017

I did find conflicting pricing info on Tradovate's website. One page says "no commission trading" for as little as $39/mo. Another page has the new pricing at $199/mo.

ElectricSavant · Jul 21, 2018

Can we have an update?

ES

CALLumbus said:
They are still good for sure. For me it just seems more and more that the initial pricing and membership plans were more to attract new customers. Now that they have enough accounts, they slowly introduce commissions, higher membership prices... ? I agree that one should expect some fine tuning along the way, but not just of that kind that brings disadvantages for the client...

But ok, there is enough competition around so that any trader can decide to stay with them or find a good alternative. You like a nice mix of everything (many platforms, good rates, low margins ...) then AMP might be for you. You trade some good volume already, then Advantage Futures might be the best for you, excellent rates for higher volume traders. You want everything from one hand (platform, FCM, brokerage) then Transact Futures might be for you.

KeLo, if you like to try and use different platforms then AMP might be a match for you. I think from all the brokers I know they offer the largest variety of platforms you can choose from. And their rates are also ok, especially with CQG feed.

CALLumbus · Jul 22, 2018

ElectricSavant said:
Can we have an update?

ES

I still think Tradovate offers a great package. I was a bit confused a while ago about their changes in their membership fee structure and recently with the change in their FCM policy (they now offer both Dorman and Phillip Capital as FCM). I talked with them about all this and I dont see it as a big deal anymore. Actually I am happy that now in addition one can choose now between Dorman and Phillip Capital as I think Phillip Capital makes a very good job as FCM.

AMP ist also very good from my experience, never had any problems with them, quite the opposite, ultrahelpful with all my extra wishes and stuff. Of course they are pretty small compared to most other FCMs, everybody has to decide for himself if this is relevant to him or not.
If you go with the AMP 2K membership you get very similar conditions (= total cost per RT) for most contracts as if you go with the Tradovate commission free membership. You will also have to pay a pretty similar price for these two memberships.

Advantage Futures is maybe even one step higher, they are more for high volume pro traders than for the average retail trader. If you bring them serious volume, they can offer you some of the lowest commissions in the bussiness (under 10 cents per contract). And they offer you some of the best service you can think of. They will arrange things for you that other FCMs might say that they are not possible. But this wont probably be relevant for the average retail trader.

Here you can compare the financial data for all the FCMs that are out there:
https://www.cftc.gov/sites/default/...orfcms/05 - FCM Webpage Update - May 2018.pdf