Not many future platforms have a web-based version, but Tradovate is one of them. That’s one of the main reasons why it’s so popular among traders who use futures prop firms.
If you are a prop trader who values mobility, travels frequently, and trades from different locations, Tradovate may be the right platform for you.
You only need a prop firm that supports it, but I got you covered with that.
Let’s start by looking at the list of prop firms that let you trade using Tradovate.
List Of All Prop Firms With Tradovate
This list includes the best futures prop firms out there, where you can use the Tradovate platform to take their challenges or trade their funded accounts.
| Prop Firm | Profit Split | Cost | Max Balance | Rating | Review | Visit |
|---|---|---|---|---|---|---|
|
up to 90% | from $150/month | $150,000 | 4.9 |
Read review | |
|
90% | from $80/month | $150,000 | 4.8 |
Read review | |
|
90% | from $137/month | $300,000 | 4.8 |
Read review | |
|
80% | from $80/month | $300,000 | 4.6 |
Read review | |
|
90% | from $99/month | $250,000 | 4.5 |
Read review |
How Should I Choose A Prop Firm With Tradovate?
Knowing which firms provide access to Tradovate is done. Now you need to select one.
The firms that fit your needs may not be exactly the same as for another trader. The best way to decide is to compare them.
Here’s my prop firm comparison tool. Just choose the firms that you want to compare and immediately check the results with a detailed comparison.
Compare Any Prop Firm
What Is Tradovate?
Tradovate is a cloud-based platform launched around 2015.
Although you can download it to your computer or mobile, you don’t need to. This is especially useful if you trade your prop firm account from different locations and move frequently.
The company also offers its own brokerage services, which are often associated with its platform. And this is where everything shines even more. Differently from traditional futures brokers, Tradovate gives you the option to pay monthly fees, instead of per-trade.
How cool is that if you trade with high-frequency?
How Is Tradovate Useful To Trade With Prop Firms
If there’s an expression that perfectly describes the use of this platform is: monitor everything.
It was designed in a way that makes it easy to comply with the rules of the challenges.
Are you asking why?
Simple, this platform, gives you access to essential tools that will help you manage your evaluation phases, including detailed profit/loss tracking and systems for risk management.
Besides that, you will also be able to track other crucial metrics, like trailing drawdowns and daily loss limits.
You don’t want to fail a challenge because you didn’t track everything properly, do you?
See, this is hard to do on other futures platforms, but with Tradovate, you can easily monitor how you’re complying with the prop firm rules.
Its built-in tools help you monitor:
- Maximum position sizes
- Trading hours restrictions
- Account balance thresholds
- Daily loss limits
- Daily drawdown limits
- Overall drawdown limits
Additionally, you can use Tradovate to practice before you start a challenge. Just use a paper trading account that will mirror live trading. Allow yourself to make all kinds of mistakes and learn how to use the platform before you commit to the prop firm challenge.
Advantages Of Using Tradovate With A Prop Firm
These are the biggest advantages you get when you use Tradovate:
Cloud-Based Technology
- Trade from any computer simply using a web browser
- You don’t need to install or update any software
- Easily switch between different devices
- If you have technical issues, you have a backup in the cloud
Advanced Trading Tools
- Access to a sophisticated DOM (Depth of Market)
- Multiple chart types and time frames
- Custom indicators
- Custom time frames
- Possibility to automate your strategy
- One-click trading
Low Costs
- You don’t pay for the platform on some prop firms
- You have demo accounts to practice
- Save the cost of additional data feeds
Modern Design and Experience
- The interface is clean and intuitive
- Fast learning curve
- Mobile apps are available to monitor your open positions
- Fast customer support
- Regular updates of the platform
Disadvantages Of Using Tradovate With A Prop Firm
Technical Limitations
- When using the web-based platform the latency may be higher
- The options for customization are limited
- Not as many advanced algorithmic trading features as other platforms
- Some third-party tools may be restricted
Resources Usage
- The web browser will use a lot of your CPU and RAM
- Multiple charts can slow down the browser’s performance
- The mobile app is more limited compared to the web version
- May need frequent browser cache cleaning
Platform Features
- You may have limited historical data
- The indicators included are not much
- The backtesting feature is kind of basic
- Doesn’t support multi-brokers
- Restricted API access
