Tradovate Forex Broker & Trading Markets | Legit or a Scam

Account Types

Tradovate offers four different account types for its users. These accounts are designed to meet the needs of trades with different trading goals. The platform does not provide any details about the account types and the features they include.

• Nano
• Smalls
• Micro
• Standard Futures

There is no minimum deposit for the accounts, and there is no information available for the account types.

Also, the platform does not offer demo accounts which makes it difficult for beginners to trade directly with their real funds.

Security and Regulations

Tradovate is registered under NFA and CFTC. These bodies overview the platform for the security of client funds and information.

However, the platform is not regulated by any top-tier financial authority. This makes it difficult to trust. The unregulatory status makes the platform unreliable and difficult to trust. Regulations ensure that the client’s fund and personal information are never risked or compromised due to the platform.

Also, there is no two-factor authorization or encryption to keep your funds safe.

Therefore, traders must stay aware and think twice before investing their hard-earned money at Tradovate. If you want to trade with regulated brokers, you can choose among SmartSTP, TradeEU or Capplace.

Fees and Commissions

There is no specified information about the fee structure or commission involved in the trading process at Tradovate. The platform does have commission plans for traders. These include free, monthly, and lifetime subscriptions.

The trader can choose the plan according to their budget and their needs. The monthly subscriptions cost $99 per month and yearly costs $1,499 in one installment.

Customer Support

Tradovate provides traders with comprehensive customer support through multiple channels. These include contact forms, calls (1 (844) 283-3100,

(312) 283-3100), and emails (info@tradovate.com).

The platform also offers a dedicated FAQ section for answering your general issues and concerns related to trading, accounts, and technical processes.

Conclusion

Tradovate is a modern trading platform established as a future trading industry. The platform is a nonregulated trading broker that increases the risks and concerns. Tradovate is a registered platform at NFA, but that does not make it a secure trading platform.

There are no financial bodies that overview the workings of the platform ensuring a safe trading environment.

The interface of Tradovate is complicated which makes it difficult to work and understand. The platform lacks information about the types of markets, accounts, and more.

Lastly, we can say that the platform does not come forward as a trustworthy broker, which makes it risky to invest.