Tradovate Review: Is Tradovate a Scam?
Tradovate, an online futures and options broker, claims to offer low-day trade and initial margin rates with more than 40 advanced trading tools. The platform allows its users to trade over 100 products in various exchanges under the following asset classes: indices, interest rates, metals, energies, and grains. However, contract traders are witnessing negative reviews regarding the app, and this has raised red flags about its legitimacy.
Tradovate Information
- Tradovate Website – https://www.tradovate.com/
- Website Availability – Yes
- Address shown – 936 Home Road, Delaware, OH 43015
- Tradovate Owned By – Tradovate Technologies, LLC
- Warned By – Not Recommended By Review Website Like Report Scam
- Domain Age of Tradovate
- Name TRADOVATE.COM
- Registry Domain ID 1860475202_DOMAIN_COM-VRSN
- Registered On 2014-05-27T22:31:54Z
- Expires On 2025-05-27T22:31:54Z
- Updated On 2024-02-10T17:43:03Z
Is Tradovate Regulated?
Tradovate claims to be an NFA member, but there are indications that it might be a clone or somehow faking its regulatory status. Regulation that is not considered valid would not protect traders in case mistakes or injustice occur.
Tradovate Issues Today
Withdrawal and Customer Support Problems
Reports indicate that many traders experience challenges with Tradovate withdrawal services. Some complain that their funds do not return long after withdrawal, whereas some complaints are about the unavailability of the Tradovate support team. One such trader mentioned that he tried requesting a withdrawal from the site, and all he could get was a response asking him to visit a support page. It was all he had, but he could easily understand that it was not a genuine platform.
Furthermore, there are complaints that accounts were liquidated without further growth, as there were enough funds to take care of the possible losses. Some traders attempted to reach out to Tradovake support concerning these, but they received incomplete disproofs.
Tradovate Login and Trading Platform Issues
- Users have reported difficulties accessing the Tradovate site.
- Some traders couldn’t log in; others could not connect to the Tradovate app.
- The technical hitches were a real inconvenience, particularly for futures traders who were depending on quick executions.
- Complaints included slow trade executions, causing financial loss.
- This poor communication from the platform has angered many users.
Tradovate Demo Account and Minimum Deposit Concerns
By offering a demo account, Tradovate does not prove to be the best option as many traders will say that the experiences of a live trader and a demo trader are worlds apart. Some of the issues raised by most clients involve slow trade executions, hidden costs, and downtimes on the platform.
Tradovate minimum deposit requirement is $250 for users to join the trading platform. Such an amount is not too high for starting traders who prefer to use fewer amounts in their investments, but it may still prove a hindrance for some.
Is Tradovate Free?
Tradovate markets itself as a commission-free trading platform, but traders have discussed hidden fees and unexpected charges. Some users have reported surprise charges for certain data feeds and order types, which only added to the lack of transparency of the platform.
Conclusion: Should You Trust Tradovate?
- Consequently, many Tradovate reviews highlight the issues left unresolved.
- Major withdrawal problems are putting traders at risk, as it is one of the serious problems with most traders.
- Regulatory issues may be seen by some as being brought about by the supposed fake NFA regulation.
- The dependability of trading is impacted by platform issues.
- The absence of a regulatory body raises doubt about the reliability.
Because of the many complaints and questionable activity, we do not recommend trading with Tradovate. See Report Scam for a free consultation if you have been affected by the Tradovate scam.
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