Tradovate is a good futures broker for day traders who want $50 MES day margins, no account minimum and one login for every device. ES costs $5.74 all-in per round turn on the Free plan and $4.34 on Lifetime.
It suits active index futures traders who close positions before the session ends. Occasional traders pay more: the Free plan has the highest commission and charges $35 after 30 days without a live trade. We checked every Tradovate figure below on Tradovate's own website on 6 Nov 2026. Fees and margins can change at any time.
Keep Tradovate running near CME while you're away.
Tradovate review at a glance
ES is the E-mini S&P 500 and MES is the Micro E-mini S&P 500. A round turn is one contract in and out. All-in cost is the commission plus exchange, clearing and NFA fees (checked on 12 Nov 2026).
| Item | Tradovate |
|---|---|
| Broker | NinjaTrader Clearing, LLC, a CFTC-registered FCM and NFA member |
| Plans | Free ($0), Monthly ($99 a month), Lifetime ($1,499 once or 4 payments of $499) |
| Commission per side, standard / micro | $1.29 / $0.39 Free; $0.99 / $0.29 Monthly; $0.59 / $0.09 Lifetime |
| All-in per round turn, ES / MES | $5.74 / $1.88 Free; $5.14 / $1.68 Monthly; $4.34 / $1.28 Lifetime |
| Day margin | $500 ES, $1,000 NQ, $50 MES, $100 MNQ |
| Account minimum | Any funding amount |
| Platforms | Tradovate and NinjaTrader platforms on desktop, web and mobile, with one login |
| Market data | Level I CME Group and EUREX data included with a funded account |
| TradingView | Included with a funded account on the current plans |
| Inactivity fee | $35 on the Free plan after 30 days without a live trade |
| Best for | Day traders of index futures who close before the session ends |
What is Tradovate?
Tradovate is a futures broker with its own cloud-based trading platform. It is part of NinjaTrader Group, LLC. Brokerage services come from NinjaTrader Clearing, LLC, which also does business as Tradovate.
NinjaTrader Clearing is registered with the CFTC as a futures commission merchant (FCM). It is also a member of the National Futures Association (NFA ID 0309379).
Tradovate is a futures-only broker. You can trade contracts on CME Group exchanges, EUREX, ICE Futures US and Coinbase Derivatives, among others, but not stocks or forex. It offers individual, joint, retirement and business accounts, with phone and live chat support from a team in Illinois.
Tradovate fees and pricing plans
Every new account starts on the Free plan. You can upgrade to Monthly or Lifetime once you have a live Tradovate account. All three plans include every Tradovate platform with no license fee. Exchange, clearing and NFA fees apply on top of the commission.
| Plan | Plan price | Standard | Micro and E-nano index | Nano and event contracts |
|---|---|---|---|---|
| Free | $0 | $1.29 | $0.39 | $0.20 |
| Monthly | $99 a month | $0.99 | $0.29 | $0.15 |
| Lifetime | $1,499 once, or 4 payments of $499 | $0.59 | $0.09 | $0.05 |
Commissions are per contract, per side (checked on 12 Nov 2026). Four Lifetime payments total $1,996, which is $497 more than one payment.
All-in cost per round turn
Tradovate publishes an itemized all-in commission table. For ES and NQ, each side adds $1.39 in exchange and NFA fees and $0.19 for clearing. For MES and MNQ, each side adds $0.36 and $0.19. The table is dated 14 August 2026, and Tradovate updates it quarterly.
| Plan | ES or NQ, per round turn | MES or MNQ, per round turn |
|---|---|---|
| Free | $5.74 | $1.88 |
| Monthly | $5.14 | $1.68 |
| Lifetime | $4.34 | $1.28 |
These figures do not include monthly market data or add-ons.
Which Tradovate plan pays off?
Against Free, Monthly saves $0.60 per ES round turn and $0.20 per MES round turn. Its $99 fee pays for itself at 165 ES or 495 MES round turns a month. Lifetime saves $1.40 per ES and $0.60 per MES round turn, so the $1,499 fee pays back after about 1,071 ES or 2,499 MES round turns.
To see how these costs compare, read our list of the lowest-commission futures brokers.
Other Tradovate fees
- Inactivity: $35 on the Free plan if you place no live trade in 30 days. Monthly and Lifetime plans do not pay it.
- Market data: Level I CME Group and EUREX data is included with a funded account. Level II costs $16 a month per CME exchange for non-professional users.
- Withdrawals: ACH is free; a domestic wire costs $30.
- Margin calls and liquidations: A margin call costs $50. A margin or delivery liquidation costs $25 the first time and $50 after that.
- API access: $25 a month, with a live account balance of at least $1,000.
Tradovate margins
Day margins apply from the product's open until 15 minutes before the session close. After that, you need the exchange's initial margin to hold a position.
| Contract | Day margin | Initial (overnight) margin |
|---|---|---|
| ES (E-mini S&P 500) | $500 | $29,337.80 |
| NQ (E-mini Nasdaq-100) | $1,000 | $46,230.05 |
| MES (Micro E-mini S&P 500) | $50 | $2,933.78 |
| MNQ (Micro E-mini Nasdaq-100) | $100 | $4,623.01 |
Figures come from Tradovate's margin page (checked on 12 Nov 2026). The exchange sets initial margin, and it changes often. RTY and YM also have $500 day margins, and M2K and MYM have $50.
Three rules can raise the margin you need:
- News: Day margins rise to four times the standard rate 15 minutes before key economic releases. They stay higher for about five minutes after the release, for new positions.
- Size: The standard day margin covers up to 25 mini or 50 micro contracts. Each contract above that needs 50% of the initial margin.
- Volatility: Tradovate's risk team can change day margins without notice.
Your balance must also cover commissions and fees, or Tradovate may reject the order. Compare these rates with other futures brokers with low intraday margin.
Account minimum and free demo
Tradovate has no account minimum. Its pricing page lists "any funding amount", so you can open an account with a small deposit. You still need the day margin plus fees for each trade. For example, one MES contract needs $50 in day margin.
ACH and debit card deposits are free. A 14-day free demo with live streaming data lets you test the platform before you fund an account.
Tradovate platforms: desktop, web and mobile
Tradovate is a cloud-based platform. You can download it for Windows or Mac, use it in Chrome or another web browser, or use the apps for iPhone, iPad and Android. Your workspaces and charts sync across devices, and every plan includes all versions at no extra cost.
The main features include:
- A depth of market (DOM) with one-click order entry and configurable hotkeys
- Bracket orders held on the server, with up to 10 target and stop levels
- Market Replay, which plays back past market data tick by tick
- Group Trade, which places orders across several accounts
- Custom indicators written in JavaScript
Tradovate holds orders in the cloud, so working orders stay in place if your internet connection drops.
Market data
A funded account on any current plan gets Level I CME Group and EUREX data at no charge. Level II adds the full order book and costs extra. Data subscriptions renew on the 1st of each month and are not prorated.
TradingView connection
TradingView access is included with a funded Tradovate account on a current plan. To trade live from TradingView, you need three things: a plan that includes TradingView, an active Tradovate market data subscription and a funded account. Your Tradovate data feeds the TradingView charts, so you do not need a separate TradingView data subscription.
There are limits. You cannot add an OCO pair to an open position from TradingView, and brackets attach only to entry orders from the Order Panel. Without a funded account, a $9.99 monthly add-on connects your demo account.
Automation and API
For automation, Tradovate offers an API add-on with REST and WebSocket access. It costs $25 a month, needs a funded account with at least $1,000 and does not include real-time market data.
Do you need a VPS for Tradovate?
Not for manual trading in the web app, because your orders stay on Tradovate's servers. A VPS helps when software must run all day, such as NinjaTrader Desktop strategies on your Tradovate login, API scripts or charts you leave open. A Tradovate VPS keeps that software online when your own PC sleeps or restarts.
Tradovate and NinjaTrader
Tradovate and NinjaTrader belong to the same group, NinjaTrader Group, LLC. One brokerage entity serves both brands. Your Tradovate login also opens NinjaTrader Desktop, Web and Mobile, with no new account and no new approval.
Both brokers publish the same three plans, commissions and day margins. The difference is the software. Tradovate's own platform is cloud-based and works the same way on every device. NinjaTrader Desktop adds deeper customization, thousands of community-built indicators and tools, and strategy automation with NinjaScript.
So you rarely need to choose between them as brokers. You choose the platform that fits how you trade. Our NinjaTrader vs Tradovate comparison covers that choice in detail.
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Using Tradovate with a prop firm
Tradovate does not sell prop or evaluation accounts itself. Prop firms in its partner program give you Tradovate credentials instead. You log in to Tradovate Web, Tradovate Mobile or NinjaTrader Desktop with that username, and you choose Simulation mode, not Live.
Your prop firm, not Tradovate, controls your market data, TradingView access and risk settings. Most firms include Level I CME data. Rithmic-based prop accounts cannot use Tradovate Web, and prop accounts cannot use the API. For a firm-by-firm list, see the prop firms that use Tradovate.
Tradovate pros and cons
Pros
- Low day margins: $500 ES and $50 MES.
- No account minimum.
- All Tradovate and NinjaTrader platforms included, with no license fees.
- Free Level I CME and EUREX data, TradingView access, Market Replay and Order Flow+ with a funded account.
- Low micro costs on Lifetime: $1.28 all-in per MES round turn.
- An itemized all-in fee table that shows every charge per contract.
- Many prop firms issue Tradovate logins.
Cons
- The Free plan is expensive for ES: $5.74 all-in per round turn.
- A $35 inactivity fee on the Free plan after 30 days without a live trade.
- Futures only, with no stocks or forex.
- Level II market data costs extra.
- Day margins end 15 minutes before the close and rise fourfold before key news.
- API access costs $25 a month and needs $1,000 in the account.
- Some order types are limited when you trade from TradingView.
Who Tradovate suits
Tradovate is a good fit if you:
- Day trade index futures and close before the session ends.
- Start with a small account and trade micros.
- Trade from a laptop, a browser and a phone on the same day.
- Chart on TradingView and want a futures broker with access included.
- Trade often enough to make the Monthly or Lifetime plan pay off.
Look elsewhere if you:
- Hold positions overnight, where one ES contract needs the full initial margin.
- Trade only a few times a month on the Free plan.
- Want Rithmic routing or a platform outside Tradovate's integrations.
- Need stocks or forex in the same account.
Tradovate alternatives
If cost or order routing matters more to you than the platform, compare these brokers. Figures come from each broker's own site in November 2026. Margins and fees can change at any time, and past the close the exchange margin applies.
| Broker | Day margin, ES / NQ / MES / MNQ | All-in per round turn, ES / MES | Note |
|---|---|---|---|
| Tradovate | $500 / $1,000 / $50 / $100 | $5.74 / $1.88 | Free plan; $4.34 / $1.28 on Lifetime |
| NinjaTrader | $500 / $1,000 / $50 / $100 | $5.74 / $1.88 | Free plan; $4.34 / $1.28 on Lifetime |
| Optimus Futures | $500 / $1,000 / $50 / $100 | $5.00 / $1.62 | IronBeam clearing, Rithmic or CQG routing |
| AMP Futures | $400 / $1,000 / $40 / $100 | By platform | Twice these margins on balances over $100,000 |
All-in cost is one contract in and out at the entry or free tier. It includes the broker commission, CME exchange and clearing fees, broker clearing and routing fees, and the NFA fee. It does not include monthly data or platform subscriptions.
- NinjaTrader: The same plans, commissions and day margins. Choose it for NinjaTrader Desktop and NinjaScript automation; your Tradovate login already works there.
- Optimus Futures: $5.00 all-in per ES round turn and $1.62 per MES, with no plan fee. Accounts clear through IronBeam with Rithmic or CQG routing.
- AMP Futures: $400 ES and $40 MES day margins, doubled on balances over $100,000. Its all-in cost depends on the platform you choose.
Optimus Futures offers Rithmic routing. Our Rithmic vs Tradovate guide explains how the two connections differ.
Verdict: is Tradovate good?
Yes, for the right trader. Tradovate pairs low day margins and no account minimum with platforms on every device and free Level I data. On Lifetime, its MES cost of $1.28 per round turn matches NinjaTrader and is lower than the other published figures in our table.
The Free plan is the weak point. At $5.74 per ES round turn, it costs more than Optimus Futures ($5.00). Free plan accounts also pay $35 after 30 days without a live trade. If you trade often, price the Monthly or Lifetime plan before you open an account.
Tradovate review FAQ
Is Tradovate a legit broker?
Yes. NinjaTrader Clearing, LLC provides Tradovate's brokerage services. It is a CFTC-registered futures commission merchant and an NFA member (NFA ID 0309379).
How much does Tradovate charge per trade?
The commission per side is $1.29 standard and $0.39 micro on the Free plan, $0.99 and $0.29 on Monthly, and $0.59 and $0.09 on Lifetime. With exchange, clearing and NFA fees, an ES round turn costs $5.74, $5.14 or $4.34. An MES round turn costs $1.88, $1.68 or $1.28.
Does Tradovate have a minimum deposit?
No. Tradovate accepts any funding amount. You still need the day margin and fees for each trade, such as $50 for one MES contract. API access needs at least $1,000 in the account.
What are Tradovate's day trading margins?
Day margins are $500 for ES, $1,000 for NQ, $50 for MES and $100 for MNQ (checked on 12 Nov 2026). They apply until 15 minutes before the session close. They rise to four times the standard rate around key economic news.
Is Tradovate the same as NinjaTrader?
They belong to the same group and share one brokerage entity, plans and day margins. A Tradovate login also works on NinjaTrader's platforms. The software differs: NinjaTrader Desktop adds NinjaScript automation and more add-ons.
