Wikilix
Contract reading

What Tradovate legally published, but does not want you to read

Every clause below is published by Tradovate itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: NinjaTrader Clearing, LLC

deemed acceptancedisclosureforum waiverhidden feesole discretionwithdrawalsaccount restrictionsaudit rightsconflict of interestcounterparty

Tradovate's free plan charges $35 if you go 30 days without a live trade, and takes your balance if it is under $35. The platform licence caps every claim against the company at $100 and gives you one year to bring it. The brokerage contract itself is not published, so you read it only after you apply. Money deposited by card or ACH cannot leave for five to ten days, and winning trades do not unlock it.

Back to Tradovate

Contract risk

Money at risk
6.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
3
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
6
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
4

How the 16 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical3
Warning10
Notice3

section 48 of 54is where the deepest clause sits, 89% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$35Fee on an unused account. Jump to the clause this comes from.A $35 fee for not trading on the free planCritical$100Time to complain. Jump to the clause this comes from.Liability for the trading platform capped at $10010 daysWithdrawal limit. Jump to the clause this comes from.Your own deposit is locked for up to ten days1%Fee you were not shown. Jump to the clause this comes from.Fees that are not on the pricing page

What the documents say

16 clauses worth knowing about, worst first, each quoted from Tradovate's own files

01

Tradovate's free plan is sold with no monthly fee. It charges you $35 if you go 30 days without placing a live trade. If your balance is under $35, Tradovate takes whatever is left.

Why this matters

Leave $20 sitting in a quiet account and it goes to zero. Logging in does not count and a demo trade does not count: only a live trade resets the 30 days.

Exhibit 1CriticalHarder than usual$35

A $35 inactivity fee applies to Free Account Plan holders who do not place a live trade within a 30-day period. If your account balance is less than $35, the available balance will be applied toward the fee.
Clause Minimum Account Activity FeeRead the source
Our own capture of support.tradovate.com, taken on Oct 14, 2026A $35 fee for not trading on the free plan (clause Minimum Account Activity Fee)Visit this page on the broker's siteDownload the full size image file

What it costsA $30 balance in a free plan account with no live trade for 30 days is taken toward the $35 fee. The balance reaches $0 and there is nothing left to charge.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the full list of costs and charges before they trade, in one place with the price. Tradovate's pricing page lists commissions and says only exchange, clearing and NFA fees still apply. The $35 fee is in a help centre article.

Tradovate is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Last live tradeThe 30-day clock starts at your most recent live trade, or at first funding if you have never traded.Minimum Account Activity Fee
Day 30Tradovate charges $35 to a free plan account with no live trade in that period.Minimum Account Activity Fee
Balance under $35Tradovate applies whatever is left in the account toward the fee.Minimum Account Activity Fee
Balance at $0The fee stops: it does not apply to a zero balance or to an account that was never funded.Minimum Account Activity Fee
  • Worse together with Exhibit 4A new deposit is locked for up to ten days while the clock to the next $35 charge keeps running.
02

The licence you accept for Tradovate's platform caps the whole company group's liability to you at $100. Clause 10.1 then excludes trading losses and lost profits on top, whatever caused them.

Why this matters

A platform failure inside a leveraged futures position can cost thousands in minutes. Your claim stops at $100, and Tradovate's risk disclosure already puts the risk of delays and failures on you.

Exhibit 2CriticalHarder than usual$100

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, COMPANY'S AND COMPANY PARTIES' TOTAL CUMULATIVE LIABILITY TO YOU OR ANY THIRD PARTY FOR DAMAGES FOR ANY CAUSE WHATSOEVER RELATING TO OR ARISING OUT OF THIS EULA, THE SOFTWARE, THE DOCUMENTATION, OR ANY SERVICES, DATA, SYSTEMS, OR FUNCTIONALITY MADE AVAILABLE THROUGH OR IN CONNECTION WITH THE SOFTWARE OR DOCUMENTATION IS LIMITED TO ONE HUNDRED U.S. DOLLARS (USD $100), REGARDLESS OF THE FORM OF ACTION OR CLAIM, NATURE OF THE LIABILITY, THEORY OF RECOVERY, AND NATURE OR NUMBER OF CLAIMS GIVING RISE TO THE LIABILITY.
Clause 10.1 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference

Buried at section 48 of 54 in the Tradovate End User License Agreement, 89% of the way through.

What it costsOn the free plan you pay no plan fees. Six months of plan fees at $0 is $0, so the mobile licence caps liability to a free plan trader at nothing.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA may not exclude or restrict a duty or liability they owe a retail client under the rules they are regulated by. This licence caps every claim, in contract or in negligence, at $100.

Tradovate is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7The cap sets what you can recover and the arbitration clause sets where, alone, within one year.
  • Worse together with Exhibit 5The same $100 ceiling is handed to your spouse, children and heirs, who never signed for it.
03

Clause 13.6 extends the platform licence to your spouse, heirs, children and next of kin, and binds them for any claim they bring over your use of the platform. They never accepted it.

In plain words

Indemnities are money it says you owe it.

Why this matters

If your family claims after your death over a trading loss tied to the platform, they meet the same $100 ceiling, the same arbitration clause and the same one year limit. Nobody asked them to agree.

Exhibit 5CriticalRarely seen$100

You further agree and intend that this EULA is entered into for the express benefit of Your spouse, heirs, children, and next-of-kin and shall bind same to the extent of any claims arising from Your use of Company's Software which is brought by them or by any person for the use or benefit of Your spouse, heirs, children, and next-of-kin.
Clause 13.6 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference

Our readingA licence that binds people who never accepted it is a commercial drafting device, seldom pointed at a household. Here it reaches your spouse, your children and your estate, and hands them a liability ceiling they had no chance to refuse.

  • Only applies after Exhibit 7What your family is bound to is the arbitration clause and the one year limit in clauses 13.3 and 13.9.
04

Tradovate publishes risk disclosures and two software licences. The agreement that governs your money, the one with the futures commission merchant, is not on the site, and Tradovate's own licence says you must sign one.

Why this matters

You cannot read the contract before you apply. The terms that decide your fees, your withdrawals and your right to complain arrive after you have handed over your identity, your income and your trading history.

Exhibit 3WarningHarder than usual

You may use the Software and the Documentation to engage in live trading services provided that You have entered into a separate written agreement with a registered futures commission merchant for live trading brokerage services.
Clause 1.3(c) in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of tradovate.com, taken on Oct 14, 2026The brokerage contract is not published anywhere (clause 1.3(c))Visit this page on the broker's siteDownload the full size image file

Where it sits: section 17 of 54 in the Tradovate End User License Agreement, 31% of the way through.

  • Worse together with Exhibit 11The unpublished contract is with an entity whose name changed since the last version of these disclosures.
05

Money you put in by debit card or ACH cannot be withdrawn by wire for ten calendar days, or by ACH for five. The clock starts when the deposit clears, not when you send it.

Why this matters

Winning trades do not unlock it. Tradovate's own example: deposit $2,000, lose $300, win $200 back, and none of your $1,900 can leave until the hold ends.

Exhibit 4WarningHarder than usual10 days

Funds deposited by ACH transfer or debit card into a Tradovate account are held for five (5) calendar days from the day that they clear before they can be withdrawn by ACH transfer to your bank account.
Clause ACH Withdrawal HoldsRead the source
Our own capture of support.tradovate.com, taken on Oct 14, 2026Your own deposit is locked for up to ten days (clause ACH Withdrawal Holds)Visit this page on the broker's siteDownload the full size image file

What it costsDeposit $2,000 by debit card and trade the balance up to $2,150. Only the $150 above your deposit can be withdrawn, and only after it clears overnight.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Deposit clearsFunds usually clear for trading one to three business days after processing, and the hold starts there.Withdrawal Holds on Deposited Funds
Day 5A card or ACH deposit can be withdrawn by ACH transfer.ACH Withdrawal Holds
Day 10A card or ACH deposit can be withdrawn by wire transfer.Wire Transfer Withdrawal Holds
Balance below the held depositNothing can be withdrawn at all, however well the account has traded.How Deposit Holds Affect Withdrawing Trading Profits

The sales pages promise what the licence does not allow

Tradovate's pricing page offers business and joint accounts. Its platform licence is for non-commercial use by one named person and bars using the software to support any business. The sign-up page opens in nine languages while every document behind it is English only.

Sales page against licence2 clauses flagged

Tradovate's pricing page offers business accounts. The platform licence you accept is for non-commercial use only, and clause 2.3 says you may not use the software to support the operation of any business.

Why this matters

Open an account for your company and you are outside the licence from the first login. Breach lets the company suspend your access and end the licence 10 days after it sends notice.

Exhibit 9WarningHarder than usual10 days

Without limiting the foregoing in any manner whatsoever, You may not use the Software or Documentation to support, in whole or in part, the operation of any business, whether personal or public, or to provide any services to any person or entity.
Clause 2.3 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference
Our own capture of tradovate.com, taken on Oct 14, 2026The claim, on List of what every pricing plan includes, English pricing pageVisit this page on the broker's siteDownload the full size image file
Our own capture of tradovate.com, taken on Oct 14, 2026What the contract says, clause 2.3Visit this page on the broker's siteDownload the full size image file

Tradovate's sign-up page opens in nine languages, including Spanish, Russian and Chinese. Every legal document it publishes is in English, and the sign-up page links none of them.

Why this matters

You can open a futures account in your own language and never see a word of what you agreed to. The one legal link on that page is a privacy policy, and it opens with nothing on it.

Exhibit 10WarningHarder than usual

In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk.
Clause Risk Disclosure Statement For Futures And Options in Risk Disclosure Statement for Virtual Currency Futures
Read from the broker's site on Archived copyOpen the reference
Our own capture of trader.tradovate.com, taken on Oct 14, 2026The claim, on Spanish version of the account sign-up page, chosen from that page's own language menuThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of tradovate.com, taken on Oct 14, 2026What the contract says, clause Risk Disclosure Statement For Futures And OptionsVisit this page on the broker's siteDownload the full size image file

Where it sits: section 10 of 54 in the Risk Disclosure Statement for Virtual Currency Futures, near the start.

The fee list is in the help centre, not on the pricing page

Tradovate's pricing page names three extra costs: exchange, clearing and NFA fees. Its help centre adds 1% on any currency conversion and $30 for a domestic wire. It also charges $50 for a margin call and $25 to $50 for a liquidation. The same page warns you may notice a sudden, unexplained drop in your balance.

Cost disclosure1 clause flagged

Tradovate keeps its full fee list in a help centre article, not on its pricing page. It takes 1% of any currency it converts for you. A wire out costs $30, or 30 units of your own currency.

Why this matters

ACH transfers are free inside the United States. Everywhere else a wire is your only exit. A small leftover balance can be eaten by the fee for sending it, and the same table charges you for a margin call and for a liquidation.

Exhibit 6WarningHarder than usual1%

If you notice a sudden, unexplained drop in your account balance, it may be due to one of the fees listed below.
Clause Introduction

What it costsConvert $10,000 into another currency to withdraw it and the 1% fee takes $100. The wire to send it takes another 30 units.

  • Worse together with Exhibit 1Both the inactivity charge and these fees live in the help centre, and neither appears on the page that sells the plan.

Tradovate can change the licence by posting it

Tradovate's licence can be amended at the company's sole and absolute discretion, with notice given by posting the new version. Use the platform 30 days later and that counts as your agreement, including for disputes you have not filed yet. The company can also audit your compliance at any time, and an event contract can be halted so that you cannot exit.

Unilateral control3 clauses flagged

Tradovate's platform licence can be amended at the company's sole and absolute discretion, with notice given by posting the new version on its website. Keep using the platform after 30 days and clause 13.5 treats that as your agreement.

Why this matters

Your only way to refuse a change is to stop using the platform. A revised licence also reaches controversies you have not filed yet, so a change can land on a complaint you are already preparing.

Exhibit 8WarningHarder than usual30 days

THIS AGREEMENT MAY BE AMENDED FROM TIME-TO-TIME AT THE SOLE AND ABSOLUTE DISCRETION OF COMPANY. COMPANY SHALL PROVIDE NOTICE TO YOU OF AMENDMENTS BY POSTING THE UPDATED TERMS OF SERVICE ON COMPANY'S WEBSITE.
Clause Preamble in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference

Tradovate sells event contracts alongside futures. Clause 13.8 says trading in one may be suspended or halted at any time and for any reason, so you may be unable to close a position you are holding.

Why this matters

A position you cannot exit keeps its risk and keeps its margin tied up. The licence says no Tradovate company owes you anything for a loss caused that way.

Exhibit 13WarningHarder than usual

You acknowledge and agree that trading in any particular event contract may be suspended or halted at any time and for any reason, including but not limited to action taken by the listing exchange, clearinghouse, any Company Party, or at the direction of any applicable regulatory authority, governmental body, or other competent supervisory or legal authority, such that You may be unable to close, liquidate, or otherwise exit an open position.
Clause 13.8 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference

Tradovate's licensor can audit your compliance with the licence at any time and for any reason it decides is necessary. You agree in advance to produce information and documents.

Why this matters

In an intellectual property action you also agree to let the company into your device and your network. That is a term you accept by clicking through a platform licence.

Exhibit 14NoticeHarder than usual

You agree that the Company shall have the right to audit and verify your compliance with this EULA at any time and for any reason which the Company, in the exercise of its sole and absolute discretion, deems necessary and You agree to cooperate with the Company, including Your production of information and documents, in exercising its right to audit and verify your compliance with this EULA.
Clause 4 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference

Every claim against the platform stops at $100

Tradovate's platform licence caps total liability at $100 and excludes trading losses outright. You have one year from the event to bring a claim, in individual arbitration in Chicago, with no class action ever, including one already running when you accept. The licence binds your spouse, children and heirs to the same terms.

Limits on redress1 clause flagged

Clause 13.9 gives you one year from the event to bring any claim. Clause 13.2 waives your jury trial and bars you from any class action, including one already running when you accept.

Why this matters

Miss the year and the claim is gone. Every dispute goes to individual arbitration in Chicago, and you pay half the arbitrator's fee. If Tradovate has to enforce that clause, it can recover its legal costs from you.

Exhibit 7WarningHarder than usual

To the fullest extent permissible by law, You may not bring any claim, regardless of form, arising out of or relating to this EULA or Your use of the Software or Documentation or any services provided by any Company Parties more than one (1) year after the cause of action arose.
Clause 13.9 in Tradovate End User License Agreement
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client access to a free, independent ombudsman, with no deadline as short as this and no bar on group claims. Here the route is private arbitration you pay to share, within one year.

Tradovate is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 8A revised licence reaches disputes you have not filed yet, so the clause you are arguing under can change mid argument.

The firm behind the Tradovate brand is NinjaTrader Clearing, LLC

The 2024 disclosure named Tradovate, LLC as the firm serving you. The same paragraph now names NinjaTrader Clearing, LLC, which also trades as Kraken Derivatives US. Illinois law and the courts of Cook County govern the licence, and Tradovate's help centre still names the old entity as your broker.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Counterparty1 clause flagged

The 2024 version of this disclosure named Tradovate, LLC as the firm performing services for you. The same paragraph now names NinjaTrader Clearing, LLC, which also trades as NinjaTrader and Kraken Derivatives US.

Why this matters

You contract with a company whose name is not the brand on the app. Tradovate's own help centre still says brokerage services are provided by Tradovate, LLC, so two of its sites disagree about who holds your money.

Exhibit 11WarningStandard wordingNew

The purpose of this disclosure statement is to provide you with information about some of the material incentives and conflicts of interest that may arise between you and NinjaTrader Clearing, LLC ("Tradovate") in connection with Tradovate performing services for you with respect to futures, options on futures or other commodity derivatives ("Contracts").
Clause Material Incentives and Conflicts of Interest in Risk Disclosure Statement for Virtual Currency Futures
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 27 of 54 in the Risk Disclosure Statement for Virtual Currency Futures, 50% of the way through.

No privacy policy you can read, and your usage data is theirs

Tradovate's disclosures page carried a full privacy policy in 2024. It now carries a single link to another company's site, and the licence incorporates a policy at a second address. The licence also assigns your usage data to the company outright, with your consent to share it with affiliates and business partners.

Data handling1 clause flagged

Tradovate's disclosures page used to carry its privacy policy in full. It now carries one line pointing to an address on ninjatrader.com, and the licence incorporates a policy at a second address.

Why this matters

You hand over identity documents, income details and your trading history without being able to read what happens to them. The licence also makes your usage data the company's property.

Exhibit 12WarningHarder than usualNew

To view Tradovate Privacy Policy click here: https://ninjatrader.com/privacy-policy-clearing/.
Clause Tradovate Privacy Policy in Risk Disclosure Statement for Virtual Currency Futures
Read from the broker's site on Archived copyOpen the reference

Buried at section 40 of 54 in the Risk Disclosure Statement for Virtual Currency Futures, 74% of the way through.

The firm may own part of the venue your order goes to

Tradovate discloses that it or an affiliate may own stock in the exchanges and clearing houses where your trades are executed and cleared, and that this gives it an incentive to route trades there. It also takes part in exchange rebate and volume programmes and keeps the benefit. This disclosure is standard for a US futures broker and it is worth reading once.

Order routing1 clause flagged

Tradovate tells you it or an affiliate may own stock in the exchanges and clearing houses where your trades are executed and cleared. It says that gives it an incentive to send your trades there.

Why this matters

Your order may go where the firm earns most rather than where you do best. It also takes part in exchange rebate and volume programmes and keeps the benefit.

Exhibit 15NoticeStandard wording

As a result, Tradovate or its affiliate may receive financial or other benefits related to its ownership interest when Contracts are executed on a given Trading Facility or cleared through a given Clearing House, and Tradovate would, in such circumstances, have an incentive to cause Contracts to be executed on that exchange or cleared by that Clearing House.
Clause Material Incentives and Conflicts of Interest in Risk Disclosure Statement for Virtual Currency Futures
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 28 of 54 in the Risk Disclosure Statement for Virtual Currency Futures, 52% of the way through.

The brokerage contract is not on the website

Tradovate publishes risk disclosures and two software licences. The agreement with the futures commission merchant that holds your money is not published, and the firm specific disclosure its own risk statement points you to is not there. Customer money is pooled rather than held for you alone, it carries no insurance, and the firm may keep the interest it earns on it.

Document set1 clause flagged

Your margin money is not held in an account for you alone. The risk disclosure says customer funds are commingled, and that other customers' losses can reach yours. The firm may also keep the interest earned on your cash.

Why this matters

A futures account carries no insurance if the firm fails: no SIPC cover and no deposit guarantee. That is the rule for every US futures broker, not a Tradovate choice.

Exhibit 16NoticeStandard wording

The funds you deposit with a futures commission merchant are not held by the futures commission merchant in a separate account for your individual benefit.
Clause (5) in Risk Disclosure Statement for Virtual Currency Futures
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 1 of 54 in the Risk Disclosure Statement for Virtual Currency Futures, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must belong to a compensation scheme that pays a retail client up to a set limit if the firm fails. A US futures account has no such scheme, and the disclosure says so.

Tradovate is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The plan sold as having no monthly fee charges $35 every 30 days to anyone who does not place a live trade.

Said in public, in English

Pay as you trade with no monthly fee

Free plan card on the English pricing page

In the contract · clause Minimum Account Activity Fee

A $35 inactivity fee applies to Free Account Plan holders who do not place a live trade within a 30-day period. If your account balance is less than $35, the available balance will be applied toward the fee.

02

The pricing page names three extra costs, while the help centre adds a currency conversion fee, wire fees and charges for margin calls and liquidations.

Said in public, in English

Exchange, clearing, and NFA fees still apply

Footnote under the three pricing plans, the page's only statement of what else you pay

In the contract · clause Treasury, Currency Conversions

1% of funds converted, minimum 10 units of currency being sold

03

Tradovate sells business and joint accounts while its platform licence is for non-commercial use by one named person.

Said in public, in English

Choice of trading accounts: Choose the account type that fits your goals. We offer individual, joint, retirement and business accounts

List of what every pricing plan includes, English pricing page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of tradovate.com

In the contract · clause 2.3

The personal, limited, royalty-free, revocable, non-exclusive, non-sublicensable and nontransferable right and license to access, download, install on a single device, and use the Software and Documentation is only for non-commercial use.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of tradovate.com

04

Tradovate invites you to open an account in nine languages and publishes the documents that explain the risk in English only.

Said in public, in Spanish

Opere con futuros con un Corredor de Futuros Líder

Word for word in English: Trade futures with a leading futures broker

Spanish version of the account sign-up page, chosen from that page's own language menu

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of trader.tradovate.com

In the contract · clause Risk Disclosure Statement For Futures And Options

In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of tradovate.com

What changed quietly

No changes to report: this is the first review of Tradovate's documents.

  • REWRITTENClause Material Incentives and Conflicts of Interest

    The company performing services for you is now NinjaTrader Clearing, LLC, where the same paragraph said Tradovate, LLC in 2024.

    The purpose of this disclosure statement is to provide you with information about some of the material incentives and conflicts of interest that may arise between you and NinjaTrader Clearing, LLC ("Tradovate") in connection with Tradovate performing services for you with respect to futures, options on futures or other commodity derivatives ("Contracts").

  • ADDEDClause Affiliate Disclosure

    A new affiliate disclosure sets out the NinjaTrader group that Tradovate now sits inside, which the 2024 page did not contain.

    NinjaTrader Group, LLC’s affiliated companies are NinjaTrader Clearing, LLC dba NinjaTrader, Tradovate, and TransAct Futures ("NTC"), NT Korea Co., LTD ("NTK"), NinjaTrader, LLC ("NT") and NT Technologies, LLC ("NTT").

  • REWRITTENClause Tradovate Privacy Policy

    A full privacy policy on Tradovate's own page was replaced by a single link to another company's website.

    To view Tradovate Privacy Policy click here: https://ninjatrader.com/privacy-policy-clearing/.

  • REMOVEDClause Privacy Policy, section 3

    The clause treating continued use as acceptance of a new privacy policy is gone from Tradovate's page, along with the rest of the policy.

The documents this reading is based on

6 files, all published by Tradovate. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Tradovate publishes.

How this reading was done

Every clause above was read out of a document Tradovate publishes itself

This reading was published on .

Documents
3 of 6downloaded from the broker's site, and 3 read in full
Pages opened
24pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
2public pages set against what the contract says
Languages
EN vs ESthe language it advertises in, against the language it contracts in
Position measured
7clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

NinjaTrader Clearing, LLC

Tradovate is a brand, not the company. The disclosures page says the firm performing services for you is NinjaTrader Clearing, LLC, which also trades as NinjaTrader and Kraken Derivatives US, registered with the CFTC as a futures commission merchant under NFA ID 0309379. The archived 2024 version of that same paragraph named Tradovate, LLC. The platform licence is a different contract again, with NinjaTrader, LLC, a software company that is not your broker. Tradovate's help centre still tells you that brokerage services are provided by Tradovate, LLC, so two of the broker's own sites do not agree on who holds your money.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Tradovate writes its fee schedule in plain language, with worked examples and dated revisions, which most brokers do not do at all. Deposits are free, ACH withdrawals are free inside the United States, and there is no funding minimum. Nothing in the published documents lets Tradovate void a profitable trade, reverse a fill or confiscate a gain, and there are no bonus terms to lock a deposit. The firm that carries the account is a CFTC registered futures commission merchant and an NFA member, and it publishes daily statements of segregated customer funds going back twelve months.

There is no customer agreement for us to read. The licence says live trading needs a separate written agreement with a futures commission merchant, and that agreement is not published anywhere we could find, so our reading covers the disclosures, the fee schedule and the software licences only. Two files could not be read: the contract specifications PDF carries no extractable text, and the firm specific disclosure document for NinjaTrader Clearing dated 6 May 2026 is a scanned file. We also could not read the privacy policy. Both addresses Tradovate's own documents give for it opened a European marketing page for NinjaTrader instead of a policy, and the privacy link on the sign-up page opened with nothing on it. Every quotation on the fee schedule, deposit holds and withdrawals comes from four of Tradovate's own help centre pages. The mobile licence is covered only in part, enough to confirm its liability and time limits.

How to check any of this yourself

Every quote above links to the Tradovate file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Tradovate publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Tradovate on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 14, 2026.

If you represent Tradovate and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Tradovate. Whether its licence is real and current is a separate check on the broker profile.

What traders say about Tradovate

Comments on Tradovate are posted on its profile

Nobody has commented on Tradovate yet. If you have traded with them, your experience helps the next reader decide.

Write the first comment
Back to the Tradovate profile