Tradovate, an online brokerage firm for active, self-directed futures traders, will be one of the first brokers to offer futures trading on FairX from day one when the new exchange launches this month.
Tradovate is also the first firm to announce commission-free trades for FairX market participants.
Tradovate’s mission is to deliver new technology, the latest futures products and new pricing models designed to reduce a trader’s total costs. The FairX futures offering will be its most significant achievement to date in that mission, as the firm will provide commission-free trades with no market data fees, subscription fees, lifetime license fees, inactivity fees or platform fees. Through the end of the year, Tradovate will cover any exchange and clearing fees on FairX transactions for its clients.
Rick Tomsic, Founder & CEO of Tradovate Holdings, LLC, says: “From inception, Tradovate’s vision was to change the futures industry through technology and pricing innovation. Our team built a brokerage firm focused on powerful, yet easy-to-use technology to reduce costs while providing the features and tools that futures traders desire. We have worked tirelessly to make sure we meet the needs of active traders – whether they already trade futures or want to participate in the burgeoning futures market based on their stock, options or forex trading experience. Tradovate is excited to help level the playing field for active retail traders by bringing FairX contracts to our clients commission-free and with zero fees.”
FairX will launch futures that are designed for retail traders, offering new opportunities to get exposure to the stock market with indexes that are highly correlated to some of the most actively traded instruments. FairX intends to offer products on a small, simple and accessible basis. These smaller contracts will be commission-free at Tradovate, making them easier to build and scale in and out of positions with more flexibility.
Neal Brady, CEO of FairX, says: “Tradovate has a strong following among active traders, and we appreciate the firm’s enthusiasm for our product lineup and our shared commitment to a quality, low-cost offering. The Tradovate team has placed great emphasis on providing a robust platform which traders can easily use from anywhere, making it a great fit for our contracts that are designed to trade around the clock, with product specifications tailored to individual investors.”
Tradovate’s modern, cloud-based platform powers individuals’ trading with access to desktop (both Mac- and PC-compatible), web and mobile platforms for research, analysis and trading.