This morning just before 10 am ISM and Construction Spending, Tradovate warned the CQG execution System was down. Approx 10 min. later, Tradovate reported the system was back up. This was not true. Traders in positions were locked in. Tradovate did not respond to to intra-app chat, extra-app chat or customer support phone calls. What good is a warning, with no way for a trader to exit trades to flatten exposure. They have made no comment thus far, about making their traders whole. So much for "the best futures Broker of 2020".
That's odd. I executed a trade at around 10:09 AM ET this morning through CQG. So if CQG did have a blip in that timeframe they mentioned, well, it was up by 10:09 AM. If Tradeovate clients could not make trades after that, it had nothing to do with CQG?
Are you sure this was a CQG issue? I didn't try to execute any trades during those times but my broker always contacts me whenever there are issues with CQG and i didn't receive anything today.
To be clear, it is Tradovate blaming CQG, for the problem. I have no way to verify this. I also have screen shots of over 100 Exit at Mkt & Cxl attempts that were rejected during this period. All the attempts are verified by individual ID#, so Tradovate knows exactly when the attempts were made. Additionally, their was NO notification of when the system was actually functioning,again. What is clear is the service status report is factually wrong. Thus far, Tradovate has NOT issued any recognition or explanation for this debacle. In the past any difficulty has been promptly addressed by email with an explanation. This time there is NOTHING and all communication tools fail. The "Trades by Matt" live stream documents the events. So as not to be confused, Matt initially goes back and forth between his Tradovate and Topstep accounts. But clearly, both Matt and his chat document the Tradovate issues in real time No need to watch the entire stream the relevant issue is addressed starting at 20:17 of the stream (you can also see the Tradovate clock in the upper left); by 35:00 it is clear there is a MAJOR problem. As you can see all appears normal with the data (normal DOM), but you could not execute trades. So if you were already in a trade you were stuck. Tradovate does owe traders both an explanation and a solution. They also need a more robust communication system, so during a time of crisis trades can reach a representative.
Yes, it was a CQG issue. Tradovate connects to CQG via FIX. The CQG FIX API experienced technical issues. There is often confusion around CQG as some software that is more front-end based without a server-side components (advanced server-side orders, etc.) connect directly to CQG via the CQG Web API. This is not the case with Tradovate. Any firm connected to CQG FIX in Chicago was down. With that said, Tradovate selected CQG, so we view this as our issue. We will deal with CQG privately. If you experienced an issue, send the details to support@tradovate.com. The more detail, the better, and we are happy to review. I would also encourage you to follow us on Twitter, @Tradovate, for real-time updates.
Lonefutures, when you get an update on how it is going tobe handled I'd appreciate if you would post. I am looking at moving my IB account and Tradovate is on my list. I like the platform, but I don't need to deal with issues.
Good News !!! Tradovate has completely resolved all issues and restored my confidence in the company . Company character is exposed during the tough times . The number one thing with Tradovate is TRANSPARENCY. Tradovate admitted the issue (who else does that) and gave a way to resolve it.Then, promptly responded. Everything you do on the platform has a digital trail which is easily accessible to you, so you can make your case or just keep complete records. Want to see costs and fees, commissions, margins just check the website. Everybody gets the same deal. It is completely up to you. With the exception of the events of 4-1-21, I have found that Tradovate has exceptional support. Andrew is a superstar . They are prompt to answer email, and phone calls and are knowledgeable and friendly. Also, the chat actually works . In my experience, they generally, try to be helpful and will pursue an issue to successful resolution. They respond to and solicit trader requests for new features and frequently update and improve the platform. You can even try Beta versions and offer feedback.The replay feature is second to none. They have a very informative website, with an exhaustive FAQ section. They even have a traders helping traders section. Although, I only trade from my desktop, I have been checking out Tradovate pulse and would not hesitate to use it in the future (see youtube videos). Would I recommend Tradovate, I already have.