NinjaTrader buys US futures broker Tradovate

abdelaziz Fathi

FX platform provider, NinjaTrader has acquired Tradovate Holdings, an NFA registered introducing broker providing brokerage services to traders of futures exchange products.

In a statement, the US-based software provider highlighted the apparent benefits their combined client base will get following the takeover, describing it as the next logical step for its platform. NinjaTrader said the transaction creates one of “the most formidable” retail futures brokers with combined trading volume in 2021 of approximately 100 million futures contracts.

Operating out of Ohio, Tradovate launched its operations five years ago as an online futures brokerage firm dedicated to meeting the needs of retail traders. The firm offers a cloud-based futures trading platform and subscription-based, commission-free trading.

Part of the deal, Tradovate founder and CEO Rick Tomsic will join NinjaTrader’s executive team as its chief strategy officer. He will also serve on NinjaTrader’s board of directors. Prior to founding Tradovate in 2016, Rick founded Open E Cry, LLC (OEC) in 2001 and has served in various executive roles at optionsXpress, Charles Schwab, and GAIN Capital.

The move marks a fresh expansion for NinjaTrader into the futures trading business. In January 2021, the company acquired the US registered FCM, TransAct Futures and its wholly-owned subsidiary, Infinity Futures.

Headquartered in Chicago, Illinois Infinity Futures is an independent introducing brokerage that was originally founded in 1996. The company has been providing customers from around the world with access to derivatives markets for over 10 years.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

NinjaTrader operates as an introducing broker

Martin Franchi, CEO of NinjaTrader Group, LLC, commented, “NinjaTrader’s and Tradovate’s shared vision to transform retail futures is at the heart of this transaction and will accelerate our goal to make futures more accessible, mainstream and modern. The combination of the largest and fastest-growing market leaders and our commitment to continued investment in the businesses will unlock innovation and scale, which will ensure we rise to meet the growing demand of the trading community for innovative products and services.”

Rick Tomsic added: “This acquisition is the culmination of that effort but only the beginning of the story as we leverage our combined technology, vision and talented teams to take new and experienced traders to the next level of client experience. I believe that the futures industry has barely scratched the surface in individual investor participation. We aim to be the number one retail futures brokerage in the world, not just by client numbers but by pushing the boundaries and leading through innovation with technology and exciting new ideas.”

Launched in 2003, NinjaTrader provides a complete end-to-end ‎platform serving manual and automated traders of futures, equities and ‎forex markets. The platform offers dynamic analytic tools both natively and through its vast ‎‎third-party partner ecosystem.

NinjaTrader officially operates as an introducing broker ‎for several brokers and claims such acquisitions ‎deliver savings to its clients through tight spreads and ‎discount commissions.‎ The platform is available at over 100 brokerages ‎worldwide and is promoted through offering free charting, analytics, ‎system development and trade simulation. ‎

Additionally, users of NinjaTrader’s trading software have ‎access to crypto brokerage service providers directly through a simple online registration process.

Read this next

Institutional FX

Invast Global ramps up its offering with 10 soft commodity CFDs

Sydney-based prime-of-prime provider Invast Global has expanded its offering with the addition of ten soft commodity CFDs, which increases their index and commodity CFD offering to 35 instruments.

Retail FX

FF Simple and Smart Trades says Goodbye to CySEC authorization

The Cyprus Securities and Exchange Commission (CySEC) confirmed that it has wholly withdrawn the Cyprus Investment Firm (CIF) licenses of FF Simple and Smart Trades Investment Services Ltd.

Crypto Insider

Shining the Light in Crypto’s Dark Places

Something changed in regulators’ minds after the November crash of the FTX crypto exchange.

Executive Moves

Financial Commission Adds Sam Low to Dispute Resolution Committee

The Financial Commission (FinaCom PLC), a dispute resolution service that caters to the financial services industry, has appointed Sam Low as the newest member of its Dispute Resolution Committee (DRC).

Digital Assets, Uncategorized

De-facto owner of Bithumb exchange arrested in South Korea

South Korean prosecutors have arrested Kang Jong-Hyun, the anonymous chairman and owner of the country’s largest cryptocurrency exchange, Bithumb, on charges of embezzlement and stock manipulation.

Retail FX

Interactive Brokers volumes snap three-month losing streak

Electronic brokerage firm Interactive Brokers LLC (NASDAQ:IBKR) said its trading volumes rose in January, an indication that investor confidence in the financial markets is rebounding after having been fairly mixed over the past few months.

Digital Assets

VVF invests $5 million in Everscale, a potential Layer 2 solution for Venom blockchain

“For us, this is a strategic investment aimed at the technological development of projects and teams around technologies that we focus on and actively develop. In particular, we are talking about the Venom blockchain project and its ecosystem, which is planned to be launched soon and for which Everscale is a potential Layer 2 solution.”

Institutional FX

FXSpotStream volume ends string of declines on January rebound

Trading volumes on institutional FX platforms surged in January as traders increased their bets on central bankers’ policy with evidence mounting that inflation and economic growth are both losing momentum.

Industry News

DeFi firm Aurox launches SEC-compliant crowdfunding campaign on tZERO

“This is a great opportunity for us to raise capital from our community and the broader public on a leading fully regulated platform. We are confident that the tZERO Markets platform will provide us with the exposure and reach we need to attract a diverse investors to support our business growth.”

<