The difference Between Rithmic and Tradovate when choosing your Apex Trader Funding account is outlined in this article, read on, and we hope this helps with making your decision!
Watch the Video on the Differences between Rithmic and Tradovate
Apex Rithmic vs Tradovate
Deciding which apex account to go for, be it Rithmic or Tradovate will depend on what’s important to you. Let’s hit the basics straight away, Tradovate is a nice user friendly experience, while Rithmic offers some more advanced features around risk and settings.
If you don’t know what Apex Trader Funding is, read more here.
The difference between rithmic and tradovate could come down to the prop firm selection and who you want to trade with. Apex accepts both however other prop firms may not.
What is the best value, Rithmic or Tradovate?
When using Apex, before exploring usability, the difference between rithmic and tradovate is cost.
Tradovate costs a little more, but is probably the easier option. Rithmic is cheaper, and has better risk management features. This video outlines the best account pricing, risk and other features since they are not all scaled equally.
Rithmic for Apex
Rithmic offers a range of tools and features that allow you to manage your account from a computer program you need to install.
You can see a range of accounts (if you ahve more than one Apex account), set stop losses and automations in terms of closing orders.
Tradovate for Apex
Tradovate offers an online browser based platform experience which is easy to set up and enjoyable to use. It is also accessible on a mobile device which makes it easy to monitor your positions away from the computer.
Tradovate Setup Tutorial
For a tutorial on setting up the Tradovate for apex, where you need to link it to the Ninjatrader, check out this page.
What is Tradovate
Tradovate is an online platform that is similar to Tradingview. It was bought out be Ninjatrader, and Tradovate can link to ninjatrader platform which is downloadable.
Tradovate allows users to trade via a mobile device or on the computer.
What is Rithmic
Rithmic is a platform that links accounts and allows you to trade multiple Apex accounts at once.
The best features of Rithmic could be that they have excellent risk management settings. The user experience is a little clunky, so comparitively the Tradovate experience is much easier and better to look at.
How to Set Up Rithmic for Apex
Setting up Rithmic is a little bit of a pain at first, but following these instructions should help you get through it fast. The reason many people choose Tradovate over rithmic can be the setup process. When considering the difference between rithmic and tradovate, the setup process may be a big one for those who aren’t as tech savvy or patient.
Rithmic Settings for Apex Trader Funding
The Gateway to use is Chicago area, if you change this to your closest geological area it doesn’t work.
NinjaTrader Connection Setup for Apex Trader Funding
Once in Ninjatrader, click Connections, then configure. If you’ve done this before, make sure you click on the connection you set up (My NinjaTrader etc.) to connect your account after logging in.
Double click on the “Available” one that relates to your account. Either Rithmic for Ninjatrader brokerage (for rithmic) or Ninatrader (for Tradovate). This will allow you to input your logins to connect your account.
Benefits of Rithmic Over Tradovate's NinjaTrader
For those working with platforms like Sierra Charts, Jigsaw and other platforms for charting, trading and reading data, Rithmic may be the better option, as it will integrate into these platforms.
On another note, it may be less buggy to work with Rithmic according to several complaints on places like Reddit.
Also, the speed of transactions may be faster, purely based on what others have said. I have not noticed any speed difference that has impacted my trading.
Benefits of Tradovate Over Rithmic
Tradovate is easy to set up and use making it great for those who aren’t super tech savvy or patient with tech. Getting the right settings and linking platforms like Rithmic to Ninjatrader isn’t always easy.
Tradovate allows for a simple browser based access to the trading platform, with no need to interconnect a range of platforms to each other.
Tradovate can easily connect to TradingView, which is a popular choice among traders.
Benefits of Rithmic
When considering the difference between rithmic and tradovate, a key point is the ease of copying across multiple accounts. For those intent on building a portfolio of prop firm accounts, Rithmic may be worth the extra setup efforts to get easier copy trading capabilities when compared to Tradovate.
Key benefits of Rithmic Trading Platform include: Extremely low latency making for faster trade execution and data feed updates.
Risk management policy and controls through R Trader.
Ability to develop indicators
Ability to stream data into a spreadsheet if you choose.
Intuitive Order Management
Benefits of Tradovate
Tradovate is easy to use, browser based and works on mobile too. For anyone wanting to simply dive in and trade their account, Tradovate is a great option for Apex Trader Funding or TradeDay.
Tradovate vs Rithmic
Tradovate vs Rithmic and the difference between the two is clear. For traders needing fast execution above all, Rithmic is probably the better choice. For those who hold positions a little longer and aren’t concerned about losing a few milliseconds of speed from a trade, Tradovate is a far easier option to go with.
Key Differences Between Rithmic and Tradovate
For those less concerned about using a prop firm, here’s a deeper look at the differences between Rithmic and Tradovate trading platforms, including pricing,
Platform Focus
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Rithmic: Primarily known for its robust trading technology and low-latency connectivity, Rithmic caters to professional traders and institutions. It offers advanced charting, order execution, and market data solutions.
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Tradovate: Focuses on user-friendly, web-based trading platforms designed for retail traders. It emphasizes simplicity, accessibility, and a seamless trading experience, particularly for futures traders.
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Pricing Model
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Rithmic: Typically charges for market data and platform usage, which can be more cost-effective for high-volume traders. It often requires a subscription or additional fees for data feeds.
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Tradovate: Offers a subscription-based model with unlimited trading and bundled market data, making it attractive for traders who prefer predictable costs. It also provides commission-free trading options.
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Technology and Connectivity
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Rithmic: Renowned for its high-speed, reliable infrastructure, Rithmic is ideal for algorithmic and high-frequency traders who require low-latency execution.
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Tradovate: Leverages cloud-based technology, enabling traders to access their accounts from any device with an internet connection. It prioritizes ease of use over ultra-low latency.
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Target Audience
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Rithmic: Best suited for experienced traders, institutional clients, and those who need advanced tools and customization.
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Tradovate: Geared toward retail traders, beginners, and those who value simplicity and accessibility.
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Features and Tools
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Rithmic: Offers advanced features like custom indicators, algorithmic trading support, and extensive API integration.
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Tradovate: Focuses on essential trading tools, mobile-friendly interfaces, and integrated analytics for retail traders.
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