Trading Technologies
Table of Contents
Useful Links
Support – A place to get customer service, open a ticket or phone TT to solve an issue.
Markets – The markets that users have access to when using Trading Technologies
Pricing – View how much it costs to use the TT platform.
Community – TT’s community section is an environment in which users share ideas and help each other solve issues.
Background
Used by: Automated Traders and Professional Traders
Founded in 1994, Trading Technologies is an independent software vendor with an extremely sophisticated infrastucture that faciliates fast algorithmic trading. HQ in Chicago, TT has almost 1000 employees on LinkedIn.
Trading Technologies has built up a reputation for being the fastest trading platform, in which they have the sophisticated and powerful infrastructure, yet is open to retail traders.
Affiliations or Secondary Platforms
Trading Technologies has various partnerships, having teamed up with the likes of CN First, HDR Global Trading, CoinFLEX, TradeStation Group, GDAX, Interxion and many others. TradeStation has a long list of distributors. Some include: ABN AMRO Clearing, ADM Investor Services, Advantage Futures, AMP Global Clearing, Aarna Capital, Bank of America Merrill Lynch + more.
Market Access for Live Trading
| Market Access | Instruments |
|---|---|
|
Stocks |
B3, euronext, ICE_L (common stocks), ICE (7x) stocks |
|
Commodities |
N/A |
|
Futures |
EEX, MX, CME, Eurex, ICE, OSE, NFX, JSE, ASX, B3, BIST, BitMEX, CFE, TOCOM, TFX, TFEX, SGX, and more |
|
Options |
SGX, OSE, NFX, NDAQ_EU, MX, MOEX, MEXDER, MEFF, JSE, LSE, JSE, IDEM, ASX, B3, BIST, CME, EUREX, and more |
|
CFDs |
Euronext, ICE L |
|
Forex |
N/A |
|
Mutual Funds |
N/A |
|
Hedge Funds |
N/A |
|
Bonds |
US Treasury bonds: KCG, FENICS, NFI, BrokerTec |
|
ETFs |
N/A |
|
Futures Options |
N/A |
|
Crypto |
CoinFLEX, BITSO, Coinbase, DERBIT |
|
IPOs |
N/A |
|
Direct Market Access |
Trading Technologies provide DMA in one of four exchange-supported network configurations using the BVMF gateway. The four models of connection are explained here. |
|
Account Types |
Standard: $700/month (subscription) or $50/month with $1,000 CAP (transactional); Pro: $1,400/month (subscription) or $400/month with $1,800 CAP (transactional) |
Trading Technologies Market Access Review
Trading Technologies provides extensive market access across various asset classes, making it a versatile platform for professional traders. The platform supports trading in multiple markets, including futures, options, stocks, and cryptocurrencies. TT offers access to a broad spectrum of instruments, including major futures exchanges (EEX, CME, Eurex), options markets, US Treasury bonds, and several cryptocurrency exchanges. With support for exchanges like CME, Eurex, and ICE, TT is ideal for futures traders. It provides Direct Market Access (DMA) through various exchange-supported network configurations, enhancing execution speed and reliability.
However, the platform does not support trading in commodities and forex, which might be a drawback for traders focused on these markets. Additionally, TT does not offer trading in mutual funds and ETFs, limiting options for portfolio diversification. Overall, Trading Technologies excels in providing comprehensive market access for professional futures and options traders, with some limitations in commodities, forex, and mutual funds/ETFs
Market Data and Software Costs
| Market Data | Trading Technologies fees and margin rates are frequently discussed topics. While many reviews offer basic information, Quant Savvy provides a detailed breakdown and comparison with other trading platforms |
|---|---|
|
Data Feeds Compatible |
Trading Technologies supplies market data for over 40 exchanges and execution venues. Users can connect FIX applications if they wish to use FIX market data.
Or, custom solutions are possible through developing API applications that can be normalized between exchanges. Trading Technologies does offer the potential to avoid market data subscriptions, but they can be easily integrated if the user wants to use a third party. |
|
Minimum Account Opening Balance |
N/A |
|
Time to open account |
Opening an account is a fast process, and you can be up-and-running on the same day. There’s a 30-day free trial, making the process very welcoming and accessible. However, many reviews on the Play Store (app) claim difficulties logging in and opening an account suggesting slow logins and bugs. Tested today, the verification email did not arrive immediately. |
|
Inactivity fee |
N/A |
|
Withdrawal Fee |
N/A |
|
Desktop |
Standart: $700/month (subscription) or $50/month with $1,000 CAP (Transactional)
Pro: $1,400/month (subscription) or $400/month with $1,800 CAP |
|
Mobile App |
Free. Trading Technologies offers a mobile app that provides access to its trading platform, allowing users to manage their trades and monitor markets on the go |
|
Web Trading |
Available |
|
Stocks & ETFs |
N/A |
|
Stock Options |
N/A |
|
Futures |
Standard trading fees typically range from $0.30 to $1.20 per contract, depending on the exchange and the volume traded |
|
Futures Micro E-mini |
Fees for trading Micro E-mini contracts are generally lower, often ranging from $0.10 to $0.50 per contract |
|
Futures Options |
Trading fees for futures options also vary, typically between $0.50 to $1.50 per contract, depending on the exchange and volume |
|
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User Interface and Technology
Charting, Indicators and Tools
Trading Technologies Charting: Charting has always been a downside of Trading Technologies, but they’re slowly improving their arsenal of indicators and charting capabilities.
The charting is fully integrated into the platform, from Desktop to Mobile, where you can make use of spread charts and chart trading.
TT provides advanced charting capabilities with a wide range of technical indicators and drawing tools. The charts are highly interactive and can be customized extensively to match the trader’s requirements. The platform supports various chart types, including candlestick, bar, and line charts, along with time-based and tick-based intervals.
Trading Technologies is known for its high-performance trading infrastructure. The platform is built on modern, low-latency technology, ensuring that orders are executed quickly and reliably. This is critical for high-frequency traders and those who rely on rapid market access. The platform’s architecture supports both browser-based access and desktop applications, providing flexibility for traders
Platform Reviews by Users
“One click trading! No confirmation required means a significant efficiency gain. Also, it is possible to deploy multiple algos with TT.”
“Charting is horrible. Only recently did they implement cont contracts but they don’t even have volume-based rollover.”
User reviews of TT generally highlight the platform’s reliability, speed, and advanced features. However, some users note that the extensive customization options and advanced tools can present a steep learning curve for those new to the platform. Despite this, experienced traders appreciate the flexibility and power that TT offers
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Trading Technologies Interface Review
rading Technologies excels in providing a comprehensive and powerful trading environment suitable for professional traders. Its advanced charting, efficient order management, and robust market data tools make it a top choice for serious traders. However, the complexity and cost may be a barrier for beginners or casual traders. Overall, TT scores highly for its user interface and technology, earning a rating of 3 out of 5 stars
Day Trading Platform Tools, Live Trading, Research and Portfolio Risk Software
Scanners, Screeners, Watch Lists, Software tools, Alerts
Trading Technologies has a great user interface in which many widgets are available. The watchlist widget allows you to see the contract, pos, last, bid/ask, vol and many more data points. The Strategy Creation widget allows the user to create a watchlist based on their strategy. It submits the strategy to the exchange and then it can be watched in your workspace.
Placing Live Trades and Trading Technology
Placing trades: Placing trades is intuitive and fast with Trading Technologies. Order parameters include Basis, Best Limit, Cross, Fill and Save, Iceberg, Limit, Market Limit, Stop Limit, OCO and many others.
Portfolio, Risk Management and Software Tools
Many features are conducive to risk management on Trading Technologies. Firstly, users are able to combine order activity across all execution platforms. This means you can get the bigger picture using the order book for an overview of all positions and orders. Prices can be configured so algos and traders do not submit undesirable orders. Other Trading Technologies features include pre-trade risk checks, order cross prevention, post-trade risk and portfolio analysis. There’s a risk matrix available that allows the user to assess multiple scenarios at the same time for changes to price and volatility.
Research and News Feeds
No Fundamental Data: When charting, historical prices are available from up to 10 years ago. However, there is no fundamental data available and Trading Technologies lacks research capabilities. There are many great streams of data, but they’re mostly current data, such as anonymized order data in real-time. Trading Technologies doesn’t have a news feed feature, so you’re reliant on third parties for any fundamental analysis.
Trading Technologies Platform Tools Review
Trading Technologies offers a robust suite of tools for day traders, with a focus on an intuitive user interface and comprehensive trading technology. The platform includes widgets like watchlists and the Strategy Creation widget for real-time monitoring. Placing trades is efficient with various order types such as Iceberg, Limit, Market Limit, Stop Limit, and OCO.
For portfolio and risk management, Trading Technologies allows users to consolidate order activity across different platforms, offering a complete view of positions and orders. Features include pre-trade risk checks, order cross prevention, and post-trade risk analysis. The risk matrix tool helps evaluate multiple scenarios for price and volatility changes.
However, the platform lacks fundamental data and a news feed, requiring traders to use third-party sources for research. Despite these limitations, Trading Technologies is strong in technical analysis and trade execution
Mobile App
Mobile App Rating
Apple Store Rating: 5 Android Rating: 4.2 *Apple Store has only 2 reviews
Mobile Trading
Functionality: Mobile trading often raises concerns around speed, but Trading Technologies’ colocated servers allow for low-latency trades wherever you are on mobile. You can manage your algos using ADL, place and manage orders, view market data, use the auto spreader and benefit from collocated execution. Users can also manage their algorithmic strategies, perform chart trading, and access a comprehensive portfolio view directly from their mobile devices. However, some users have reported issues with saving instruments on the market list, and the lack of price alerts can be a significant drawback for active traders
Mobile App Reviews
“Unable to save intruments (ES, ZN, CL) on the market list section. Once you log off and log back in all your instruments will be removed. It will revert back to the Default blank market list with the “+” symbol in the middle where your are instructed to add new instruments. The feature ultimately becomes useless.”
“I’d like to start this review by pointing out its a beautiful looking app. The platform overall is second to none for commodity traders. My biggest gripes with the Android and iOS versions… No alerts for when a price point is hit? I can’t logged into the desktop app and phone app simultanously?”
User feedback highlights the app’s sleek design and powerful functionality, particularly for commodity traders. Nonetheless, there are criticisms about the inability to save instruments and the lack of simultaneous desktop and mobile logins, which can hinder the overall user experience
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TRADING TECHnologies no MOBILE APP
The Trading Technologies mobile app provides a high-quality trading experience with strong performance and comprehensive features. However, some limitations and user concerns about functionality and ease of use slightly detract from its overall appeal
Programming Language
Language
Trading Technology uses Linux C++ API within their secure development environment in which traders can build and test trading strategies.
Users can however avoid writing syntax by using the ADL, which is a drag and drop environment.
Learning Curve
Support: C++ is one of the most difficult programming languages due to it being an old language, with some flaws, as well as being stripped back. But this has its advantages, if you’re a good programmer. However, the ADL environment means you don’t have to write any code yourself. Whilst the capacity and potential for TT’s development environment is high, getting started is slow, as there’s a slight learning curve. The drag and drop nature of the environment however is useful in saving time, and can become efficient once users get to grips with it.
YouTube Video Channel
Trading Technologies has a reasonably large back catalog of Youtube videos, most of which are educational. Videos are still being uploaded, around once a month, and generally, show how to manage and use the Trading Technologies trading platform.
Compatibility and Design
Whilst it takes a while to get used to ADL, it’s an extremely visual way to build a trading algo. You can see the nodes, rules and flow of logic in one picture along with an error list, variables, breakpoints and so on. There’s also a useful dashboard in which the user can view all algos, their status, P/L and other data
Speed and Performance Considerations
Trading Technologies uses C++ because it’s perhaps the most efficient at processing lots of data, meaning it’s great for high-frequency trading. The low-latency means speed is optimal. Trading technologies is the fastest trading platform that’s on the commercial market. Autospreader for example is extremely fast, and Trading Technologies in general is being leveraged by speed-sensitive traders. Trading Technologies’ X_Trader performs orders extremely quickly; perhaps outcompeting many other trading platforms on the market. Testing with 5 users on the Trading Technologies Gateway 7.15, gateway message delivery is 150 microseconds for the first and 5th users. It’s not only the execution of trades that’s fast either, but the search functionality and the auto roll feature too, which make using the platform a time-efficient experience.
Resilience and Limitations
Drag and drop methods are always going to have limitations because they’re already pre-packaged. In this sense, they’re less customizable than if you were to use coding syntax. We believe that for some users the lack of customization might be a major issue, so we would recommend choosing other trading platforms, such as Amibroker.
User Reviews
Overall, user reviews praise Trading Technologies for its robust, fast, and efficient trading platform, though some note the limitations in customization and the initial learning curve with ADL
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Trading Technologies Programming Review
Trading Technologies offers a powerful, efficient trading platform with a flexible development environment. While the C++ API provides deep customization for experienced programmers, the ADL makes strategy development accessible to those less familiar with coding. Despite some limitations in customization, the platform's speed and performance make it a strong choice for professional and high-frequency traders, earning a rating of 3 out of 5 stars
Automated Trading and Backtesting
Backtesting
Backtesting was never available with Trading Technologies, until at the end of 2019 where a Beta version was announced. Now, the ADL developers out there can backtest their algos by executing multiple instances of the strategy with unique parameters, testing before and after changes and evaluating the execution behaviour of the Proof of Concept strategies. Users can also train and learn with no risk.
Live Automated Trading
Live Automated Trading: Autotrader allows the user to develop and execute strategies with an interface similar to Excel. There’s some great features too, such as multiple levels of automation, Excel integration, built-in formula engine, strategy prices deriving from the market/theoretical values. There’s also an auto spreader which has multiple MD trader windows, allowing the user to auto trade calendar and inter-product spreads.
Trade Management and Historical Trades
Trade Management: Historical fills can be viewed quickly which allows users to track past performance. Users select a date range and all trades are displayed clearly. The order toolbar is a means to manage current trades, in which you can cancel, inquire, pause (algo), cancel bids, and cancel offers. There’s also a “?” feature where you can read the original order details.
Portfolio Testing and Trading
There aren’t many features to perform portfolio testing on Trading Technologies, other than the ADL backtester which allows users to train, learn and execute algos to validate proof of concept.
Data Stability and Speed
The Colocated servers of TT mean that, whether you’re building your algo or trading on your phone or desktop, you’re accessing super low-latency trading potential. The C++ programming language along with these Colocated executions mean that TT is arguably the fastest trading platform available to retail traders. For all of Trading Technologies’ lack of certain features, its simplicity and infrastructure is at least conducive towards a hyper-fast trading experience. However, if you are not a professional trader, then there are quite a few alternatives to choose from which we’ve discussed here. For instance, TradeStation can offer much better data stability and more features for lower prices.
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Trading Technologies Automated Trading Review
Trading Technologies provides powerful automated trading and backtesting capabilities, particularly for professional traders. The introduction of backtesting, combined with live automated trading features and efficient trade management tools, makes it a robust platform for developing and executing trading strategies. Its unmatched speed and data stability are significant advantages, though the platform may lack certain features and cost-effectiveness for non-professional traders. Overall, Trading Technologies earns a rating of 4 out of 5 stars for its automated trading and backtesting capabilities
Customer Support and Learning Resources
Online, Telephone, Email and Account Services Support
Trading Technologies asks customers to open a ticket on the website if the issue is a non-emergency. Customer support will then reach out in their own time to resolve the issue. If the issue is more urgent, there is a phone line for the US, Americas, Asia, Australia, Europe/Middle East and finally, Japan. Phone lines are staffed from 12pm Sunday to 5pm Friday (CT). The website is written in English, but there is a Japanese translated site too.
Forum and Community Support
Community Section: Trading Technologies has their own community section of the website. Within this,its there is a forum in which posts are regular. Most are regarding users’ requests for advice in building their algorithms, or issues they come across. Most posts receive at least one reply, so this can certainly be a helpful resource.
Opening and Account
Opening an account is supposed to be fast at Trading Technologies, but many users experience issues with verifying emails, logging in and general bugs in the process of opening an account.
Deposits, Withdrawals Process
User Reviews
“Slow logins and once you switch out to another app. It does not maintain in the background, having to force close and reopen the app. Can you do something about it. Very challenging to use…”
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trading technologies CUSTOMER SUPPORT & LEARNING
Security
Monitoring, Encryption
Encrypted Communication: Trading Technologies uses Diffie-Hellman encryption for their network security. This means users’ passwords are automatically encrypted and secured when using the gateway.
The DH parameters file is a file that’s encrypted, containing all common parameters used in calculating the secret keys.
Safety of Funds
Two Factor Authentication
Two factor authentication is possible with Trading Technologies, in which users must submit their SMS number correctly.
trading technologies security
trading technologies average BROKER AND SOFTWARE
TradeStation is the best software package for beginners and intermediate traders using technical analysis or algorithmic trading. The EasyLanguage for programming has a flat learning curve and even beginners should be able to pick it up within one week.
TradeStation weakness is its customer support and account opening process. Many Quant Savvy clients have had delays with opening accounts, contacting technical support or even registering the IP address of a computer.
TradeStation offers free software and free market data which is wonderful news. You can load 90 days of historical tick data for Futures markets which can easily be exported and stored in a database to be used later. There are no restrictions on historical data and we find we can easily load 1-minute chart all the way to 1999 within a couple of minutes.
Automated Trading has some limiting features and we still cannot easily trade a portfolio without placing an individual system on its own chart. Despite this we find you can create a strategy with Easylanguage, test it on free historical data (the backrests are slow relative to Multicharts to AmiBroker) and run it live or in Simulation fully automated - the whole process is so smooth. Even beginners looking for their typical moving average crossover systems can most certainly code, test and run a system live within an hour with ease.
TradeStation as a broker is very competitive with trading fees and commissions. TradeStation, when compared to Interactive Brokers, has higher commission fees and it has limited access to market exchanges. However, for the average US Futures, Crypto, Stocks or Options Trader it has all major market access you will need. If you are an institutional investor our advice would be to try Interactive Brokers - we perceive that as brokers Tradestation and IB are competing in a different space.
The mobile app is exceptional as shown by the high reviews comparable to the other platforms. It has a very intuitive well-designed user interface which allows quick easy access to place trades, monitor a portfolio or check account balances in realtime.
TS offers a 1-stop shop (charting, testing, data feed, broker). We have yet to find a system which cannot be implemented with Tradestation - our advice at Quant Savvy to new traders is not develop your own trading platform it is not going to magically make you money. Your time is best spent developing automated trading systems using already built and tested 3rd party software, if you cannot be successful with a Multicharts or Tradestsation then we question whether your strategy will perform on your own custom-built platform.
Tradestation is a clear winner when it comes to the Mobile app, easy live Automated Trading, extensive free historical data, free 90-day tick data and a strong charting package.
