Tradovate, an online brokerage firm for active, self-directed futures traders, and Order Flow Analytics (OFA), a data visualization company, announced today that Tradovate has integrated OFA’s analytical and algorithmic trading tools into its cloud-based platform. The move enables thousands of current OFA clients to transform their experience with the products, providing new means of access, a higher quality data delivery and the potential for significant cost savings.
Under the agreement, Tradovate is extending to OFA clients its unlimited commission-free trading and cloud-based platform, which the firm delivers without the licensing fees usually associated with trading platforms. Through Tradovate’s cloud-based technology, OFA clients will, for the first time, be able to access the tools on Mac devices and via the web. Clients of Tradovate also will have seamless access to OFA’s popular offerings, including pre-built algorithms for automated trade management and order flow tools.
OFA’s tools analyze order flow and volume as visualized in three-dimensional form to provide insight into real-time market sentiment. Rather than relying on snapshot views of price movement, the tools capture the more complex picture of today’s unfiltered tick-by-tick rapid-fire volume, designed to help traders understand market moves, improve targeting for trade entry and exit, and increase their trade conviction.
Rick Tomsic
CEO and Founder at Tradovate, LLC
Tradovate Holdings, LLC Founder and CEO Rick Tomsic said:
We’re committed to offering our clients a wide range of valuable tools to go along with our trading platform, and OFA is an outstanding addition as our latest integration. We view this partnership as an exciting opportunity for both companies to provide a truly value-added experience for our respective users and a compelling offering to attract new clients to both organizations.
Now clients of OFA can also enjoy our commission-free trading, and they can access OFA’s powerful Algo/X functionality, fully integrated within Tradovate, making management of these tools quick and easy for traders.
Prior to the partnership with Tradovate, OFA users would download the program on computers that met specific requirements, and there could be latency issues depending on the type of computer and internet connectivity available for processing extensive data at the user’s location. Because the Tradovate development team built the OFA tool into its trading application, all of the data processing happens at a central location, vastly simplifying the user experience.