Module 1F: Futures Foundations · Lesson 11 of 13 · Back to Futures Foundations · Course
What you’ll learn
- the difference between a platform, a broker and a data feed
- what NinjaTrader, Tradovate and Rithmic are
- where TradingView fits
- market data fees
- how prop firms bundle platforms
Three pieces that fit together
- Platform – the software you look at: charts, the order ticket, the DOM.
- Data feed / connection – the service that delivers exchange prices to your platform and sends your orders on.
- Broker (for a real account) – the firm that holds your money and is responsible for your positions. In a prop account, the prop firm takes this role for the simulated account.
With CFDs, these usually all come from one provider. With futures, they’re often separate, which confuses beginners.
The names you’ll hear
- NinjaTrader – a widely used futures trading platform, with desktop and web versions, which also operates its own brokerage. Popular for charting, the DOM and automated strategies.
- Tradovate – a web, desktop and mobile futures platform and brokerage, now part of the NinjaTrader group. Popular with prop firms because it runs in a browser.
- Rithmic – a data and order-routing service rather than a charting platform. Many prop firms use it. You connect it to a platform such as R Trader Pro (Rithmic’s own) or third-party platforms that support it.
- TradingView – a charting platform many beginners already use. Some futures brokers and prop firms let you trade through it by connecting your account.
Product names, ownership and which platforms each prop firm supports change from time to time. Check the platform’s and the firm’s own websites for what’s current.
Market data fees
Exchanges charge for real-time data. To see live CME prices on a real account, you’ll usually pay a monthly market data fee per exchange group, at a lower rate for non-professional traders. Some brokers and prop firms include it; others pass it on. Without it you may only see delayed prices. Count it in your costs – our True Cost Calculator has a box for monthly data and platform fees.
Choosing as a beginner
- Start on a simulator. Most futures platforms offer a free or trial simulator with live or delayed data. Practise placing, moving and cancelling orders until it’s boring.
- Learn one platform well. Switching platforms mid-way leads to order-entry mistakes.
- If you plan to take a prop challenge, check which platforms the firm supports before you invest time learning one.
- Check the order ticket defaults – contract, quantity, order type – every session. Most expensive platform mistakes are wrong quantity or wrong contract month.
See choosing a trading platform and opening a demo account.
Key takeaways
- A platform, a data feed and a broker are separate pieces with futures.
- NinjaTrader and Tradovate are platforms (and brokerages); Rithmic is a data and order-routing service.
- Real-time CME data usually carries a monthly fee.
- Learn one platform on a simulator, and check which ones your prop firm supports.
Quick check
- What does a data feed do?
- Is Rithmic a charting platform?
- Name one common costly platform mistake.
Answers: 1) Delivers exchange prices to your platform and routes your orders. 2) No – it’s a data and order-routing service you connect to a platform. 3) Wrong quantity, wrong contract month or wrong order type.
FAQs
Is a futures simulator free?
Many platforms offer a free or trial simulator. Some limit features or use delayed data.
Can I use MetaTrader for futures?
MT4 and MT5 are mainly used for forex and CFDs. Futures traders usually use futures platforms such as those above.
Disclaimer: This page is general education, not financial, investment or tax advice or a personal recommendation, and it doesn’t take your circumstances into account. Examples are hypothetical, for illustration only, and not an invitation to buy or sell. Learning to trade doesn’t guarantee profits. Past performance is not a reliable guide to future results. Futures, spread bets and CFDs are complex and carry a high risk of losing money quickly because of leverage, and most retail traders lose money. With a real futures account, losses can exceed your deposit. Only trade with money you can afford to lose, and speak to an independent FCA-authorised adviser if you’re unsure. Contract specifications, market hours and margin concepts were checked against CME Group on 18 October 2026 and can change. Read our full risk warning.