Discount Trading
Discount Trading is a U.S.-registered futures introducing broker (CFTC/NFA) that provides retail and professional traders low-cost access to 20+ trading platforms and 5 routing solutions (Rithmic, CQG, Teton) across major U.S. and select EUREX futures exchanges, plus 1,100+ algorithmic systems and full API access.
- Company typePrivate
- Founded1999
- HeadquartersCrown Point, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Discount Trading does
Discount Trading is a U.S.-registered futures introducing broker (CFTC-registered, NFA member ID 0283032) founded in the late 1990s and headquartered in Crown Point, Indiana, with 11-50 employees. The firm provides retail and professional futures and options traders access to multiple exchanges — CME, CBOT, COMEX, GLOBEX, NYMEX, and select EUREX — through a curated portfolio of more than 20 third-party trading platforms and five routing solutions (Rithmic, CQG, Teton/Sierra Chart native, plus options). Technology differentiation is concentrated in a multi-routing infrastructure with documented sub-500 microsecond Teton latency and sub-1 millisecond Rithmic transmission from servers co-located at the CME Aurora Data Center, plus an integrated iSystems client portal that exposes 1,100+ algorithmic trading systems with built-in risk controls. Developer access is provided through CQG Web API, CQG FIX Connect, Rithmic R|API/R|API+/R|Protocol API, and the ATAS API.
The business model is multi-stream: primary revenue comes from per-contract futures commissions ($0.20 or less per side on micro indexes, $0.49 or less per side on standard contracts for online accounts) plus pass-through exchange, clearing, and regulatory fees, supplemented by monthly routing and platform connection fees (Rithmic $25/month, waived at 100+ round-turns; CQG Desktop $25/month; Teton with no monthly routing fee), recurring algo system license fees via iSystems, R|API access at $99.99/month, and exchange market data passthrough. Customer segments span active day traders and scalpers, algorithmic and systematic traders, order-flow/footprint traders, Sierra Chart users, commercial agriculture hedgers, spread and options traders, API/quant developers, and entry-level retail traders — served through online self-serve account opening, 24/6 phone-based inside sales, official broker partnerships with major platform vendors that act as channel partners, and the Certigo browser-based account portal. Distribution is anchored in direct online acquisition plus channel relationships with Rithmic, Sierra Chart, CQG, TradingView, MotiveWave, ATAS, TickBlaze, Quantower, MegaTrader, and Trade Navigator.
Discount Trading firmographics
Firmographics- Name
- Discount Trading
- Legal name
- DiscountTrading.com
- Website
- https://discounttrading.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Discount Trading is a U.S.-registered futures introducing broker (CFTC/NFA) that provides retail and professional traders low-cost access to 20+ trading platforms and 5 routing solutions (Rithmic, CQG, Teton) across major U.S. and select EUREX futures exchanges, plus 1,100+ algorithmic systems and full API access.
- Ownership category
- akta.pro rank
Discount Trading industry classification
Industry- Product category
- Futures Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Listed Derivatives Execution Platforms (Futures/Options) (FSAFANAD)
- akta.pro secondary industry
- Discount & Online Retail Brokerage (FSAEACAB)
Keywords
Where Discount Trading is headquartered
LocationHeadquarters
- HQ city
- Crown Point
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Discount Trading business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- Per-Contract Futures Commissions: Primary revenue stream: $0.49 or less per side on standard futures contracts and $0.20 or less per side on micro index futures for online accounts not requiring broker assistance. Broker-assisted accounts charged at different rates. Exchange, clearing, and regulatory fees are pass-through.
- Routing/Connection Fees: Monthly routing and platform connection fees. Rithmic connection is $25/month for clients trading fewer than 100 round-turn contracts per calendar month; waived for higher-volume traders. CQG Desktop is $25/month. Teton routing has no monthly API connection fees.
- Account Minimums and Funding Spreads: Account minimums: $500 Micro Account Minimum, $1,500 Standard Account Minimum. Plaid ACH and wire transfer funding supported inside MegaTrader.
- Algorithmic Trading System License Fees: Clients license rights to system signals by paying a monthly license fee for access to the 1,100+ algorithmic trading systems. Fee is deducted from account at the beginning of each month and prorated during the first month.
- API Access Fees: Rithmic R|API service is $99.99 per month for developers. Conformance testing required for paper trading API use.
- Exchange Market Data Passthrough Fees: Market data fees passed through from exchanges, billed monthly. CME/CBOT/NYMEX/COMEX Level 1 at $3/mo per exchange, Level 2 at $15.50/mo per exchange, all-markets bundle at $9/mo Level 1 or $41/mo Level 2.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Ultra-low commission futures brokerage pricing — $0.20 or less per side on micro indexes; $0.49 or less per side on all other contracts for online accounts. |
| Other | Pay-as-you-go | Account minimum tiers: $500 Micro Account Minimum, $1,500 Standard Account Minimum. |
| Subscription | Monthly | Rithmic platform is FREE; routing connection $0/mo for 100+ round-turn contracts/month, $25/mo for lower volume. |
| Subscription | Monthly | CQG Desktop platform: $25 per month (exchange data fees billed separately by exchanges). |
| Subscription | Monthly | TradingView plans billed by TradingView starting at ~$14.95/month for paid tiers. |
| Freemium | Pay-as-you-go | Teton routing: no monthly fixed routing fee and no per-transaction routing fee (industry first for direct-to-exchange routing). |
| Subscription | Monthly | Rithmic R|API service: $99.99 per month. |
| Freemium | Pay-as-you-go | TickBlaze: free for retail traders (Standard Desktop, web, mobile). Strategy Desktop and advanced features on paid plans. |
| Subscription | Monthly | MotiveWave: Free 14-day trial of Ultimate Edition. Multiple paid editions (Community Free, Standard, Order Flow, Elliott Wave Lite, Professional, Ultimate) sold as Lifetime License or Lease. |
| Subscription | Monthly | ATAS: Free 14-day trial with full features. Free base version with core charting. Paid subscription plans unlock full order flow suite. |
| Subscription | Monthly | Trade Navigator: Free edition, Gold (most popular), and Platinum tiers. 30-day money-back guarantee. |
| Subscription | Monthly | Algo trading system license fees: monthly subscription per system selected, prorated first month. |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels8 records
Discount Trading product offering
Product offeringCore offering
Discount Trading is a CFTC-registered U.S. futures and options introducing broker offering ultra-low commission futures trading with access to 20+ third-party trading platforms through multiple routing solutions (Rithmic, CQG, Teton). The brokerage serves individual and high-volume traders with self-serve and broker-assisted execution, day-trading margin as low as $40 per contract, and API connectivity for algorithmic and automated strategies. It also distributes access to 1,100+ professionally developed algorithmic systems via the iSystems client portal with built-in risk controls.
Product overview
Discount Trading operates a single unified futures brokerage offering built on a platform-plus-modules architecture. The core Discount Trading Futures Brokerage provides low-cost commission rates, broker-assisted and managed services, API and FIX access, and colocation, while the broader product portfolio extends to over 25 supported third-party trading platforms and routing solutions — including flagship Rithmic platforms (R|Trader Pro, R|Trader, Rithmic Web, Rithmic Mobile), CQG platforms (CQG Desktop, CQG One, CQG QTrader, CQG Integrated Client, CQG Spreader, CQG Mobile), TradingView, ATAS, TickBlaze, MotiveWave, MegaTrader, Trade Navigator, and Sierra Chart. Order routing is delivered through Teton, CQG, and Rithmic, and an automated trading systems service exposes 1,100+ algos via iSystems with full client-portal control. Developer access is provided through the CQG Web API, CQG FIX Connect, Rithmic R|API, R|API+, R|Protocol API, and the ATAS API. Together these modules give Discount Trading clients choice of execution venue, charting and order-flow tooling, algorithmic strategy deployment, and programmatic trading under a single brokerage account.
Differentiator
Problem solved
Functional benefit
Products and services
- Discount Trading Futures Brokerage Account
- iSystems Automated Trading Systems (1,100+ Algos)
- Teton Order Routing
- Rithmic Order Routing
- CQG Order Routing
- Rithmic R|API Developer Access
Quantifiable outcome
- $0.20 or less per side on micro index futures commissions
- +7 more outcomes
Companies that use Discount Trading
Customer profileSegments9 records
Ideal customer profiles6 records
Discount Trading technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration34 records
AI capability4 records
Feature5 records
Discount Trading partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered flagship / core routing partner, core routing partner, core platform partner, major platform partner, core platform partner (flagship), core platform partner for algorithmic trading and operational integration partner.
- Rithmicflagship / core routing partnerDiscount Trading is an Official Rithmic Broker. Partnership gives clients free R|Trader and R|Trader Pro, ultra-low day trading margins ($500 E-Mini, $50 E-Micro), low-latency co-located routing at CME Aurora Data Center, R|API / R|API+ / R|Protocol API access, and plug-in support across 18+ third-party platforms.
- CQGcore routing partnerDiscount Trading provides direct access to CQG's order routing infrastructure — co-located Hosted Exchange Gateways, Gateway 5.0 microsecond routing, 75+ data sources consolidated. CQG Desktop ($25/mo), CQG One, CQG QTrader, CQG Integrated Client, CQG Mobile, and CQG API/FIX Connect are supported.
- Sierra Chart (Teton Order Routing)core routing partnerDiscount Trading is the Official Sierra Chart Broker supporting Teton Order Routing — Sierra Chart's native routing built in-house. Teton provides direct-to-exchange connectivity, sub-500μs latency, no monthly routing fees, server-side OCO/brackets, and integration with the Denali data feed.
- Genesis Financial Technologies (Trade Navigator)core platform partnerDiscount Trading is a Trade Navigator broker routing orders through Rithmic or CQG. Provides low day trading margins, support for TradeSense proprietary trading language, System Navigator backtesting, and 30-day money-back guarantee on subscriptions.
- Quantowermajor platform partnerQuantower leader in visual tools and analytics for the professional futures trader, featuring multi-dimensional DOM surface heat map. Rithmic-compatible. Discount Trading provides routing, commissions, and support for Quantower users.
- MegaTradercore platform partner (flagship)Discount Trading's all-in-one free futures platform — trading, charting with 300+ indicators, DOM order entry, integrated ACH funding, and account management from one login. Web, iOS, and Android supported.
- TradingViewmajor platform partnerFree TradingView platform with advanced charts, DOM, and volume profile. Works on any modern browser and OS. Discount Trading supports live futures trading through TradingView with CME, CBOT, NYMEX, COMEX data. TradingView paid plans start around $14.95/month.
- ATASmajor platform partnerProfessional order flow and footprint chart platform with 400+ footprint chart variations, Smart DOM, volume profile, Smart Tape, market replay, and cluster analysis. Rithmic-compatible. Discount Trading will cover the cost of ATAS subscription for qualifying high-volume traders.
- TickBlazemajor platform partnerHybrid institutional-grade trading platform with four integrated platforms (Standard Desktop, Strategy Desktop, Web, Mobile) supporting C# and Python strategies, TradingView charting, footprint charts, and 70+ performance metrics for portfolio backtesting. Rithmic-compatible.
- MotiveWavemajor platform partnerAdvanced charting, Elliott Wave, and order flow tools. Native support for Mac, Windows, and Linux. Editions: Community (Free), Standard, Order Flow, Elliott Wave Lite, Professional, Ultimate. 14-day free trial. Active traders can qualify to have MotiveWave platform costs covered through Discount Trading account.
- iSystems (Algo Systems Platform)core platform partner for algorithmic tradingDiscount Trading integrates iSystems to provide clients access to 1,100+ professionally developed algorithmic trading systems via discounttrading.isystems.com. Full client portal control — start, stop, switch systems at any time. Forward and back tested with commissions and fees factored in; auto risk management deactivates systems if account balance drops below required minimum.
- Plaid (ACH Funding)operational integration partnerPlaid ACH integration supports account funding and withdrawals across MegaTrader and account onboarding flow. Wire transfer and check are also accepted.
- Certigo (Ironbeam Trading Portal)operational integration partnerBrowser-based account management portal at trading.certigo.com (and secure.ironbeam.com for live account opening). Provides account viewing, positions, margin, statements, and the new account application.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Discount Trading competitors and assessment
Company assessmentDirect peers
- NinjaTrader: NinjaTrader is a retail futures broker and platform provider offering commission rates, multi-broker integration, and a popular desktop trading platform. It directly competes with Discount Trading in the discount retail futures brokerage category with overlapping platform-ecosystem and low-commission positioning.
- AMP Futures: AMP Futures is a US-registered introducing broker offering ultra-low futures commissions, multiple platform integrations (Sierra Chart, Quantower, MultiCharts, etc.), and MetaTrader-derived tools. It is the closest head-to-head competitor to Discount Trading in the discount futures introducing broker category.
- Optimus Futures: Optimus Futures is a US-based futures introducing broker offering low commissions, multiple trading platforms (Sierra Chart, Rithmic, MultiCharts, ATAS, etc.), and free platform bundles for active traders. Comparable to Discount Trading on platform breadth, low-cost positioning, and small-team IB structure.
- Tradovate: Tradovate is a futures broker and proprietary web/mobile trading platform offering low commissions and free platform access. It competes directly with Discount Trading on commission pricing and platform choice, with stronger in-house platform technology.
- Ironbeam: Ironbeam is a US-registered futures broker (the FCM behind Discount Trading's Certigo account portal) offering futures brokerage, market data, and trading platforms. Comparable in customer-facing brokerage services and exchange access; potential FCM/IB partner overlap.
Broad incumbents
- Interactive Brokers: Interactive Brokers is a large, publicly traded global broker offering futures, options, equities, FX, and fixed income with very low commissions and institutional-grade platform technology. It competes with Discount Trading in retail futures on price and platform quality but with vastly broader product breadth and capitalization.
- Wedbush Futures: Wedbush is a US-registered futures broker (FCM) offering retail and institutional futures clearing, market data, and execution services. Comparable in futures brokerage services but larger and broader in product offering (equities, fixed income) than Discount Trading.
Regional players
- WH SelfInvest: WH SelfInvest is a European-headquartered broker offering futures, options, CFDs, and FX with competitive commissions and the NanoTrader platform. Comparable on commission-focused retail futures brokerage but primarily serves European customers rather than the US market where Discount Trading operates.
Others
- CQG: CQG is a routing, market data, and trading platform provider whose infrastructure Discount Trading licenses and resells to its clients. CQG is a key technology partner and a partial peer in offering CQG-branded trading products, but it primarily serves brokers rather than competing as a retail-facing broker itself.
- Rithmic: Rithmic is a futures order routing and market data infrastructure provider whose R|Trader Pro, R|API, and R|Protocol offerings Discount Trading distributes to clients. Comparable technology ecosystem to Discount Trading's platform stack but operates upstream as a B2B infrastructure vendor rather than as a competing retail broker.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Discount Trading social profiles
Digital presenceDiscount Trading compliance and trust
Trust signalCompliance2 records
Discount Trading financial estimates
Financial estimateRevenue estimate
Valuation estimate
Discount Trading leadership team
Management profileNumber of profiles
Profiles1 record
Discount Trading funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Discount Trading M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Discount Trading
What does Discount Trading do?
Discount Trading is a CFTC-registered U.S. futures and options introducing broker offering ultra-low commission futures trading with access to 20+ third-party trading platforms through multiple routing solutions (Rithmic, CQG, Teton). The brokerage serves individual and high-volume traders with self-serve and broker-assisted execution, day-trading margin as low as $40 per contract, and API connectivity for algorithmic and automated strategies. It also distributes access to 1,100+ professionally developed algorithmic systems via the iSystems client portal with built-in risk controls.
Is Discount Trading a public or private company?
Discount Trading is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Discount Trading founded?
Discount Trading was founded in 1999. It employs 11 to 50 people.
Where is Discount Trading based?
Discount Trading is headquartered in Crown Point, United States, in the North America region.
How does Discount Trading make money?
Six revenue lines are on record. Per-Contract Futures Commissions are the primary driver. The others are routing/Connection Fees, account Minimums and Funding Spreads, algorithmic Trading System License Fees, API Access Fees and exchange Market Data Passthrough Fees.
Who are Discount Trading's main competitors?
Direct peers on record are NinjaTrader, AMP Futures, Optimus Futures, Tradovate and Ironbeam. Broad incumbents are Interactive Brokers and Wedbush Futures. WH SelfInvest is listed as a regional player. Others are CQG and Rithmic.
Does Discount Trading have an API?
Yes. Discount Trading offers multiple APIs through its supported routing and platform partners, including CQG Web API (WebSockets + Google Protocol Buffers for market data and order routing), CQG FIX Connect (FIX protocol for institutional clients), Rithmic R|API (C++ and .NET libraries for Windows, macOS, Linux providing full market data, order management, and execution reports), Rithmic R|API+ (additional capabilities), Rithmic R|Protocol API (WebSockets + Google Protocol Buffers for mobile/web applications in any language/OS), and the ATAS API (for building custom indicators and automated strategies). Sample code is available in Python, C#, Java, and other languages. R|API access is priced at $99.99 per month and requires conformance testing before live paper trading access.
What industry is Discount Trading in?
Discount Trading's product category is Futures Brokerage. Its primary akta.pro industry code is FSAFANAD, Listed Derivatives Execution Platforms (Futures/Options), with a secondary code of FSAEACAB, Discount & Online Retail Brokerage. Its NAICS code is 5231 and its SIC code is 6200.