Prop Firm Data Feeds Guide
Overview
Data feeds provide the real-time market data and order routing necessary for futures trading. The most common feeds offered in prop firm environments are CQG, Rithmic, and Tradovate. Some firms also offer Trading Technologies (TT) or CTS (T4).
In prop firm setups, performance differences between data feeds are often minimized because each firm's internal risk management system adds its own layer of processing before orders reach the exchange.
CQG — Popular | All-in-One Solution
What it is: A long-established market data provider with decades of experience, connecting to 85+ global market data sources and 45+ exchanges. Offers integrated charting, analytics, and order routing.
Strengths:
- Long track record of reliability and uptime
- Comprehensive charting and analysis tools
- Good access to historical data (depth varies by connected platform)
- User-friendly interface suitable for retail traders
- Generally stable within prop firm environments
Limitations:
- Market By Price (MBP) data only — no Market By Order (MBO)
- Market depth limited to 10 levels
- Less granular order book visibility
Best suited for: Traders who value reliability, integrated charting, and simplicity over deep order flow detail. Ideal for swing traders and those newer to prop firm environments.
Rithmic — Popular | Order Flow Precision
What it is: A high-performance data and execution infrastructure known for data accuracy and low latency. Used by many professional desks and advanced retail traders for its detailed order book transparency.
Strengths:
- Market By Order (MBO) data for granular order flow analysis
- Unfiltered, tick-by-tick data stream
- Full market depth visibility
- Excellent for cumulative delta and volume profile strategies
- Robust API support for algo traders and advanced users
Limitations:
- No built-in charting (requires third-party software)
- Steeper learning curve and technical setup
- Prop firm implementations can occasionally show stability issues
- Cannot connect to multiple Rithmic prop accounts simultaneously in the same NinjaTrader instance
- Technical documentation only; limited educational materials
Best suited for: Order flow traders, scalpers, and algorithmic traders who need detailed, unfiltered data and are comfortable with technical configuration.
Tradovate — Cloud-Based | TradingView Integration
What it is: A modern, cloud-based futures trading platform that runs directly in a web browser. A CME-approved data provider with native TradingView charting integration. Widely used by prop firms such as Apex, Take Profit Trader, TradeDay, and Elite Trader Funding.
Strengths:
- Browser-based — no software installation required
- Integrated TradingView charts
- Workspaces sync seamlessly across all devices
- Supports automation via TradingView alerts and webhooks
- Growing adoption among major prop firms
Limitations:
- Newer platform with less historical track record than CQG or Rithmic
- Requires stable internet connection (fully cloud-hosted)
- Limited native order flow and footprint tools compared to Rithmic
Best suited for: Traders who prefer a browser-based experience, TradingView users, and those who trade across multiple devices. Provides a strong balance of convenience and modern functionality.
Trading Technologies (TT) — Institutional Grade | Advanced Features
What it is: A professional-grade trading platform founded in 1994, connecting to 30+ execution destinations and major global exchanges. TT's infrastructure powers many institutional trading desks, hedge funds, and some larger prop firms.
Strengths:
- Institutional-grade execution and infrastructure
- Advanced risk management and order handling tools
- Support for complex spread markets and market profile analysis
- Multi-asset trading capabilities
- Extensive analytics, audit, and compliance features
Limitations:
- Less commonly offered in retail prop firm environments
- More complex setup and steeper learning curve
- Typically higher cost outside of prop firm setups
Best suited for: Experienced traders familiar with institutional platforms or those requiring advanced order management and risk controls. More common in higher-end or institutional-style prop firms.
CTS (T4) — Niche | Fully Hosted Platform
What it is: Cunningham Trading Systems' T4 is a fully hosted professional trading platform with direct exchange connectivity. CTS maintains its own exchange connections and data center infrastructure, ensuring stable performance.
Strengths:
- Fully hosted infrastructure with high reliability
- Built-in charting and indicators
- Direct exchange connectivity
- Integrated risk management tools
- One-click trading and multiple advanced order types
Limitations:
- Limited adoption across retail prop firms
- Smaller user community and fewer learning resources
- Less visibility compared to CQG, Rithmic, or Tradovate
Best suited for: Traders at firms that specifically offer CTS access, or those who prefer a stable, fully hosted alternative to the larger providers.
How to Choose
Since most prop firms include data feed access at no extra charge, base your decision on the following:
Your Trading Style
- Order flow / scalping: Rithmic (MBO data, full-depth transparency)
- Swing / position trading: CQG or Tradovate (simplicity and charting)
- Chart-based trading: CQG or Tradovate (integrated visuals and analysis)
Platform Preference
- All-in-one desktop: CQG or Tradovate
- NinjaTrader user: Rithmic is typically preferred
- Browser-based: Tradovate
- Third-party charting (Sierra Chart, MotiveWave, etc.): Rithmic or CQG
Technical Level
- Beginner: CQG or Tradovate (user-friendly setup)
- Advanced: Rithmic (more granular data and configuration options)
- Algo trader: Rithmic (superior API access and data precision)
Compatibility Quick Reference
| Platform / Prop Firm Type | Compatible Data Feeds | Notes |
|---|---|---|
| NinjaTrader Prop Accounts | Rithmic, CQG | Cannot connect to multiple Rithmic prop accounts at once in NinjaTrader. |
| Tradovate Prop Accounts | Tradovate (native) | Uses its own cloud-based feed; integrated with TradingView. |
| TradingView (via Prop Firms) | Tradovate, CQG (via connected brokers) | Verify connection method — not all prop firms support TradingView directly. |
| TT or CTS Firms | TT, CTS | Offered by select institutional-style or niche prop firms. |
| Multi-Account Traders | CQG or Tradovate recommended | Easier to manage multiple firm connections simultaneously. |
Final Note
Before selecting a feed, confirm which options your prop firm supports — most specify the available choices during the signup process. If you plan to operate multiple accounts across firms, test connectivity early to avoid conflicts, especially with Rithmic-based setups.