TradeStation – feedback and review of an interactive trading platform

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Contents

TradeStation Review 2020: Pros, Cons and How It Compares

TradeStation is a top pick for active traders due to a high-powered trading platform, $0 trade commissions and a wide range of tradable securities, including cryptocurrencies.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our Take

The bottom line: TradeStation is the gold standard for advanced, active traders, but its new offering of $0 trades is an attempt to appeal to casual investors.

on TradeStation’s website

TradeStation

on TradeStation’s website

Account Minimum
Promotion

cash credit with a qualifying deposit

Pros & Cons

High-quality trading platforms.

Commission-free stock, ETF and options trades.

Active trader community.

Free trading on advanced platform requires TS Select.

No transaction-fee-free mutual funds.

Plans and pricing can be confusing.

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Compare to Similar Brokers

Account Minimum
Account Minimum
Account Minimum
Promotion

cash credit with a qualifying deposit

Promotion

cash credit with qualifying deposit

Promotion

minimum trade cost

Best Online Brokers

Full Review

TradeStation is a top-notch choice for serious investors seeking a truly professional-level trading experience. In fact, at one time TradeStation catered solely to professional brokers and money managers. Now, regular investors have access to the firm’s high-octane tools, especially after the company recently cut trading costs to $0 and lowered the minimum investment to $0 for its new TS GO offering.

Less attractive to new investors will be the broker’s upgraded TS Select plan, which requires a $2,000 initial investment but gives access to the broker’s full suite of tools, and free trades from the powerful TradeStation 10 Desktop platform.

TradeStation is best for:

Advanced and active traders.

Stock, options and futures traders.

Where TradeStation shines

Commission-free trades: With the introduction of its TS GO and TS Select plans, TradeStation users now have commission-free trades on stocks, options and exchange-traded funds on TradeStation’s web and mobile-based platforms. One catch: TS GO users may download and use TradeStation’s marquee TradeStation 10 Desktop platform, but any trades from that platform costs $10 per trade.

TS Select customers have full access to tools and commission-free trades, plus slightly reduced costs for options and futures contracts. TS Select requires a $2,000 minimum balance, and charges slightly higher fees for options and futures contracts.

Worth noting: Free trades for TS GO and TS Select are limited to 10,000 shares per trade; higher volume traders can choose from two additional pricing plans. Here’s a complete overview of TradeStation’s pricing:

TS GO: Free trades when using TradeStation’s mobile or web-based trading platforms. Options trades are $0.50 per contract.

TS Select: TradeStation’s standard account, which includes full access and free trades through TradeStation’s desktop platform and requires a $2,000 minimum account balance. Options trades for TS Select accounts are $0.60 per contract.

Per-share and unbundled pricing: High-volume traders can opt for per-share/per-contract commissions or unbundled pricing:

Commission per share

Number of shares executed per month

Minimum commission per trade

100,000 to 1 million

1 million to 3 million

3 million to 5 million

More than 5 million

Platform and trading tools: TradeStation is best known for its impressive desktop platform, available to TS Select clients. It offers direct-market access, automatic trade execution and tools for customers to design, test, monitor and automate their custom trading strategies for stocks, options and futures. Users can customize their desktop, using a broad palette of colors to better highlight the most relevant data. Investors can test-drive new strategies in real time before putting actual money on the line with the TradeStation Simulator. (Other brokers also smartly offer virtual stock trading simulators for existing and potential customers to learn the ropes.) Options investors will appreciate free access to the OptionStation Pro platform. With its preview mode, mobile-app users can create custom watch lists, and view charts and trends without opening an account.

Traders who are not brokerage clients can subscribe to use TradeStation tools: Non-professional traders pay $99 per month, while professional traders are charged $199 per month.

Research: For access to advanced, comprehensive research, TradeStation earns high marks. More than 270 indicators are included with the TradeStation 10 platform (and many more can be downloaded or created). Investors can back-test strategies using historical market data that includes more than 90 years of daily data and decades of intraday data. Notifications alert users to upcoming earnings announcements or important market moves based on their positions.

Education and community: Educational resources at TradeStation are plentiful, with free video tutorials, articles and e-books available at TradeStation University and daily pre-market briefings and trader interviews at TradeStation Labs. TradeStation Today features real-time news, relevant tutorials and a “workspaces” section that shows how experts organize and use the platform’s array of tools. For a helping hand or a second opinion, there’s the TradeStation Trader Wiki (for tips and how-tos from other users) and discussion forums where customers can mingle with a community of similarly committed investors and bat around trading strategies and investment ideas.

Cryptocurrency trading: TradeStation Crypto was launched in November 2020 and allows users to trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). TradeStation charges 1% per trade for accounts with balances of $100,000 or less, but through March 2020 the brokerage is offering crypto trades for a discounted 0.5% commission.

Where TradeStation falls short

Mutual funds: TradeStation offers a lot of funds (more than 2,000), but none of them are no-transaction-fee funds, and fund research is also thin. However, the $14.95 mutual fund commission is in line with other mainstream brokers.

Add-on fees: Access to many of TradeStation’s features requires an additional financial outlay or subscription for those who do not meet certain account or trading minimums.

Inactivity fee: TradeStation charges an annual inactivity fee of $50 for accounts that don’t maintain an average end-of-month equity balance of $2,000 or execute at least five trades during the 12-month period following the anniversary of when the account was first funded.

Potential commission confusion: TradeStation offers a wide variety of pricing plans as noted above, but it can be difficult to navigate the company’s pricing and understand what you’ll pay.

Is TradeStation right for you?

With its three-plus decades of serving brokers, hedge funds and institutional investors — clients who are sticklers for accuracy, fast trade execution and the ability to customize charting tools to the nth degree — TradeStation has become the gold standard among hardcore traders. Active traders will appreciate the platform’s recent reboot and the fact that they have the same trading firepower at their fingertips as the pros.

Tradestation Review 2020

Summary

Recommended for traders focusing on US markets and buy-and-hold investing

Tradestation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 (cash up to $250,000) investor protection per account.

Tradestation is considered safe because it has a long track record, discloses its financials, and its parent company, the Monex Group is listed on the Tokyo stock exchange.

We selected Tradestation as Best app for stock trading for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts. Check out the complete list of winners.

Tradestation pros and cons

Tradestation’s web and mobile platforms are great, as they are user-friendly and well-designed. Stock and ETF fees are low, and lastly, the education section is high-quality and well-structured.

The deposit and withdrawal are not user-friendly and you can only use bank transfer. There is no forex trading and the customer service is of poor quality.

Pros Cons
• Great web and mobile trading platform • Not user-friendly deposit and withdrawal
• Low stock and ETF fees • No forex trading
• High-quality educational tools • Poor customer service
Tradestation main features and highlights
��️ Country of regulation USA
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $35
�� Minimum deposit $500
�� Time to open an account 1 day
�� Deposit with credit card Not available
�� Depositing with electronic wallet Not available
�� Number of base currencies supported 9
�� Demo account provided Yes
��️ Products offered Stock, ETF, Fund, Bond, Options, Futures

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Tradestation review
Fees

Tradestation has low trading fees and high non-trading fees. You can choose from multiple fee structures, but you still have to pay withdrawal.

Pros Cons
• Low trading fees • High non-trading fees
• Low stock and ETF fees • Withdrawal fee
• Multiple fee structures to choose from
Tradestation fees snapshot
Assets Fee level Fee terms
US stock Low $0.01 per share; min $1
EURUSD Not available
Mutual fund Average $14.95 per transaction
Inactivity fee Low $50 USD per year if less than 2000 USD on balance or less than 5 trades per year.

We ranked Tradestation’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Tradestation for each asset class. For example, in the case of stock investing, commissions are the most important fees.

We also compared Tradestation’s fees with those of two similar brokers we selected, Interactive Brokers and tastyworks. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Tradestation alternatives.

To have a clear overview of Tradestation, let’s start with the trading fees.

Tradestation trading fees

Tradestation trading fees are low. You can select one of three fee packages:

  • Per trade: all trades cost a fixed $5 per trade. It is recommended if you trade higher volumes.
  • Per share: the commission is $0.01 per share, but there is a minimum $1. We recommend this structure if you trade frequently but in a smaller volume.
  • Unbundled pricing: trades are priced like the ‘per share’ option. However, if you trade more than 100,000 shares a month, fees decrease gradually. It’s recommended for very high volume traders.

Stock fees and ETF fees

Tradestation has generally low stock and ETF commission.

Tradestation stock and ETF commission of a $2,000 trade

Tradestation Interactive Brokers tastyworks
US stock $1.0 $1.0 $2.5
UK stock $7.2
German stock $4.4

Commission-free trading on equities and ETFs is available for US residents if you apply for the TSgo scheme. Click here for further information.

If you prefer stock trading on margin or short sale, you should check Tradestation’s financing rates.

Financing rates or margin rate is charged when you trade on margin or short a stock. This basically means that you borrow money or stocks from your broker to trade. For this borrowed money/stock you have to pay interest. This is the financing rate. It can be a significant proportion of your trading costs.

Tradestation financing rates are high. The financing rates vary based on the base currency of your margin account.

Tradestation annual financing rates for stocks, futures and options

Tradestation Interactive Brokers tastyworks
USD margin rate 9.5% 3.4% 8.0%
GBP margin rate 1.5%
EUR margin rate 1.5%

The financing rates above are also applied for the options and futures trading.

Fund fees

Tradestation fund fees are average. It’s the same as IB’s fund fee.

Tradestation commission for a $2,000 fund purchase

Tradestation Interactive Brokers tastyworks
Mutual fund $15.0 $15.0

Bond fees

Tradestation has generally low bond fees compared to all other brokers we have reviewed. Nevertheless, they are still higher than IB’s bond fees.

Tradestation commission of a $10,000 government bond trade

Tradestation Interactive Brokers tastyworks
US Treasury bond $20.0 $5.0
EU government bond $10.0

Options fees

Tradestation options fees are average.

Tradestation stock index options commission of 10 contracts

Tradestation Interactive Brokers tastyworks
US stock index options $10.0 $7.0 $6.5
UK stock index options $20.4
German stock index options $12.1

Futures fees

Tradestation futures fees are considered low in general, but still higher than its closest peers, IB, and tastyworks.

Tradestation stock index futures commission of 10 contracts

Tradestation Interactive Brokers tastyworks
US stock index futures $15.0 $8.5 $12.5
UK stock index futures $20.4
German stock index futures $22.0

The futures commissions are based on the traded volume. The more you trade, the less commission you pay.

Tradestation futures pricing

Commission per contract $1.20 $1 $0.65 $0.45 $0.25
Monthly contracts Less than 300 301 – 1,000 1,001 – 10,000 10,001 – 20,000 More than 20,001

Non-trading fees

Tradestation has high non-trading fees as the withdrawal fee is high and inactivity fee is charged after one year. On the other hand, there is no deposit fee and account fee.

Tradestation non-trading fees

Tradestation Interactive Brokers tastyworks
Account fee No No No
Inactivity fee Yes Yes No
Deposit fee $0 $0 $0
Withdrawal fee $35 $0 $45

Tradestation inactivity fee is $50 per year if you use the per trade fee structure and

  • your balance goes below $2,000
  • you have less than 5 trades per year

The inactivity fee is $100 per month if you use the per-share fee structure and

  • you hold 10 round-turn futures and/or futures options contracts
  • your balance goes below $100,000
  • you have less than 5,000 stock or 50 options trades per month

These fees favor high volume traders.

Tradestation review
Account opening

Tradestation account opening is fully digital, user-friendly, and fast. On the other hand, the minimum deposit is $500 and multiple base currencies are only available for futures accounts.

Pros Cons
• Fast • $500 minimum deposit
• Fully digital • Multiple base currencies only for futures accounts
• User-friendly

Can you open an account?

Tradestation is a US broker, but clients from all over the world can open an account. Note that as a non-US customer you will have access to fewer products, account types, and fee structures, such as no-commission trading.

There isn’t a list of eligible countries. But, if you are not a citizen of a usually banned country, e.g. North Korea or Sudan, you will likely be able to open an account with TradeStation.

What is the minimum deposit at Tradestation?

The minimum deposit differs by account types.

  • Equities account
    • Cash account: $500 minimum deposit
    • Margin account: $2000 minimum deposit
    • Day trading account: $25,000 minimum deposit
  • Futures account has a $5,000 minimum

Account types

You can choose from a wide range of account types at Tradestation.

1. Tradestation accounts according to the products

  • An equities account gives you access to stocks, ETFs, bonds, funds, and options
  • A futures account gives you access to futures.
  • A futures options account gives access to futures options

2. Tradestation accounts according to the ownership and taxation

  • Individual – one person is the owner
  • Joint – multiple customers are the owners
  • IRA – individual retirement account (only for US clients)
  • Entity – a business entity is an owner
  • Custodial – this is for minors (from 18 to 21 years old), but an adult manages the account

You can find further information on Tradestation’s account types page.

3. Tradestation accounts according to the leverage

  • Cash account – non-leveraged and there is a $500 minimum deposit
  • Margin account – leveraged and there is a $2000 minimum deposit

How to open your account

Tradestation account opening is fully digital and user-friendly. For regulatory reasons, US brokers cannot open your account instantly. Still, Tradestation’s account opening is one of the fastest among US brokers. It usually takes 1-2 business days for your account to be approved.

To open an account at Tradestation, you have to go through the following steps.

  1. Account setup: choose the account type. You can also choose a personal account manager.
  2. Personal information: add personal information, like your address or date of birth.
  3. Employment information: provide details about your employment status and your employer.
  4. Financials and experience: answer a short questionnaire about your trading experience. You also have to estimate your annual income and net worth.
  5. Verification: verify your identity and address. For identification, driver’s license / passport / national ID are accepted. For the proof of address, you can upload a utility bill / bank statement.

Tradestation review
Deposit and withdrawal

Tradestation’s deposit and withdrawal could be better. For example, you can only use bank transfer and there is a high withdrawal fee. On the upside, the deposit is free and you can choose from multiple base currencies with a futures account.

Pros Cons
• No deposit fee • Credit/Debit card not available
• Several account base currencies • High withdrawal fee
• Slow withdrawal – over 3 days

Account base currencies

If you open an equities account, only USD is available. For futures accounts, you can choose from a great selection of base currencies: USD, EUR, GBP, AUD, CAD, HKD, SGD, CHF, and JPY.

Base currencies at Tradestation vs similar brokers

Tradestation Interactive Brokers tastyworks
Number of base currencies 9 19 1

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Tradestation deposit is free of charge. On the other hand, you can use only bank transfer. This is a bit of a letdown, but quite common at other US brokers too.

If you are from the US, you can also use checks. Additionally, if you have an equities account, you can set up an Automated Account Transfer (ACAT) to transfer cash and securities electronically from an account at another financial institution.

Tradestation deposit options

Tradestation Interactive Brokers tastyworks
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No

The bank transfer time for US clients usually takes one day, while for non-US clients it can be even 15 business days. We tested it and it took 4 business days as non-US customers.

You can only deposit money from sources which are on your name.

Tradestation withdrawal fees and options

Tradestation withdrawal costs $35 for non-US clients, while $25 for US clients. Withdrawing money can be done in the same way as making deposits, i.e. only wire transfer for non-US citizens, and checks for US citizens.

Tradestation withdrawal fees and options

Tradestation Interactive Brokers tastyworks
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $35 $0 $45

How long does it take to withdraw money from Tradestation? We tested the bank transfer withdrawal and it took more than 3 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Tradestation?

  • Log in to the Tradestation Client Center
  • Click on the ‘Transfer Funds’ tab
  • Choose your preferred method of withdrawal
  • Enter the desired amount, currency, and scheduled date
  • Preview and confirm the withdrawal request

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Tradestation review
Web trading platform

Tradestation has a good web trading platform. It is user-friendly and it looks nice, and it provides a two-step verification. On the flip side, it lacks price alerts.

Pros Cons
• User-friendly • No price alerts
• Clear fee report
• Two-step (safer) login
Tradestation platforms to choose from
Trading platform Score Available
Web 4.5 / 5 stars Yes
Mobile 4.8 / 5 stars Yes
Desktop 2.5 / 5 stars Yes

Tradestation renewed its web trading platform in 2020. It has a good design and user experience, where both first-timers and professionals can feel comfortable trading.

The web trading platform is available in English.

Look and feel

The Tradestation web trading platform is user-friendly and it has a clean design.

The platform is customizable: you can choose from 9 layout types, and you can also make your own. The tabs can be easily resized and moved around.

Login and security

Tradestation provides a safer two-step login if you want to set it up.

We recommend using it for additional security. To enable it, you have to download the Symantec VIP Access mobile app.

Search functions

Tradestation’s search function works well but it is not intuitive where you can find it. We missed a conventional ‘magnifying glass’ search field. Instead, you can search for products on the ‘Quotes’ tab.

Placing orders

Tradestation has outstanding order management.

You will find orders from the basic to the professional level:

  • Market
  • Limit
  • Stop
  • Trailing Stop
  • Order-sends-order (OSO)
  • One-cancel-the-other (OCO)
  • Bracket

To get a better understanding of these terms, read this overview of order types.

You can also choose from a variety of order terms:

  • Day
  • Good-til-cancelled (GTC)
  • Good-’til-day (GTD)
  • Immediate or cancel (IOC)
  • Fill or kill (FOK)
  • At the opening
  • At the close
  • 1/3/5 minute

Alerts and notifications

We could not find a way to set order notifications or price alerts. This feature would be useful to have in future updates.

Portfolio and fee reports

You can check your account performance and the fees you paid through the Client Center. Here, you can see your performance on the ‘Account’ tab, which clearly shows your profit/loss history and how much you paid for fees.

Tradestation review
Mobile trading platform

Tradestation’s mobile platform is great. It is very user-friendly and well-designed. You will also find all important functions, like the price alert or order management features. On the other hand, the search functions could be better.

Pros Cons
• User-friendly • Limited search functions
• Two-step (safer) login
• Good variety of order types

Tradestation mobile trading platform is available both on any iOS or Android devices. It’s only available in English.

It has very similar functions to the web platform, so we only detail what is different.

Look and feel

The Tradestation mobile trading platform is user-friendly and it has a neat design.

Login and security

Tradestation provides a safe login. You can log in using two-step verification, and then set up a biometric authentication.

Search functions

The search functions are OK. You can search by typing the symbol that you are looking for, but you cannot filter based on the asset types.

Placing orders

You can use the same order types and order terms as on the web trading platform.

Alerts and notifications

You can set price alerts and notifications on the Tradestation mobile platform. These are not available on the web.

Tradestation review
Desktop trading platform

Tradestation offers a desktop trading platform with advanced features and many customizing options. However, the platform is not user-friendly for beginners. It’s best suited for advanced traders.

Pros Cons
• Clear fee report • Not user-friendly
• Good customizability (for charts, workspace) • Poor search function
• Good variety of order types • Poor design

Tradestation’s desktop platform is so advanced and has so many functions that even a separate review would not be able to cover it all. Anyhow, we tried to provide a comprehensive summary.

At the time of the review, the desktop platform was only available for Windows and only in English.

Look and feel

Tradestation’s desktop platform is not user-friendly with an outdated look. If you are an advanced and professional user, the platform is ideal. However, if you are a first-timer or long-term investor, you can hardly take advantage of all its features.

Nevertheless, the platform has good customizability. You also can choose from pre-defined workspaces, for example, there is a day trader or a futures trader workspace.

Login and security

Similarly to the web trading platform, you can set up a safer two-step login.

Search functions

The search function is hard to use as each tab has a different search feature.

Placing orders

You can use the same order types and order terms as on the web trading platform. You can also set some advanced features, like an activation rule.

However, it is not easy to find where you can place an order. If you open the Active Trader layout, there is a tab on top, called “Trade”.

Alerts and notifications

You can set up price alerts and order notifications on the desktop trading platform. However, we were unable to figure out how to do that because of the platform’s complexity.

Portfolio and fee reports

You can see your profit/loss balances on the “Trade Manager” but you can’t see the fees you paid.

Tradestation review
Markets and products

Tradestation gives you access to a wide variety of US products, but its non-US market coverage is not competitive. Forex, CFDs and cryptos are missing.

Tradestation asset classes
Tradestation Interactive Brokers tastyworks
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No Yes No
Fund Yes Yes No
Bond Yes Yes No
Options Yes Yes Yes
Futures Yes Yes Yes
CFD No Yes No
Crypto No Yes No

Tradestation has a good US stock offer. The fund, options and futures ranges float between Interactive Brokers and tastyworks.

Stocks and ETFs

At TradeStation you can trade on the biggest US stock markets, like NYSE or NASDAQ. You cannot trade on non-US stock exchanges.

You can buy ETFs traded on the US exchanges even if you are a European client. This is quite a unique opportunity most of the European brokers do not provide.

The stock and ETF coverage is the same as tastyworks, but lags behind Interactive Brokers which covers markets all over the world.

Tradestation stock and ETF selection

Tradestation Interactive Brokers tastyworks
Stock markets (#) 11 78 15
ETFs (#) 2,200 13,000 2,200

Funds

Tradestation’s fund coverage is mid-range. On the flip side, you can find the largest names, such as BlackRock or Vanguard.

Tradestation mutual fund selection

Tradestation Interactive Brokers tastyworks
Fund providers (#) 55 257

Bonds

Tradestation doesn’t offer information about how many bonds you can trade with.

Options

At Tradestation, you can trade with options on equities and futures. The options coverage lags behind Interactive Brokers and tastyworks.

Tradestation options selection

Tradestation Interactive Brokers tastyworks
Options markets (#) 10 33 13

Futures

Tradestation gives you access to the biggest US futures markets, like CBOT or ICEUS.

The number of Tradestation futures is almost the same as tastyworks, but ranks behind Interactive Brokers which covers markets all over the world.

Tradestation futures selection

Tradestation Interactive Brokers tastyworks
Futures markets (#) 9 32 15

Cryptocurrencies

Tradestation is shortly launching cryptocurrency trading. We haven’t found any extensive information on it, but you can sign up for early access and more info here. You can also read our blogpost on crypto trading.

Tradestation review
Research

Tradestation research is great. You can use many tools, including detailed fundamental data and good quality news. On the flip side, some research tools are not free.

Pros Cons
• Good interactive chart • Many add-on research tools are not free
• Trading ideas
• Data on asset fundamentals

Trading ideas

Tradestation provides trading ideas. This is only available on the desktop platform. You will find recommendations about each asset classes written by Tradestation staff.

Fundamental data

There is a very detailed fundamental data provided by Yahoo. However, it is only available on the desktop trading platform.

You will find many data from financial statements to earning reports.

Charting

News feed

Tradestation offers a high-quality news feed. They can be found on the Market Insights and on the trading platforms.

At Market Insights, the news is categorized based on the products and sectors.

On the trading platforms, you can filter the news based on several categories, channels, and you can also search for a symbol.

Other research tools

You can access a wide range of research add-ons by Tradestation and external developers, available for the desktop platform. Some of these are free, but many of them want you to pay a pricey subscription fee.

Tradestation review
Customer service

Tradestation has an okay telephone and email support. It also provides a live chat but unfortunately, it doesn’t seem to work. Furthermore, you can contact them only on weekdays.

Pros Cons
• Phone support • No 24/7 support
• Fast response time • Live chat doesn’t work

You can contact Tradestation via:

The customer service is available only in English.

Tradestation’s telephone support is very good, as they give fast and relevant answers.

Tradestation also has a live chat function, however, it always showed up as “offline” to us. It may not be available for European customers.

The email contact was okay, we got replies within 1-2 business days, but the relevancy of the answers was mid-range.

We also missed the 24/7 availability.

Tradestation review
Education

Tradestation’s educational material is great. It offers many tools of great quality. You can use a demo account, watch educational videos, or read articles.

Pros Cons
• Demo account None
• Trading platform tutorial
• Educational videos

At Tradestation you can learn in the following ways:

  • Demo/Simulation account
  • Platform tutorial videos
  • General educational videos
  • Webinars
  • Quality educational articles
  • Booklets
  • Live events

You can use a demo or simulation account to get familiar with the platform. We think this is the best way to learn how the Tradestation trading platform works.

There are two pages where you can find the education tools:

  • Tradestation University
  • Education section within ‘Market Insights’ tab

At Tradestation University, you can watch platform tutorial and general educational videos. You can search for keywords, and filter based on your experience level.

Within this tab, you can also find some scheduled live events, although these are mainly US-based.

Tradestation review
Safety

Tradestation is regulated by top-tier US regulators, the SEC and FINRA. In addition, the parent company is listed on a stock exchange. On the flip side, negative balance protection is not provided.

Pros Cons
• Majority of clients belong to a top-tier financial authority • No negative balance protection
• High level of investor protection • Does not hold a banking license
• Parent company listed on stock exchange

Is Tradestation regulated?

Yes, it is regulated by the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA).

Tradestation is based in the USA and it was founded in 1982.

Is Tradestation safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Tradestation investor protection
Country of clients Protection amount Regulator Legal entity
All Clients $500,000 ($250,000 cash limit) Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) TradeStation Securities, Inc.

Tradestation covers all customers through one US legal entity.

This matters because you get the US investor protection amount, called SIPC. However, only clients with equities accounts are eligible for this scheme. So, if you have a futures account, you are not eligible for that.

SIPC investor protection protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. A non-U.S. citizen with Tradestation is treated by the SIPC the same as a US resident in case something goes south. The provided amount is a substantially higher amount than most European investor protection schemes.

Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual fund and other investment company shares, and other registered securities. It does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, currency, and interests in gold, silver, or other commodity futures contracts or commodity options.

On the flip side, Tradestation does not provide negative balance protection.

Background

Tradestation was established in 1982. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Furthermore, Tradestation is owned by Monex Group, a Japanese online broker. It is one of the largest online brokers in Japan and it is listed on the Japanese Stock Exchange. This is a good sign as listed companies are under more scrutiny than private companies.

Providing annual financial statements, and being regulated by FINRA are all great signs for Tradestation’s safety.

Tradestation review
Bottom line

Tradestation is a great US broker.

The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. Lastly, education is well-structured and high-quality.

On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. There is no forex trading, and the customer service is of poor quality.

Feel free to try Tradestation if you prefer trading on US markets. We recommend it for buy and hold investors with some experience.

TradeStation – trading platform overview

✅ This Trading Platform is available in Russia

Overview of the advantages and disadvantages of trading brokers: TradeStation

Most novice traders who decide to engage in the trading of financial instruments, first of all, study the information on this activity from open sources on the world wide web. Here they expect a whole range of negative comments and reviews that> 90% of brokers are ordinary scammers, and 5-7% of companies are constantly delaying payment time and looking for pretexts to refuse to fulfill their obligations on “legitimate” grounds. As the saying goes: money saved is money earned. On the other hand, if on one resource the trading platform is shown in the blackest colors, on the other, it can be described as an example of decency and reliability. In such situations, even experienced traders are starting to get lost (after all, opponents provide readers with quite convincing facts in favor of their version). A similar problem exists with the TradeStation trading platform. Having created a decent customer base and won many prestigious awards, she also acquired a huge number of envious people who are not lazy to leave negative reviews about this trading platform.

But what to do in such situations, ordinary novice traders? After all, no one wants to lose their savings, especially if it was the last money. As the hero of the famous French writer said: there is always a way out of any situation. And you need to start with the division of all indicators and characteristics into those in which you can understand and into difficult categories in which “even experienced specialists are lost”. It is impossible to “embrace everything.” A person who understands well what factors influence the rate of national currencies may not see any relationship between the growth of the automotive industry in China and the demand for metal. But first of all, you need to understand what guarantees of security are provided by the broker with whom you plan to cooperate.

Security

Considered the trading platform, despite the fact that their head office is in the US states, is a subsidiary of the Japanese company Monex Group, which became famous after the widespread online trading in 2001 (the first proof of the reliability of the broker).

The presence of applications and original platforms created for TradeStation (by the way, created by the best specialists of this service) ensures high speed of information processing, as well as the safety of personal data and personal funds of resource users.

In the registration process, the user must provide maximum information about themselves in order to prevent the infiltration of doubtful personalities (fraudsters, money launderers, creators of extraordinary “financial pyramids”, etc.).

Regulation of broker’s activity

But the most convincing evidence of the reliability and legality of the trading platform are the institutions that control its activities:

● UK Financial Supervision Authority (FCA).

● CFTC / NFA institutions controlling the activities of financial institutions in the United States.

Based on the information provided, it can be concluded that by registering a login on TradeStation, you can safely work without fear of exposure to adverse external factors.

Training

With regard to learning the principles of trade in the global financial market. Again, back to the beginning of our review. Never try to cover all the information presented at the same time! Please note that useful lessons are on the American version of the site and are designed primarily for users from the United States. But this does not mean that residents of the post-Soviet republics are isolated from valuable recommendations. The only prerequisite for learning is fluency in English.

The presented service recommends attentively studying:

● examples of effective strategies, etc.

But! Do not waste time on things that you do not understand or cause a lot of additional questions. There are areas of commercial activity where there is almost open speculation on stocks and other securities. Some companies are developing ingenious schemes in order to inflate their financial performance and make good money on it.

Interesting observations

In none country in the world, except Ukraine, Russia, Belarus and some other post-Soviet republics, there was such that the secondary metal market reacted faster than the “primary”. That is, today there is a stable situation, and tomorrow at 8.00 in the morning some uncle Kolya receives rusty pipes, bolts, nuts, washing machines, etc. from their customers, already by 5-15% cheaper, although the world market will only raise prices in a few days.

For broker clients, there is no demo account on TradeStation, which provides the opportunity to receive all the skills to work on the service without additional financial costs. This nuance is the most important flaw in the administration of the website. At the very least, so say the reviews, comments and conclusions of the experts prepared about TradeStation.

Summing up the preliminary results, it can be said that this is an interesting area of ​​activity in which each participant should monitor their segment, controlling even the most insignificant and, at first glance, unimportant events.

Why traders like to trade on TradeStation

Compliance with its promises, consistent financial policy, individual approach to each client – this is only a small list of ways to attract the attention of new users against the background of the current tough competition. What conditions does the broker offer its customers?

Trading Terms

● The minimum deposit is $ 2000.

● Transaction volume – 0.1 lot.

● Trading leverage – 1:50.

● Web resource support service – works (via website, phone, e-mail).

● Russian version – no.

Deposit / withdrawal

Studying reviews about TradeStation, many users have a question: why is this feature so limited:

1. Standard checks.

2. Transfers through financial institutions.

Of course, for Western users, this is quite a common picture, but our traders are often amazed: where there are a lot of e-wallets, Internet banking, cash, etc.

Financial assets

The question of what you can trade on the site, you know almost no boundaries. This includes stocks, stock indices, commodities, precious metals, etc.

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