TradeStation Review
The Bottom Line
Overall, TradeStation is a good choice for active traders who want access to a wide range of investment products and trading tools. The fees associated with each account type are competitive, and the platform is suitable for traders with different levels of experience.
With its advanced platform, educational resources, and community of traders, the company is well-positioned to continue to be a leading player in the online brokerage space.
Highlight
TradeStation is a leading online brokerage firm that provides access through it’s operating subsidiaries to trading and analysis tools for stocks, options, futures, and cryptocurrencies. The company was founded in 1982 and is headquartered in Plantation, Florida. Over the years, TradeStation has become one of the most respected names in the industry, offering a wide range of products and services to traders of all levels.
Pros
- Commission-free trading on many stocks, ETFs, options and futures
- No minimum deposit to open a TradeStation Securities account
- Allows users to backtest and automate strategies
- Extensive educational material for novice traders and investors
Cons
- Commission-free stock and ETF trades max out at 10,000 shares
- Limited investment research for individual stocks, mutual funds, bonds, or ETFs
- Long wait times for customer service
- Platform can be technical for novices
Stocks and ETFs
TradeStation Securities provides access to thousands of stocks and ETFs on multiple exchanges worldwide. The platform offers numerous tools and features to help traders analyze and trade these securities efficiently. One of the standout features is the ability to create and backtest custom trading strategies using TradeStation’s proprietary EasyLanguage® programming language. This feature is particularly useful for active traders and quantitative analysts who want to build and automate their own trading systems.
Pricing for stocks and ETFs on TradeStation is $0 commission per trade, with no minimum account balance requirements. This makes it a great choice for traders of all levels, particularly those who trade frequently or with large volumes.
Options
TradeStation Securities provides access to over 40 different types of options contracts across multiple exchanges. The platform offers numerous tools and features to help traders analyze and trade options efficiently, including a comprehensive options chain and real-time risk analysis tools. Additionally, TradeStation provides a powerful options trading simulator that allows traders to practice and refine their strategies before risking real money.
Pricing for options on TradeStation is $0.60 per contract, with a $1.00 minimum per trade. This makes it a great choice for active options traders who want a low-cost platform with robust trading tools.
Futures and Futures Options
TradeStation Securities provides access to over 600 futures contracts across multiple exchanges. The platform offers numerous tools and features to help traders analyze and trade futures efficiently, including real-time quotes, advanced charting, and backtesting tools. Additionally, TradeStation provides a powerful futures trading simulator that allows traders to practice and refine their strategies before risking real money.
Pricing for futures and futures options on TradeStation is $1.50 per contract, with no minimum account balance requirements. This makes it a great choice for active futures traders who want a low-cost platform with robust trading tools.
Crypto
TradeStation Crypto provides access to a range of popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The platform offers numerous tools and features to help traders analyze and trade crypto efficiently, including real-time quotes and advanced charting.
Pricing for crypto on TradeStation is a bit higher than other products, with a volume-tiered fee structure. This makes it a good choice for crypto traders who want a reliable and secure platform, but it may not be the best choice for those who trade frequently or with large volumes.
Mutual Funds
TradeStation provides access to a variety of mutual funds from a range of different providers. The platform offers numerous tools and features to help traders analyze and compare mutual funds efficiently, including a comprehensive mutual fund screener and a fund comparison tool.
Pricing for mutual funds on TradeStation is $14.95 per trade, which may be higher than some other platforms. However, the platform does not charge any additional fees for loads, redemption fees, or transaction fees. This makes it a good choice for investors who want to trade mutual funds without worrying about hidden fees or charges.
Why TradeStation
One of TradeStation’s main selling points is their award-winning platform, which is known for its speed, reliability, and advanced charting capabilities. The platform provides traders with the ability to execute trades across multiple asset classes and offers a suite of analytical tools to help traders identify trends and patterns in the market.
TradeStation has received positive feedback from traders for its educational resources and trading tools. Many traders appreciate the platform’s customizability and ease of use. The company’s customer service is also highly regarded, with responsive and knowledgeable support staff available 24/7 to assist clients.
Although TradeStation’s trading simulator uses simulated currency, it is only available to customers who have funded their TradeStation brokerage account.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means. y apply.