Features
  • Ranked best by Barron's 2013 for Frequent Traders
  • Direct market access for equity, options, futures, and forex trading.
  • Extensive online community of traders
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TradeStation Securities User Review Author: 28 February 2013

Overall Rating

Recommends TradeStation Securities for:

  • Active Trading
  • Penny Stock Trading

Most of the Professional traders would like to open their accounts with Tradestation. The firm is targeting very active day investors. It is popular among futures traders because of low futures commissions. TradeStation charges $35 annual IRA fee, so you should take a look to other brokerage houses before taking a go with them. Simply put, it\'s not the best choice for an individual retirement account out there. The trading platform is one of the best and is the USP, but has a steep learning curve, and is complicated for beginners. They understand the complexity of the platform and have educational material of the website. The website is informative and easily navigable.

For detailed information, browse through our detailed reviews below.

What Type of Accounts you can open with Tradestation?

Individual Account is the most popular among the traders at Tradestation. However, one thing to keep in mind is the minimum deposit required, For non-day trading accounts, it is $5,000 and for day trading accounts, it is $30,000. The list of all accounts offered by Tradestation is:

  • Individual Account
  • Joint with Right of Survivorship
  • Joint as Tenants-in-Common
  • Individual Retirement Accounts: Traditional IRA | Roth IRA | Sep IRA | Simple IRA |
  • Corporate
  • General Partnership
  • Trust
  • Limited Liability Company
  • Sole Proprietorship
  • Custodial
  • DVP/RVP: A DVP/RVP account is an equity account in which the buyer's payment for securities is due at the time of delivery.
  • Tradestation offers the following selection of investment products:

    1. Stocks
    2. Options
    3. Mutual funds
    4. Bonds
    5. Futures
    6. T-Bills
    7. OTCBB
    8. Pink Sheet Stocks
    9. Forex
    10. ETFs

    Tradestation: Fees & Commissions

    Tradestation's commission for stocks and ETF's is slightly higher than its close competitors like MB Trading. Traders can choose between Per–Share or flat-fee commissions. For per-share, Traders have to shell out 1¢ per share up to 500 shares 0.6¢ per share thereafter, this includes all ECN fees and there is no charge for unexecuted or cancelled shares. For the Flat–Fee Trading structure, traders will have to pay $6.99 per trade (for 30 or more trades/month) or $7.99 per trade (for 10 — 29 trades/month) or $9.99 per trade (for 1 — 9 trades/month), depending on the amount of trades they make. For the software based trading platform, Tradestation charges a fee of $99 per month, which can only be waived if the client has more than $1M in assets or the trading activity is at least 5,000 shares per month for stock traders and 50 contracts for the options traders.

    Tradestation Tools and Platform Performance

    Tradestation gives a large amount of their focus to their flagship trading platform. Traders who would like to watch data on more than one monitor simultaneously will appreciate the platform, allowing each one to display different sets of data. The trading paltform is considered among the best platforms in the industry.

    They offer the following trading platform:

    1. TradeStation 9.1: It is a desktop based platform and is not free to all the customers. You have to pay $99 monthly charge, which can only be waived if the client has more than $1M in assets or the trading activity is at least 5,000 shares per month for stock traders and 50 contracts for the options traders.
    2. TradeStation Web Trading: It is another powerful trading platform which traders can access through the web-browsers, which is an intuitive and easy-to-use. This platform gives you streaming real-time data and lightning-fast trade execution. Traders can trade stocks, options, futures or forex all-in-one order ticket.
    3. Mobile Trading: TradeStation Mobile helps you stay connected at all times to the market.

    Tools offered by Tradestation are:
    1. Charting
    2. Strategy Back Testing and Optimization
    3. Walk Forward Optimizer
    4. OptionStation Pro
    5. Portfolio Maestro

    Tradestation's Mobile Platform

    Tradestation Mobile is an application for smartphone, tablet, or mobile device. Traders can analyze the markets using flexible charting tools, monitor real-time quotes, track open positions, and view account balances.

    How good is their Customer Service and Support?

    The customer service is at par with the other competitive brokers in the industry especially when through phone. During our calls, the customer service for issues related with platform and technology were helpful, responsive, and generally good. The reps had no issue clearing out questions.

    Education & Training for Traders

    Tradestation, the flagship platform is a little bit complicated for the beginners. Tradestation promotes the platform and has provided rich resources on the website. You can access the resources in the "Education" section on the website. Basically, knowledge is imparted through following channels:

    1. Labs:TradeStation Labs is a team of quantitative analysts that updates the traders with market analysis, and TradeStation.
    2. University:
    3. TradeStation University is designed so that you can learn and catch up with TradeStation’s analysis and trading tools quickly and easily.
    4. Events: Traders can register for free or for-pay events and learn through face-to-face conversation.
    5. TradeStation Academic Program: The TradeStation Academic Program is a partnership between TradeStation and market gurus to provide quality material to the students in the universities and other educational institutes, all free of cost.

    Miscellaneous information about Tradestation

    Tradestation was formed as Omega Research, Inc. in 1982. Since, then the company has grown leaps and bounds diversifying into many new areas. The company has always been innovative when it comes to the trading platform. Their website boasts of a number of awards from Barron's : 2012 Best Trading Experience and Technology, 2012 Best for Frequent Traders, and 2012 Best for International Traders.

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