General information
TradeStation is an online broker-dealer specializing in multi-asset trading. It offers a wide range of services for clients, including trading and investing in stocks, options, futures, mutual funds, ETFs, bonds, and more. The company also provides research tools such as real-time news and pricing data, market analysis tools, streaming charts, and technical studies; education resources like webinars and seminars; account management features like customizable watchlists; and customer support via phone or chat. TradeStation has been part of the financial industry since 1982 and is regulated by the Financial Industry Regulatory Authority (FINRA).
Features and Benefits of TradeStation
TradeStation offers a comprehensive suite of trading and investing services that can be used by traders of all levels. Here are some of the key features:
| Low commissions: | TradeStation’s commission schedule is competitive with other online brokers, allowing clients to save on trading costs. |
| Advanced tools: | The company provides sophisticated trading tools such as real-time streaming quotes, advanced charting capabilities, heatmaps, and more. All of these tools can help traders improve their strategies and make better decisions. |
| Investment education: | TradeStation offers educational resources such as webinars, seminars, and tutorials to help traders understand the markets better and become more successful in their trades. |
| Customer service: | Customers have access to customer support via phone, chat, and email. |
| Mobile trading: | TradeStation has a mobile app that allows users to manage their accounts, research investments, and place trades on the go. |
Fees & Commissions
The fees and commissions charged by TradeStation depend on the type of asset you trade and the account you hold. Equity trades are $5 per trade for stocks and ETFs, with a minimum commission of $1; options trades cost an additional $0.65 per contract, and futures trades cost between $2.50–$7.50 depending on asset type and exchange fees. TradeStation also charges annual maintenance fees for accounts that have not executed at least 500 shares or 50 contracts in the previous calendar year; these fee amounts vary based on asset type but range from $75 to as much as $400 annually.
Platform & Tools
TradeStation offers its trading platform, TradeStation Desktop (TSD), which is available on both Windows and Mac computers. TSD can be used to trade stocks, options, futures, and other asset classes. It includes a suite of powerful trading tools including customizable watchlists, advanced charting with over 100 technical studies and analytics, real-time streaming news headlines and calendars, market scanner technology to scan for trades, and more.
Research & Education
TradeStation provides an array of research tools that can help investors make informed decisions when trading or investing in the markets. These include comprehensive real-time news from multiple sources, market analysis from independent experts, interactive educational content such as webinars and seminars on various topics related to trading and investing; access to detailed corporate financials; economic calendar data; streaming charts with over 100 built-in technical studies; and proprietary stock screening technology.
Comparison between other online trading platforms and TradeStation
When compared to other online trading platforms, TradeStation has some advantages. These include low commissions and fees, advanced trading tools such as real-time streaming quotes and interactive charting capabilities, access to comprehensive research resources, customer service from knowledgeable professionals via phone, chat, or email; mobile app for on-the-go trading; and educational resources such as webinars and seminars. All of these features make TradeStation a great choice for traders of all levels.
Tips for making the most of your experience with TradeStation
- Take advantage of the educational resources offered by TradeStation. These can help traders gain a better understanding of the markets and improve their trading strategies.
- Utilize the advanced tools available on the platform to scan for opportunities and analyze trends to make smarter trades.
- Use the customer service team whenever you have questions or need assistance with your account.
- Keep in mind that trading involves risk, so always practice risk management techniques such as setting stop-losses and sticking to a predetermined budget when trading.
- Finally, keep up-to-date on market news and events that could potentially affect your positions so that you can be prepared for any sudden changes in price or volatility.
Review Summary
| Pros | Cons |
|---|---|
| • Access to multiple markets, including stocks, futures, cryptocurrencies, forex, and mutual funds/ETFs | • Limited customer service (only available during US business hours) |
| • Low transaction costs | • Lack of educational resources for new traders |
| • Advanced charting tools and customization options | • No direct access to other markets, such as options and commodities |
| • Technical analysis tools for identifying patterns and trends |
Summary
TradeStation offers a comprehensive platform for both experienced and beginner traders. It features low fees, advanced tools, and comprehensive research resources to help traders make informed decisions when trading or investing in the markets. Additionally, TradeStation provides customer service via phone, chat, and email; mobile app capabilities; and educational content such as webinars and seminars. All of these features make TradeStation an ideal choice for traders of all levels. To get the most out of your experience with TradeStation, take advantage of the educational resources available on their platform, use their advanced tools to scan for opportunities and analyze trends, utilize customer service whenever you have questions or need assistance, practice risk management techniques like setting stop-losses and sticking to predetermined budgets when trading, and keep up-to-date on market news and events that could potentially affect your positions.
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