TradeStation

TradeStation Review

TradeStation is a personal, individualized trading experience that caters to active traders and investors, whether they are full- or part-time. TradeStation was founded in 1982 with the goal of reaching out to more experienced traders, but, since then, it has developed an appeal towards new traders and investors who are just starting out.

TradeStation is award-winning, as it is really a leader in trader technology. For the past six years, it has been named #1 in Platform Technology for the 2018 Online Broker Review, conducted by Stockbrokers.com. The company offers a range of tradeable assets, educational tools, and flexible pricing and low commissions for traders who want to get involved in the industry without spending an arm and a leg in commission and other nonsense fees.

Tradeable Assets

TradeStation’s tradeable assets include equities, options, futures, and forex. The options are on equity and index. The fees vary depending on what you are trading. For stocks and options, there is a $5 flat fee. For options, per contract, there is a 50 cent fee. For broker-assisted trades, the fee is $50. Comparatively, these fees are low in the industry. The trading service, though it does offer forex and futures, has really made its mark in the options and stocks world, and those are the assets where the brokerage really shines.

Account Types

There are several different types of accounts at TradeStation, including individual, joint, IRA, and entity. What’s most interesting about the service is, even if you do not want to open an account, you can still take advantage of its propritary analytics package, which includes charting, market-scanning tools, and market analysis. You can subscribe to this analytics tool without actually opening a brokerage account, something that is not too common throughout the trade industry.

Regulation

TradeStation is regulated by FINRA, the Financial Industry Regulatory Authority. TradeStation is also a member of the Securities Investor Protection Corporation (SIPC). This corporation protects customer assets of up to half a million.

Platforms

TradeStation has three platforms: web, download, and mobile. The website, which requires no download, keeps things simple. You can manage active positions, scan the markets, open orders, and do all the different trading functions required of high-level traders. The download, called TradeStation10, also known as “New TradeStation,” is a desktop platform. It is one of the best-known products from the company, and it is really sophisticated. Compared to previous versions, the 10 has bright graphics and enhanced usability. You can access pretty much any trading tool you could ever need to use with TradeStation10.

TradeStation Mobile Trading

Not to be outdone by its web and download platforms, TradeStation also has an impressive mobile trading app that has been well-reviewed by customers. The app is available to users with Android or iPhone devices. Android Tablets and Apple Watch, however, are not supported. You can view quotes, make trades, and watch the market using the app. It is basically like a mini-version of the web platform.

Promotions

If you are a military veteran, active military member, or first responder, TradeStation will give you commission-free trading. People with IRAs also can benefit from low-commissions, another trader-directed promotional. There is also an interest-sharing promotional that gives you a .40% interest credit rate on equities and a .25% interest credit rate on futures. Deposit requirements do apply.

Deposit Options

TradeStation allows you to make deposits using wire transfer, ACH, or check deposit. It is free for a wire transfer, and the money is available the next day, if on a business day. Check deposits take about three business days, and there is also no fee. ACH will take around 7 to 10 business days, but, again, there is no fee.

Withdrawal Methods

You can withdraw funds after six business days. Check, ACH, and wire are the primary withdrawal methods, and the money will be released to you in a time frame dependent on the method you chose.

Customer Support

Along with a detailed FAQ page, you can also reach customer service by phone and live chat for your issues. The phone lines vary depending on what problems you have. Client support, client services, and data integrity all have separate lines. You can also call to place a trade.

Ease of Use

TradeStation’s website is clear and concise, with bright graphics and an easy-to-read layout. Opening an account is particularly easy, with a bright orange “Open An Account” insignia on the upper righthand side of the screen. Likewise, the mobile and downloads are not difficult to maneuver; everything is labeled clearly and distinctly.

Why Trade at TradeStation

TradeStation is reputable and contains all the sleek, sharp tools that modern traders need to be successful. Of particular note is TradeStation’s download, the TradeStation10, which is the new-and-improved version of TradeStation. This download option, combined with many different assets and responsive customer service lines, makes TradeStation an excellent choice for an active trader.

To see how TradeStation ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.