Fri, January 27, 2023

TradeStation Launches Zero-Fees in TS SELECT

The trading platform reported 21,052 new account openings in January.

TradeStation Securities, Inc., announced its new product, TS SELECT, last Wednesday. TS SELECT is a pricing plan offering free commissions on the web or mobile platforms.

The solution gives investors fees on their desktop platform.

Clients can open a TS SELECT account that allows them to trade stocks, options, equities, equity options, and futures. However, these accounts are only available in the US.

Meanwhile, the US expansion of the Japanese financial service Monex Group reduced brokerage fees to zero on stocks, options, and exchange-traded funds.

President of the TradeStation Group, John Bartleman, said TS SELECT provides a “valuable alternative designed for the advanced trader.” The app has a more sophisticated set of tools and services that boosts finances with free web or mobile commissions.

Bartleman explained the company’s “longstanding commitment” that offers customers fair and competitive pricing. TS SELECT contributes to this with pricing plans that can tailor to clients’ trading profile and objectives.

Q1 Fiscal Results for TradeStation

TradeStation’s parent company, Monex Group, posted results for their first-quarter financial results with a downturn in its Japanese subsidiary.

The Group’s total revenue dropped 4.3% against the first quarter of fiscal 2019 at ¥13.2 billion for 2020. Last year, the reported total revenue was at ¥13.8 billion.

Total expenses fell from ¥12.7 billion in the first quarter of 2019, while next year’s figure went down ¥12.0 billion. The fall was 5.2%.

Profit plummeted year-on-year by 31% with ¥804 million and ¥1.2 billion for 2020 and 2019, respectively.

TradeStation, however, reported 93,185 active accounts for the quarter as the best quarterly result in 2019 and 2020 yet.

Operating revenue was $53.9 million, increasing by 7.5% year-on-year.

Monex, Inc, TradeStation’s sister company, wasn’t so lucky. The Japanese retail broker’s operating revenue for the period fell by 12.9% at ¥6.8 billion from ¥7.7 billion.

Another notable loss from the sister company is its lowest number of active accounts since last year. In 1,825,215 accounts, only 1,056,681 were active.

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