Introduction to TradeStation Review
Competition is tight out there, and brokers try to outperform each other all the time. Their focuses differ, but the end goal is the same: to serve customers the best trading experience. TradeStation claims to have achieved that goal.
TradeStation markets itself as a top choice for serious traders. And by serious, we mean those that do no-nonsense trading. If you’re seeking a professional-level trading experience and you are amongst professional traders, they say this broker is for you.
Founded in 1982, TradeStation isn’t exactly a new broker in the game. Perhaps that’s precisely the reason why many people trust this broker? Let’s check it out!
TradeStation Regulation and Safety
TradeStation scores high in the level of trustworthiness for many reasons. Perhaps the biggest reason is its regulatory status: two top-tier regulators and financial authorities regulate TradeStation. It is regulated in the US as a stockbroker by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Those two are top names in the regulatory industry. In other words, if you see those two regulatory bodies, you’re almost guaranteed the broker is legit and safe. At the same time, the clients are eligible for up to $500,000 investor protection per account.
Now, if you combine this with its long track record, it’s already challenging to doubt the broker’s credibility when it comes to safety. And how about if we tell you that its parent company, Monex Group, is a publicly listed company on the Tokyo Stock Exchange.
You’d know this broker is one to consider.
TradeStation Trading Products
To list them down, TradeStation offers you the chance to trade the following instruments with them:
- Mutual Funds
- Initial Public Offerings (IPO)
Of course, for those who are eager to trade the popular US companies they see every day on the news, this is a jackpot. TradeStation offers an excellent stock trading experience.
You can also trade on the most important stock markets like the NASDAQ or the NYSE. Of course, that entails you can’t buy non-American stock exchanges.
But you can buy ETFs that are traded on US stock exchanges even if you hail from Europe. Such a feature is something most Europe-based brokers do not offer.
And if you’re not into stocks that much, there are still a lot of other choices like futures, options, bonds, and cryptocurrencies. You can even trade IPOs if you want to.
But the nagging downside to this offering is that, as you may have noticed, TradeStation doesn’t offer any forex trading service. You can’t trade currencies here. So, if you’re one who likes currency pairs, you might find the product offering incomplete.
TradeStation Trading Platforms
Based on its website, TradeStation makes trading decisions a less intimidating task. It offers trading platforms that have won awards and comes with a broad range of tools that help advanced traders analyze the markets.
And yes, you read that one word right. The platform is award-winning. Some of the awards TradeStation has won are:
- Top 5 in Best for Day Trading Investopedia award in 2019
- Best for Frequent Traders – Top 3 – Barron’s Magazine annual ranking
- TASC Awards
- Best Trading System – Stocks – 15th year in a row
- The Best Trading System – Futures – 15th year in a row
- Best Real-Tim/Delayed Data – 10th category win
- The Best Trading Centers/Schools/Training – 5th year in a row
Those and many other awards have come to TradeStation.
TradeStation’s desktop platform lets traders enter the market with a high level of confidence. It offers some impressive features, too, that go along with the charting and trading capabilities.
- RadarScreen – continuously monitors and ranks up to 1,000 symbols in real-time based on 180 customizable technical and fundamental indicators
- EasyLanguage – an easy-to-learn programming language for traders to customize technical indicators and trading strategies
- Matrix – combines detailed market depth and precise order-tracking system all in one single view
- TradingApps/TradingApps Store – more than a dozen trading apps for traders to trade more efficiently and confidently
- OptionStation Pro – a cutting-edge options analysis application to take on the task of trading options
- Simulated Trading Mode – gives the ability to design and test your trading plan, hone your trading skills, and execute simulated demo trades
You can also access TradeStation’s platform through web trading. It’s fast, simple, and highly accessible. It also contains all of the features that the TradeStation desktop app offers, so you’re not going to miss out on a lot of features.
You can trade whether you’re using a Mac or a Windows PC. You can directly check the breaking market news, place a trade, manage your position, and grow your account.
Of course, now that the world becomes more and more mobile, it would be a shame if TradeStation doesn’t offer anything for mobile.
It offers “feature-rich” apps that let traders get the benefits of TradeStation trading using their phones. With the mobile apps, you can trade on the go, get streaming quotes in real-time, analyze and trade options, access the Matrix, get mobile alerts and volume price swings, use indicators, and track your positions, orders, and balances.
FuturesPlus is TradeStation’s offering for trading futures globally just by your browser, tablet, or smartphone.
This feature is also impressive because you can trade across devices, visualize your options and futures prices, create strategies, analyze the implied volatility, identify perfect market opportunities, and manage your overall risks.
All of these trading platform features are excellent and add to the hype surrounding the broker. We think it’s just right for them to raise the bar this high given they’re among the most popular brokers for serious traders.
In other words, the platform’s features don’t disappoint.
TradeStation Account Types
Now, we head to the account types available on TradeStation. The broker has impressive number of accounts and we are going to list all of them in this TradeStation review.
TradeStation have different account offerings that they tailored fit to the needs of the traders.
Individual & Joint
- The individual and joint accounts are the most popular ones at TradeStation. It features:
- Individual – a personal broker account for individual traders with only one account owner
- Joint with Right of Survivorship – account with two owners. If one owner is removed, the remaining owner success the right to the entire account
- Joint Tenants in Common – Two or more owners with each owner owning a percentage of the account. If one owner is removed, his or her percentage goes to beneficiaries
- Custodial – for minors and managed by a guardian on the minor’s behalf
One thing that TradeStation also offers that many other brokers do not provide is the retirement account features. This broker provides different retirement accounts that fit different traders’ needs.
- Traditional IRA
- Roth IRA
- SEP IRA
- Simple IRA
When you need to take care of business, TradeStation makes sure it also gives you a choice. There are different entity accounts here, such as limited partnerships, general partnerships, corporate, trust, limited liability, and sole proprietorship.
- General Partnership
- Limited Partnership
- Limited Liability Company
- Sole Proprietorship
These accounts cover most, if not all, of the possible trader or investor needs. So, what more can you ask for?
In fact TradeStation’s trading education offerings are also highly impressive. These educational materials empower traders and let them learn through different methods.
There are different sections on the educational portion that covers specific areas. For instance, with Getting Started, you can get up to speed with TradeStation’s platform and tools. There are also “how-to” courses that let you learn the basic skills necessary to kick off your trading career.
Among other educational tools, TradeStation offers:
- Market Insights
- Market Knowledge Center
- Support Forums
- TradingApp Store
TradeStation Review Summary – Is it Good?
In fact TradeStation is a famous brand of a broker. And it owes not a single part of its popularity to mere hype. It has impressive account offerings, trading products (we do think it can offer forex trading if it wants to), trading platforms, and educational materials.
Also, the overall trading condition that those offerings create is unique, dynamic, and excellent. Of course, no one broker is perfect. The broker could use some improvement with its deposit and withdrawal systems. And if it can offer forex trading without any troubles, then it would be a perfect one.
But overall, TradeStation is a highly recommended broker both for new investors and veteran traders. It’s a worthy investment to check out this broker and see what it has to offer to you.
Is it Good?
Now I will sum up everything previously stated. TradeStation most commonly uses pricing plans of TS GO and TS Select. It offers $0 traders, includes free market data, incurs no monthly platform charges, and is easy to understand.
Arsenal tools of TradeStation include the Radar Screen. It is a real-time streaming watch list with 329 customizable columns.
Moreover, any account cash that sits idle will earn the interests of customers of 0.55% annually. You can easily withdraw money from the online brokerage with the help of clicking on links. TradeStation earned high marks, for access to comprehensive, and advanced research. With the TradeStation 10 platform, more than 270 indicators are included.
Furthermore, many more can be created or downloaded. With trader interviews at TradeStation Labs, daily pre-market briefings, free video tutorials, e-books, and articles available at TradeStation University, educational resources are plentiful. TradeStation is featuring real-time news, workspaces section, and relevant tutorials that shows how experts use the platform’s array of tools and how they organize them.
Access to many of TradeStation’s features requires a subscription or additional financial outlay for those who do not meet the minimum trading requirements.
TradeStation is charging an annual fee of inactivity of $50 for accounts that do not maintain an average end-of-month equity balance of $2,000.
Nevertheless, less attractive for new investors will be the upgraded TS Select plan of brokers. It requires an initial investment of $2,000. Nevertheless, it gives access to the full suite of tools of the broker.
As the conclusion to TradeStation review, we wish you luck if you are going to register on the website.
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