About Tradestation Review : In this review we will discuss what is Tradestation, its fees structure, market and product offered, research and education tools.
What is TradeStation?
TradeStation is a US based stock broker operated in 1982. It is regulated by the SEC and FINRA. It has a long operating history and discloses its financial record every financial year. Its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
TradeStation Account :
Opening an account is simple and fully digital. The base currency provided is USD only. The clients from every corner of the world can open an account in TradeStation.
What is the minimum deposit at TradeStation?
The minimum deposit is different for different types of account-
Cash account: $1
Margin account: $2000
Day Trading : $25,000
Futures account : $5000
Account Type :
TradeStation offers various types of account under various classifications:
TradeStation accounts by tradable products
- An equities account gives you access to stocks, ETFs, bonds, funds and options
- A futures account gives you access to futures
- A futures options account gives access to futures options
- A crypto account allows you to trade cryptocurrencies
TradeStation accounts by ownership and taxation
- Individual – owned by a single person
- Joint – owned by multiple clients
- IRA – individual retirement account (only for US clients)
- Entity – when the owner is a business entity
- Custodial – for minors (18 to 21 years old); an adult must manage the account
TradeStation charges low trading fees. But it has high withdrawal fees.
TradeStation offers three kinds of trade fee packages :
Per trade: It is recommended for higher volume trade
Per share: This is for traders who buy shares frequently but in small quantities.
Unbundled pricing: This option is recommended for trade in very high volume, like 100,000 shares per month.
- It charges low stock and ETF commission.
- TradeStation charges annual margin charges of 9.5%.
- It charges average fund fees.
- TradeStation stock index options commission of 10 contracts is $10.
- *Crypto fees
You are charged $50 per year inactivity fee, if you choose per trade fee structure. Whereas, inactivity fee is $149.95 per month, if you use per share fee structure.
Trading Platform :
TradeStation trade platform comes in three format :
- Web Trading Platform
- Mobile Trading application
- Desktop Trading Platform
All of the trading platforms are easy to use and are beginner friendly. They provide a safe login and clear fee report. Mobile apps are available in both Android and iOS.
However, desktop trading platforms are not very suitable for beginners. Desktop trading platforms are so advanced and have so many functions.
Products offered :
TradeStation offers a wide variety of asset types. It grants trade in stock, ETF, fund, options, futures, and crypto.
At TradeStation, you can trade the following crypto and cross pairs:
- Bitcoin (BTCUSD)
- Bitcoin Cash (BCHUSD)
- Ethereum (ETHUSD)
- Litecoin (LTCUSD)
- XRP (XRPUSD)
- Ethereum / Bitcoin (ETHBTC)
- Litecoin / Bitcoin (LTCBTC)
Customer Service :
It provides phone, live chat and email support, but that too only on weekdays. No 24/7 service is available.
Is TradeStation Safe?
TradeStation is regulated by a top tier financial institute, and its parent company is listed on Tokyo Stock Exchange. All clients of tradestation are covered by SIPC. Those who have futures account and own those assets are not covered under these scheme. As futures are highly volatile and complex instruments, these are not covered under such schemes.
|Great web and mobile trading platform||No forex trading|
|Low stock and ETF fees||Not user-friendly deposit and withdrawal|
|Multiple fee structures to choose from||Credit/Debit card not available|
|Deposit and withdrawal in cryptocurrencies||No price alerts|
|Financial information is publicly available||Many add-on research tools are not free|
The Verdict :
It is friendly and easy to use mobile and web trading platforms. It also has good quality education and research tools.
While on the other hand, deposit and withdrawal fee are not user friendly. No forex trading available. Many research tools are not available for free.
Feel free to try TradeStation as it does not charge any inactivity fee and has a good image in US stock exchange.