Sophisticated trading platform, excellent order execution, highly reputed broker.
Relatively higher commissions and flat fees compared to smaller online brokers.
TradeStation is a fabulous choice if you are looking for advanced technology and a super-efficient trading platform. The company is ranked on top by Barron’s. This is the online brokerage for you if you do not mind paying slightly higher charges for very reliable and well-thought out services.
TradeStation Broker Review (FX, Futures, Options, & Stocks/ETFs) - Jack of all trades, or master of all trades?
TradeStation is one of the top brands in online brokerage business in the United States and other countries. The company provides an advanced online trading platform and trading analysis to trade in forex, futures, options, stocks, and ETFs. The company, TradeStation Group, Inc. operates through its operating subsidiaries TradeStation Forex, Inc. and TradeStation Securities, Inc.
High & Impressive Stature
TradeStation Securities Inc. is a member of the New York Stock Exchange (NYSE), SIPC, FINRA, DTC, NSCC, OCC, and NFA. It is a licensed securities broker and dealer, and is registered as a Futures Commission Merchant (FCM). Its membership of the NYSE makes it one of the most transparent and accountable online brokers in the country. TradeStation Group, Inc. is a wholly owned subsidiary of the Monex Group, which ranks among the largest online financial services companies in Japan.
Award Winning Broker
Barrons 2011 has rated TradeStation as the “Best Online Broker” for the year 2011. Barron’s magazine belongs to the Dow Jones group of companies, and is one of the most reputed publications in the business. Barron’s ratings are based on a hands-on review of each online broker’s products and services in various categories.
The TradeStation online trading platform provides state of the art technology for efficient order execution. It allows the customers to design, optimize, test, monitor, and automate their stock, option, futures, and forex trading strategies. The TradeStation direct access trading platform comes in for a lot of praise from experienced users who expect top professional performance from the trading software.
TradeStation platform gives you the power to trade stocks and forex from a single window. You can even opt for automated trading, but it is recommended only if you are experienced in such type of trading. TradeStation’s back testing software and technical analysis is highly regarded by veteran traders in options and futures. The flawless order entry and execution makes it a very reliable trade product. All software tools are customizable according to your trading needs.
TradeStation offers two commission plans: flat-fee trading and commission pay per share. Flat-fee rates are slightly higher than the industry average, and the pay per share commissions are also higher than the lowest price competitors in the market. Furthermore, you will have to trade a minimum of 5,000 shares or 50 options contracts, failing which you will be charged a monthly fee of $99.95. The company also charges multiple market data fees per month, which may not be liked by small traders.
However, the trading costs with TradeStation should not be viewed in isolation. The costs are fairly competitive if viewed in comparison to other equally sophisticated and advanced online brokers. A comparison chart on TradeStation’s website shows that its costs are cheaper both in terms of commissions as well as flat-fee trading compared to E-Trade, Fidelity, OptionsXpress, Schwab, and Ameritrade.
What Others are Saying
Customer reviews speak positively about the direct access trading, customizable and flexible software tools, research and analysis support, and active online community of TradeStation. However, some customers complain about its relatively higher trading costs and a sophisticated trading platform that requires a higher learning curve for new traders.
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Company and Product Information
Reviewer has not owned or tested this product, all information contained in this review is based of research the feedback of others that may or may not have owned the product.
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