TradeStation is an online broker-dealer that provides both direct-access trading and a powerful suite of tools for traders. They offer a full range of services, including stock, options, and futures trading, as well as portfolio management, margin accounts, and educational resources. With an easy-to-use platform and advanced analytical capabilities, TradeStation has become one of the most popular choices among experienced traders.
Features
1. Commission and Fees
One of the great things about TradeStation is that they offer competitive pricing. The commission rates are competitive compared to other brokerages, and they have several different fee structures available to fit your trading needs.
2. Trading Platforms
TradeStation offers a variety of trading platforms for users ranging from beginner to advanced. Their flagship platform, TradeStation Desktop, provides an easy-to-use interface for all types of traders as well as powerful analytical capabilities. They also offer mobile apps for iOS and Android devices that allow you to trade on the go.
3. Research Tools
TradeStation provides a wide range of research tools including real-time market data, charting packages, news feeds, and more. All of these tools are available to help you make informed trading decisions.
4. Customer Service
TradeStation has a dedicated customer service team that is available to answer questions and provide assistance with any technical issues you may encounter. They also offer 24/7 live chat support, which can be very helpful if you need immediate help with a trade or account issue.
5. Education
TradeStation provides a variety of resources for traders of all levels of experience. Their educational materials include webinars, tutorials, videos, and more. These resources can help you become a more knowledgeable trader and improve your trading strategies over time.
Commission and Fees
TradeStation offers $0 commission for stocks and ETF trades for all of their pricing plans. However, there are additional fees for certain features and services, such as:
- Futures trades: $1.50 per contract, per side
- Options trades: $0.60 per contract, per side + $10 base commission
- Mutual funds: $14.95 load fee
- Withdrawal fee: $35 per transaction
- Inactivity fee: $50 per year (if an account is inactive for 12 months)
It’s important to review all of the fees associated with using TradeStation before opening an account to ensure that it aligns with your investment goals and budget.
Trading Platforms
TradeStation offers a range of trading platforms designed to cater to different levels of experience and trading needs. Here are some of their standout options:
- TradeStation Platform: This is their flagship platform and is highly customizable with advanced charting tools, real-time market data, and a variety of order types.
- TradeStation Web Trading: This is a web-based platform that provides access to real-time market data, advanced charting tools, and order entry.
- TradeStation Mobile: This is their mobile app that enables you to stay connected and manage your trades and access real-time quotes, charts, and news.
- TradeStation Futures Plus: This desktop platform is specifically designed for futures traders, providing comprehensive trading tools, real-time market data, and advanced analytics.
TradeStation’s platform is highly customizable, which can be good for experienced traders who want to make the most of the platform’s features. However, it can also be overwhelming for some new traders, which is where their web-based or mobile platforms can be beneficial.
Research Tools
TradeStation offers a variety of research tools to help traders stay informed and make informed trading decisions. Here are some of the standout features:
- Real-time market data: TradeStation provides real-time market data for stocks, options, futures, and cryptocurrencies.
- News and analysis: TradeStation offers a wide range of news and analysis from reputable sources such as Reuters, Dow Jones, and more.
- Customizable watchlists: Traders can create and customize their watchlists to monitor specific stocks or other securities.
- Market radar: A comprehensive tool that provides insight into market trends, sector performance, and volume movers.
- Morning Market Briefing: A daily briefing that provides a summary of overnight market movements, upcoming earnings reports, and economic data.
All of TradeStation’s research tools are easily accessible through their trading platform, making it easy for traders to stay informed and make educated trading decisions.
Customer Service
TradeStation prides itself on providing excellent customer service to its clients. Here are some of the ways they support their customers:
- 24/7 phone support: Their customer service team is available 24/7 to assist with any questions or issues that may arise.
- Live chat support: Traders can access live chat support through the TradeStation website or mobile app.
- Email support: Traders can also contact TradeStation support via email for non-urgent inquiries.
- Community forum: TradeStation provides a community forum where traders can connect, share ideas, and ask for advice.
In addition to these support channels, TradeStation also provides a comprehensive knowledge center with tutorials, webinars, and other educational resources to help traders get the most out of their trading experience.
