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LAST UPDATED: September 8th, 2022

TradeStation is an online platform that allows you to buy, sell and trade stocks, bonds, mutual funds, futures and cryptocurrencies. The company has been in business since 1982 and are well known for capabilities assisting serious stock traders. TradeStation has recently offered new incentives, for example a $0 minimum balance, to attract novices to the stock and cryptocurrency trading worlds.

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The Good

  • High-Quality Platform and Tools
  • Reliable History
  • Multi-Currency and Stocks Trading

High-Quality Platform and Tools

TradeStation offers professional-quality trading tools and online/mobile platforms for serious traders and investors. Customers receive commission free trades. There is a monthly fee to use the online platform and tools, but a $0 minimum offer for beginning traders.

Reliable History

TradeStation is regulated by the SEC and FINRA. The parent company, Monex, is on the Tokyo Stock exchange and the company has a long history (almost 40 years) with a solid reputation. Customer service is also widely praised by customers. With financial companies, these are indicators of reliability, trustworthiness, and capacity to deliver.

Multi-Currency and Stocks Trading

The company allows customers to buy, trade and sell cryptocurrency, stocks, ETFs, bonds, futures and mutual funds, with convenient access to multiple types of products on one platform.

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The Bad

  • Hidden Fees
  • Difficult Deposits and Withdrawals
  • Non-Intuitive Platform

Hidden Fees

The company only allows wire transfers, which banks charge fees to use, and take at least one to three business days to fund. Some customers will find this to be inconvenient in comparison to other options, and a bit antiquated based on today’s digital currency, with mobile money apps like Venmo, CashApp and Paypal playing a prominent role in the global economy.

Difficult Deposits and Withdrawals

In order to receive funds, customers must email a request with payment information, which is extremely inconvenient and does not reflect a secure environment in which to send payment information, like bank account numbers, or ACH information. With instant deposit available on so many platforms for a nominal rate, it is difficult to understand why TradeStation does not offer better options. 

Non Intuitive Navigation

While the platform offers a robust set of tools and capabilities, especially for professional or very experienced traders, the lack of clear navigation for beginning traders or new customers feels overwhelming or confusing if you don’t know how to get started or where to find information. Other platforms like Coinbase and eToro have a simpler user interface and adapt more easily to mobile. This may be due to TradeStation’s historic legacy in the industry, whereas Coinbase is relatively newer in the market and was built based on updated technologies and design elements.

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The Bottom Line

TradeStation is a great option for a seasoned trader who wants to get a little more serious about stocks and cryptocurrency. The company offers many resources, with a a seamless platform and a decent mobile application. For beginning traders, stick with other platforms that offer more educational information about the world of trading and allow customers to move at a slower pace without getting overwhelmed before learning the ropes.

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