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TradeStation

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LAST UPDATED: March 19th, 2021

TradeStation Group, Inc. was founded in 1982 and is currently headquartered in Plantation, Florida. TradeStation operates through its principal operating subsidiaries, TradeStation Securities, Inc., and IBFX, Inc. However, TradeStation is a wholly-owned subsidiary of Monex Group, Inc., one of the largest online financial services providers in Japan.

The TradeStation platform provides a variety of services to its customers, which include electronic order execution, allows customers to design, to test, optimize, to monitor and automate their individual custom equities, options, futures and a variety of forex trading strategies.

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The Good

  • Rates
  • Options and Features
  • Client Support

Rates

  • Stocks and ETFs — $5.00 per trade
  • Options — $0.50 per contract + $5.00 per trade
  • Futures — $1.50 per contract per side 
  • Mutual Funds — $14.95 per trade
  • Bonds — $14.95 + $5.00 per bond 

TradeStation gives you free market data and free premium tools. There are no software fees. 

Options and Features

TradeStation also provides award-winning technology, such as the TradeStation platform, TradeStation web trading, TradeStation mobile, order execution, market data and chart pattern recognition.

  • TradeStation Platform — with this feature you can take advantage of chart trading, forex trading enhancements, enhancements to the Walk-Forward Optimizer, as well as the growing EasyLanguage Class Library.
  • TradeStation Web Trading — with this feature you can trade options chains with advanced analysis capabilities, get real-time streaming quotes, place orders with ease through chart trading, instantly search for symbols, use indicators to configure charts and quotes, check positions, orders and balances and place trades with ease.
  • TradeStation Mobile — this feature allows you to use your mobile device to analyze markets, place trades and manage orders anywhere, anytime.
  • Order Execution — this feature provides reliable, lightning-fast order execution and price improvement opportunities for both individual and institutional clients.
  • Market Data — this feature will allow you to know where the market is before anyone else, help you to avoid back-testing and trading pitfalls caused by bad ticks, avoid missing a trading opportunity, connect from anywhere, test your strategies across all market cycles, test your futures strategies across years of futures data, gain access to exclusive market indices that aren't available anywhere else and experience the most detailed market depth coverage in the industry.
  • Chart Pattern Recognition Alerts — Recoginia provides daily chart pattern alerts to help you find possible trading opportunities as indicated by Rocoginia's automated analytics of the most often used chart patterns. This will enable you to make informed trading decisions based off of detailed, actionable information.

Client Support

TradeStation offers strong customer support options via phone, but the phone hours vary, depending on whether you are a retail or institutional customer and whether or not you need client services or technical support. The company also offers support via email and live chat.

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The Bad

  • Fees
  • Minimums

Fees

TradeStation has a pretty steep minimum activity fee of $99.95 per month. Equity and Futures clients' qualify for a minimum activity fee waiver, as well as free access to RadarScreen and Portfolio Maestro when your prior month's activity includes10 round-turn futures and/or futures options contracts, or 50 options contracts traded, or 5,000 shares trades, or a $100,000 account balance. 

Minimums

Pattern day trading accounts must maintain a minimum daily balance of $25,000 to avoid restrictions. This may be out of reach for most smaller investors. However, this minimum makes sense as TradeStation focuses mainly on providing advanced tools and technologies that are designed for serious traders. And again, to waive the account service fee of $99.95 per month, traders need to meet one of these trading activity minimums during the preceding month: trade 50 contracts, maintain a $100,000 balance, or trade 5,000 shares. 

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The Bottom Line

TradeStation has a good number of investing options, such as stocks, ETFs, options, futures, forex, mutual funds, and bonds and is an excellent option for serious traders with the expertise and resources to trade frequently. However, if you are just getting started in investing, the high prices and minimum requirements might not fit your situation. 

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Star Rating

1.3

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8 Reviews

Review Breakdown

5 grade

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4 grade

0%

3 grade

13%

2 grade

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1 grade

88%

Sentiment Criteria

Value

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Quality

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Samuel Tripp ,

Made a deposit one year ago from my chase account. Last week I tried to withdrawl funds back into my chase bank account. Nothing transferred. Called Tradestation for help and they told me "it shows that it was deposited". My bank says there is no evidence anything was deposited. Tradestation says "sorry there is nothing more we can do. Talk to your bank. Is there anything else we can help you with today?" They even confirmed my account number and routing number. Thank God I didn't put more money into this scam. Litterally just took All My hard earned money. Furious. Does anyone have any suggestions as to what I can do? Is there a Lawyer I can call who isn't extreemly expensive? Please someone help me.

1 year ago

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Tim Honolulu, HI

If you intend to use the Trade Station (ST) trading thru the web platform I suggest you look elsewhere. Their web platform is seriously lacking. I make most of my trades from work so I have to rely on the web platform to do my trading. TS's web platform is severely lacking. I tried to do a Double diagonal SPX spread trade and was unable to. It was also not allowed on the main platform. The web platform also does not allow you to do a close a spread order. You will have to do each side of the trade separately. Since I was unable to do close a spread order I called the Trading Desk and they confirmed it is not allowed. The indicators on the charting screen tak up as much space as the chart. Therefore if you have 2 indicators on the screen they take up more than half of the charting screen. You cannot change the font size or colors on the chart screen.

6 years ago

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Jimmy Sack Clemmons, NC

Don't rely on back testing strategies using their software. It always gives false results and different reports. It does this because it calculates at different points during each bar. This is a way to scam the customers into placing trades. For example I was stopped out three times today and the strategy optimization report says I was only stopped out once. My strategy is set to place 4 trades a bar and the optimization setting is based on ticks. This is a scam and should be reported to the Federal Trade Commission.

3 years ago

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Saeed Tajdini New Albany, IN

Waited for my application approval for weeks and weeks. Every time I contacted them, they simply said my documents were flawed and never gave specific reasons. I resubmitted and resubmitted. Sent multiple inquiries to Perry P. (my assigned TradeStation representative) and did not receive a response even once. I am not complaining that they did not approve my account application (there are tons of alternative brokers to work with). But I find their non-responsiveness and leaving me in dark for 2 month very disappointing.

4 years ago

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steve hall Belmar, NJ

Do not waste your time or money. This platform is terrible, slow and glitchy. one of the most frustrating experiences of my life. Be ready to constantly restart the program as it crashes on you and be stuck in trades as your platform glitches out on you.

4 years ago

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gemma

Failed to download the software, however they keep taking money from my bank despite assuring me the subscription has been cancelled. Terrible customer service and a scam. AVOID

3 years ago

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DAN Panama City, FL

The customer service people seem to be disgruntled and just want to get you off the phone. One just told me that a problem that the trading platform has is not going to be fixed so i should just live with it.

4 years ago