Trade Station Review

Website : Tradestation.com
Established : 1982
Country : USA
U.S. Clients Allowed : Yes

With a history dating back to 1982, TradeStation is one of the top online brokers in the world. Monex Group, an MNC based in Japan manages the broker via two separate subsidiaries.  TradeStation Securities Inc is focused on the American market and is headquartered in Florida. TradeStation International lays its focus on the European market and is headquartered in London, UK.

While the chief customer base of the broker is Institutional traders and professional traders, however the broker also caters to individual brokers and IRA retirement accounts through their retail trading services.  The instruments that TradeStation deals in are; Commodities, Forex, Futures, Mutual Funds, ETFs, Bonds, Equities and Options. Our focus will remain on TradeStation International for the purpose of this review.

PROS

  • All- encompassing Trading Education
  • Intuitive and Integrated trading platforms
  • Economical Fees
  • Well Regulated
  • An array of trading instruments

CONS

  • Weak website layout
  • No information on trading conditions

Regulations

TradeStation UK comes under the jurisdiction of FCA (Financial Conduct Authority).  MiFID’s (European Regulatory body) allows Trade Station to passport its services outside EU member states to European Economic (EEA).

For the TradeStation Securities Inc, the broker is regulated via several regulatory bodies such as – Boston Options Exchange, DTCC, FINRA, NFA, NYSE, and OCC amongst many others.

TradeStation Reliability

The broker holds a pristine record ever since its inception as Omega Research in 1980s. As of present, its portfolio includes a comprehensive spread of services. Not only is it regulated by FCA but also is a member Financial Services Compensation Scheme (FSCS) which makes the traders of the broker eligible for protection of up to 50,000 pounds for your cash and assets, in the event of the broker facing insolvency issues.

TradeStation Trading Platforms

TradeStation provides its proprietary platform in a desktop, web and mobile format. The Desktop platform enables the traders to carry out trades from the market directly and has a provision for automated trading. It also has an array of integrated tools at trader’s disposal which they can use to test their customized trading strategies for ETFs, futures and options. The navigation layout is intuitive and helps the traders make informed decisions by highlighting the relevant information.  One of the USP the broker brings to the table is the TradeStation Stimulator which enables traders to test their new strategies in a simulated virtual environment. They also gave a unique feature called “Easy Language”, this especially helps those who are not proficient in programming languages for the computer.

TradeStation Browser Based Platform

For those traders who don’t wish to download any software a direct access to the market is provided by TradeStation web-based platform. It can be accessed on any browser. It platform allows to create watch lists, manage positions, open positions and analyze the market with integration tools. What’s more? It also provides the traders with “ TradeStation Analytics”  which is a market analysis tool-set designed to monitor the markets in real time.

TradeStation Mobile Trading

The mobile app version available on IOS and Andriod would be be especially appreciated by those who have limited time and want to trade on the go. The app syncs with the online account, so that the traders have access to all the information  they need to maintain consistence in predictions and place profitable trades.

TradeStation Account Types

The broker offers only one standard account which can be used to trade in CFDs, Options, Stocks, Forex and Futures. And can be activated at a minimum deposit of $500.

TradeStation Commissions & Spreads

TradeStation Securities, unlike most brokers on the market does not charge anything on the assets traded on their platform instead charges the traders a flat fee contingent upon type of  contract the user initiates.

  • Stocks & ETFs is charged at $5 per trade
  • Options is charged at $5 per trade plus $.50 per contract

TradeStation Deposits & Withdrawals Options

At present, the broker only offers deposits or withdrawals  via bank wires or cheques through the ACH system. Deposits come with no transaction fees, however withdrawals incur some fees. For an Equities Account, a fee of $25 is charged for sending wire. For an international Account, a fee of $35 is charged for sending wires.

TradeStation Bonus & Promotions

There are several promotions types undetaken by TradeStation Securities. The traders can be rewarded for successful client referrals via a flat fee reward.  The broker also provides Mark Fee accommodation  where a trader requests the broker to raise the standard commission to include the additional value added services that the institutional traders will provide to its client base.

TradeStation Customer Support

The traders can get in touch with the customer support via email or by the telephone. Live chat is not supported by Trade Station International however is available at their US counterpart.

Conclusion

TradeStation has proven to be a reputable and reliable broker through its glitch –free long operational history. It provides robust trading platforms, quick execution and an array of trading tools to cater to experienced traders. Novice traders may find the platform bit intimidating as some product features and trading platform are a little confusing. If you’re looking for more user-friendly experience – choose E*Trade or select the one to your liking.

Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.