TradeStation is an online brokerage platform that offers a powerful suite of tools for retail traders and investors. It provides access to a wide range of markets, from stocks and options to futures, forex, and cryptocurrencies. TradeStation also has strong research capabilities with real-time streaming data, news feeds, charting tools, and more. In addition to its trading platform, TradeStation offers portfolio management services for those looking to build a diversified investment portfolio.
Features
- Trading Platform: TradeStation offers a cutting-edge trading platform that supports traditional stocks, options, futures, forex, and cryptocurrencies. The platform features advanced charting tools with integrated technical analysis indicators, real-time streaming data, and customizable watch lists to monitor the markets.
- Advanced Research Tools: TradeStation provides access to powerful research tools that traders need to stay informed and make the best trading decisions. These include market news feeds, charting tools, backtesting capabilities, and more.
- Portfolio Management Services: TradeStation also offers portfolio management services for those looking to build a diversified investment portfolio. This includes advisory accounts managed by experienced strategists who design tailored investment strategies based on your goals and risk tolerance levels.
Account Types
TradeStation offers different account types depending on the type of trader you are. For active traders focusing mainly on stocks and options, there is the Core Select plan which gives access to commission-free trades with no base fees or requirements. The TS GO plan is designed for traders who focus on forex and futures, offering low spreads and commission-free trading. For those looking to invest in a diversified portfolio, there is the TS Select Plan which provides access to advisory services with no base fees or requirements.
Pricing
TradeStation’s pricing structure is based on the number of trades a client makes each month. For clients who make more than 10 trades, commissions can be as low as $0.60 per contract. However, clients who make less than 10 trades per month may find TradeStation’s pricing to be relatively expensive compared to other brokerage platforms. In addition, TradeStation charges other fees such as a monthly platform fee and data fees for real-time market data. Regardless of fees, TradeStation’s advanced features and tools make it a worthwhile investment for experienced traders who require sophisticated trading capabilities.
Customer Support
TradeStation offers top-tier customer support to assist traders. Customer support is available 24/7 through multiple channels such as phone, email, and chat to quickly resolve issues and provide solutions for traders. The customer support team is highly trained and responsive, ensuring that traders receive prompt assistance and guidance. Additionally, TradeStation also has a vast knowledge base on its website that answers frequently asked questions and provides detailed information about its products and services. Overall, TradeStation’s customer support is reliable and knowledgeable, making it easy for traders to get help when they need it.
Education
TradeStation offers a range of educational resources to help traders improve their knowledge and skills. The website includes a TradingApp® Store, which offers third-party trading apps with added features that traders can access right from their TradeStation platform.
TradeStation University is a comprehensive educational resource that caters to traders of all levels. They offer live webinars, on-demand video courses, and downloadable PDF guides to help traders understand trading strategies and techniques, as well as platform functions and analytical tools.
Overall, TradeStation provides an extensive library of education resources, making it an ideal platform for traders who want to improve their knowledge and take their trading to the next level.
Trading Platform
TradeStation’s trading platform is designed for active traders who require advanced analytical tools and rapid trade execution. The platform is highly customizable, with a variety of windows and indicators to analyze market trends and make informed trading decisions.
The platform’s charting capabilities are top-tier, providing a broad range of charts and technical analysis tools. Traders can choose from multiple order types and place trades quickly and efficiently through the platform’s simple and intuitive interface.
TradeStation offers a mobile app that allows traders to keep up-to-date with market movements and place trades while on the go. The app provides real-time market data and alerts to help traders stay informed and make informed trading decisions.
Pros
- Intuitive, feature-rich trading platform
- Comprehensive educational resources
- High-quality customer service
- Access to a wide range of markets and assets
- Advanced charting capabilities and technical analysis tools
- Real-time market data and alerts
Cons
- Trading fees can be high for some markets
- Limited portfolio management services
- Third-party trading apps are limited in number and scope
- Some features require additional fees to access
Summary
TradeStation is a powerful trading platform with advanced features and tools suitable for experienced traders. It offers access to a wide range of markets, including stocks, options, futures, forex, and cryptocurrencies. Its comprehensive trading platform includes real-time streaming data, charting tools, backtesting capabilities, and more. In addition to its trading platform, TradeStation also provides portfolio management services for those looking to build a diversified investment portfolio. TradeStation has top-tier customer support available 24/7 and offers educational resources that can help traders improve their skills. All in all, TradeStation is an excellent choice for active traders who require sophisticated trading capabilities.
- Fees: 3
- Customer Service: 5
- Platform Capabilities: 4
- Educational Resources: 5
- Portfolio Management Services: 3
