TradeStation is a leading online broker that provides trading tools, technology, and support for traders who are looking to maximize their potential profits. The company has been in business since 1982 and has earned the respect of professional traders around the world. In this TradeStation review, we will take an in-depth look at what makes TradeStation such an appealing option for traders of all levels. We’ll discuss the platform’s features, fees, and customer service so you can make an informed decision about whether or not TradeStation is right for you. So let’s get started!
- Advanced Trading Platform – TradeStation offers a robust and highly functional trading platform that is designed to meet the needs of experienced traders. The platform includes an advanced charting package, a customizable watchlist, real-time data streams, and numerous trading tools.
- Variable Commission Rates – TradeStation has one of the most competitive commission rates in the industry, ranging from 0.5% to 1% depending on the type of trades you are making. This makes it a great choice for those looking to save money on their trades.
- Excellent Customer Service – TradeStation’s customer service team is knowledgeable and responsive. They offer phone support 24/7 as well as online chat and email options during regular business hours so you can get help when you need it.
- Wide Range of Products – TradeStation offers a wide range of products, including stocks, options, futures, and forex. This gives traders the flexibility to diversify their portfolios and take advantage of different markets.
- Research & Education – TradeStation provides a wealth of educational resources to help traders better understand the markets they are trading in and make informed decisions when placing trades.
Advanced Trading Platform
TradeStation’s advanced trading platform offers a wide range of powerful features to help professional traders make informed decisions and execute trades effectively. Here are some of the highlighted features:
- Customizable Charts: The platform provides traders with more than 100 technical indicators and drawing tools, giving them the ability to create highly customized charts and identify potential trading opportunities.
- Trading Automation: TradeStation offers a suite of tools for automated trading, including the ability to create customized trading strategies using EasyLanguage programming language. Additionally, users can set up automated trading alerts based on specific criteria.
- Market Scanning and Real-Time Monitoring: The platform offers powerful scanning capabilities to help traders find new trading opportunities quickly. Users can create custom scans to monitor a specific market or sector and set up real-time monitoring alerts to notify them of any changes.
- Simulated Trading and Backtesting: TradeStation provides historical market data to help users test their trading strategies, which can be done using simulated trading accounts. This feature helps traders optimize their trading before executing trades with real money.
- Options Trading and Analysis: The platform provides a range of options trading tools and supports complex options strategies. Users can access real-time options analysis and modeling tools, helping them make well-informed decisions.
Variable Commission Rates
TradeStation offers variable commission rates for different types of assets and trading volumes. Here’s a breakdown of the commission rates:
- Equities and ETFs: Under the TS Select and TS Go plans, different commission rates are depending on the number of shares traded. For TS Select, the commission rate is $0 per trade plus $0.01 per share for trades up to 10,000 shares. For trades with more than 10,000 shares, the commission rate is $0.006 per share. For TS Go, there is a flat commission rate of $0.06 per share, regardless of the number of shares traded.
- Futures: The commission rate for futures trading is $1.50 per contract, regardless of the trading volume or plan type. There are additional fees for data and exchange fees.
- Options: The commission rate for options trading depends on the number of contracts traded and the trading volume. For TS Select, the commission rate is $0 per trade plus $0.60 per contract. For trades with more than 50 contracts, the commission rate drops to $0.50 per contract. For TS Go, the commission rate is $0.50 per contract for all trades.
Excellent Customer Service
TradeStation prides itself on providing excellent customer service to its users. The company offers several ways to contact customer service, including phone, email, and live chat support through the website. The customer service team is generally responsive and helpful, providing prompt solutions to users’ inquiries and issues.
TradeStation also provides extensive educational resources, including webinars, tutorials, and a trading community, to help users learn how to use the platform effectively. The company invests in its users’ success, and it shows through the excellent customer service they provide.
Wide Range of Products
TradeStation offers a wide range of products for traders to invest in, including stocks, options, futures, and cryptocurrencies. The platform allows users to trade on a variety of exchanges, including:
- The New York Stock Exchange (NYSE)
- The NASDAQ Stock Exchange
- Intercontinental Exchange (ICE)
- The Chicago Mercantile Exchange (CME)
- The Chicago Board of Options Exchange (CBOE)
- And more
Users can trade a range of asset classes on TradeStation, including equities, ETFs, bonds, options, futures, and cryptocurrencies such as Bitcoin. The platform also offers margin accounts and cash management services. Overall, TradeStation provides a comprehensive suite of products to help users diversify their portfolios and take advantage of a range of investment opportunities.
Research & Education
TradeStation provides a range of research and education resources for its users to stay informed and make informed trading decisions. Here are some of the resources available:
- Market Insights: TradeStation provides users with daily market insights and analysis from industry experts to help them stay informed about market trends and developments.
- News and Market Data: The platform provides users with access to real-time news and market data, including stock quotes, charts, and technical analysis tools.
- Trading Academy: TradeStation’s Trading Academy offers a range of educational resources, including webinars, tutorials, and online courses to help users learn how to use the platform effectively. The Trading Academy covers a range of topics, from beginner basics to advanced trading strategies.
- Community and Forums: TradeStation has an online community and forums where users can ask questions, share trading ideas and strategies, and connect with other traders.
- Commission rate: 5
- Customer service: 5
- Product range: 5
- Research & education resources: 5