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TradeStation

By on November 2, 2012
Editor’s Rating
Tools & Research
Ease of Use
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TradeStation is among the top online brokers in USA. It is a wholly owned subsidiary of Japan’s Monex Group Inc. It was founded in 1982 and is currently based out of Plantation, Florida.

Today, they offer a wide range of investment opportunities which include stocks, options, ETF’s, forex, mutual funds, bonds, futures and pink sheet stocks among others.

In this TradeStation review, I’ll cover what TradeStation has to offer, who they’re right for, and give you guys some links to the latest TradeStation promotions. If you’ve used TradeStation before, please add your own rating and review below.


TradeStation – The Basics:

Investments: Stocks, options, ETF’s, forex, mutual funds, bonds, futures and pink sheet stocks among others.
Commissions: According to the per-share pricing plan, stocks and ETF’s cost $0.01 per share for up to 500 shares, following a charge of $0.006 per share is levied. Each options contract costs $1. There are no base fees or minimums for options. Exercise and assignments cost $14.95. Each transaction in mutual funds costs $14.95. IRA accounts are charged a yearly fee of $35 and have a termination fee of $50.
Investor Education: Live webinars, seminars and workshops are regularly held to update the knowledge and skill set of the investors.
Mobile apps: iPhone

TradeStation offers great research tools combined with access to top-notch third party research reports go a long way in aiding investors. Good online support in the form of an online trader community and wiki trader pages are also good for the investors.

The customer service team can be reached via phone, mail or live chat. The client services program is accessible for 12 hours every day while technical support is available for 24 hours a day for 5 days a week.

The minimum to open an account with TradeStation is $5,000. Find out how you can trade free for 60 days + get up to $500 when you open an account.


Pros & Cons Of TradeStation:

Pros Cons
  • Great trading tools and platform
  • Trading platform is highly customizable
  • Active online trader community
  • Good educational resources
  • A huge range of investment types on offer
  • Support for automated trading
  • Annual fee of $35 charged for IRA accounts
  • Steep learning curve to get familiarized with trading platform
  • Limited mobile support
  • 24/7 customer service not available
  • Minimum of $5000 required to open an account
  • Expensive platform fees if monthly minimums are not met

How Others Rated TradeStation In 2012:

Barron’s: 4.5/5 stars (tied for #1 overall)

         Highest rated category: Research Amenities

         Lowest rated category: Costs

Smart Money: N/A (Not rated)

         Highest rated category: N/A

         Lowest rated category: N/A


Word On The Street Is…

TradeStation is not a brokerage for the technically inept. The trading platform is very good, but advanced. The true advantage that lies with the platform offered here is the high degree of customizability allowed which allows the technocratic traders to increase their own efficiency by customization.

Overall takeaway: Its pricing structure makes TradeStation a great place for tech hungry traders who like to engage in voluminous trading. TradeStation can be recommended for international trading, long-term investting, options trading and active trading.


TradeStation Promotion Code:

Hit the link below to claim the latest TradeStation promotion. Click below to claim promotion code Trade free for 60 days + get up to $500 when you open a new account. Click here to apply.

Where To Open A TradeStation Account:

Open A Personal/Joint/Custodial/Business Account With TradeStation: Apply Here

Open An IRA Account With TradeStation: Apply Here

Open A Forex Trading Account With TradeStation: Apply Here


P.S. Don’t forget, if you’ve used TradeStation before, please help us by adding your rating and review below!

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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