TradeStation Review

Full Service Forex Focused Discount Brokerage

TradeStation was founded in 1982 by Cuban-born brothers Bill and Ralph Cruz, who sought to create a way to design, test, optimize, and automate their own custom trading strategies. Since creation, TradeStation’s mission has been to equip individual investors with the tools and resources to fully optimize their investing philosophy. As a result, TradeStation has grown to become a security brokerage that hosts an online presence to meet their goal. TradeStation offers customers a full suite of resources to conduct fundamental and technical analysis on the stocks, indices, managed funds, fixed-income and derivatives marketplaces. As part of their offerings, TradeStation has become one of the leading discount online brokerages for foreign exchange market trading.

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Best For: 

Best for investors who want to incorporate forex with their investing philosophy.

TradeStation Highlights

  • Variety of pricing options to meet the needs of investors of all activity levels
  • -Offers value-added services including guidance tools, analysis tools and investor education tools
  • -Hosts one of the most in-depth trader communities in the industry 

Pros

  • Trades for as low as $4.99
  • Access to award winning trader community
  • Rich online education library
  • -Sophisticated trading software

Cons

  • Premium features are only available for a subscription fee
  • No proprietary fundamental research

Security Research

While TradeStation does not offer their own proprietary fundamental research, they do provide clients with access to their exceptional trading community. This forum is a great way for users to interact with each other to either generate ideas, or stress test tactics with other members of the community. TradeKing is best used as a part of an investor’s entire security research strategy.

Portfolio Guidance Tools

TradeStation delivers several tools for clients to monitor and appraise their own portfolios like professionals. Their platform enables investors to display all portfolio holdings on a single page in order to assess and manage portfolio risk. The TradeManager Analysis tool will give portfolio performance information so users can track portfolio progress against a variety of benchmarks to ensure a client’s strategy is on track to meet investing goals. These tools are great performance tracking tools for an experienced investor.  

Market Analysis Tools

TradeStation proprietary Labs feature distributes market analysis from TradeStation’s own team of quantitative analysts alongside other well-known traders and market commentators. All the offerings from TradeStation Labs focus on information and education in the areas of market knowledge, analytical techniques, and trading methods. The site hosts webinars from in-house and industry professionals on a wide range of investing topics.

Additionally TradeStation’s expert IT team developed an application allowing users to see built-in trading signals to aid investors in maximizing their trading opportunities. Their features include a radar screen, hot list, screeners, and an option stations search to back test and optimize an investor’s trading strategy.

On their trading platform, TradeStation offers users rich charting and technical analysis capabilities for a user to define themselves, as well as the ability to drag and drop open orders to respond to market movement quickly and efficiently. TradeStation offers dynamic resources for new and unique perspectives on markets and trading, making it a perfect tool for experienced investors. 

Fees 

TradeStation has several pricing models for users to choose from.

1) Per-Share Fees – Users pay $0.01/share with an even lower commission rate of $0.006 after the first 500 shares per trade. There is no additional charge on cancelled or unexecuted shares. Includes all direct routing fees; $1.00 minimum per trade.

2) Per-Trade Fees – This plan adjusts commission charges based on monthly trading volume at the following levels:

$4.99 per trade - 200 or more trades/month

$5.99 per trade - 100 – 199 trades/month

$6.99 per trade - 30 – 99 trades/month

$7.99 per trade - 10 – 29 trades/month

$9.99 per trade - 1 – 9 trades/month

Direct routing up to 1,000 shares is no additional charge, $.004 per share thereafter.

3) Unbundled Pricing – This plan is a blend of commission and flat rate pricing as described in the following table:

 

 

 

Quote Data

TradeStation supplies users with their proprietary web trading platform to enhance their trade execution experience. Investors can create multiple real-time quote lists that display up to 35 symbols, and have an advanced scanning tool that allows users to sort and rank symbols based on technical indicators at any desired bar interval. Clients can create orders in TradeStation’s test station, as well as create back-tests using historical information to analyze their trading ideas risk free. 

Conclusion

TradeStation offers its customers an exceptional trading suite of sophisticated idea-generation and analysis tools, lightning-fast order execution and an infinitely extendable, customizable platform. TradeStation also offers highly trained support and flexible and the value-based pricing that enhances the trading experience of any active trader.

About TradeStation 

 

TradeStation was founded in 1982 by Cuban-born brothers Bill and Ralph Cruz, who sought to create a way to design, test, optimize, and automate their own custom trading strategies. It has since grown to become a worldwide leader in the online brokerage industry. For their efforts, TradeStation has received countless awards from several publications, and is widely considered one of the best online discount brokerage companies.

 

 

Industry: Securities and Futures Brokerage

Founded: 1982

CEO: Salomon Sredni

Founders:  William Cruz and Rafael Cruz

Geos: International

Links to social pages:

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