TradeStation Review and Tutorials 2020

A brief history

early history

TradeStation is the brainchild of two brothers, William and Rafael Cruz. They brought the company to life because they wanted a way to design, test, optimize and automate their own trading strategies.

TradeStation Group, Inc. is actually the parent company of an online securities and futures brokerage firm. Our headquarters is in Florida. However, the company currently has office locations and addresses around the world as follows:

• Chicago
• New York
• Richardson
• Sydney
• London
• Costa Rica

Between 1997 and 2011, we found the TradeStation group as a company registered with the Nasdaq GS. However, the acquisition of Monex Group, a Tokyo Stock Exchange-listed company, marks a new beginning.

Recent years

In recent years, the company has garnered attention in numerous countries, from the US and Canada to Europe and Australia. As a result of this international success, TradeStation has won numerous awards including:

• 2013 – TradeStation was named ‘Top Five’ Online Broker by Investor’s Business Daily for the second consecutive year. Additionally, Barron’s has been named ‘Best Trader to Best Trader’ for three consecutive years.
• 2014 – The broker entered the Korean and Chinese markets after signing a licensing agreement with Shinhan Investment Corp. We also launched a TradingApp store with hundreds of custom products from third parties. In the same year, TradeStation was rated the ‘Best Trading System’ in Equity & Commodity Magazine Technical Analysis for the 10th consecutive year.
• 2015 – TradeStation was again voted ‘Best Trader Trader’ and ‘International Trader Trader’ again by Barron’s. Technical Analysis by Equity & Commodity Magazine named ‘Best Trading System’.

It is clear that the developers and CEO have made several updates over the past few years to entice traders. Its net worth is likely to grow further if it continues to support more casual investors.

Minimum initial deposit

The original TradeStation is geared towards advanced professional investors who need stock trading accounts up to $5,000. However, the company has changed their pricing structure and now you can open an account using

• $500 for stock trading accounts
• Minimum $5,000 futures account
• Minimum $2,000 account size for options trading
• $30,000 for stock and options pattern daily trader account

It may still sound high-pitched, but advanced trading tools are available. So, in terms of value, TradeStation can boast lower fees and minimum deposit requirements than other exchanges.

Spreads and Commissions

TradeStation charges a simple fee compared to other brokers. For stocks, we use three structures.

• per week
• Flat rate
• Not bundled

As an option, TradeStation uses weekly and flat rates. The most popular pricing structure is the latter. It’s $5 for stock trades and $5 + $0.50 for options trades. Reviews of these fees are relatively positive, as basic real-time market data is provided free of charge. There is no account service fee of $99.95 per month unless you reach the minimum activity level. As a result, this is the most cost-effective option for non-professional traders.

Benefit

If you choose a margin account, you can borrow capital from TradeStation to increase your position size (buying power). Margin trading can help increase your profits, but it has its downsides. For example, you risk losing more than margin calls and initial deposits.

Please refer to the official website for margin rates according to equipment and account type.

Other trading fees

User reviews have praised the TradeStation for no hidden charges that can seriously reduce returns throughout the day. Of course, there are industry standard brokerage and platform fees such as:

• $125 wire transfer fee
• $35 IRA annual fee
• $50 IRA account closure fee
• Inactivity fee of $50 per year for equity accounts that do not make 5 trades per year or have an average monthly account balance of $2,000
• Monthly data charges range from $1 to $150 for different indices depending on account type.

Overall, TradeStation’s stock and options fees are heading towards some of the best in the industry. Gift prices and requirements can also feel expensive. However, as shown below, TradeStation can justify these costs as it offers far more comprehensive and in-depth services than many other brokers.

TradeStation offers unique special offers and promotions. For example, active military and veterans alike can join the TradeStation Salutes program. This gives you access to completely free stock, ETF, and options trading. It also offers all the standard benefits that come with a standard flat-rate account, such as zero platform fees and a free underlying market data feed.

It’s also worth keeping an eye on the official website for current subscription offers, referral plans, and other promotions.

Trading platforms

web trading platform

Those who do not have the hardware system requirements for a desktop download can use our web trading tools with just an internet connection. Access streaming real-time data and fast execution speeds.

Additionally, a secure connection is guaranteed when accessed from a Mac, Linux or PC web browser. Overall web trading reviews were positive, but noted that more experienced traders would want the desktop platform’s comprehensive features.

Desktop platform

While software reviews of 9.5 downloads were popular, TradeStation 10 was a new and improved platform. The main features of the platform are:

• Custom charts
• Automated Strategy Trading
• Impressive execution speed
• Quick Market Search Tool
• Volume and market profile
• Advanced order entry and management
• Market depth window to track the activity of a specific market maker

Therefore, users have a wide range of functions and a wide range of functions. Of course, you also get all the useful basics like news feeds, email alerts and direct chart trading features. Trailing stops, backtesting strategies, and tracking cryptocurrencies of interest are also very simple. You can also create your own indicators using TradeStation’s Easy language, a tutorial that can be found in online trading academies.

In particular, TradeStation.com’s backtesting reviews are positive compared to multiple charts. This means traders can test and play strategies with real data before risking their own capital.

Overall, the desktop platform is the best in the industry, including Metatrader.

 

 

TradeStation mobile app

According to mobile app reviews, users are mostly satisfied with TradeStation’s products. You can get iOS and Android trading apps from their respective app stores.

When you log in, you get watchlists, real-time quotes, and customization features. The interface is clean as the data displayed is kept to a minimum. Drawing tools, futures data, symbol lists and lookups are also easily accessible. You can also set useful text notifications within the app.

In 2017, Matrix was added to iPhone and Android apps. This tool is a ladder trading tool that allows you to buy and sell with one click from the live trader 2 quote window. Limit trading is especially useful for daily trading where a penny per share matters. Level 2 data is not part of the free package and costs $11 per month.

Besides that, you have the following benefits:

• 20 options indicator
• Out of hours visibility
• Trading tutorials and tips
• All chart types including Heikin-Ashi and renko bars

The main drawback is the limited set of indicators. 20 is well below competitors like NinjaTrader. It is also not possible to compare the performance of multiple securities at once.

Overall, our iPad and Android app reviews have been what TradeStation has to offer. Apps transition seamlessly from desktop-based applications. We provide all the basic tools you need to make money.

Payment methods

Before you start trading or speculating in FX on Bitcoin (BTC), you need funds in your account. Fortunately, deposits and withdrawals can be done in several ways:

• Check
• Wire transfer
• Online bank transfer

For more information on fund transfers, debit cards and wire transfers, please visit our official website.

Demo account

Customer reviews from Forex, stocks and options traders are quick to point out the downsides with TradeStation’s free demo account downloads. Mainly, no such practice account exists. Instead, virtual trading is only available after you have funded your account.

As already said, simulated accounts are great. For example, once you have completed downloading and logging into the platform, you will have access to almost the same functionality as the live trader. It’s the perfect place to fine-tune your strategy. You can also reset your simulation account by contacting TradeStation.

However, the fact that there is no free trial option for public use can seriously deter novice traders. This means there is no way for potential customers to test-drive the platform. Your only option is to watch a demo video, which doesn’t give many customers enough of a platform feel.

However, TradeStation has a 60-day free trial download, so we recommend keeping an eye on the official website.

Additional TradeStation features

Education

Stocks and forex reviews rarely use these extensive additional resources. First, TradeStation University has a wealth of educational resources, from new platform training to helpful webinars. There’s even a manual PDF to make installation and getting started a breeze. You can also find instruction manuals and e-books when heading to the customer center, so you can get up and running right away. Finally, TradeStation Labs helps you apply your new trading knowledge.

WebAPI

The application programming interface WebAPI helps run numerous applications. It also means that third-party developers can write and integrate applications using any programming language that writes and receives HTTP requests and responses.

Automated trading

It’s no secret that a huge number of users now take advantage of the features of genetic algorithm trading. Automation allows you to open and close far more trades than you could manually. Implementing on TradeStation is also simple. you simply:

• Activate chart analysis window with strategy.
• Select a strategy where the display is ‘on’.
• In the automation, press Create Strategy Orders to display in TradeManager’s Strategy Orders tab.
• Click the Autorun checkbox using account [account number] with confirmation.
• Click I Agree.
• Make sure the information is correct, then click Close to apply the changes.

Automated trade reviews rate TradeStation’s services highly. It’s simple and quick to set up. However, high frequency trading is not a shortcut to wealth. You still need to carefully monitor your strategy.

Radar screen

You can access the RadarScreen feature as part of your platform software download. Instead of scrolling through historical options data and penny stock quotes, you can easily identify potential opportunities. You can also customize your scanner according to charts and market trends.

Hotlists

This helps flag any unusual activity. Over 100 hotlists help identify ticker indices and futures symbols that could break the 52-week high. For example, you can immediately see the gap go up when the Bitcoin futures symbol is released.

Easy language

Forget API Python, EasyLanguage features allow you to create custom analysis tools and strategies. You can build and change indicators within your trading platform. Ideal for traders with minimal coding knowledge.

Regulation and license

User forums show demand for a reliable and regulated broker. Fortunately, TradeStation is the most famous online broker in the world. The brokerage is registered with the SEC and has good relations with FIRA.

Users can relax with the knowledge that their account can protect them in various scenarios such as bankruptcy or failure. That’s because TradeStation is a member of the Securities Investor Protection Corporation (SIPC). So the account is insured up to $500,000 including $250,000 in cash.

Benefits

Here are some reasons prospective traders should consider TradeStation.

• Accessibility – TradeStation is constantly improving global accessibility and community. Non-US citizens from the UK, Germany, India, Japan, Israel and the USA are welcome.
• EasyLanguage – Blogs and forums are quick to highlight how fantastic the Easy Language system is for traders with little experience writing code who want third-party development. Also, there are various Easy Language manuals and examples to help you.
• Powerful Platform – After a platform overhaul, the TradeStation 10 platform promises traders all the tools they need to trade effectively. Indeed, using a proprietary platform vs. Metatrader 4 makes it a worthy competitor to the industry standard. Additionally, the web trading system succinctly complements the desktop platform.
• Ease of Use – Our review of TradeStation vs eSignal, Robinhood, FXCM and Interactive Brokers helps new traders quickly figure out their old trading services.
• Export historical data – Stock brokers often fall short in terms of market data, but according to customer reviews, TradeStation excels with the large amount of downloadable historical data. This allows users to backtest and optimize strategies.
• Customer Support – According to Stocks & Futures review, customer service representatives can resolve most issues when the platform stops working. You also have a number of contact options to choose from, from phone support to live chat and email.

Disadvantages

Despite the above advantages, the TradeStation offering has several disadvantages:

• Watchlist – Cannot sync watchlist across platforms. Instead, they require separate storage that interferes with the overall user experience.
• Limited Free Data – As we often emphasize in our data reviews, the free data you get with flat accounts does not include Dow Jones Industrials and Russell 2000 index quote data.
• ETF and Mutual Fund Restrictions – TradeStation offers a variety of ETFs, but none are fee-free. Also, in-depth research is lacking. This is the same as mutual funds. It offers about 4,900, but has no transaction fees and minimal research. TradeStation vs Fidelity, $14.95 fund fee for acquisitions of TD Ameritrade and Etrade is well within industry average.
• Additional Fees – TradeStation has reduced some fees, such as the $99.95 per month basic platform fee for access to real-time market data from the Nasdaq, OPRA and Amex exchanges and the New York Stock Exchange. However, many features still require an expensive subscription for users who do not meet the account and transaction minimums.
• Disadvantages for Less Active Traders – While many brokers like Oanda create a level playing field for all traders, TradeStation’s per-share/per-contract commission plan benefits active traders at the expense of more casual investors.< /li>

Trading hours

Transaction times are approximately the same regardless of user location. However, TradeStation also offers after-hours trading. Therefore, a normal trading day is 9:30 a.m. EST to 6:00 a.m. EST, EST to 6:00 a.m. EST.

Users can automatically trade for an extended period of time. No additional documentation required. Also, TradeStation does not charge any additional fees or commissions for extended time trading.

Please refer to the official website for upcoming holiday times.

Contact & Customer Support

There are several ways to get TradeStation’s support for help, problems, complaints and other issues. Reviews often praise the high level of customer service provided.

You can contact us by phone Monday through Thursday between 08:00 ET and 20:00 ET and Friday between 08:00 and 18:00. Please see our website for phone numbers for your region and time zone.

You may also email TradeStation at [email protected]. This can help if your account isn’t working or you want to close it. We can also guide you through the initial margin requirements and full load for your brokerage account.

Technical support is available 24 hours a day from 15:30 ET Sunday to 20:00 ET Friday. According to reviews, the customer support staff are knowledgeable and can help when the platform doesn’t load or connect. It can also help when order types are rejected and decipher notifications.

You can also get support using the live chat feature. According to user reviews, latency was short.

Finally, you can also get support by going to our website and FAQ page. A detailed answer will allow many users to troubleshoot themselves. You can also find useful information about hotkeys, instructional videos, and outstanding funds.

safety security

Events in recent years highlight the need for legitimate brokers. Both hacking and false promises of wealth by unreliable middlemen have eroded public trust. So, is TradeStation a good broker in terms of user security? There is no doubt that we continue to go the extra mile to keep your personal data and information secure. In practice, they do so in the following way:

• Monitoring – using sophisticated technology by anti-fraud and anti-money laundering experts.
• Encryption – The application uses 128-bit data encryption (TLS/SSL) to protect your account and personal information. Hardware and software firewalls keep intruders out.
• Warning – You will be warned whenever significant changes are made to your profile, including login credentials and contact information.
• Privacy Policy – TradeStation Group will not share non-public information with third parties other than affiliates without your consent.

Tradestation Verdict

TradeStation is one of the best direct access brokers. Users rate its comprehensive trading platform and support for third-party add-ons. We also have a wide range of additional resources and customer support staff available to answer your questions. The only downside is the relatively expensive fees that punish less active traders.

Overall, TradeStation is a worthy choice for experienced traders. However, beginners may be better off elsewhere where you can find minimum requirements and free demo accounts.

Accepted countries

TradeStation only accepts traders from the US.