TradeStation

800 808 9336
Plantation, Florida, United States

TradeStation is an online brokerage service, best known for its analysis software and electronic trading platform. It services primarily the institutional trader markets and active traders. It offers a robust investment platform that provides real-time trading, as well as the ability to automate, monitor and optimize trades, and the opportunity to create your own custom features.

The platform provides the ability to have both traditional broker accounts as well as individual retirement accounts (IRAs), and allows for trading of stocks, mutual funds, ETFs, bonds, foreign securities, options, futures and forex trades.

Based in Plantation, Florida, the company began operations in 1982, making it one of the better-established platforms available. It has been owned by Monex Group of Japan since 2011.

TradeStation Fees and Account Minimums

The minimum amount to open an account is $5,000, but the fee structure can go as high or low as your circumstances will allow.

Account fee. TradeStation charges a monthly fee of $99.95 to use the service. There are three exceptions to the fee:

1) High trading activity in the previous month:

  1. Trading 5,000 equity shares
  2. Ten round-turn futures or futures option contracts, OR 50 round-turn single stock
  3. Equity & Index Options 50 contracts

2) A Forex account only entitles you to a free version of RadarScreen; limited to Forex symbols will be available and no account service fee is charged regardless of trading activity.

3) Accounts having a balance of $100,000 on the last day of the previous calendar month.

Stocks and ETF Pricing. TradeStation has two fee structures for trading individual stocks and ETFs:

Per-Share Commission:

You pay 1 cent per share, up to 500 shares, then .6 cents per share thereafter. On a trade of 1,000 shares you’d pay $8, based on 1 cent per share for the first 500 shares, or $5, plus the next 500 shares at .6 cents, or $3.

Flat-Fee Trading:

  • $4.99 per trade, based on 200 or more trades per month
  • $5.99 per trade, based on 100 to 199 trades per month
  • $6.99 per trade, based on 30 to 99 trades per month
  • $7.99 per trade, based on 10 to 29 trades per month
  • $9.99 per trade, based on one to nine trades per month

Options Pricing. Just as is the case with stocks and ETFs, TradeStation offers two pricing structures for options.

Per-Contract Commission:

You pay $1 per contract — no base or ticket charge, minimum one contract (market or limit).

Flat-Fee Trading:

  • $4.99 per trade + $0.20 per contract, based on 200 or more trades per month
  • $5.99 per trade + $0.30 per contract, based on 100 to 199 trades per month
  • $6.99 per trade + $0.40 per contract, based on 30 to 99 trades per month
  • $7.99 per trade + $0.50 per contract, based on 10 to 29 trades per month
  • $9.99 per trade + $0.70 per contract, based on one to nine trades per month

(Index Options incur an additional fee of 35 centers per contract.)

Futures Commissions and Fees. Once again, two pricing structures…

Unbundled Futures: Unbundled stock and ETF pricing coordinates with TradeStation’s commissions and flat fee offerings mentioned above. Standard exchange, regulatory, and overnight fees may apply.

“Trade More, Save More”:

  • 0.01 – up to 100,000 shares per month (minimum $1.00 commission per trade)
  • 0.007 – 100,000 to 1 million shares per month (minimum $0.70 commission per trade)
  • 0.005 – 1 to 3 million shares per month (minimum $0.50 commission per trade)
  • 0.003 – 3 to 5 million shares per month (minimum $0.50 commission per trade)
  • 0.002 – 5 million plus shares per month (minimum $0.50 commission per trade)
Founded in: 1982
Licensed:
Platforms: TradeStation Platform, TradeStation Web Trading, TradeStation Mobile
Capital:
Fees:
Broker: 99.95
Exchange:
Withdrawal:
Minimum Deposit: 5000

Mobile Trading Seminars, Education

User Reviews

Tim

As a new user I have found setting up frustrating. I have spent over 4.5 hours to just to try and setup my screens. They have a complicated setup in which you have to setup many screens if your also trading options. I have found that I cannot relie on the documentation as many of the parts that I tried do not follow the actual screens. On the positive side I have found the telephone service have very courteous. However you many have to call several area depending on what you want to do.

Tim
Tim again, unfortunately I have encountered additional problems using Trade Station Web platform. I was unable to submit a double diagonal SPX spread order. It was also confirmed that the web portal does not allow closing of spread orders as one order. To close a spread order thru the web you will have to submit each side of the spread separately. These type of orders are standard orders and should be part of any online trading system.
Sandor

Just one addition. I held an account there for 2 years. I tried to create trading programs on the TradeStation platform but finally gave up and switched to MQL. Just to explain my background: I am not a professional programmer but made many programs in Excel VBA. Also I was capable to learn C++ within three years enough to create object based programs on Metatrader platform.

So, if you intend to use TradeStation to create programs (in EasyLanguage) on your own then my advise is that you should forget it.

Actually I gave up when tried to switch backtesting from on bar open only method to every tick method. Theoretically it is only one additional simple command in the program – but it did not work for me. Beside this I think EasyLanguage is simply chaotic and poorly organised. It tries to reach everybody therefore combines very different sources – there are COBOL-like syntaxes beside OOP features. The idea is brilliant but the execution is not – I felt other areas suffered because too much was aimed. You can buy books about EasyLanguage – but I could not feel that they would have been worth the price. For me, as a “kind of programmer” EasyLanguage, the implementation and the relationship to the background of the platform felt to be poorly organised, clumsy and cumbersome in overall.

Well, you can hire EasyLanguage programmers. So if you can afford and can trust them then TradeStation still can be your choice. Also for manual trade it is an excellent platform (I agree 100% with all above in the review).

John

$9.95 is definitely competitive, but is on the higher end of the range.

JoeSDF

I've been with TS almost since their beginning and while they have had growing pains, they are one of the top US Forex STP/ECN Brokers. Their platform is excellent and well supported. I did have an order execution problem several years ago and it was resolved when they added $9,000.00 USD back to my account. I tried MT4 for awhile but returned to TS.

DanMauk

Terrible, frustrating experience with Tradestation. I opened a demo account, deposited 5K to avoid monthly charges.

When I tried to close the account, I was given the run-a-round for several weeks, told I must fill out more funds and wait several more weeks.

I would avoid this service at all costs.

eric

I love their charts and platform. However I have had problems with their trade fills, ghosts orders and execution on several instances. I started taking screenshots of all of my orders because of this and found it was an issue on their side not mine. The trade desk was anything but helpful. They basically had a "don't care" attitude.

I've filed complaints with the NFS but nothing is ever resolved. It is best to just keep your money elsewhere.

Joy

Been with Tradestation since mid-April 2015
-------------------------------------------------

Simulation Platform
- Good, but due to network issues, crashes frequently

Live Platform
- Ease of use - Good

Network
- crashes increasing; occurs multiple times a day O

Order Execution
- Slippage - Poor
- Equities - Fair to Good
- Forex - Fair - even at times of extremely high liquidity on major FOREX pairs
- Forex Spreads - Poor - high compared to FXCM's advertised spreads

Charts
- Indicators - Good
- ShowMe - Good
- PaintBars - Fair - not enough selection
- Strategy - Good
- Strategy- Automated - Poor- automated strategies do not execute reliably, unable to rely on them

Platform Education
- Good - however, some speakers sometimes brush over key details related to platform usage; seem to assume that all viewers are intermediate to advanced traders, obviously not true

Summary
- Fair - Issues with network crashes, order & strategy execution, slippage and forex spreads make the utilization of their service risky and can cause under-performance of trades. Good charts.

I'm writing this right now (10:14 am PST, Friday, June 12, 2015) because the network is down... again!

pratap_dange

I have had a situation where I was contacted by Tradestation sales team when I checked out their demo version. When I said I was not interested in opening the account with them for certain reasons, the sales person - Bruce Brotin was actually abusive ! Had to take it up the matter with FIRNA.

Irvino81

At first I really liked the TS experience, they had everything. Once I started trading live with real money everything went to hell. Stop hunting, manipulation, ghost orders that get change without you knowing it and a new word I learn recently trading the EURUSD requoting. Good luck with these people specially Anthony and John JaleeChen. Everytime something messed up happens they are involved I dont know why?

Mike

Charts are good, demo platform is adequate, however frequently crashes, live platform is BAD. Execution even at times of extremely high liquidity on major FOREX pairs is terrible. Slippage is high, spreads are excessive. High risk, poor return. Why would you go with these guys? For pretty charts......

Mike

I have been trading with Tradestation before they traded Forex, once they went to Forex I moved an account over and opened a Forex account. there used to be a commission when they used gain capital to fill trades, but now there is no omissions, there charts are great and I am profitable month after month not only do I trade my personal account but I also manage accounts for others and use Tradestation to do so. Customer support has always been great.

Frank

I couldn’t imagine a worse experience with Customer Service. They talk down to all of their customers.
They treat this place like a Casino.
Please first try any other Broker.

Tradestation over charged me and then refused to reverse the charges. Further, they refused to send me receipts when requested or confirmation emails. So, they can pretty much do whatever they want once they have your money.

SDTrader

The absolute worst! My experience was a few years ago. It took me longer to get my money back than I used them. Everything that could go wrong did go wrong. I used the 'free' month- which became only free if you placed enough trades (never mind no demo to actually learn the platform). Requested a refund for the balance in my account. Said balance changed after I submitted my request making the numbers not match- no contacting me, just no action because they did not match (close and forward balance was not an option). Called them- will send it right away. Waited. Called-even the person could see how screwed up they had been.... 'Will close, and send overnight-no fee.' No check either. Eventually got my check- REGULAR mail with overnight fees deducted! OMG. A few weeks later I got the overnight fees. I may be leaving IBFX because of recent new association.

JamesTuong

Very terrible, huge spread. It was 41 pips spread on AUDJPY during a news announcement. FXCM and Dukascopy only had about 5 pips spread at exactly the same time. Tradestation should go to hell.

EdmundJ

Having a horrible experience with Tradestation. Their strategy conveniently stopped working when I was away from my PC. Missing 2 key profitable trades, and keeping me in a huge losing one that should have been exited. When I asked about this, they gave me lecture on not leaving my computer unattended and the risks of trading Forex. There was no disruption on my end, no power failure...nothing...strategy just stopped. I sent screenshots, logs and everything to customer support, a week later nothing.

Peter

Customer service has been good and the accounf was very easy to set up so not sure what all the other reviews are on about. But major problems with the platform constantly crashing. Tech guys tried to help but to no avail. Could be an issue my end with internet provider but have no problems with more basic platforms such as MT4 or java based platforms, so sorry TS, its a thumbs down from me.

Raj

TS is fairly shitty at opening account, transferring funds, customer services, etc.
you have to open multiple accounts for each asset class which is worse as you have to do a wire transfer or set up various ACHs. + you have to pays fees on both side of transfer. in addition, everything is done via fax and paper so there is digital trace for you.

data and chart functionality is simliar to every other broker. the worse part is the taxing season as TS does not provide consolidated 1099 you will have to reconcile your trades yourself and manually verfiy the data.

mark

service is lacking, try calling in and wait, an office full of salesmen, i do not think any of them have traded themselves, for the fees they charge i would think you could get help on there platform,

Chris

Terrible broker. Very inflexible. Will not improve your profitability. Charting is so-so and way overrated, relying on the "Tradestation" charting platform name before the brand was used as brokerage firm. Their low commissions become illusory.

Tony

Poor platform, slow loading of charts, diconnects from server several times a day during heavy volumn, wide spreads (use gain capital for forex clearing house), adds commision to each trade not to mention the vairable spreads from gain capital. If you plan to trade forex only, go to a broker that uses MT4, which is a free platform, Tradestation charges $100 a month for their platform use.

Robert

Horrible fills...for example if your selling to close a position, youll see higher prices executing on the time and sales than what you have your limit order set for and yet your order will still not be filled....horrible!!!!

Jim

What in hell has Tradestation been doing all these years? Tradestation is inadequate for Forex trading: (1) NO PORTFOLIO ANALYSIS to test multiple strategies and securities into one concise report (2) NO EFFECTIVE SCROLLING or scanning capability to quickly run through currency pair charts (3) TOO AGGRESSIVE size for new traders, Interbank has penny trades for a lot of practice in this impossible market. (4) FEES, FEES, FEES (5) Gain Capital is so far your worst rating nightmare.