According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $500
- TradeStation
- TSCrypto
- Up to 1:50
- Trading with margins is available when depositing $2,000
Our Evaluation of TradeStation
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
TradeStation is a moderate-risk broker with the TU Overall Score of 6.73 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by TradeStation clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
The conditions of the TradeStation broker are suitable for experienced traders and investors who make large trades in the US stock market.
Brief Look at TradeStation
The TradeStation Group (TradeStation) was founded in 1987 as a trading software company then-named Omega Research. After being listed in the American market, Nasdaq launched an online version, and in 2001 it began providing brokerage services for the sale of securities under the TradeStation brand. Until 2021, inclusive, the broker's trading platform was recognized ten times in a row as the best in its class by StockBrokers.com. In 2020, TradeStation was named Broker of the Year at the First Annual TradingView Broker Awards. In the same year, according to Investor's Business Daily, the company was among the Top 4 of US online stock brokers.
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- Licensed by the US Securities and Exchange Commission (SEC) and insurance coverage from the Securities Investor Protection Corporation (SIPC).
- Has a wide range of trading instruments, including cryptocurrencies, IPOs, and ETFs.
- Does not charge commissions for trading US stocks and ETFs.
- You cannot trade currency pairs.
- Regulators do not oversee TradeStation Crypto, Inc., which maintains crypto trading accounts.
- The support service does not work around the clock and only answers questions that are asked in English.
- There are only a few ways to withdraw funds, the average time of receipt of funds to a bank account is 4-5 business days.
TU Expert Advice
Author, Financial Expert at Traders Union
TradeStation provides a diverse range of trading instruments, including stocks, cryptocurrencies, IPOs, and ETFs. The proprietary platform offers multiple account types, requiring a minimum deposit of $500. Its clients benefit from zero trading fees on U.S. stocks and ETFs, and margin trading options are available for accounts with $2,000 or more. The platform is praised for its advanced analytics tools and easy-to-navigate interface, providing robust opportunities for strategy development.
However, TradeStation has some drawbacks, including the lack of currency pair trading and limited client support availability. Additionally, TradeStation Crypto, Inc. is not regulated by the same Tier-1 authorities, which may concern some traders. Given these considerations, TradeStation may best serve experienced traders and institutional investors focusing on the U.S. stock market. The absence of Forex trading may not satisfy traders seeking currency market exposure.
TradeStation Summary
| 💻 Trading platform: | TradeStation proprietary platform (desktop, mobile, web), TSCrypto (for trading cryptocurrencies) |
|---|---|
| 📊 Accounts: | Simulated trading (demo), individual brokerage (TS SELECT, TS GO, Crypto) joint, custodian, pension IRA, corporate accounts |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Wire transfer, OFX, Continental Currency Exchange, Currency Fair, OnePip, check by mail, automated clearing house (ACH) transfer |
| 🚀 Minimum deposit: | From $500 |
| ⚖️ Leverage: | Up to 1:50 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | $1 |
| 💱 EUR/USD spread: | No, brokerage commission - from $0 |
| 🔧 Instruments: | Cryptocurrencies, stocks, bonds, futures, options, mutual funds, ETFs, IPOs |
| 💹 Margin Call / Stop Out: | No data |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Market Execution |
| ⭐ Trading features: | Trading with margins is available when depositing $2,000 |
| 🎁 Contests and bonuses: | Welcome bonus, deposit bonus |
TradeStation offers clients 14 types of accounts, including three types of brokerage trading accounts (individual and corporate) with a minimum deposit of $500. The company also provides an opportunity to trade cryptocurrencies with low commissions. Margin trading is available for deposits from $2,000.
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Trading Account Opening
To start making transactions in the stock market through the TradeStation broker, you need to become its client. To do this, follow these steps:
If you are a US resident, you can open an account online. To do this, visit the official website of the company and click the "Open an account" button. Next, complete the registration form with your name, date of birth, permanent address, valid taxpayer identification number, or social security number. After that, you need to select the type of account, and then go through verification.
Foreign residents are required to submit paper applications, which must be printed, completed, and then mailed to the broker. All applicants must provide basic personal information (as indicated in the passport), data on their financial condition, and investment experience (annual income, its total and liquid net worth, year of commencement of trading activities, and asset class).
The following functions are available in your TradeStation personal account:
Also in the personal account, there are the following buttons:
TradingApp® Store to download and install additional trading apps and tools.
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Online chat for prompt communication with broker representatives.
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Strategy Back-Testing for developing and testing your trading strategy without financial investments.
Regulation and safety
TradeStation Securities, Inc. is a broker-dealer licensed by the SEC (US Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) regulators. The company is also a member of FINRA (CRD#: 39473/SEC#: 8-48711), SIPC, CME and NFA (0307871).
However, the TradeStation Crypto, Inc., division that provides accounts for trading cryptocurrencies is not a securities broker and does not have the above licenses. This TradeStation Group subsidiary is listed in the National Multi-State Licensing System and Register (NMLS), ID 1843762. The NMLS is a US government-accountable website that publishes financial performance data for public companies and is not a regulator.
Advantages
- Customers’ funds are held in segregated accounts
- SIPC coverage is only available for stocks and options trading accounts
- Each client of a broker with US citizenship can file an electronic or written claim with the regulator
Disadvantages
- The license does not apply to Crypto accounts
- Lengthy procedure for opening a brokerage account
- Not all clients of the company can get SIPC insurance
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| TS SELECT | From $0.60 | No |
| TS GO | From $0.50 | No |
| Crypto | From $0.50 | No |
Free real-time data is only available to non-professional customers. We also compared the trading commissions of TradeStation with popular Forex brokers. The assignment of a low level can be considered conditional since TradeStation Group does not provide access to the foreign exchange market.
Account types
For individual clients, TradeStation offers three types of brokerage accounts: Crypto for trading cryptocurrencies, TS SELECT, and TS GO for trading in stocks, futures, options, and ETFs. Margin trading is available if you have $2,000 or more in your account.
Account types:
The broker provides an imitation trading (demo) account, which allows traders to develop and test their trading strategies, hone their practical skills, and execute demo trades without financial risks.
TradeStation is a regulated company that specializes in working with the stock market and aims to work with large investors and experienced traders.
Deposit and withdrawal
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Withdrawal of funds is carried out in two ways: by bank transfer using the details and by payment through the automated clearing house (ACH).
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Domestic bank transfers within the United States take up to 2 business days. Withdrawal of money to accounts of international banks and through ACH is carried out within 4-5 business days.
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The broker does not charge any withdrawal fees. There is no ACH withdrawal fee. The size of the commission for the transfer according to the details is set by the banks that send and receive funds.
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Withdrawals and deposits of currencies: for securities accounts: USD; for Crypto: BTC, LTC, and ETH.
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Verification is a mandatory procedure for all clients.
Investment Options
TradeStation is a broker for active traders and passive investors. The company offers favorable conditions for investments in mutual funds, ETFs, and IPOs. All trades are made on TradeStation's platforms, including mobile transactions.
ClickIPO - Mobile IPO investment platform
TradeStation provides clients with the opportunity to invest in an initial public offering (IPO). Via the ClickIPO mobile application, a potential investor gains access to data on the price range and the expected date of an IPO placement. After choosing assets and depositing at least $500 on the balance, you can start investing. TradeStation installs a trading robot to buy stocks at the time of an IPO. After the shares become available on the market, the broker buys the securities and adds them to the investor's portfolio.
Features of investing in an IPO through TradeStation:
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The ClickIPO app displays not only upcoming IPOs but also current and past IPOs, as well as secondary offers. A detailed description of each product is also available.
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An investor can set up watchlists for IPOs of interest and activate the service by receiving push notifications about new and updated offers.
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When using the ClickIPO platform to buy assets, the broker does not charge any commission on trades.
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An investor cannot purchase an IPO using a margin; his account must have sufficient personal funds to purchase shares.
To invest in an IPO, you just need to open a brokerage account with TradeStation and make a deposit of $500 or more. The purchase of an IPO share should be considered solely from the point of view of long-term investment since income from such investments can be received within 1-3 years.
The main advantage of investing in an initial offer is the ability to purchase shares that are difficult to obtain on the secondary (exchange) market. The disadvantages of participating in an IPO for an investor are high risks and temporary stays in a loss-making event since the invested funds begin to generate income only after a certain time.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
TradeStation affiliate program:
TradeStation does not offer affiliate reward programs to retail customers. The company has been providing brokerage services for over 20 years. Therefore, it is well known among American traders and does not need additional advertising through the distribution of referral links.
Customer support
TradeStation support is available from Monday through Friday, 8:00 am to 5:00 pm ET.
Advantages
- There are an online chat and a chatbot
- You can order a callback
Disadvantages
- The chat does not work around the clock or on weekends
TradeStation clients can get their questions answered in several ways:
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by phone;
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by email;
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in an online chat via the company's website;
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by ordering a call back;
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via a chatbot.
Technical support specialists can be contacted directly on the broker's website and through your personal account.
Contacts
| Foundation date | 1982 |
|---|---|
| Registration address | 120 S Riverside Plaza, Chicago, IL 60606, USA |
| Official site | tradestation.com |
| Contacts |
800.822.0512 or 954.652.7900
|
Education
The broker's in-house education arm, YouCanTrade, offers a variety of multimedia learning resources designed to help novice traders master the necessary trading skills and generate new trading ideas from experienced traders.
Trading theory can be consolidated in practice by applying the knowledge gained with virtual trading on a demo account.
Detailed Review of TradeStation
TradeStation offers 14 different account types to suit most trading and investment purposes of its clients. Their low-fee terms and conditions can be adapted to suit any trading style and free capital. The company provides online brokerage services to active individual and institutional traders in the United States and around the world. The innovative TradeStation trading and analytics platform provides one-click access to all major exchanges and market data. Its functionality allows clients to develop, test, optimize, track and automate their strategies for trading securities and cryptocurrencies.
Here are a few numbers about the TradeStation broker which will help a trader to choose a reliable broker. They are posted on the official website of the company:
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More than 33 years of experience in the field of information technology and brokerage services.
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Over 100 international awards.
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More than 135 thousand active client accounts
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Proprietary platform.
TradeStation is an online broker with a high-tech proprietary terminal for comfortable and effective trading.
Its unique trading platform allows clients to switch between accounts in one window to track open positions, easily place orders, select the size, type, route, and duration of the trade.
Traders are provided with free real-time quotes, as well as the ability to analyze charts using indicators and charting tools to quickly determine the direction of the price movement and its probable fluctuations in the future. With the Strategy Back-Testing feature, potential traders can test, optimize and fully automate their trading ideas using 5-10 years of historical market data.
The TradeStation desktop terminal includes more than 10 built-in applications and also provides access to The TradingApp Store, which is an online store of additional products from third-party developers to increase trading efficiency. The web, desktop platform, and mobile apps support real-time streaming and one-click transaction options.
Useful services of TradeStation:
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TradeStation analytics. An advanced tool for charting, studying market indicators, and obtaining reliable technical data to accurately determine the entry and exit points of trades.
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The Matrix. An application for one-click order entry and tracking market depth and liquidity.
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Radar Screen. A tool for scanning and sorting assets, taking into account the data of technical and fundamental indicators, with the ability to customize screens to reflect the user's trading strategy.
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OptionStationPro. An application for analyzing and selecting options.
Advantages:
Licensed by the authoritative SEC regulator and membership in FINRA, SIPC, CME, and NFA.
Low commissions on US stocks and ETFs with low trading volume.
You can invest in an IPO through TradeStation, a convenient proprietary mobile platform.
The existence of a large number of individual and corporate accounts for brokerage, pension, and investment.
Free analytics, real-time quotes, and training materials are provided.
The commission for trades with cryptocurrency is not tied to the volume but depends on the account balance.
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