TradeStation is the preferred choice for active traders because of its robust trading platform, $0 trading commissions and a wide range of tradable securities, including cryptocurrencies.
Highlights of TradeStation
Professional Trading Experience: TradeStation is the first choice for serious investors looking for a truly professional trading experience. In fact, TradeStation used to target professional brokers and money managers exclusively. Regular investors now have access to the company's powerful tools, especially after the company reduced transaction costs to $0 and lowered the minimum investment in its TS GO product to $0.
Advanced Options: Even more attractive to seasoned investors is the broker's TS Select plan, which requires an initial investment of $2,000 but provides access to the broker's full suite of tools and free trades from the powerful TradeStation 10 desktop platform.
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More details on TradeStation reviews
Account Minimum: 5 stars out of 5
TradeStation account minimums with TS Go are $0. TS Select requires a minimum balance of $2,000.
Stock Trading Cost: 5 out of 5
With the launch of the TS GO and TS Select programs, TradeStation users can now trade stocks, options and ETFs commission-free on TradeStation's web and mobile platforms. One problem: TS GO users can download and use the TradeStation 10 Desktop marquee platform, but all trades on the platform are $10 per trade.
Note: Free trades on TS GO and TS Select are limited to 10,000 shares per trade; traders with larger volumes can choose from two additional pricing plans. Here's a full rundown of TradeStation pricing:
TS GO: Trade freely when using TradeStation's mobile or web-based trading platform. Options trades cost $0.50 per contract.
TS Select: TradeStation's standard account that includes full access and free trading through the TradeStation desktop platform and requires a minimum account balance of $2,000.
Per-Share and Unbundled Pricing: High-volume traders can choose commission per share/per contract or unbundled pricing. For traders who frequently trade in small batches, TradeStation offers a discount of $0.01 per share for the first 500 shares and $0.006 per share for each subsequent trade. The minimum fee per transaction is $1.
Options Trading: 5 out of 5
Options trades are commission-free, but they still charge a contract fee of $0.50 per contract. For TS Select, the cost increases to $0.60 per contract. The price per contract is $1 per options contract (minimum one contract).
Account Fees: 2 out of 5 stars
TradeStation charges $125 for account transfers; for IRAs, TradeStation charges an annual account fee of $35 and an IRA account closure fee of $50. TradeStation also charges an annual inactivity fee of $50 on accounts that have an average monthly net worth of $2,000 or less or have not executed at least five trades within the 12-month period following the anniversary of the account's initial funding.
Number of mutual funds with no transaction fees: 1 out of 5 stars
TradeStation offers a lot of funds (2000+), but none of them are free of transaction fees, and fund research is relatively thin. However, the mutual fund commission of $14.95 is on par with other mainstream brokers.
Available tradable securities: 4 out of 5
TradeStation allows users to trade stocks, bonds, mutual funds, exchange-traded funds, options and futures, as well as some select cryptocurrencies. Forex traders, however, need to look elsewhere.
Encryption Usability: 5 out of 5 stars
Through its subsidiary TradeStation Crypto, users can sell and trade eight cryptocurrencies and five crypto-to-crypto trading pairs. Users also have the option to use a personal crypto wallet to remove their cryptocurrencies from the platform, earning relatives in our roundup of the best cryptocurrency exchanges and platforms comparing TradeStation with pure-play cryptocurrency brokers like Gemini and Coinbase. high rating.
Trading Platform: 5 stars out of 5
TradeStation is known for its impressive desktop platform for TS Select clients. It provides clients with direct market access, automated trade execution and tools to design, test, monitor and automate their custom trading strategies for stocks, options and futures. Users can customize the desktop with multiple colors to better highlight the most relevant data. Investors can test new strategies in real-time before risking real money using the TradeStation Simulator.
Option investors will appreciate free access to the OptionStation Pro platform. Preview mode allows mobile app users to create custom watchlists and view graphs and trends without opening an account.
Traders who are not brokerage clients can subscribe to TradeStation tools: non-professional traders pay $99 per month, while professional traders pay $199 per month.