Tradestation Review

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Overview

Company Information TradeStation is one of the biggest names from the industry, and the brand is part of TradeStation Group Inc. The company dates back from 1982 when it was… more

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Details

BrokerTradestation
Website URLhttp://www.tradestation.com/
Founded2001
HeadquartersPlantation, Florida, U.S.A.
Support Number800.808.9336
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish
Free Demo Account No
US Traders Allowed Yes

Full Review

Company Information

TradeStation is one of the biggest names from the industry, and the brand is part of TradeStation Group Inc. The company dates back from 1982 when it was initially founded by two brothers William and Rafael Cruz. The first name of their enterprise was Omega Research Inc. TradeStation was launched nine years later and became one of the most successful products. From 1997 to 2011 the online broker was listed as a Nasdaq GS company. Later on, when the corporation became part of the Monex Group, TradeStation was listed on the Tokyo Stock Exchange. The globally recognized financials provider is mainly involved in trading analysis software development and brokerage services worldwide. The headquarters are located in Plantation, Florida. However, TradeStation has many other offices presented across various key place around the USA, such as Texas, New York, and Chicago. There are also branches in Sydney, London and Costa Rica. In 2016 alone, the US firm won 9 different awards from online magazines about financials and other notable media. Some of the most distinguished awards are “Best for International Traders”, “Best Trading System”, “Top Five Broker in America”, “Best Professional Platform” and more. TradeStation also provides the amazing educational system with lessons, events, and many other helpful resources.

 

Trading Information

The US online broker offers almost all types of financial instruments to its clients. Apart from the standard opportunities in stocks, ETFs, and futures, the company provides equities and options. The trading conditions were well polished over the years and now TradeStation offers some of the most productive environment for traders. Commissions on shares start from $0.006 per share or $4.99 per trade. Options can be obtained for $1 per contract and futures as low as $0.25. Compared to other similar providers from the industry, this online broker is highly competitive and a suitable choice for both pros and beginners. When it comes to account types, there are various options for the clients. US taxpayers can take advantage of Traditional IRA, Roth IRA, and Sep IRA profiles. There are also individual and joint account types. Institutional profiles are not forgotten as well, and those clients can choose from Corporate, General Partnership, Trust, Limited Liability Company, Sole Proprietorship and Custodial account type.

 

Trading Platforms

TradeStation allows access to one of the most proficient platforms for traders designed by their developers. The software is extremely flexible, well-optimized and equipped with the latest features to allow smooth and enjoyable user experience. Over 150 different indicators can be used, as well as advanced charting system and tools. The online broker has developed own programming language integrated into the platform, which can be easily used on various projects, automation and more. Custom indicators and tools can also be placed on the Trading App Store supported by the company, where developers can sell their work and profit. Unfortunately, the trading platform employs a monthly fee of $99.95. The extra charge can be excluded from the client’s bill only by following certain conditions. Traders should have at least $100 000 account balance or monthly turnover of 5000 shares or 50 options contracts to avoid taxation. TradeStation’s platform is also available for mobile devices with an easy and quick installation process. Customers can also access the software from their browsers. TradeStation Web Trading is a fully working version of the platform.

 

Security and Customer Services

TradeStation employs some of the most advanced security measures from the industry. The company follows all the best practices when it comes to clients’ safety of funds. The US broker is also entirely regulated by local and international authorities, such as FINRA. The website of TradeStation uses efficient SSL encryption on all the login pages. It’s certified by GeoTrust Inc. and ensures an extra layer of security for all the sensitive information provided by the customers.

 

It’s incredibly easy to make contact with the company. There are various phone lines and emails of the different departments available. Clients can communicate with the customer support from Monday to Friday, 8:00 – 20:00. Alternatively, there is an online chat service and social media channels that can be used for communication with the online broker. The US company also supports an extensive database of FAQ, guides, and tutorials for almost anything related to its system. The knowledge center can be accessed once the trader registers account.

 

Deposits and Withdraws

TradeStation employs different deposit options according to the type of financial instrument involved. Stocks and the ETFs account can be funded by check deposit via US mail. There are no extra fees and the waiting period is up to 3 business days. Options and futures can use the same payment method plus bank wire transfer and Electronic Transfer (ACAT). The minimum deposit amount is $5000 for most of the situations. However, there are some special cases when TradeStation may require more funds.

 

Withdrawals are subject to some background checks and verifications. It may take a few days for the money to be released into the customer’s account. Usually, money is transferred through the same payment method used for the initial investment.

 

Deposit Bonus and Loyalty Programs

TradeStation doesn’t offer welcoming bonuses, but it surely has an exciting loyalty program with excellent rewards. New and existing clients can quickly take advantage of the lucrative commission rebates and receive up to $1500. Accounts with starting balance lower than $99 999 can get up to $500 in rebates, from $100 000 to $249 999 – $1000 in rebates and deposits over $250 000 – $1500.  Free platform access for 60 days and free premium educational content are also part of the special offer. Take note that the exclusive promotion is limited.

 

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