Wed. Dec 7th, 2022

TradeStation overview 2021

TradeStation was the creation of two brothers, William and Rafael Cruz. They breathed life into the company because they needed a way to design, test, optimize and automate their own trading strategies.

TradeStation Group Inc is effectively the parent company of an online securities and futures broker. The headquarters is located in Florida.

Account types

There are two types of retail brokerage accounts: US stocks and options and futures. You can apply for both types of accounts.

When you open a TradeStation account, you will also have access to paper trading. This simulator will allow you to develop and test strategies without risking your own capital.

Minimum initial deposit

  • USD 500 for trading accounts
  • Minimum futures account of $5,000
  • Minimum account size $ 2,000 to trade options
  • $30,000 for day trader accounts with stocks and options

Spreads and commissions

They use three different structures for stocks:

  • Per share
  • Fixed fee
  • Divided

For options, TradeStation uses a fixed fee per share. Trading in stocks will cost $ 5 and options trading at $ 5 + $ 0.50. The monthly account maintenance fee is $ 99.95 unless you reach the minimum activity level. As a result, it is the most economical option for non-professional traders.

Leverage

Select a margin account and you can borrow capital from TradeStation to increase your position size (purchasing power). The margin interest rate will depend on the instrument and account type.

Other trading fees

  • Outgoing transfer fee $ 125
  • Annual bill fee of 35 IRA
  • IRA account closing fee of $50
  • There is an annual inactivity fee of $ 50 for stock accounts that do not trade 5 per year or have an average monthly account balance of $ 2,000.
  • Monthly data transfer charges range from $ 1 to $ 150 for different indexes, depending on your account type.

TradeStation truly delivers unique specials and promotions. For example, combat veterans and first responders can sign up for the TradeStation Salutes program. This gives you access to completely free trades in stocks, ETFs and options.

Web trading platform

In addition, a secure connection is guaranteed when accessed from a Mac, Linux or PC web browser. Overall, reviews of web trading are positive, but they noted that seasoned traders will want to take advantage of the comprehensive features of the desktop platform.

Desktop platform

While the 9.5 software reviews were popular, TradeStation 10 was meant to be a new and improved platform. Some of the highlights of the platform include:

  • Custom Chart
  • Automated trading strategy
  • Impressive execution speed
  • Market quick scan tools
  • Market volume and profile
  • Advanced order entry and management
  • Market depth window that can track the activity of specific market makers.

Thus, users have extensive functionality and a range of functions. Of course, you also get all the useful basics like news feeds, email notifications, and direct chart trading capabilities. Placing trailing stops, backtesting strategies, and tracking the cryptocurrency of interest are also simple. In addition, you can create your own indicators using the TradeStation Easy language, tutorials for which can be found at the online trading academy.

In particular, the reviews of the TradeStation testing are positive even when compared to Multicharts. This means that traders can test and reproduce a strategy with real data before risking their own capital.

TradeStation Mobile Apps

You can get trading apps for iOS and Android from their respective app stores.

After logging in, you will see watchlists, live quotes and customization options. The interface is clean, in part because the data displayed is kept to a minimum. You can also easily access drawing tools, futures data, and symbol lists and searches. You can also set up helpful text alerts from within the app.

In 2017, the Matrix was added to the iPhone and Android apps. It is a ladder trading tool that allows you to buy and sell with a single click from a level 2 quote window in real time. Limit orders are especially useful in day trading when every penny per share counts. It’s worth noting though that tier 2 data is not included in the free package and is provided for a monthly $ 11 fee.

Plus you get:

  • 20 additional indicators
  • Visibility outside office hours
  • Trading Tutorials & Tips
  • Complete chart types including Heikin-Ashi and Renko bars

Then the iPad and Android app reviews were generally happy with TradeStation’s offerings. Apps provide a smooth transition from desktop apps. They provide all the basic tools you need to generate income.

Demo account

Basically, there is no such practice account. Instead, virtual trading is only available after you have funded your account.

The only option is to watch demo videos.

That being said, it is worth keeping an eye on their official website as sometimes TradeStation launches a 60-day free trial download.

WebAPI

The WebAPI application programming interface helps to run multiple applications. It also means that third-party developers can build and integrate applications using a programming language that creates and accepts HTTP requests and responses.

Automated trading

  • Activate the chart analysis window containing the strategy.
  • Choose a strategy with the display on.
  • In the Automation section, click Generate Strategic Orders to display under the Strategic Orders tab of TradeManager.
  • Select the Automate execution using an account with confirmation check box.
  • Click I Agree.
  • Verify the information is correct and click Close to apply the changes.

RadarScreen

The software download portion of your platform will give you access to the RadarScreen feature. Instead of looking at historical options data and the price of cheap stocks, you can easily identify potential opportunities.

Hot Lists

This helps to identify unusual activity. Over 100 hot lists help you see which ticker indexes and futures symbols can break the 52-week high. You can immediately see that the bitcoin futures symbol is about to burst, for example at opening.

EasyLanguage

Forget the Python API, EasyLanguage lets you create your own analysis tools and strategies. You can create and modify indicators on your trading platform.

Regulation

TradeStation is one of the most reputable online brokers in the world. The brokerage company is registered with the SEC and has a good relationship with FIRA.

TradeStation is a member of the Securities Investor Protection Corporation (SIPC). Thus, accounts are guaranteed up to $ 500,000, including $ 250,000 in cash.

Safety

  • Monitoring – Anti-fraud and anti-money laundering specialists use advanced technologies.
  • Encryption – Apps use 128-bit data encryption (TLS / SSL) to protect your account and personal information. Hardware and software firewalls also protect against intruders.
  • Alerts – You will receive alerts whenever significant changes are made to your profile, including login credentials and contact information.
  • Privacy Policy – TradeStation Group will not transfer non-public information to third parties, other than their affiliates, without your consent.

Accepted countries

TradeStation only accepts US traders.

Reviews for another brokers:

Afex Capital reviews

Golden Stanley reviews

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