Active trading is an investment strategy that helps investors exploit market discrepancies, giving traders a statistical edge. Unfortunately, many active traders approach it as if it’s a video game, leading to potential risks and losses. Trading isn’t just about using sophisticated software; the real advantage lies in accessing accurate data and adhering to a risk management strategy.
TradeStation provides essential data and strategy insights to enhance trading success. However, no platform can stop you from making high-risk trades when your instincts suggest otherwise. In this review, we dive deeper into TradeStation to help you make an informed choice.
TradeStation Essentials
TradeStation stands out as both a futures commission merchant (FCM) and a self-clearing broker-dealer. With nearly four decades in the industry, the company offers an impressive toolkit for active traders. Online accolades show numerous awards for their trading technologies.
Users on TradeStation can venture into diverse asset markets. Benefits include commission-free trades for up to 10,000 shares per transaction, followed by minimal per-share pricing. Notably, in late 2021, TradeStation revealed plans for an IPO in 2022 via the Quantum Fintech Acquisition Corporation.
A variety of account types are available, from Taxable to entity accounts.
TradeStation Platforms
- Desktop Version: Exclusively for Windows, this version boasts:
- RadarScreen: Monitors up to 1000 symbols in real-time with customizable indicators.
- Matrix: Order entry & tracking system designed for swift trades.
- EasyLanguage: Enables creating custom indicators & trading tactics.
- Back-Testing: Test strategies with historical data spanning decades.
- OpenStation Pro: Quick visualization of option strategies.
- Desktop PC: Downloadable apps for added functionalities.
- Hot Lists: Helps monitor and act on noteworthy market activities.
- TradeStation Web: A versatile platform, accessible on any Mac or Windows machine with internet connectivity.
- Futures Plus: Combines futures trading with complimentary market data, sans platform fees.
- TSCrypto (TradeStation Crypto): Supports order routing across various markets for five leading cryptocurrencies. It’s essential to know TSCrypto is a brokerage, not an exchange. Its interface is dense with tools for veteran traders, enabling three main order types and real-time monitoring.
TradeStation’s Pricing
Equities trading features two tiers: TS Go and TS Select. Both offer commission-free stock trading and ETF orders up to 10,000 shares. Mutual fund trades come at $14.95. Direct comparisons highlight differences in cryptocurrency and equities pricing.
Distinctive TradeStation Features
- RadarScreen: Real-time tracking to swiftly pinpoint investment opportunities.
- Competitive Fees: Attractive pricing especially for high-volume traders.
- Hot Lists: Real-time monitoring of unusual market activities.
- Continual Innovation: Ongoing enhancement and expansion of tools.
Educational Resources
TradeStation provides several tools, from labs and universities to technical analysis, catering to both novices and experts.
Is TradeStation Reliable?
With BitGo as its primary custodian, TradeStation offers robust digital protection measures, ensuring safety for users’ assets and information.
User Experience on TradeStation
TradeStation provides multi-platform trading capabilities. The primary platform, TradeStation 10 Desktop, and its mobile counterpart are feature-rich, intuitive, and customizable. A unique lexicon, real-time data streaming, and efficient research tools add to the user experience.
Opening a TradeStation Account
A straightforward six-step online process gets your account up and running.
Customer Support
TradeStation boasts live chat, phone support, and even an option to schedule calls. It also has an A+ BBB rating.
TradeStation: Advantages & Disadvantages
Pros: Commission-free trades, user-friendly interfaces, and unmatched reliability with 99.999% uptime.
Cons: While not elaborated in the provided text, potential users should conduct further research to understand any drawbacks.
In conclusion, TradeStation offers a robust platform for traders, but like all tools, its efficacy depends on how it’s utilized.
