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TradeStation review 2023

TradeStation is a sophisticated trading platform that lets you trade stocks, options, futures and even crypto, but fractional shares and forex trading are not available.

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TradeStation

Learn more and sign up on TradeStation's secure site

Our verdict

TradeStation is a sophisticated trading platform with top-notch analytics, charting and research tools; experienced investors and day traders will find the highest value. However, beginner traders may find it overwhelming, yet useful, given the option to learn how to trade with virtual money.

Best for: Intermediate or experienced traders

Pros
  • Trade stocks, ETFs, options, crypto and more.
  • Customizable platform with advanced charting and research tools.
  • Learn to trade with unlimited virtual currency.
Cons
  • No fractional shares.
  • Numerous account management fees.
  • No forex trading.
4.1

★★★★★

Finder rating

Stock trade fee

$0

Minimum deposit

$2,000

How we rated TradeStation’s features

Fees

★★★★★

Stocks and ETFs are commission-free for the first 10,000 shares per trade, options and futures are also commission-free but come with a small fee per contract.
Available securities

★★★★★

Stocks, ETFs, mutual funds, bonds, options and crypto.
Customer support

★★★★★

Contact support via Live chat, email and phone.
Mobile app

★★★★★

The mobile app is well-received on both Google Play and the Apple App Store.
Research and tools

★★★★★

Investors can access numerous screeners, top-notch charting, industry news and third-party research.
Reliability

★★★★★

No major service outages, but mobile app crashes have been reported.

To learn how our star ratings are calculated, read our methodology at the bottom of the page.

TradeStation is best for experienced traders

With a pro-level trading platform geared toward active traders and extensive research tools and investment options, TradeStation is best for experienced traders. That said, beginners aren’t forgotten. Use the intuitive mobile app and educational resources that include live trading seminars, an interactive trading community and courses to teach you how to master its different platforms.

What you can trade on TradeStation

  • Stocks
  • ETFs
  • Options
  • Futures, micro futures and future options
  • Cryptocurrencies
  • Mutual funds
  • Bonds

Account types available with TradeStation

  • Individual
  • Joint
  • Traditional IRA, Roth IRA and SEP IRA
  • Entity

Where TradeStation shines

TradeStation offers a comprehensive lineup of tradable securities, including crypto. Aside from its sophisticated trading platform, TradeStation allows you to write a program to back-test and automate your own trading ideas. That said, beginners aren’t forgotten. TradeStation also offers a slightly powered-down web-based platform, an intuitive mobile app and educational resources that include live trading seminars.

Where TradeStation falls short

Like most brokers, TradeStation charges contract fees for options and futures. But the biggest drawback are the service fees attached to your account, such as a $50 inactivity fee for accounts of less than $2,000 or with a fewer than five trades in 12 months, a $35 annual IRA administration fee or $100 annual fee if you hold crypto in your IRA, and more.

TradeStation’s fees

Minimum deposit$2,000
Annual fee$0
Stocks and ETFs$0
Stock options fee$0 commission + $0.65 per contract
Futures$0 commission + $1.50 per contract, per side
Micro futures$0 commission + $0.50 per contract, per side
Mutual funds$14.95 per trade
Bonds$14.95 + additional $5 per bond
Inactivity fee$50 annually if you have less than $2,000 in your account or make fewer than 5 trades within 12 months
Sending wire transfer$25
Outgoing account transfer fee$125
IRA administration fee$35/year
Crypto maker trading fee0.025%-0.35% + $2
Crypto taker fee0.11%-0.60% + $2

Is TradeStation legit?

TradeStation was formed in 1982 as Omega Research. It launched its trading platform in 1991 and is headquartered in Plantation, Florida. The company is now owned by Monex Group, a large online financial services company based out of Japan. TradeStation is a member of the Financial Industry Regulatory Authority (FINRA), the Securities Investor Protection Corporation (SIPC), the Chicago Mercantile Exchange (CME) and the New York Stock Exchange (NYSE).

TradeStation’s platform is easy to use

Here are some of the tools you can use to trade with on TradeStation:

  • Simulated trading
  • Stock watchlist
  • Market scanning tools
  • Customizable charts
  • Build your own trading tools
  • Market insight

TradeStation‘s app

TradeStation offers a mobile app for iOS and Android. The app is almost identical and as robust as its desktop offering. You can use advanced charts, trade off of them, test strategies or read the news.

TradeStation introduction

TradeStation’s app store reviews

Google Play app reviews3.9/5 stars, over 100k downloads
Apple App Store app reviews4.5/5 stars based on 16.6k ratings

TradeStation‘s desktop tools

Its professional-grade desktop platform, TradeStation 10, includes the following powerful tools, designed with active traders in mind and offering a level of customization that’s hard to beat:

  • RadarScreen. Set parameters such as chart patterns or indicators and RadarScreen will scan up to 1,000 stocks for trading opportunities. This can simplify the search for stocks that have a particular technical setup, like bullish reversal patterns or double tops.
  • EasyLanguage. TradeStation‘s programming language allows you to create your own custom indicators and trading applications or test trading strategies.
  • Strategy back-testing. TradeStation lets you back-test trade ideas across stocks and futures with decades of historical market data.
  • Matrix. Matrix is TradeStation‘s name for its Level 2 market data, which allows you to see the prices at which orders are waiting to be executed. Unlike most of TradeStation‘s other research tools, Matrix can be used on TradeStation‘s web platform.
  • OptionStation Pro. An options analysis application that lets you build options chains — a listing of all available options contracts for a given security — and analyze options strategy scenarios before placing trades.
  • Simulated trading. This feature allows traders to test strategies with hypothetical money using simulated market data.

TradeStation’s customer support

TradeStation can be reached by:
  • Email support
  • Phone
  • Live chat

How to open an account with TradeStation

  1. Click the “Sign up now” button below and select Open Account from the top menu.
  2. Select Sign up, enter your personal information to complete your profile and provide login credentials.
  3. Configure your account, and provide your date of birth, Social Security number and residential address.
  4. Provide your employment information and financials and trading experience.
  5. Complete the necessary account agreements and submit your application.

Eligibility and required information

  • At least 18 years old
  • Valid phone number and residential and email address
  • Be a US resident with a valid Social Security number or taxpayer ID

    Sign up now

    How safe is TradeStation?

    TradeStation is a regulated broker-dealer registered with the Securities and Exchange Commission (SEC). It’s also a member of FINRA, SIPC, CME and NFA. The Securities Investor Protection Corporation (SIPC) protects customers if their brokerage firm fails. In an unlikely event it happens, SIPC protects the securities and cash in your brokerage account up to $500,000.

    As for the platform safety, TradeStation‘s mobile app uses touch ID and face ID recognition to log in, which makes it relatively safe.

    Frequently asked questions about TradeStation

    Compare TradeStation to other platforms

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    TradeStation

    ★★★★★

    Finder rating 4.1 / 5

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    Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency


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    Complete signup bonus

    Get $10 when you sign up and deposit $100.

    How we rate trading platforms

    ★★★★★ 5/5 — Excellent

    ★★★★★ 4/5 — Good

    ★★★★★ 3/5 — Average

    ★★★★★ 2/5 — Subpar

    ★★★★★ 1/5 — Poor

    We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

    For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.

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