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5 alternatives to TradeStation

If you’re searching for a platform similar to TradeStation, here are some brokers to consider.

Our pick to buy stocks: SoFi Invest

SoFi Invest logo
  • $0 commissions on stocks
  • Robo advisor with no management fees
  • Beginner-friendly platform
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TradeStation is an online brokerage service that offers a professional-level trading experience with powerful trading technology. But its high minimum activity requirements, $150 account service fee and $50 inactivity fee may turn you off. Here are five alternatives that may be a better fit.

TradeStation alternatives

Interactive Brokers

Interactive Brokers

4.3 / 5 ★★★★★

Interactive Brokers has an impressive lineup of advanced charting tools, including international trading info and real-time scans. Its research tools are customizable and fully equipped with hundreds of indicators. It also offers access to global markets, including major exchanges in Japan, India, Germany and Australia. The TradeStation platform currently only runs on a Mac through a Windows emulator. A big factor that makes Interactive Brokers a solid alternative to TradeStation is its desktop platform for Mac OSX designed to operate seamlessly without jumping through hoops. But you'll need a net worth of at least $20,000 to qualify for an Interactive Brokers account.
Account typesBrokerage, Retirement
Annual fee0%
Option trade fee$0 + $0.65/contract, $1 minimum
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures, Forex, Treasury Bills

TD Ameritrade

TD Ameritrade

4.4 / 5 ★★★★★

TD Ameritrade appeals to a variety of investors. Newer traders can access a plethora of educational resources and test drive their trading strategies before risking real money with paper trading. Unlike TradeStation, casual traders won't pay an inactivity fee. And active traders can take advantage of TD Ameritrade's full suite of research tools, including heat mapping, watch lists and technical analysis tools. An extra perk of TD Ameritrade is its advisory services. Speak to a financial professional to help you pursue your financial goals according to the level of portfolio management you're comfortable with. Advisory fees range from 0.3% to 0.9%, with minimum investment amounts starting at $500.
Account typesBrokerage, Retirement, Education, Custodial, Specialty
Annual fee0%
Option trade fee$0 + $0.65/contract,
or $25 broker-assisted + $0.65/contract
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Currencies, CDs, Futures, Forex, Treasury Bills

Webull

Webull

4.7 / 5 ★★★★★

Webull is a discount brokerage firm with a powerful mobile app and zero commission fees. Although Webull has fewer technical indicators and drawing tools than TradeStation, day traders pay less for Level II advanced data than TradeStation. For example, Webull charges $1.99 per month to access Level 2 Nasdaq TotalView, whereas TradeStation's Nasdaq TotalView costs $17 per month for nonprofessionals ($153 for professionals) on top of its required $25 monthly market data package. Webull traders also enjoy increased buying power with competitive margin interest rates. For instance, Webull charges 6.99% for balances up to $25,000, compared to TradeStation's 9.5%. Both platforms require a minimum of $2,000 to qualify for a margin account.
Account typesBrokerage, Retirement
Annual fee0%
Option trade fee$0
Available asset typesStocks, Options, ETFs, Cryptocurrency

Robinhood

Robinhood

4 / 5 ★★★★★

Robinhood is a free, no-frills trading platform that lets you trade stocks, options, ETFs and crypto without commissions or fees. You won't find any account minimums, inactivity fees or annual fees. The app has a simple design and an intuitive interface, making it a good option for rookie investors. Unlike TradeStation, Robinhood doesn't offer in-depth research tools such as stock screeners or options analysis. But you can upgrade to Robinhood Gold for $5 a month to access premium features, including professional research from Morningstar and Level II market data, so you can still make informed decisions on a user-friendly platform.
Account typesBrokerage
Annual fee0%
Option trade fee$0
Available asset typesStocks, Options, ETFs, Cryptocurrency

E-Trade

E*TRADE

4 / 5 ★★★★★

E-Trade is a well-known trading platform with a wealth of professional trading tools. Access free streaming market data, live market commentary and stock screeners. You can also identify trading opportunities for your watch list using over 100 technical studies and more than 30 drawing tools. But where E-Trade shines is its mutual funds selection totaling over 9,000, including over 4,400 no-load, no-transaction-fee mutual funds. Unlike TradeStation, E-Trade also offers low-fee banking services that are fully integrated with your E-Trade investment account. You can view both your investing and savings account in one place and earn competitive interest rates, so your money is always working.
Account typesBrokerage, Retirement, Robo-Advisor
Annual fee0.3%
Option trade fee$0 + $0.65/contract,
or $25 + $0.65/contract for broker-assisted trades
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Futures

Pros and cons of TradeStation

Here’s what makes TradeStation a unique trading platform and a few things to consider before signing up.

Pros

  • Award-winning analytic tools
  • Extensive educational resources
  • Active trader community
  • Commission-free trades for active military, veterans and first responders

Cons

  • Difficult learning curve
  • Requires a $500 minimum deposit for cash accounts and $2,000 minimum for margin
  • Inactivity fees and account service fees unless you meet minimum activity requirements

How to transfer your brokerage account

TradeStation uses the Automated Customer Account Transfer Service (ACATS) to transfer cash and securities electronically. So if you’re breaking up with TradeStation, you should expect to pay $125 to move your funds and close your current one. Steps include:

  1. Completing a transfer form with your new broker.
  2. Your current broker processes the transfer.
  3. Your old broker moves the funds to your new broker within six business days.

Note: You may not be able to transfer your old broker’s proprietary funds.

Compare trading platforms

1 - 7 of 7
Name Product Available asset types Stock trade fee Minimum deposit Signup bonus
SoFi Invest
Stocks, Options, ETFs, Cryptocurrency
$0
$0
Get up to $1,000
when you fund a new account within 30 days.
Winner of Finder’s Best Low-Cost Broker award.
Finder Award
eToro
Stocks, Options, ETFs, Cryptocurrency
$0
$0
FINDER EXCLUSIVE: Get a guaranteed $15 bonus
when you sign up and deposit $100
Winner of Finder’s Best Broker for Beginners award. Not available in NY, NV, MN, TN, and HI.
tastytrade
Stocks, Options, ETFs, Cryptocurrency, Futures
$0
$0
Get $100 - $2,000
when you you open and fund an account with $5,000 to $100,000+
Highly commended for Best Derivatives Trading Platform award.
Robinhood
Stocks, Options, ETFs, Cryptocurrency
$0
$0
Get a free stock
when you successfully sign up and link your bank account.
Make unlimited commission-free trades, plus earn 4% interest on uninvested cash in your account with Robinhood Gold.
Public.com
Stocks, ETFs, Cryptocurrency, Alternatives, Treasury Bills
$0
$0
Get up to $300 in either stocks or crypto
when you use code FINDERUS to sign up and fund a new account.
Diversify your portfolio by trading stocks, ETFs, T-Bills, crypto, rare collectibles and more.
JPMorgan Self-Directed Investing
Stocks, Bonds, Options, Mutual funds, ETFs, Treasury Bills
$0
$0
Get $50 - $700
when you open and fund an account with $10,000 - $250,000+
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
E*TRADE
Stocks, Bonds, Options, Mutual funds, ETFs, Futures
$0
$0
Get up to $600 or more
when you open and fund a new account.
E*TRADE offers commission-free stocks, access to mutual funds and advanced trading tools. Other fees apply.
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