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TradeStation Review & Rating USA 2021

Is TradeStation Scam Or Legit?

Welcome to our TradeStation USA review! TradeStation has found itself transforming over time into what it is known for today – a reliable, online securities broker firm. Our TradeStation review found that prior to this transition, TradeStation went under a different name and primarily focused on trading software. However, it seems as if this transition occurred under the right conditions, as TradeStation has continued to excel in the online broker industry.

Today, TradeStation offers American and international customers, a wide set of brokerage services that receive positive TradeStation opinions. You’ll find a well-functioning trading platform coupled with a wide selection of trading products on hand. For another great American broker, take a look at our Lightspeed review.

Our TradeStaion review will assess the strengths and weaknesses of this online broker and provide you with all the necessary insight into making the right call of whether this broker is a good match for you! Read on to find out more about the TradeStation open account options and what you can expect to receive.

TradeStation Pro and Con
  • Intuitive and easy-to-navigate trading platforms
  • Trading fees are extremely low with no commission rates on stocks and ETFs
  • Enlightening and educational tools
  • Active and supportive TradeStation trading community
  • Limited deposit and payment methods available
Company
CompanyTrade Station Group, Inc.
Headquarter8050 SW 10th Street Suite ,4000 Plantation ,FL 33324 ,USA
Year of Founding2000
CEOJohn Bartleman
Web Sitewww.tradestation.com
Available LanguagesEnglish
Customer SupportLive Chat, Phone, Email Support
Email[email protected]
Phone+1.954.652.7900
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Verified by-
Payment Methods
Bank Transfer
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TradeStation New Customer Offer

The online business world is awash with new companies, each competing for their share of customers. One way of attracting new customers is by advertising and offering promotional deals and more specifically, sign-up offers. These offers aim at monetizing potential customers and, if packaged correctly, definitely act as an incentive for the customers themselves. A two-way street of sorts. We found such a generous offer during our SogoTrade review, which actively encourages trading.

We noted in our TradeStation review that with one of the TradeStation open account options, you’ll be eligible to claim a cash offer. The size of the cash offer depends on how much you decide to fund your account with. Currently, our TradeStation review has noted that the minimum amount you need to fund your account with is $25,000. You’ll then be eligible for a $100 cash reward. You’ll be able to claim a cash reward up to $2,500. However, you’ll need to fund your account with assets worth $1,000,000 in order to claim the $2,500 reward. For the amounts in-between, you’ll find your cash reward increasing proportionately.

Usability, Look & Feel

As you might come to realize when perusing online broker sites, many of them have very similar layouts. What really makes one stand out from another, is how well information has been grouped together and whether or not you’re able to find sufficient information on any topic of concern.

Our TradeStation review must commend the broker on the initial impression of the website. The color scheme is inoffensive and it is easy to find what you are looking for. Furthermore, our TradeStation USA review must also note the simple layout and fact that our navigational experience was slick. You’ll find all the main headings top-center of the homepage. Each has a drop-down arrow with relevant subheadings and the landing pages provide you with the clarity you’re inevitably looking for.

We did not experience any issues during our TradeStation review with loading, nor did we find any pages that lacked the insightful knowledge we were out to get. If the official website is anything to go by, we’re certainly eager to find out more about the trading platforms and functionality there-of. Having read various TradeStation opinions, we can only deduce that there will be no disappointment in this department. But first, let us take a look at the available TradeStation open account options.

TradeStation Open Account Options

Before you make a decision on whether you’d like to follow up on a TradeStation open account option, you’ll want to know which account types are available. We’ll discuss several of these in more detail in the subsequent paragraphs of our TradeStation review USA.

Individual/Joint Accounts

These two types of TradeStation open account options are the most popular amongst active traders who use the services of this broker. You can choose an individual account which will only have one account owner.

If you’d prefer to share an account with a colleague or friend, then you’d be better off by creating a joint account. The first joint account has the right of survivorship and in the unfortunate case of one owner passing away, all the assets of the account will be succeeded to the remaining owner. The second joint account is a tenants in common account. With this type of joint account, it is possible to have three owners, each owning their own specified percentage of assets. If one owner is to pass away, the existing assets will be transferred to the agreed upon beneficiaries.

A custodial account can be opened for a minor and will be managed by a guardian until said minor is able and willing to take over the account.

Retirement Accounts

There are four different types of TradeStation open account options in this regard. The traditional IRA account which will allow you to contribute tax-deductible income. The second TradeStation open account option is the Roth IRA, which is very similar to the first although contributions are made with after-tax income (tax-deferred growth and tax-free withdrawals). The latter two accounts are known as a SEP IRA and Simple IRA account. Each has a different spin on contributions made by employers for employees and are subject to certain percentage-of-pay and dollar limits.

Entity Accounts

Our TradeStation review will not go into depth about the various entity accounts on offer. We will state that there are entity accounts which include a trust, corporation, general and limited partnership, LLC, and sole proprietorship. For more information on these types of TradeStation open account options, visit the official website and click on ACCOUNTS > Entity. 

Below, you’ll find our in-depth TradeStation review of the available trading platforms.

Trading Platforms

In this facet of our TradeStation review, is it clear that TradeStation has managed to excel and is evident by a plethora of TradeStation opinions and our very own TradeStation USA review. TradeStation offers customers a desktop, web, and mobile trading platform. They are very consistent with their web and mobile platform and provide traders with fantastic trading tools and research functions. Low-latency is the order of the day and you’ll find a swathe of market data and responsive order management and execution at your disposal.

Desktop Trading Platform

This trading platform has delivered upon promises and received high praise from TradeStation opinions. We tended to agree with those opinions during our hands on TradeStation review.  The desktop trading platform has incorporated high-end technology which provides traders with an exciting and unforgettable trading experience. The RadarScreen technology continuously monitors a 1,000 symbols and ranks according to preference and potential. EasyLanguage allows traders to customize their indicators with useful statements and phrases while the Strategy Back-Testing allows traders to back-test and automate ideas using tons of market data.

Web Trading Platform

If you don’t have access to your own desktop, you’ll be able to make use of the TradeStation web trading platform. Log on to your account via any computer with an internet connection. You’ll be able monitor markets, read up on the latest news, place trades, and manage your account with this web platform. Our TradeStation review USA is pleased to note that all the fundamental features have been retained for the web platform.

Mobile Trading Platform

TradeStation has managed to design and implement a mobile app that functions well and is easy to use. The mobile app links with your online account and allows you trade and monitor markets as you see fit. If you’d like to compare with another popular trading platform, take a peek at our SoFi Invest review, to draw a comparison.

The TradeStation app has various tech features such as quotes in real time – all the while fitting neatly onto the screen of your mobile device. You’re able to analyze trade options spreads and customize your strategy accordingly via the app. Mobile alerts will keep you updated and you can place orders with the simple click of a button.

Our TradeStation review has only good things to say about the trading platforms in use and you should find them just as convenient and inspiring. If you’re looking for a streamlined trading experience, you’ve found it with our TradeStation review USA.

Payments

With modern payment methods available, funding your online account is relatively simple. Waiting for payments to clear shouldn’t be a tedious process – that’s why we’ve outlined three payment methods below that should assist you in funding your account with the utmost ease and reduce waiting times.

Wire Transfer: You can link your bank account with your TradeStation account and funds should be received the next business day (ensure you transfer funds before 4pm). If you own an American bank account, you’ll be able to follow the steps and linking your account is straightforward. Keep in mind that the details required differ depending on whether you’re funding your account for equities and options or futures. If you don’t possess an American bank account, you’ll be able to fund your account using one of seven transfer services:

  • TorFX
  • OFX
  • Continental Currency Exchange
  • Currency Fair
  • Transfer Wise
  • OnePip
  • World First UK Ltd

Lastly, TradeStation does not charge a fee for wire transfers. However, your chosen transfer service might and it’s best to double-check this before completing your payment.

Check: You can deposit funds via check. Waiting times are longer (3-5 business days). This payment method allows you to transfer funds from an external bank to your TradeStation brokerage account. Ensure that you transfer funds in USD and make sure you’ve supplied the correct account details. There is no deposit limit and TradeStation does not charge a fee for deposit made via check.

Smart Transfer: This allows you to transfer cash assets to and from your TradeStation account. Funds will be available in 3 days and it’s cost free. There is a limit however, set at $50,000. The great thing about Smart Transfer is that you can access it just about anywhere by accessing the TradeStation Client Center.

Customer Service

In the current climate, TradeStation has limited certain customer service features. Enquiries via telephone are limited to trade-related inquiries. Other questions and requests should be sent via email or through their chat function.

The chat function is displayed on the right of the page and you’ll be able to click on the CHAT ONLINE image. Choose between two options – questions about new accounts or existing accounts – and you’ll then be connected to a TradeStation representative.

You can contact the broker via email or telephone. Make sure you use the correct email address or telephone number as there are different ones depending on your client status and TradeStation open account option.

New Accounts

Retail: Telephone – 800.770.4049 / Email – [email protected]

Institutional: Telephone – 800.579.7616 / Email – [email protected]

Client Support

Telephone – 800.822.0512 or 954.652.7900 (The Trade Desk times vary depending on trading product and be sure to check the website for official time).

International

  • New Accounts: Telephone – 00800 242 78190 (European countries)

954 652 7677 (Non-European countries)

  • Client Support: Telephone – 00800 777 76543 (European countries)

954 652 7900 (Non-European countries)

This host of support options should leave you with a worry free experience at TradeStation. If great customer service is of high importance to you, we recommend you take a look at our latest Vanguard review.

Regulation and Deposit Protection

TradeStation is a regulated broker under American law and adhere to European rules and policy enactment. Stricter laws are being enforced in Europe with regards to data protection and TradeStation has made it clear that their data handling and protocols are circumscribed by this new law. TradeStation ensures that they protect the data of European citizens in accordance with these laws. They hold various SSL Certificates; securely store on-sight data within their databases by way of monitoring and encryption techniques; do not provide sensitive details to third-party entities.

TradeStation is a member of the New York Stock Exchange (NYSE), the Financial Industry Regulatory Authority (FINRA), the Securities Investor Protection Corporation (SIPC), and the Chicago Mercantile Exchange (CME). Due to their active membership within these bodies, it is clear that TradeStation adheres to industry standards and regulatory oversight.

Additional Offers

In addition to the new customer offer, TradeStation has engaged with various stakeholders in an effort to provide promotional causes that satisfy the needs and aspirations of their customers.

From earning extra income to trading more futures with less, TradeStation has a couple of exciting offers at hand. It’s possible to boost your account balance with a fully paid stock lending program. Here, you stand the chance of receiving fully paid or excess margin securities in your account and profiting from interest earned.

Capitalizing on reduced intraday margin rates is also possible, but we’d only recommend this to experienced traders. Find out more about this option by checking out the current promotions on the TradeStation website.

One of the downfalls of this online broker, is the apparent lack of a demo account option. For beginners or would-be traders looking to find out what TradeStation is all about, you are out of luck. The only way of partaking in virtual trading with TradeStation is once you’ve created, and funded, your account. If you’re a novice trader, this might be a letdown. You might like to take a peek at our Stash review to see how a platform aimed at newcomers compares. It doesn’t mean TradeStation isn’t attempting to appeal to beginners. On the contrary, they provide great educational tools for new traders.

Other TradeStation Trading Products

TradeStation has various other products that one can trade with. Specialized sections for bonds, mutual funds, and crypto are available. You’ll also be able to make use of an IPO trading platform! In the past, retail traders haven’t been able to get in on IPOs before the actual shares are listed. Now, you’ll have ground-floor access allowing you to speculate and apply for shares via TradeStation’s conditional ordering service.

For more information on the latest trading products, our TradeStation review urges you to check out the official TradeStation website. Here, you’ll find an abundance of information on all the available products up for trading. Click on the TRADING PRODUCTS tab in the middle of the homepage and you’ll find a drop-down menu with all the available products. Click on a product of your choosing and you’ll find all the necessary information needed to make the right choice.

TradeStation ETF

TradeStation ETF

If you’ve been searching for the best ETF broker in USA, then you’re in luck. ETFs are a popular trading product and have become the go-to product for many online brokers. Exchange-traded funds are much like stocks in the way that they are traded on exchanges as an investment fund. ETFs can consist of stocks, bonds, or commodities. Most of these funds track a stock or bond index and are appealing to investors/traders due to the low cost associated with trading ETFs. They’re also rather tax efficient and as we’ve alluded to, display stock-like features.

TradeStation allows you to trade with ETFs, providing you with access to over 2,000 exchange-traded funds over various industry sectors.

ETF Pricing

One of the great attributes of TradeStation, is their commission-free plans. This means you can trade ETFs without having to pay a commission rate. There are two plans, TS Select and TS Go. Both plans charge a 0% commission rate on ETFs. These plans are only available to US citizens.

Commission-free equities trades are only applied to the first 10,000 shares per trade. After which, each order over-and-above 10,000 will be charged at $0.005 per share.

It’s vital to read the fine print that accompanies any plan or type of account and we urge you to do so before engaging in any trades.

TradeStation ETF Conclusion

If you’re on the market for a commission-free account, and an American citizen, TradeStation has it all. They cover a range of funds over multiple industry sectors all the while charging no commission. Although this might only be true up until a point, it’s a great way of starting your trading career. Check out our Wealthfront review if you’re looking for another broker that provides traders with low ETF expense ratios.

TradeStation Futures

TradeStation Futures

If you understand options trading, you’ll have no issue with futures trading. The main difference being that the buyer is obligated to buy or sell the futures contract at a predetermined price on a specified date.

With futures trading, you’ll have access to round the clock trading and will allow you to diversify your portfolio.

Pricing of Futures

At the most basic level, each pricing plan charges a commission-free rate. However, you’ll still be liable to pay a $1.50 fee per contract, per side for both the TS Select and TS Go plans.

If you prefer to keep your costs low, check out TradeStation Micro E-mini Futures, allowing you to trade with a very low initial capital investment. For more info on this, visit the official website.

TradeStation Futures Conclusion

With competitive pricing plans and associated costs, futures trading with TradeStation sounds appealing. You’ll have access to over 350 futures and futures options that include a range of markets – indexes, commodities, metals, and more. You’re not hindered by pattern day trading rules and it’s extremely easy to short, as there are no short sale restrictions.

TradeStation has a high-end futures trading platform and for non-professionals, you won’t have to pay market data fees. All in all, it sounds as if TradeStation has got it just about right for this trading product!

TradeStation Crypto

TradeStation Crypto

Is TradeStation the best crypto broker in USA? With TradeStation, you’ll be able to use one account to trade multiple cryptocurrencies. At the time of writing, TradeStation offers 5 different tradeable coins via their platform. These include Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and XRP. The potential with TradeStation’s crypto trading platform is extensive. One can buy, sell, and trade all cryptocurrencies simultaneously.

Trading on a crypto exchange can be tiresome. With enhanced features, TradeStation has adapted their platform with innovative tools and functions. A new pricing mechanism has been implemented, which means you won’t pay commission depending on the volume of your trades. Instead, commission is based on the size of your account balance. This is a more innovative approach to TradeStation’s pricing policy.

Secondly, the current execution algorithm provides a lending hand in identifying the best price help. Gone are the days of manual or intricate exchange analysis.

Lastly, there’s a promotional offer running until the end of 2020. Fees are discounted up to 100% per trade. Make use of this offer to capitalize on non-existing fees for the remainder of the year.

TradeStation Options

TradeStation Options

For our experienced readers, it’s most likely not necessary to explain what an option is when considering the financial world. However, for novice traders, you’ll need a quick rundown of this trading product. Options are contracts that give the buyer the right to buy or sell an instrument at a specific price on or before a particular date. The keyword being “right”. Buyers are not obligated to do so, but have the choice if they so wish.

Options trading might be slightly more complex, but it provides traders with more opportunities than trading traditional stocks. Determine your own risk prior to trading and control your position with added flexibility.

Pricing of Options

TS Select and TS Go are the two pricing plans that you can opt for. Both have a commission-free base rate for options trading. However, for basic stock options, you’ll be charged a $0.60 commission per contract on the TS Select pricing plan. With TS Go, there’s a $0.50 commission rate for stock options.

There are costs incurred for index options trading and direct routing of options and you’d be wise to read the fine print of each pricing plan.

Be aware of the fact that there are additional charges for options strategies that call for multiple purchases and sales of options. It is also true that additional costs might apply such as market data fees, premium fees, and service fees.

TradeStation Options Conclusion

TradeStation has a fantastic trading platform for options trading. Not only do they offer a straightforward pricing plan, but there are fantastic research tools optimized for options trading. You’ll have access to informative educational resources and strong technical and customer support.

TradeStation has ensured that options traders have all the necessary tools and functions at their fingertips, creating a great trading environment. If you’ve wanted to embrace options trading, now might be the time to do so!

TradeStation Review - Overall Impressions

Thank you for reading our TradeStation review! It is with great confidence that we can declare this company a reliable and trustworthy online brokerage. They provide traders with a host of trading products and have streamlined the online trading process. From easily opening a TradeStation open account option to funding your account, TradeStation has got it right.

The trading platforms are very stable and allow traders to optimize their trades and customize as they see fit. Operating within the regulatory oversight of various affiliate organizations, you can rest-assure your money is safe with TradeStation.

We hope that you’ve found your next online broker. If so, we wish you the best. For our readers who would prefer to weigh up their options when it comes to the best stock broker in USA, we’ve got you covered. For non-active traders, our USAA investment review found that the brokerage is an appealing broker. As a casual trader, you’d be wise to take a look at our TradingBlock review too.

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