TradeStation Reviews and Complaints

by Adrian, 4/10/2021

Pros:

Cons: Keep making data input mistakes. No response from customer service.

Horrible. Many human errors but no response
This is a horrible broker. Make many things wrong and no response. I don't know why the staff keeps making data input mistakes but nobody checks it and response to you.

Make my address update wrong.
Make my w8ben form wrong in country code.
Error in dividend withholding tax due to wrong country.
Make my 1042 form wrong in country codes.
Online access to w8 ben form always fails due to system problems.

But no response after sending email. Clearly the staff including customer support or back office staffs are not under proper scrutiny.

by jim smith, 4/9/2021

Pros: none. it's a complete scam. The FTC should look in to Tradestation.

Cons: The FTC should look at Tradestation before more people lose their money.

It's trash. They try to act like a real bank, but they don't practice rules of a real bank. The FTC should look at this.

by Robert J. Lee, 30yrs Investing, 3/23/2021

Pros: NONE!!! Not the "Platform", Not the "Customer Service", Not the "Price", -- NOTHING

Cons: Too many to list, but let's start with: THIS IS A SCAM.

This so called "business" has all the hallmarks of a CRIMINAL ENTERPRISE, starting with the "run-around"; "pass-the-buck"; hanging up on the client; changing the rules to get your money; and everybody has a different EXCUSE for every problem -- and there's no end to YOUR "problems".

I thought I could trust the "Trade Magazines" which gave sparkling Reviews, so I'm suffering for believing THEIR LIES.

If anyone is thinking of going to this "business", they can save themselves A LOT OF GRIEF if they simply flush their cash down the commode, because the end result will be the same, and you won't have the associated headache.

Go to E-TRADE for a simple and staight-forward Platform with intuitive and simple trading, and Excellent Customer Service, -- and no I'm not with E-Trade, I'm simply a satisfied customer.

by Brian Haddock, 3/14/2021

Pros:

Cons:

Forget the reviews trying to defend Tradestation - *those* are the fake reviews. I've spent weeks trying to get my money out of my account. I'm convinced that at least their crypto platform is a scam. At first they said I must call to "verify my request". After an hour on hold, the CSR takes my information and says it'll take 3 business days for the transfer to work. I can see the transaction in my online account as "pending". Meanwhile, the funds are locked up while the transfer does its thing. 3 days later, the transfer transaction disappears and I'm back to square one. I call again. Same thing. Over and over. I'm about to contact the FTC.

by david patterson, 3/5/2021

Pros:

Cons:

i knew something was wrong, so i looked up customer complaints, boy, am i glad i visited this site! I am a new potential customer and have been trying for over a week to talk to a live person at the company so i could feel comfortable funding the acct! lol!! tradestation is a joke and so is td ameritrade, neither company has any customer service, worst ever: and they expect people to deposit $ with them!

by Max, 2/2/2021

Pros: Good mobile pla

Cons: No customer service, $14.95 options assignment fee

As of March of 2020, customer service stopped taking phone calls. Live chat requires one to wait at least an hour. Getting anything done by live chat agent is not common. They want you to e-mail. Email takes 15 days to respond to, this is not a joke. More often than not, agent who sent e-mail will not be of help, they tell you to contact chat. They will send customer back and forth between chat and email without getting anything done. Forget selling covered calls or cash covered puts. You get charged $14.95 every time you get assigned stocks.
Then, rainbow of accounts... You want equities, that's one account with a minimum balance required. You want futures? Another account. You want options on futures? Another account yet. Each account has minimum balance and each account has minimum trades... Folks, this is all fine, for 1985. Last I checked, this is 2021. Let's get up to date.

by Gordon, 1/22/2021

Pros:

Cons: Cons

TradeStation is still taking $10 a round turn from me. Today I got the worst fill I've ever had. They got me in at my price alright. The problem: a one share fill on a five hundred share order. Wow they made their money. My other broker charges me around $2 a round turn. I like my chart set up so I've stayed but if fills like this continue to happen I'll be long gone.

by Brian, 1/19/2021

Pros: Platform is OK

Cons: Customer Service

Tradestation's customer service is absolute garbage. They have been going downward consistently over the last year. The chat option regularly starts you in a queue of a minimum of 60 other customers and after you finally get a representative, they quickly and without your knowledge or OK transfer you to another department/representative where you guessed it; you go back in queue for another 60 customers.

If your thinking about using Tradestation, DONT.

Tradestation's horrible customer service negates anything positive that they have. I have decided to leave Tradestation after many years for a platform that gives a damn about their customers. I strongly recommend you look elsewhere as well.

by K, 1/6/2021

Pros: nothing

Cons: they don't have any customer service

1. they locked my account without any notice.
2. Unable to contact the customer service for days. I emailed, called, and contacted the online chat twice. The online agent told me that she cannot do anything for me. Online chat takes many hours of waiting.
3. My account is still locked and no response from the customer service.
4. call back is offline all the time.
5. Tradestation asked me to send them a copy of my social security card and my driver license via unsecured email. This is a sure way to get your identity stolen.
6. Tradestion made an error in transferring funds. As a result, my bank fined me $30. I am unable to contact anybody at Tradestation to resolve this issue.
7. Non-stop informercial emails.

by Mitch, 10/13/2020

Pros: ok platform

Cons: Very Bad Customer Support

The platforms ok, nothing special. But the customer services is very bad. As long as you don't need customer support you will be ok with TradeStation

by Sam, 9/16/2020

Pros:

Cons: Bug in Software which sell customer equity without concent

Your equity will be sold on its own without you knowing and without you initiating sell.
No customer service, no query resolution at first and once you open account you will only loose your money if you are not an expert.

by Jamie, 7/31/2020

Pros:

Cons: Customer service

Worst customer service ever! The woman I spoke to yesterday was unwilling to listen to me. She kept talking over me and would not let me tell her what my concern is. Her only goal in the interaction was to be right.... When I said this to her she informed me the call was being recorded... Well GOOD! I am now waiting for a manager to call me back to resolve my issue however it takes 40-48 business hours for that call (a full week). In the mean time I cannot even trade with the funds in my account. If i had to choose between using this company and waling 700 miles to wall street for each of my trades i would choose the walk! it is that BAD!!! I believe this is a scam and should probably be investigated formally so I requested a formal investigation :)

by Dale Payne, 7/21/2020

Pros: Great platform that I never use. Just simple equity buys and some sells.

Cons: They are never wrong, they do not make mistakes, they have little to no clue what customer service, or how to speak to a customer.

Keep in mind the start of this is your tradestation customer rating. That would be a review by actual experience. My experience over 6 months has been bad communications, poor communication, attitude of disrespect. So novice stay away. And for experienced never need a person to talk to for questions. I am not spam I am real , my experience has been real over the last 6 months. I am now done and have moved to another company. Tradestation took the fun out of trading. If this sounds good to you, then go for it!

by Rick, 7/8/2020

Pros: ez Language

Cons: Support is really bad, statements and confirmations are poorly designed

Customer service is as bad as any I've seen in this industry. I tried to open TradeStation and it got a message I need to sign an agreement before I could proceed but had questions as to why I needed to sign it and if there were any service costs associated with me signing it. Tried to reach out to support, they are not taking any calls for support, I need to either send them an email or request a call-back. I requested a call-back a couple of weeks ago because of a margin call notification I was getting and it took them 4 days before they called me back. I've tried the online chat support and they only deal with sales.

by Bruce, 6/15/2020

Pros: decent broker very good software

Cons: slow customer service

good broker great software. Customer service very slow to get back to you tho.

To European Customer---you are obviously very uninformed how to execute covered puts. You write a covered put you will have to use margin to cover the possibility of having the underlying stock put to you--get yourself educated fella! TS doing NOTHING wrong in that scenerio. Seems most posting here are rookies , novice traders etc. Ive beem w/TS for years and mostly have few issues.

TS is a retail broker--if you are a true daytrader trading stocks rapidly that have momo then you need a direct access brokerage that is dedicated to scalp type daytrading--you will pay commissions but its worth it if that is your style--for all other types of trading TS is very adaquate. Ive been online trading for over 20 years and am a pro trader trading for a living and I use a direct access broker to do my true 1000 5000 10000 share rapid fire trading the momo stock of the minute. TS meets all my other trade needs quite well and the software is very powerful and the 0 commish saves me 1000s.

Most issues I run into with TS and can eventually figure out on my own--I too get frustrated sometimes when the software runs a little slow on open or high volume--doesnt happen all the times but some. Thats why I have a 2nd broker--the direct access broker to handle that situation.
When I do have to use CS -it does take too long usually to get someone to talk to--which is my 1 main gripe with TS--but 99% of the time when I do get a tech they are able to get me squared away--but I know how to ask intelligent questions and understand what they are telling me because I understand all aspects of trading--BECAUSE ITS MY PROFESSION AND MY RESPONSIBILITY TO LEARN AND DO SO!!! And its everyone else`s to do the same. trading is a tuff biz and no one is going to hold your hand--you need to read and educate yourself otherwise find another profession because you WILL eventually donate your account to another trader like me who knows the business..

Most of these negative posts are either spam, idiots who are just slamming TS w/o knowing what they are talking about--or just plain stupid traders who probably have no business trading and lose money trading and need someone other than themselves to blame. Many multi million dollar traders use TS successfully--I know a couple and I can assure you they could trade anywhere they want and pay any price they want to trade--even the Bloomberg Terminal--and they choose tradestation for a reason--it works. So you folks coming in here reading these endless negative reviews need to consider that. Sure TS isnt perfect--no broker is. All brokers will experience some issues from time to time--its a fact of trading. Accept that or find another profession. But TS is as good or better than most--and if you have specific trade needs that TS cant meet--then get a 2nd broker as i have that can meet those situations..simple solutions folks.

Happy Trading

by FredoS, 6/3/2020

Pros:

Cons:

I recently have tried to cancel my account and transfer my positions. This has been going on for3 weeks and has not been completed yet. I have kept all notes what has been needed by them and how. Tradestation’s call backs are horrible and when they do there is bad communication in the business and rudeness. Good luck w them U will need it

by Stan, 6/2/2020

Pros: Best trading platform

Cons: Customer service

I guess happy customers do not write reviews. I'll be an exception. This is the best platform on the market along with TOS. Forget about a few bad reviews - these guys have well over a million customers at least so of course there will be some unhappy clients. Check out reviews for other brokers - it's the same picture. And give them a shot - it costs nothing.

by Sammy, 4/22/2020

Pros: OK software

Cons: Customer Service

This platform is OK..BUT... this is 32 bit software folks..NOT 64 bit. Both TS 9.5 and TS 10 run on a 32 bit format!!!! Thats why is doesn`t run efficiently on a 64 bit system! Customer service is BY FAR the slowest in the industry--I can get an IRS agent on the phone quicker during tax season.

by European Customer, 3/9/2020

Pros: None

Cons: International accounts are not 0 comission. In fact you pay 10$ minimum for each trade (5 to open, 5 to close).

I traded only one time and the Stop Loss wasn't triggered! This was during market hours!!!! Fortunately i was monitoring the trade and was able to close it manually. Now hey rejected my withdrawal request without a reason, and didn't even sent me an email to contact someone to resolve it!!! It was very easy to open the account, and they sent me an email everyday to fund my account detailing how to do it and with a direct email contact with someone from the support. Now that i want to WITHDRAW, they REJECT and GIVE ME NO REASON, for it and NOT EVEN A CONTACT!
To sell a cash covered put they require Margin and 5000$ account even if the value of the put is only 200$ or 300$! Unreal

by S, 12/13/2018

Pros: None

Cons: Worst customer service I have ever experienced at any broker.

I have had accounts at E-Trade - good customer service. At Ameritrade - great customer service. ( excellent platform)
Fidelity - great customer service. And other brokers as well.

For some reason Trade Station has made a conscious definite decision to not care at all about customer service. You will wait on hold for a very, very long time.

They know this and they simply do not care at all or it would not be like this. Yes, the platform is good but at the expense of zero customer service. Not worth it. Go to Ameritrade.

by John, 9/7/2018

Pros: Nothing

Cons: Terrible Service

Terrible service, bad manners, slow answering from support, long hold times, bad software tutorials. Before you even think about transferring 1 cent to them, call their support 3-5 times at different times of the day. No manners, bad support, lack of support and all. Wouldnt + dont recommend them. Pulled out all my funds after about 2 weeks. Would not recommend them at all.

by John R, 8/21/2018

Pros: None

Cons: Too many to list

Customer support is horrible and they change policy with out notifying their clients.... Shameful behavior...

by DayTrader, 6/19/2018

Pros: You can automate your trades

Cons: Rude Customer Service

Their customer service are not really helpful and so rude.

by BestTrader, 3/23/2018

Pros: Platfrom

Cons:

Good fills, cheap commission, great experience if you know how to use the platform.

by Brian, 2/15/2018

Pros: Charting

Cons: No European equities

90% of these reviews are just plain fake news. I'm a professional trader, who has multiple brokers and I think tradestation is the cream of the crop. I've never had a crash. I move funds weekly. I've never had a wire just vanish into thin air. I've had more problems with TD ameritrade and fidelity. But on the flip side if you need hand holding go to TD Ameritrade, they will talk you through the wire process haha

by Lauri, 2/7/2018

Pros:

Cons:

I have traded with TradeStation for approximately 5 years. I've never had a good customer service experience. Multiple times, they have told me that a change on account #1 will not affect my second account, but every time, it affects my second account. So, today, I cannot access my money in account #2 because of a change on account #1. After 30 minutes on hold to talk to a customer service rep and receiving another customer service rep that did not seem to know the issues, I finally called back to close both accounts. Frustrating!!!

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