Tradestation Rating: 
Overview of Tradestation
Based in Florida, TradeStation has been offering brokerage accounts and powerful software for over 20 years to clients worldwide. This review will cover key aspects of the brokerage firm.
Investment Lineup
TradeStation offers self-directed accounts for both taxable and tax-deferred trading. There are no advisory services or financial planning options. Available tax structures include:
- Trust
- Individual
- Joint
- Corporation
- IRA
- Limited partnership
- LLC
Regardless of the tax structure, each account can access a wide range of investment products, including:
- Stocks
- Funds (closed-end, mutual, and ETFs)
- Options
- Futures and options on futures
- Bonds
TradeStation accepts applications from both U.S. and international residents, allowing all to trade the same range of assets. Beyond U.S. exchanges, TradeStation partners with Interactive Brokers to provide access to foreign exchanges and more asset types, such as forex, for both American and non-American clients.
TradeStation holds securities (but not other products) under SIPC insurance with the standard $500,000 coverage. There’s also additional SIPC protection through Lloyd’s of London, providing up to $24.5 million per customer and $300 million in total.
Minimums and Fees
TradeStation offers different pricing for U.S. residents and international clients.
U.S. residents pay no fees for online trades of stocks and ETFs, though there are conditions, such as:
- Stocks must be priced above $1
- $25 fee for broker-assisted trades
- 0.5¢ per share for orders over 10,000 shares or for direct-routing orders
Futures and options on futures cost $1.50 per contract per side, while options are priced at $0.60 per contract. Treasury trades cost $50.
International clients follow the same pricing, but stocks, ETFs, and options have a $5 base charge. There’s no minimum deposit to open an account, but funding is required to access some trading platforms, as discussed below.
TradeStation charges a $50 inactivity fee, which can be waived with a $2,000 balance or at least five trades per year.
Real-time Level I data for equities, futures, options on futures, indexes, and equity options is free. Additional data packages are available at monthly rates from $0 up to $131, depending on the selected bundle.
Margin Trading
TradeStation offers margin accounts in addition to cash accounts. Margin accounts allow for trading with leverage, with up to 4:1 leverage for day traders on many securities for both long and short positions. Some assets have higher margin requirements, which are listed on TradeStation’s website.
TradeStation’s margin schedule has two tiers: balances below $50,000 are charged 12.5% annually, while balances between $50,000 and $500,000 are charged 11.5%. Rates for balances over $500,000 are negotiable.
Website
TradeStation’s website may not be the easiest to navigate. The Accounts tab at the top of the site provides account management tools, including balances, gains/losses, positions, and other key details.
The site itself lacks research and trading resources, but there’s a blue trade button in the upper-right corner that provides access to different platforms, including securities and futures options. Each platform requires the relevant account type (securities, futures options).
The securities platform is available in both live and simulated modes and includes tools like:
- Vertical price ladder for quick trades
- Horizontal trade ticket for more advanced orders
- Full-screen charts with many features
- Options window with multiple integrated spreads
- News articles from Benzinga
Mobile App
TradeStation’s mobile app recently received an update. It has a new layout but retains most of its tools. However, horizontal charting is no longer available. The options, news, and ladder windows seen on the website are available for each security profile on the app. At the top of each profile, icons allow users to add assets to watchlists or set up alerts.
The order ticket includes the same advanced order types as the horizontal ticket on the browser platform. These include:
- Bracket orders
- Trailing stop
- Limit
- OCO (order cancels other)
- OSO (order sends other)
Upcoming earnings releases are displayed under the Events tab on the Markets page. However, the app does not support mobile check deposit or live streaming video news.
Desktop Program
For the most complete trading experience, TradeStation 10 serves as the company’s flagship software, offering high-level tools.
The platform includes built-in layouts, called workspaces, such as:
- Futures Trader
- Market Scanner
- Find a Trade Idea
- Day Trader
Users can customize layouts or build their own. Multiple charts can be displayed in a single layout, or a single chart can be expanded to full screen, with many tools like technical studies and drawing gadgets available.
The Apps tab in the upper-left corner provides access to add-ons that enhance the TradeStation 10 experience. Some examples include:
- Intraday short locate
- TSAlgos
- OptionStation Pro
- Walk-Forward Optimizer
Day and Swing Trading
PDT Rule: Securities accounts need at least $25,000.01 in equity to day trade. Futures accounts do not have this requirement.
Level II quotes: Available on TradeStation 10.
Shorting: TradeStation clients can short both securities and futures. The platform provides dedicated buttons for short selling. The website has lists for easy-to-borrow and restricted securities.
Direct-access routing: TradeStation offers multiple routing options, though these may include additional fees.
Routing fees and rebates: Maker-taker fees for securities trades are no longer available at TradeStation.
Extended Hours: TradeStation clients can trade securities from 8:00 AM to 8:00 PM, with longer hours for futures and cryptocurrencies.
Banking Features
A major limitation of TradeStation is the lack of cash-management tools. There are no bank accounts or hybrid accounts that combine banking and securities services. However, TradeStation’s website offers easy ACH or wire transfers for moving funds.
Customer Support
Customer service options can be accessed under the Support tab on TradeStation’s website. Here, you’ll find phone numbers for various departments like securities and futures trading. Trade desks are open whenever the markets are, with 24-hour access for futures trading and weekday hours for securities trading.
General account services are available during the week from 8:00 AM to 5:00 PM (Florida time). There’s also a chat widget available during these hours.
Other Services
Initial Public Offerings: Available through a partnership with ClickIPO.
Fractional-share Trading: Not available.
DRIP Service: Not available.
Individual Retirement Accounts: TradeStation offers IRAs, including Roth, Traditional, SIMPLE, Rollover, and SEP accounts. Futures IRAs come with high fees, while securities IRAs have a $35 annual fee and a $50 termination fee.
Periodic Mutual Fund Purchases: Not supported.
Our Recommendations
Mutual Fund Investors: TradeStation lacks a mutual fund search engine, though mutual funds can be traded on the website (with a $14.95 fee). Consider Firstrade instead, which has a search tool and no transaction fees.
Beginners: TradeStation is tailored for experienced traders. Beginners might prefer Robinhood.
Active Stock and ETF Trading: TradeStation is a solid choice for frequent stock and ETF trading, especially with its desktop platform.
Long-Term Investors and Retirement Savers: Although TradeStation has IRAs, it lacks extensive planning tools. Charles Schwab provides financial advisors, retirement calculators, and more.
Small Accounts: TradeStation’s inactivity fee may not be ideal for small accounts. Webull doesn’t have such a fee.
Tradestation Review Summary
While TradeStation has strong features for experienced traders, it also has limitations in certain areas. It’s a good choice for seasoned investors.
Updated on 5/20/2025.
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