A US stockbroker, TradeStation launched in 1982 and regulated by the Securities and Exchange Commission (SEC) as well as the Financial Industry Regulatory Authority (FINRA). Customers are entitled for up to $500,000 sponsor protection each account.
In this TradeStation review, we’ll have a complete analysis of this broker. It is known to be safe as it has a long record of accomplishment, reveals its financials and parent company, the Monex Group is enlisted on the Tokyo stock exchange.
TradeStation Trading Fees
Luckily, TradeStation trading fees are not so high. You are free to choose any package given below:
All trades charge a preset $5 per trade. In the case of higher volume trading, it is suggested.
Per-share, the commission is $0.01; however, the minimal amount is $1. It is recommended for frequent trading in a smaller volume.
Trades are charged just like the “per share” option. Well, in case of trading over 100,000 shares a month, fees reduce gradually. For very high volume trading, it is recommended.
Stock Fees and ETF Fees
Generally, TradeStation has low ETF and stock commission.
For US residents, Commission fee trading is available on ETFs and equities, if you pertain for the TSgo scheme. When you trade on margin or short a stock, investment rates or margin rate is charged. Actually, it shows that you lend money or stocks from the broker for trading purposes. You also ought to pay interest for this borrowed money or stock.
TradeStation has an average level of fund fees. It is similar to IB’s fund fee.
Generally, TradeStation has low bond fees in comparison with all other brokers. On the other hand, they are still elevated than IB’s bond fees.
Options fees are also average for the TradeStation.
Futures fees are generally low in TradeStation, but still elevated than its adjoining peers, tastyworks and IB. The trade volume basis the futures commissions, and the more you trade, the less fee you have to pay.
TradeStation offers high non-trading fees because the withdrawal fees are higher. It does not have a deposit or account fee. Yearly, the Inactivity fee for TradeStation is $50 if you use the per trade fee structure.
Undoubtedly, TradeStation is a US broker, but clients from all around the globe can open an account with this broker. Also, keep in mind that if you are a non-US client, you will not have approach to the full features of this broker, such as account types, no-commission trading, and fee structures.
Minimum Deposit at TradeStation
TradeStation review shows that the minimum deposit varies according to the types of accounts.
For Cash account, least deposit amount is $500.
For Margin account, least deposit amount is $2000.
For Day trading account, least deposit amount is $25,000.
For Futures account, least deposit amount is $5,000.
At TradeStation, you can opt from an ample variety of account types.
1. TradeStation accounts for Products
- An equities account allows you to have approach to stocks, bonds, options, ETFs, and funds
- A futures account will enable you to approach to futures
- A futures account will enable you to approach to futures options
2. TradeStation accounts for the Ownership and Taxation
- Individual: Only a single individual is the owner
- Joint: More than one person is the owner
- IRA: Individual retirement account (for US residents only)
- Entity: A business entity is an owner
- Custodial: This is used for minors, e.g., from 18 to 21 years old; however, a grown-up handles the account
3. TradeStation accounts for the Leverage
- Cash Account: Non-leveraged and $500 minimal deposit
- Margin Account: Leveraged and $2000 minimal deposit
Web Trading Platform
In 2018, TradeStation improved its web trading platform. Undoubtedly, it has a nice design and user experience, where beginners and experts can feel comfortable trading. The platform for web trading is available in the English language.
It is user-friendly and has a clear-cut design. Also, keep in mind that the platform is customizable as you are free to choose from 9 layouts and even can make your own. You can resize or move the tabs easily.
- Low ETF and stock fees
- High-quality educational tools
- Great web and mobile trading platform
- No forex trading
- Poor customer service
- Not user-friendly deposit and withdrawal
- Is TradeStation a Regulated Broker?
- Yes, the Securities and Exchange Commission SEC and the Financial Industry Regulatory Authority FINRA regulate this broker.
No doubt, TradeStation is a great broker in the US. It has user-friendly web and mobile platforms with many functions. Apart from this, it also has low stock and ETF trading fees. In the end, education is highly structured.
Whereas, the deposit and withdrawal are not user-friendly, and only bank-transfer can be used. Customer service is also of poor quality. Still, if you like US markets for trading, you can try TradeStation. It is recommended to buy and hold investors with some experience.