Since it has arrived into the trading scene in the year 1982, TradeStation has become one of the chosen platforms for trading as it continuously prides itself as a leader in trader technology. It has one of the more robust platforms in the market and they are easily available for traders everywhere. They have more than 30-years of experience to throw at casual and professional traders alike. All of their expertise is even available to this day and in an online-connected software to provide tech-hungry individuals to never miss out on trading events.
TradeStation is the Leader in Many Traders’ Hearts
To start, TradeStation offers support for all trading types. These include forex and futures. They do require their clientele to purchase real-time data feeds to allow for trading. Therefore, it does cost more than many of its competing trading platforms. There is a main fee (which their clients should always be aware of) of $99 which is charged on a monthly basis. However, this can waived only if there is a certain level of activity which needs to be hit, or the account reaches $100,000. For equity traders, there should be at least 5,000 shares per month that needs to be traded in order to waive cost. This benefit will also become available to options traders but 50 contracts are a necessity.
Even though they demand more cash as compared to other trading platforms, they still offer very competitive commissions schedule, even when placed against larger, full-service brokers such as TD Ameritrade, Charles Schwab, Fidelity, and ETRADE. However, they are still more expensive than other active trading rivals such as Interactive Brokers and Lightspeed.
Also, it should be noted that TradeStation Securities does not accept payment for order flow on equity trades. This is a practice that has been previously listed full-service trading firms to have participated in. It is already a known fact that payment for order flow will negatively impact fill prices. Therefore, this is a huge advantage for the client, but not so much for the company itself.
However, this trading platform offers a bit more difficulty than others which provide supreme ease-of-use. It does offer a bit of research to understand it better, thus this is not recommended for individuals who are still new to the whole trading process.
But when you do acquire a bit of knowledge about trading, then TradeStation can offer its more-than-30-years of knowledge and expertise to you. Hence, they are a leader and in innovator in offering a full-feature trading platform with access to high-power trading tools.