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TradeStation Online Stock Brokers Review


ConsumersAdvocate.org Rating: 3.5 / 5 (Very good)
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Founded as Omega Research Inc. in 1982, TradeStation is a Florida-based trading technology and online electronic brokerage company that provides services to consumers in the U.S. and worldwide. Their signature product is a trading and analysis platform available as a mobile application exclusively in the U.S and as a Desktop platform worldwide.
 
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How is TradeStation rated?

Breakdown

3.5/5
Investment Products
3.5/5
Features
3.5/5
Pricing and Fees
3.5/5
Customer Support and Reputation

Overall Rating: 3.5 / 5 (Very good)

TradeStation is a formidable online brokerage company for several reasons. Aside from having over three decades of industry experience, TradeStation provides state-of-the-art technology that is both accessible and affordable, offering nearly every investment product available and a wide variety of product and service features at little to no cost. However, there are extra fees for more sophisticated financial services, high-volume traders, and others but these are properly disclosed and mostly apply to more hard-core traders. TradeStation also provides users with a wealth of financial information in their Market Insights page that is sure to be useful for traders of all kinds. Whether you’re a seasoned trader or just starting out, TradeStation is an excellent choice for an Online Stock Broker.

TradeStation Features

Features - 3.5 / 5

TradeStation offers a wide selection of investment products across various account types, all of which are accessible through their many mobile apps and their Desktop platform. Though the platform can be daunting for first time users, the company offers thorough tutorials on their products. Their products are ultimately designed for traders of all types, though all trading requires a certain amount of attention and engagement. Notably, TradeStation has an incredible amount of information, tools, and resources available for free on their website that demystifies some of the more arcane aspects of the industry.
Portfolio Management
Self-Directed
Managed
Investment Products
Stocks
ETFs
Options
Mutual Funds
Bonds
Futures
Types of Accounts
Brokerage
IRA
Roth IRA
SEP IRA
Mobile App
Yes
Margin Lending
Yes

Financial Advisors

While not officially licensed financial advisers, TradeStation has a robust Market Insights section, full to the brim with information on Market Analytics, FAQs, Financial news, blogs, and recent and upcoming events, all to help keep their users in-the-know. https://insights.tradestation.com/

Trading Tools

Desktop platform, Web trading, In-house Mobile App Store, Market Insights and Research, Trading FAQs, and Product tutorials

Broker Physical Locations

New York, NY; Chicago, IL; Richardson, Texas; London, England; Sydney, Australia; and Costa Rica

TradeStation Fees and Commissions

Pricing and Fees - 3.5 / 5

The company’s two main pricing structures, TS GO and TS SELECT, differ in funding requirements and platform availability. A TS GO account can be opened without a minimum deposit but trading surcharges will apply if the consumer is using the Desktop platform. A TS SELECT account has a minimum deposit of $2,000 but users will avoid the higher Desktop fees. Broker-assisted trades and Mutual Fund trades carry a $50 and $14.95 fee, respectively. However, for more sophisticated financial services and for high-volume traders, there are a number of fees that could apply. Nevertheless, TradeStation does disclose nearly every possible fee on its website and has free customer support by phone and email, should any problems arise.
Trade Cost/Commission
$0.00 commission + between $0.50 and $1.50 in costs depending on asset class and account type for the first 10,000 shares
Minimum to Open Account
$0.00 for TS GO, $2,000 for TS SELECT
Fees
Transfer Fee
Closing Fee
Inactivity Fee

Fees (Additional Info)

There is an annual inactivity fee of $50 for accounts that don't maintain an average end-of-month equity balance of $2,000 or have performed at least five trades during the year following the date when the account was first funded. For more detailed information on closing, transfer, and service fees please visit the following links: https://www.tradestation.com/pricing/ https://www.tradestation.com/pricing/service-fees/ https://www.tradestation.com/pricing/exchange-execution-and-clearing-fees/

TradeStation Financial Strength and Customer Experience

Customer Support and Reputation - 3.5 / 5

TradeStation has been in business over three decades, building a solid reputation as being a favorite among frequent traders. It boasts high marks from sites like Investopedia and NerdWallet, and is favorably ranked in the Better Business Bureau and TrustPilot. Their customer service hours are a little case-specific, so we encourage users to check the contact information but, their response times are quick and their representatives professional. The app can be difficult to get used to but TradeStation hosts two channels on YouCanTrade.com, where users can learn the basics of the application or take a more in-depth look at how to make the most of the TradeStation apps while learning about the industry. Further customer support and helpful FAQs can be obtained through their website or by contacting TradeStation through phone or email. https://www.youcantrade.com/channels/getting-started-with-tradestation/ https://www.youcantrade.com/channels/tradestation-master-class
Year Founded
1982
SIPC Membership
Yes
BBB Rating
A-
BBB Total Complaints
4
BBB Resolved Complaints
4
Trust Pilot Rating
3.2 out of 5
Consumer Financial Protection Board (CFPB) Complaints
0
Live Help 24/7
No
Customer Support Hours
https://www.tradestation.com/contact-us/
Contact Methods
Phone
Email
Chat
Date Collected
2020-01-27

Company Profile

Full Name
TradeStation Online Stock Brokers
Company Website
https://www.tradestation.com
Headquarters
8050 Southwest 10th Street Suite 2000, Plantation, FL, 33324
Mailing Address
8050 Southwest 10th Street Suite 2000, Plantation, FL, 33324

Disclaimers

https://www.tradestation.com/important-information/

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