What Is TradeStation?
TradeStation is a financial technology company that helps investors make trades of various investment types online with lower fees and offers a wealth of features to help you choose between investment assets.
Should You Use TradeStation?
If you want access to unique features so you can make the most of your investing without a slew of brokerage fees, then TradeStation is a great option.
TradeStation Platforms
With TradeStation, you aren’t limited to a single platform, such as always making trades from your phone or at your desk working from your computer. Here’s a look at the available platforms:
Web Trading
As long as you can access the internet, you can use TradeStation’s web trading platform, whether Windows or Mac.
Desktop
You can use your desktop computer to access the TradeStation website and handle all your trades. The system doesn’t require a specific type of browser.
Mobile Apps
You can easily download the TradeStation’s mobile app to your phone or tablet. The trading app is available for Android, Mac, and Google, so you can make trades from almost any location where you have a data stream. This makes it easy to trade on the go.
TradeStation Features
There are many online trading companies that you can choose among, but the TradeStation’s features set it apart from the pack. Here are a few of the best features you get access to with an account.
Simulated Trading Mode
Not sure about your strategy? The simulated trading mode offers you the chance to see how your strategy works in real-time without an actual investment.
OptionStation® Pro
This feature allows you to make trades and analyze current market trends so that you’re always making smart investments. It provides all the information at your fingertips.
Matrix
This feature is a point-and-shoot order entry tool that makes it easy for you to see your orders and trades in a single location. It puts your orders in context with the current market.
Strategy Back-Testing
With this feature, you can see how your strategy would have done in the past to see if it’s a viable strategy in the future. If your investment strategy is sound, it will stand up in the past and the future.
EasyLanguage®
This is a programming language designed for use by people trading and investing. It makes it easy to create trading strategies and performance indicators.
RadarScreen
This is a tool that scans the market in real-time, looking for trading opportunities that might be a good match for your needs.
Additional Features
You want a trading platform with the best features, and TradeStation doesn’t disappoint. Here are a few more features to consider:
Research and Education
TradeStation offers many articles and resources that you can use to research trading and potential trading strategies or just learn more about investing.
Security
When you’re trading online and adding money to your account, you want to know that the website has the security necessary to protect your information. TradeStation offers outstanding security.
Customer Service
When you have questions or need help with the platform, TradeStation offers customer service to help you manage your account and answer vital questions.
Trading Products
TradeStation isn’t for trading stocks alone. They offer various investment opportunities to help you make the most of your investment funds.
Stocks, ETFs, and Mutual Funds
Stocks, ETFs, and mutual funds are great ways to invest. Although there are some risks, you can make money if you pursue more traditional offerings over a more extended time.
Futures
With TradeStation, you can secure a contract and price to buy a stock or other investment product at a predetermined date in the future.
Options
TradeStation can help you secure an option on a stock, so you decide if you want to buy it later on.
Crypto
You can buy cryptocurrency and digital assets through the TradeStation platform. This is a relatively new type of investment and can be volatile.
TradeStation Accounts
TradeStation has a variety of accounts to meet your needs and current situation, including tax-advantaged retirement accounts.
Individual and Joint Accounts
With an individual account, you can be the sole owner and trader on an investment account or opt for a joint account with another person. The joint accounts are transferable to the other owner if one person dies.
Retirement Account
If you’re looking to save money for the future and the day you can retire, a retirement account might offer you tax advantages. However, there are strict rules on withdrawals on this type of account.
Entity Account
You can open an entity account as a limited partnership, general partnership, corporate, trust, limited liability, and sole proprietorship. This is an investment account that you control, but it benefits others or you alone.
TradeStation Fees and Cost
Of course, before you sign up, you want to know if there are fees and costs involved in opening an account.
TradeStation Trading Fees
There isn’t a fee when you’re trading stocks and other investment instruments. However, you do need to make a minimum deposit of $2,000.
Non-trading Fees
The TradeStation tools cost $99 per month for non-professional traders and $199 per month for professional traders.
How to Open an Account with TradeStation
You can open an account in a few minutes on their website. You’ll need to provide some essential information:
- Legal Name
- Date of Birth
- Social Security number
You also need to fund the account.
