TradeStation is one of the most popular online trading platforms available today. It has a wide variety of features that can be used for both novice and experienced traders. Some of the key pros of TradeStation include its user-friendly interface, its comprehensive data-collection capabilities, and its robust charting tools.
However, there are some cons to consider as well. For example, it can be costly to use TradeStation, and its fees may be higher than those of other similar platforms. Overall, though, TradeStation is a highly reliable and versatile platform that can help you make profitable trades.
Alternatives to TradeStation
- Active investors asking around for a broker is recommended to explore Interactive Brokers, a name that also caters for active traders.
- The cryptocurrency option is an ideal alternative for people that want to trade cryptocurrencies, but you can get that exposure at Robinhood or Webull.
- Novice investors will want to be sure to take a look at Fidelity Investments, which houses a great deal of resources for who have just begun in the market.
TradeStation Review (Platform)
TradeStation is a popular trading platform used by investors and traders around the world. The platform offers users a variety of features, tools, and resources to help them trade stocks, options, ETFs, and futures. In this TradeStation review, we’ll take a look at some of the key features of the platform and how it can benefit investors.
TradeStation Pros
One of the biggest benefits of TradeStation is its powerful analysis tools. The platform offers charting capabilities that are on par with or better than those offered by other leading platforms. It also provides extensive scanning and filtering tools to help you find potential investment opportunities.
TradeStation also offers a wide range of order types and execution options. This gives you flexibility in how you trade and allows you to take advantage of different market conditions.
TradeStation also has a well-deserved reputation for customer support, which is available around the clock.
TradeStation Cons
Account fees
TradeStation can charge you with a number of fees for its services:
- The brokerage imposes a $50 charge each year if you have not been active 6 transactions in the previous 12 months. (Many other brokers have done away with this charge).
- The broker charges $35 each year for keeping every IRA account and $50 for terminating an IRA.
- Outgoing account transfer Fee: $125 (too high!).
Mutual Funds
- TradeStation selection of available mutual funds is positively scarce, with only 2,000 selections, in contrast with more than 10,000 at other brokerage firms.
- Unlike typical brokers, TradeStation charges $14.95 to buy or sell a particular mutual fund.
» Learn more: Mutual Funds: Everything you need to know.
TradeStation Review Conclusion
TradeStation has been around for a time and is one of the most popular trading platforms in the world. The platform offers a wide range of features, including options trading, technical analysis tools, and a variety of order types.
However, there are some downsides to TradeStation: the platform can be quite expensive and new traders may find the learning curve a bit steep, but with time and patience, they will be able to take advantage of all that TradeStation has to offer.
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