Overall, TradeStation is a trustworthy broker to invest with and utilize its trading services. TradeStation offers traders access to several platforms which allow them to buy or sell foreign currencies. TradeStation is strictly regulated by the Securities and Exchange Commission, or SEC, and the Financial Industry Regulatory Authority, or FINRA.
Tradestation at a glance
| Broker’s Name | TradeStation |
| 📍 Headquartered | Plantation, Florida |
| 📅 Year Founded | 1982 |
| ⚖️ Regulating Authorities | FINRA, SEC |
| 🌐 Countries not accepted for trade | None |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 🚀 Sign up bonus | Yes |
| 📈 Maximum Leverage | Leverage is often mentioned but no ratio is ever indicated |
| 💰 Minimum Deposit | $0 |
| 💳 Deposit Options | Only wire transfer |
| 💳 Withdrawal Options | Only wire transfer |
| 💻 Platform Types | Desktop platform, web trading platform. |
| 📱 OS Compatibility | Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad. |
| 📈 Tradable assets offered | Stocks, Bonds, Mutual funds, Exchange-traded funds (ETFs), Options, Futures, Cryptocurrencies. |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | Monday – Friday 8:00 a.m. to 8:00 p.m. ET |
| 👉 Open a account | Click Here |
Tradestation Review – 20 key points quick overview:
- Who is TradeStation?
- Tradestation Safe or scam
- Tradestation Pros and cons
- Tradestation Leverage
- Tradestation Accounts
- Tradestation Market instruments
- Tradestation Fees
- Tradestation Deposit and withdrawal
- Tradestation Trading platforms
- How to open an account
- Tradestation Customer support
- Tradestation Education
- Tradestation Research
- Tradestation Awards
- Tradestation vs FXGlobe vs XM – A Comparison
- Tradestation Current Popularity Trend
- Tradestation Customer Reviews
- Conclusion
- Disclaimer
- FAQ’s
Who is TradeStation?
According to research in South Africa, TradeStation is a Forex broker which is based in the United States.
Established in 1982, TradeStation has an impressive track record of superb trading solutions and services provided. It has an exceptional reputation in disclosing its finances and providing transparent fee schedules to its clients.
Its parent company, Monex Group, Inc., is listed on the Tokyo Stock Exchange, or TSE, and it is one of the largest online financial services providers in Japan.
Tradestation Safe or scam
Before choosing a broker to facilitate the trade in numerous financial instruments, it is imperative for traders to research, investigate, and evaluate the level of safety and regulation that a broker has.
This is to ensure that the broker is safe and secure and that the necessary security and safety measures are in place not only to protect the funds of the trader but to ensure that the trading environment they protect is secure.
Should TradeStation become unable to meet its financial obligations in the case of bankruptcy, and or any other event, eligible clients can qualify for up to $500,000 (cash up to $250,000) investor protection per account.
To ensure a secure trading environment, TradeStation makes use of two-factor authentication, or 2FA, and biometric login on mobile devices.
In addition, TradeStation also carries Securities Investor Protection Corporation, or SIPC, insurance.
Tradestation Pros and cons
| ✔️ Pros | ❌ Cons |
| Strict regulation | Commission-free trading for US Clients only |
| Member of SIPC | Forex and CFD trading not offered |
| Powerful trading platforms offered | MetaTrader not offered |
| Free premium trading tools | Limited funding methods |
| Education resources available |
Tradestation Leverage
Leverage is a tool provided by brokers to help traders magnify their potential profit by allowing them to open larger positions despite their trading account balance.
Although leverage is a useful tool that may lead to great profits, it may lead to an equal amount of loss. Using leverage may pose a great risk of losses incurred that may even clear the trader’s account if it is used incorrectly or misused.
It is mentioned that TradeStation offers leverage, but the website does not offer the exact ratio of leverage provided by the broker.
Tradestation Accounts
Forex brokers issue accounts to their clients with the primary purpose of trading through the various platforms that the broker offers. It also avails traders to specific trading conditions that the broker offers. The type of account along with the number of accounts that a trader may open with a broker will be at the discretion of the specific broker.
It may also depend on the jurisdiction within which the broker operates, the trader’s country of residence, and the regulatory authorities or entities that the broker holds authorisation, regulation, and licenses with.
The structure of accounts differs in the way that spreads, or commissions are applied in addition to the minimum deposit which is required to register a live trading account.
Muslim traders require special conditions, and accounts, which will enable them to trade Forex without swaps, overnight-, or rollover fees, being applied as Muslim traders are prohibited from paying such fees as per the Sharia law which they follow.
There are numerous brokers who adequately cater for a variety of traders, their trading needs, objectives, styles, and trading experience.
Accounts per Financial Instrument
TradeStation makes adequate provision for accounts according to the financial instruments which can be traded.
Equities Account – provides traders with access to stocks, ETFs, bonds, funds, and options.
Futures Account
Futures Options Account
Crypto Account
Traders should note that Crypto was only introduced in 2020 and traders who already have an existing TradeStation account can apply for a Crypto Account whereas new traders must open both a TradeStation account Crypto and an Equities account to access this option.
Accounts per ownership and taxation
Individual Account – where only one trader is the owner
Joint Account – where there is more than one trader who has access to the account
Individual Retirement Account, or IRA, which is only available for US Clients
Entity account – where trading is conducted by a business entity
Custodial Account – for minors aged between 18 – 21 where an adult manages the account on their behalf
Accounts according to leverage
Cash Account – which does not have the option of leverage and has a $500 minimum deposit requirement
Margin Account – which is leveraged and has a $2,000 minimum deposit requirement
Tradestation Market instruments
Brokers offer traders with a great variety of financial instruments which can be traded over numerous asset classes such as Forex, Commodities, Precious Metals, Energy, and Cryptocurrency.
Forex – including minor, major, exotic, and cross-Forex pairs
Commodities – which offers trading in Contract-based tradable goods
Indices – which are either equity or stock indices
Precious Metals – which includes gold, silver, platinum, and other metals which can be traded on a contract-base
Energy – such as gasses, oil, and more
Cryptocurrencies – such as Bitcoin, Ethereum, and others
TradeStation offers the trade in the following form the above:
Stocks, Bonds
Mutual funds
Exchange-traded funds (ETFs)
Options
Futures
Cryptocurrencies
Tradestation Fees
Different brokers have different fee schedules and trading costs depend on factors revolving around the spread, commissions, and margin requirements. The spread in a Forex pair is the difference between the bid and ask price which is expressed in pips. A pip is the smallest increment that an exchange rate can move.
Margin requirement, or margin, is the number of funds that need to be present in the trading account which will allow a trader to open a position or number of positions.
The margin is calculated according to the current price of the base currency against that of the US Dollar, the size or volume of the position, and the leverage which is applied to the trading account.
Commissions are charges or fees which are applied by the broker in return for the services that they deliver as facilitators of the trade. These commissions may be fixed, or tiered, and can depend on the financial instrument or Forex pair being traded.
Some brokers offer wider spreads but charge lower commissions whereas others have tighter spreads but higher commissions. The trading fees charged depend on the broker and it is imperative for traders to ensure that they thoroughly research trading and non-trading fees when choosing a broker to avoid incurring unnecessary, or hidden fees.
TradeStation does not charge commissions where Equity, ETF, or OTCBB, or Penny Stock, is traded for the first 10,000 shares in the order. Should shares be traded over this amount, a $0.005 fee is charged per share.
There may be other commissions applicable with this broker although this is not indicated on the website.
TradeStation waives an inactivity fee of $50 on the TS Select and TS Go accounts.
Tradestation Deposit and withdrawal
The minimum deposit required to register for the new TradeStation TS Go Pricing plan is $500 while it is $2,000 for the TS Select pricing plan.
Traders only have the option of making use of bank transfer when either depositing or withdrawing. US Clients have the option of making use of cheque through which deposits into the trading account can be made.
Both deposits and withdrawals can be made by using a Crypto-wallet, and the following cryptocurrencies are supported:
️ Bitcoin, BTC
️ Bitcoin Cash, BCH
️ Ethereum, ETH
️ Litecoin, LTC
️ USD Dollar Coin, USDC
️ Ripple, XRP
There is no deposit fee when funding the trading account, but a withdrawal fee applies. Despite the high fee on withdrawals, withdrawals are processed quickly.
When registering an Equities account, traders can only open the account in USD. When registering a Futures account, traders have the option to use any of the following currencies:
️ USD
️ EUR
️ GBP
️ AUD
️ CAD
️ HKD
️ SGD
️ CHF
️ JPY
When in possession of an Equities account, traders can make use of an Automated Account Transfer, or otherwise known as ACAT. This allows for the electronic transfer of both cash and securities from one account to another financial institution.
TradeStation has a withdrawal fee of $35 for non-US clients and a fee of $25 for US clients.
Traders should note that third-party payments are prohibited and that withdrawals can only be made into a bank account which is in the same name of the trading account.
Tradestation Trading platforms
A Trading Platform is Forex trading software that is offered to traders by the broker through which trades can be executed. Some brokers make adequate provision for a proprietary platform instead of making use of a third-party developer.
TradeStation provides traders with access to the following trading platforms:
TradeStation 10 – which is TradeStation’s own proprietary trading platform.
A web-based platform, and
FuturesPlus – which is a trading platform to be used when trading futures.
How to open an account
Traders can register a live trading account by selecting ‘Open Account’ from the banner located throughout the TradeStation website. The process is done online but may take up to several days to be approved.
Step 1 – Visit the TradeStation Website
Visit the official website of TradeStation.
Step 2 – Click on the “Open Account” tab
On the top right of the menu, click on the “Open Account” tab to start the process of opening an account.
Step 3 – Fill out the registration form
Fill out all the required details to finish setting up your account
Your account has been created.
While completing the application form online, traders will be required to enter personal information, employment information, financials, and trading experience.
Traders must also read, and agree to, the terms along with providing TradeStation consent to use the trader’s personal data for processing.
Once the trading account has been approved, traders must verify their identity by providing proof of identification, a copy of either a passport, driver’s licence, or national ID, in addition to proof of residence.
After this has been verified, the trader will be notified of the status of their application, and when successful, the trading account can be funded, and trading can commence.
Tradestation Customer support
Customer Support is one of the crucial factors that traders need to consider and investigate when choosing a broker through which to trade. This ensures that traders can obtain help on issues in a prompt, professional, and helpful manner whenever they need it. TradeStation’s customer support can be contacted either through phone, email, or Live Chat from Monday to Friday, 08H00 to 20H00 ET.
There is also the option of making use of a ChatBot for general inquiries.
Tradestation Education
Education tools and resources are crucial not only for beginner traders but for more experienced traders as well. When choosing a Forex broker, traders should be familiarized with the trading needs that they have, and brokers should make adequate provision for this.
TradeStation does not provide education services directly but makes great use of YouCanTrade.com, which can be accessed for educational presentations and other materials focused on trading.
Tradestation Research
Traders need access to a variety of research tools and resources to help them refine and improve their trading. Brokers should offer a variety of tools or ensure that trading software offered offers a suitable amount to ensure that trader’s needs can be met.
TradeStation offers a News lab that can be set up according to the trader’s preferences. There is general market news displayed on the TradeStation ‘Today’ page and in-house market commentary is provided and can be accessed on the desktop platform.
Tradestation Awards
Forex brokers are often honored with awards obtained from esteemed organizations, as well as publications. These count substantially towards the reputation of a broker as it highlights key areas where the broker shows exemplary performance.
Rewards such as these are either displayed on the homepage of the broker or can often be found under the ‘About’ section on the website.
Although TradeStation is highly praised and rated by its customers in personal reviews which can be found on the website, there is no substantial information available on the TradeStation homepage regarding any rewards the broker may have obtained.
Tradestation vs FXGlobe vs XM – A Comparison
| 🔎 Broker | 🥇 Tradestation | 🥈 FXGlobe | 🥉 XM |
| 💰 Minimum Deposit | $0 | $250 | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | (none indicated) | 1:300 | 1:888 |
| 💵 Currency Pairs | 55 | 50+ | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
Tradestation Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “Tradestation” is entered into Google’s search engine over a given period of time.
Tradestation Customer Reviews
So far evrything is cool with the…
So far evrything is cool with the service.I would be happy if you could alert clients on intraday margin requirements as they have been changing quite so often such that it sometimes takes traders into margin voilation and penalties.Most of the micro/mini symbols margin requirements should also be regularly kept low enough for small traders.Thanks
Great Platform
I have been using the platform since 2018 till now, it’s super fast and am very satisfied with their services.
This company is very profitable
This company is very profitable
No issue of withdrawing
Instantly payment
Conclusion
TradeStation is a legit forex trading company and is a fully regulated and transparent broker with high operational standards, low trading fees, superior service delivery, helping investors reach their objectives. It caters for all types of traders with different levels of experience.
SPREADEX has a range of financial instruments and markets.
Disclaimer
TradeStation warns traders of the risks involved with trading Forex and CFDs and such risks may not be suitable for all investors.
Traders need to adequately evaluate their risk tolerance, and their willingness to be exposed to such risks. Traders need to evaluate their trading objectives, personal financial situation, needs, and their level of experience before considering trading and investing.
Margin trading involves the potential for great profit, but also an equal loss of risk. Movements in financial markets are unpredictable and therefore TradeStation cannot guarantee a maximum loss which a trader may suffer, according to research in South Africa.
FAQ’s
Trading environment
How many instruments can I trade with TradeStation?
You can trade several different instruments with TradeStation, which includes the following:
Stocks, Bonds
Mutual funds
Exchange-traded funds (ETFs)
Options
Futures
Cryptocurrencies
Which platforms are supported by TradeStation?
TradeStation provides the following popular trading platforms:
TradeStation 10
Web-based platform
FuturesPlus
Does TradeStation offer leverage?
Yes. Ratios are not indicated.
What spreads can I expect with TradeStation?
TradeStation offers various spreads on various accounts. The information pertaining to this is not clearly stipulated and traders are advised to contact Customer Support for more information.
Does TradeStation charge a commission?
Precise information pertaining to this can be obtained by contacting Customer Support.
Is TradeStation regulated?
Yes. TradeStation is regulated by SEC and FINRA.
Is TradeStation a recommended forex trading broker for experts and beginners?
TradeStation offers a suitable trading environment for both beginners and experts.
What is the overall rating out of 10 for TradeStation?
7/10.
Accounts
What is the difference between a demo and live trading account?
A demo account is offered by broker companies and funded with virtual money. It enables a prospective customer to experiment with the broker’s trading platforms and its features, before setting up a real account funded with actual capital.
How long is the demo account valid?
The demo account can be used for 30 days.
Which live trading accounts does TradeStation offer?
TradeStation offers a variety of trading accounts according to financial instruments, ownership, and leverage.
What are the available deposit currencies for a live trading account?
USD amidst numerous others including cryptocurrency.
Deposits and withdrawals
What is the minimum deposit for TradeStation?
Between $500 and $2,000 depending on the option the trader chooses.
How do you make a deposit and withdrawal with TradeStation?
Non-US Clients can make use of Wire Transfer while US Clients can make use of Cheques.
How long does it take to make a withdrawal?
Depending on bank services it may take several days for the money to be available.
Featured SA Shares Writer and Forex Analyst.
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