TradeStation Global Review 2024

Is TradeStation Global regulated?

TradeStation Global is a combined product offered by Interactive Brokers and TradeStation International. Both Interactive Brokers and TradeStation International are regulated by the UK's Financial Conduct Authority (FCA).

Is TradeStation Global safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• the background of the broker.

How you are protected

TradeStation Global is an introducing broker of Interactive Brokers UK (IBUK). This means that your cash and assets are held with IBUK.
IBUK is regulated and authorized by the UK's FCA. The protection amount also depends on what you are trading with:

• If you trade with forex, CFDs, non-US stock index options or futures, you are protected by the FCA, up to £85,000.
• If you trade with stocks, bonds, funds or US stock index options, you are protected by the US investor protection, i.e. $500,000, with a cash limit of $250,000.

Our brokerage experts put together a comprehensive guide on the safety profile of TradeStation Global.

Background

TradeStation Global was launched in 2018 as a combined product of Interactive Brokers and TradeStation International. See the review summary at the top of this page for details on what services you get from IB and TradeStation.

• TradeStation International is based in the UK and was established in 2004, while TradeStation itself was founded in 1982.
• Interactive Brokers: Provides the brokerage service and is active since 1978.

Both companies have been around for 30+ years, which means they have made it through multiple economic downturns. This is a good sign for their safety.

Note that TradeStation Global no longer accepts new clients from the EU.
Existing EU clients of TradeStation Global were migrated from Interactive Brokers UK (IBUK) to Interactive Brokers Ireland Limited (IBIE) in January 2021 and are subject to the following fees:
- trading fees: the fee schedule of Interactive Brokers Ireland will apply, not TradeStation Global's fees
- a monthly subscription fee of $15 from March 2021 unless they opt out but that would mean they no longer have access to TradeStation's own desktop platform and are subject to Interactive Brokers's inactivity fees.

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Account base currencies

At TradeStation Global, you can choose from the following 23 base currencies:

This selection is average compared to competing brokers.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

TradeStation Global charges no deposit fees.

However, deposit options are limited, as neither credit/debit cards nor electronic wallets can be used.

Here's all you need to know about depositing money at TradeStation Global and key info on minimum deposit requirements.

A bank transfer can take several business days. You can only deposit money from accounts that are in your name.

The deposit process is as follows:first, you have to submit a request through 'Account Management', after which you can initiate a transaction through your bank.
You can only deposit money from accounts that are in your name.

TradeStation Global withdrawal fees and options

The first withdrawal each month is free of charge. All additional withdrawals have a fee.
Similar to deposits, you can only use a bank transfer for withdrawing funds.

Read this guide with all key info on available withdrawal methods and related fees.

You can only withdraw money to accounts in your name.

The fee for additional withdrawals after the first free one depends on the currency and the type of bank transfer method you use for withdrawal.

How long does it take to withdraw money from TradeStation Global? In our test, the bank transfer withdrawal took 1 business day. You can only withdraw money to accounts in your name.

How do you withdraw money from TradeStation Global?

• First, log in to the Client Portal then click on 'Transfer & Pay' and 'Transfer funds'.
• Select the account you want to use for the transaction.
• At the top of the page, click on the 'Withdraw Funds' tab.
• Select the currency of your withdrawal, then the withdrawal method.
• Fill out the required information.
• Submit your withdrawal request.
• You can see the status of your request in 'View Transaction History'.

Can you open an account?

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TradeStation Global is available in many countries globally. However, some notable countries where TSG is not available are the US, Canada, Australia, Singapore, Hong Kong and Japan. After Brexit, TSG can't accept new clients from the EU and the EEA. Existing EU clients were migrated to IB Ireland's platform.

Read this article on how to get your account started with TradeStation Global.

What is the minimum deposit at TradeStation Global?

The required TradeStation Global minimum deposit is $0.

That is if you use TradeStation Global's web-based Client Portal or the Interactive Brokers desktop platform. However, in order to trade on TradeStation Global's own desktop platform, the broker requires $1000, whichis higher than at many other brokers.whichis higher than at many other brokers.

Account types

You can choose from many account types, including individual and corporate accounts.
The account types offered include IRA and UGMA/UTA account types. This is quite confusing, because such account types would only be available to US residents, who cannot use TradeStation Global.

How to open your account

The account opening process is fully digital but complicated. After your online registration, the account verification took a day, which is fast.
First, you have to go through a 5-step registration process which takes roughly an hour. We did not experience any bugs, but the steps can be quite complicated for less-experienced traders.
The steps of registration are the following:

1. Register your email, then create a username and password.
2. Fill out the form with your personal details, then choose a base currency for your account.
3. Complete the survey on your trading expertise.
4. Accept the general disclosures.
5. Verify your identity with your passport / personal ID card / driver's license and your residency with a bank statement / utility bill / driver's license / credit card statement.

After the successful registration, you can access the Interactive Brokers platforms. TradeStation's own desktop trading platform software will only unlock after a successful deposit of at least $1,000. We think it would be better if a client could test the TradeStation platform with a demo option, without a deposit.

IBKR Mobile is available both for iOS and Android. In this review, we tested it on Android.

The mobile trading platform is available in several languages.

Look and feel

The mobile trading app is much like the web platform. Its overall look and user-friendliness lag behind competitors' mobile platforms.
There are some annoying glitches. For example, when we received a bulletin in our inbox informing us of margin requirement changes, we could see half of the text and could not resize the window or scroll.

Login and security

TradeStation Global provides a safer, two-step login for its mobile platform.

You can log in using biometric authentication, which is a convenient feature.

Search functions

The search functions are OK.

You can access the search button easily from any menu.
When you type in the asset you are looking for, the app lists all asset types. For example, if you search for Apple, you can choose between Apple stock, futures, options, warrants, as well as CFDs.
After you have selected the product are you interested in, you will be greeted by an information and trading window, which shows:

• Asset market information
• An interactive chart with technical indicators
• Related news
• Some fundamental data
• Summary of the latest analyst report
• The buy and sell buttons that transfer you to the order panel.

Placing orders

TradeStation Global provides many order types on the mobile trading platform.

There are also order time limits you can use:

• Day
• Good till Canceled
• Outside Regular Trader Hours

Alerts and notifications

You can set alerts and notifications on the TradeStation Global mobile platform.

Special feature – Chatbot

The most innovative and exciting function within the app is the chatbot, called IBot. You can use the chatbot to execute or close an order, or to get basic info quickly.

The chatbot understands basic commands, such as “apple price” or “buy 1 apple share”. In addition, you can also search for company fundamentals, like dividend yields or PE ratios. Some of the functions, like displaying a chart, are also available via the chatbot.

Our analysts personally tested TradeStation Global's mobile app, check out their verdict.

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TradeStation Global provides two desktop trading platforms:

• TradeStation's own desktop platform
• Interactive Brokers's Trader Workstation (TWS).

In this review, we tested TradeStation's own platform, which is only available in English. TradeStation Global users can only use TradeStation 9.5 while regular TradeStation users can use the new 10th edition. For this review, we tested the older version.

Installation

After you completed the depositing process successfully, you will get an email that includes the desktop platform credentials and a brief guide on how to install TradeStation. During our test,it took a day for us to receive our credentials after the deposit.
The steps of installation:

1. Download IBKR's Trader Workstation.
2. Log in to Trader Workstation using the Secure Login System, a two-step authentication.
3. Open 'Global Configuration', then click on 'API Settings'.
4. Apply a specific set of settings including special ports.
5. Click on 'Apply', then exit TWS. Relaunch TWS, leave it running in the background, then launch TradeStation and use the credentials from the email TradeStation sent you.

The whole setup process was overly complicated and not user-friendly. We think that an everyday user would find this method difficult and time-consuming.

Look and feel

TradeStation Global's desktop trading platform suits daily traders and professional traders. It is easy to customize and offers a wide range of tools.
If you are a first-timer or long-term investor, you will likely struggle to use its features. It is not intuitive and has an outdated design.

Login and security

TradeStation Global provides a two-step login.

Before you launch TradeStation, you have to open IBKR's Trader Workstation first, which requires SMS authentication.

Search functions

The search functions are OK.

However they are hard to use, as each tab uses a different search feature.

Placing orders

TradeStation Global provides a wide range of order types on the desktop trading platform.

Advanced order types are available for certain products. These include Order Sends Over (OSO) or One-Cancels-the-Other (OCO). You can find these settings at the top of the window, in the toolbar next to 'Symbol'.
It's also a great feature that you can select the order routing, i.e. whether you choose the best execution or select the exchange you want to place your order on.

There are also order time limits you can use on the desktop platform:

• GTC
• GTD
• IOC
• FOK
• OPG

Alerts and notifications

You can set alerts and notifications on the desktop trading platform.

You just have to right-click on the chart on your Workstation.

Portfolio and fee reports

TradeStation Global has clear fee reports.

The easiest way to find this information is on the Client Portal.

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With TradeStation Global, you are trading through Interactive Brokers's trading services, which is a great thing as IB offers one of the widest range of available markets and products among online brokers.
TradeStation Global has a wide selection of product types, from stocks to options, with an exceptional range of ETFs and bonds. Also, there are a few more exotic products available, like warrants and structured products.

TradeStation Global's product selection is great compared to its closest competitors. Both Saxo and Swissquote offer fewer stock markets to trade on.

Stocks and ETFs

TradeStation Global grants you access to more stock markets than its competitors, including notable exchanges like the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE). Smaller exchanges like the Polish or Mexican markets are also available.
Other than stocks, you can choose from more than 13,000 ETFs. This is well above what most competitors offer.

Forex

The FX pair selection at TradeStation Global is vast, with more than 100 pairs available, however, Saxo offers more pairs to trade.

This selection is average compared to competing brokers.

Funds

This selection is great compared to competing brokers. Both Saxo and Swissquote offer fewer fund providers to choose from.

Through TradeStation Global, you can access more than 400 fund providers, including big names like BlackRock. This selection is wider than at most competitors.

Bonds

TradeStation Global has access to an exceptionally wide range of bonds. This includes both government and corporate bonds, but excludes municipal bonds: the latter is only available for US residents. The bond selection is broader than at competitor brokers.

This selection is average compared to competing brokers.

Options

The range of options marketsis also extremely good. Bigger and smaller markets are all included, like the Chicago Board Options Exchange (CBOE) and the Mexican Derivates Exchange (MEXDER).

This selection is great compared to competing brokers. Both Saxo and Swissquote offer fewer option markets to trade on.

Futures

Through TradeStation Global, you can access a vast selection of futures products and markets. Both major and minor markets are available.

This selection is great compared to competing brokers. Both Saxo and Swissquote offer fewer futures markets to trade on.

CFDs

Compared to competitors, TradeStation Global has an average range of CFDs.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

We recommend TradeStation Global for traders and investors looking for low fees and a wide selection of products.

Below you can find links to all aspects of TradeStation Global in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our TradeStation Global fees article.

What about the minimum deposit?

Our ultimate guide to the TradeStation Global minimum deposit is updated regularly.

How to start your TradeStation Global account?

Look no further than our evaluation of the TradeStation Global account opening.

How's their trading app?

Here's our expert view after checking the TradeStation Global trading app.

Is the quality of customer service satisfactory?

All you need to know about the TradeStation Global customer service.

Legit or scam?

Is TradeStation Global legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether TradeStation Global is really free.

Is this broker good for beginners?

We checked it in Is TradeStation Global good for beginners.

Should you buy your silver bullets on TradeStation Global?

Research for silver bugs in the Silver buy on TradeStation Global guide

I want to trade options, are they available at TradeStation Global?

We explored the topic in Can you trade options on TradeStation Global?

What is the minimum account balance at TradeStation Global?

Check out the current account balance requirements at TradeStation Global in our What is the minimum account balance at TradeStation Global article.

Looking for commission and fees data for TradeStation Global?

We collected them in TradeStation Global commission and fees.

How do you withdraw money from TradeStation Global?

We tested it and collected the options and costs in How to withdraw money on TradeStation Global.