Summary

Recommended for traders and investors looking for low fees and a wide selection of products

TradeStation Global is the brand of TradeStation International Ltd, which is based in the UK and is regulated by the top-tier Financial Conduct Authority (FCA).

TradeStation Global is a combined product offered by Interactive Brokers (IB) and TradeStation. Here are its most important elements:

  • The account opening, deposit/withdrawal options, and available products are the same as at Interactive Brokers.
  • You can use both Interactive Brokers's and TradeStation's own desktop platform.
  • TradeStation Global charges its own fees, and offers its own customer support and educational tools.

Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on the NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed, on the Tokyo Stock Exchange.

Best broker for buy and hold

We selected TradeStation Global as Best broker for buy and hold for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts. Check out the complete list of winners.

Overall Rating
4.6
Fees
4.0
Account opening
2.8
Deposit and withdrawal
2.5
Trading platform
3.8
Markets and products
5.0
Research
4.5
Customer service
4.0
Education
1.8

TradeStation Global pros and cons

TradeStation Global has low trading fees. You can access a wide range of products and stock exchanges. In addition, their customer support is fast and helpful.

On the negative side, TradeStation Global's deposit and withdrawal processes could be better, as you can only use bank transfers. Also, a high minimum deposit of $1,000 is required to use the desktop platform, and the available education materials are limited.

Pros Cons
Low trading fees Only bank transfer allowed for deposit and withdrawal
Wide range of products Complicated account opening
Fast customer service Limited education materials
TradeStation Global main features and highlights
🗺️ Country of regulation UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $1,000
🕖 Time to open an account 1 day
💳 Deposit with credit/debit card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 22
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

TradeStation Global review
Fees

4.0
TradeStation Global has low trading fees, especially for stocks and ETFs. It's also great that there is no inactivity fee and the first withdrawal each month is free of charge. On the other hand, mutual fund fees are high.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Low stock and ETF fees
TradeStation Global fees snapshot
Assets Fee level Fee terms
US stock Low $0.007 per share, min. $1.5
EURUSD Average 0.6 bps * trade value; min. $2 per trade
Mutual fund High $25 per trade
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked TradeStation Global's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of TradeStation Global for each asset class. For example, in the case of stock investing, commissions are the most important fees.

We also compared TradeStation Global's fees with those of two similar brokers we selected, Degiro and Saxo Bank. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of TradeStation Global alternatives.

To have a clear overview of TradeStation Global, let's start with the trading fees.

TradeStation Global trading fees

TradeStation Global has low stock, ETF, futures, and CFD fees. The forex and options fees are average, while trading with mutual funds is expensive.

Stock fees and ETF fees

TradeStation Global has generally low stock and ETF commissions. Only Degiro is competitive in this regard.

TradeStation Global stock and ETF commission of a $2,000 trade
  TradeStation Global Degiro Saxo Bank
US stock $1.5 $0.6 $10.0
UK stock $2.4 $2.4 $9.6
German stock $2.4 $5.4 $11.0

TradeStation Global charges fees mostly as a percentage of the traded volume. For US and Canadian stocks, however, the commission is based on the number of shares traded.

TradeStation Global stock fees
Market Commission Minimum
North America    
US $0.007 / share $1.5
Canada CAD 0.012 / share CAD 1.5
Europe    
UK 0.12% of the trade value £1.5
Belgium, France, Germany, Italy, Netherlands, Portugal 0.12% of the trade value €1.8
Switzerland 0.12% of the trade value CHF 2.25
Austria 0.12% of the trade value €6
Norway, Sweden 0.075% of the trade value NOK/SEK 15
Asia-Pacific    
Australia 0.12% of the trade value AUD 7.5
Hong Kong 0.12% of the trade value HKD 20
Japan 0.75% of the trade value JPY 120
Singapore 0.12% of the trade value SGD 3.75
India 0.12% of the trade value No minimum

If you prefer stock trading on a margin, you should check TradeStation Global's margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

TradeStation Global's margin rates are in line with other brokers, however, we'd like to point out that they add a 2.5% markup to Interactive Brokers's rates.

TradeStation Global annual financing rates for stocks
  TradeStation Global Degiro Saxo Bank
USD margin rate 4.1% 3.1% -
GBP margin rate 4.0% 1.9% -
EUR margin rate 2.5% 0.8% -

Forex fees

TradeStation Global's forex fees are average. It charges higher fees than Saxo Bank for most currency pairs, except AUDUSD.

To get a clear picture on forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

TradeStation Global forex benchmark fee of a $20,000 30:1 long position held for one week
  TradeStation Global Degiro Saxo Bank
EURUSD benchmark fee $17.9 - $15.7
GBPUSD benchmark fee $13.6 - $14.8
AUDUSD benchmark fee $12.0 - $14.9
EURCHF benchmark fee $7.1 - $4.4
EURGBP benchmark fee $13.0 - $10.4

The forex fees comprised of commissions, which are calculated as 0.006% of the trade volume, with a minimum charge of $2.

Fund fees

TradeStation Global's fund fees are high. We calculated the fees for US mutual funds.

TradeStation Global commission for a $2,000 fund purchase
  TradeStation Global Degiro Saxo Bank
Mutual fund $25.0 $10.3 $0.0

US funds have a $25 transaction fee per trade, while the commission for European mutual funds is 0.12% of the trade volume, with a €2 minimum.

Bond fees

TradeStation Global has generally low bond fees.

TradeStation Global commission of a $10,000 government bond trade
  TradeStation Global Degiro Saxo Bank
US Treasury bond $7.5 - $88.0
EU government bond $15.0 $10.5 $88.0

The bond commissions are volume-tiered, with a minimum fee.

TradeStation Global bond commission
  Commission Minimum
US corporate 0.15% of trade value $1.5
US Treasury 0.03% of trade value $7.5
US Municipal 0.15% of trade value No minimum
EU bonds 0.15% of trade value €3

Options fees

TradeStation Global's options fees are average.

TradeStation Global stock index options commission of 10 contracts
  TradeStation Global Degiro Saxo Bank
US stock index options $15.0 $5.0 $40.0
UK stock index options $18.0 - $36.0
German stock index options $16.5 $9.9 $44.0

The options fees are volume-based, i.e. based on the number of contracts. 

TradeStation Global options fees
Market Commission Minimum
North America - all options    
US Smart routed $1.50 / contract No minimum
US Direct routed $2.00 / contract No minimum
Canada CAD 1.90 / contract No minimum
Mexico (AMXL) MXN 50.00 / contract No minimum
European stock options    
EUR denominated €1.50 / contract No minimum
GBP denominated £1.50 / contract No minimum
CHF denominated CHF 1.50 / contract No minimum
SEK denominated 0.525% of trade value + external fees SEK 15
Asia-Pacific - index options    
Australia Stock options: AUD 3.00 / contract
Stock index options: AUD 0.45 / contract
No minimum
Hong Kong Stock options: 0.30% of the option value (+ HKD 3.00 per contract exchange fee)
Stock index options: HKD 45.00 / contract
HKD 25.00 minimum for stock options
No minimum for stock index options
India Stock options: INR 45.00 per board lot
Stock index options: INR 22.50 per board lot
No minimum
Japan Stock options: JPY 135.00 / contract
N225 index options: 0.018% of the option value
No minimum for stock options
JPY 150.00 minimum for stock index options
Singapore SGD-denominated stock options: SGD 7.50 / contract
NIFTY: $4.25 / contract
No minimum
South Korea 0.30% of the option value KRW 1,500

Futures fees

TradeStation Global's futures fees are low.

TradeStation Global stock index futures commission of 10 contracts
  TradeStation Global Degiro Saxo Bank
US micro e-mini stock index futures $5.0 $5.0 $40.0
UK stock index futures $11.4 $0.0 $36.0
German e-mini stock index futures $14.9 $8.3 $44.0

Similarly to options, you pay commissions based on the number of contracts you trade.

TradeStation Global futures fees
Futures Commission
North America  
US $1.75 / contract 
US micro e-mini $0.50 / contract
Global FX e-mini $0.75 / contract
Canada $1.35 / contract
Europe  
USD denominated $1.55 / contract 
EUR denominated €1.35 / contract 
GBP denominated £0.95 / contract 
CAD denominated CAD 1.85 / contract
CHF denominated CHF 2.10 / contract 
SEK denominated SEK 15 / contract
NOK denominated NOK 15 / contract
Asia-Pacific  
Australia (SPI Minis)  AUD 1.10 / contract
India 0.018 % of trade volume*
Japan (NKVI, N225, N225M Fut)** JPY 420/42 / contract
AUD denominated AUD 5.30 / contract
HKD denominated HKD 12.75 / contract
SGD denominated SGD 3.35 / contract
CNH denominated  CNH 8.25 / contract

*Extra fees, like securities transaction tax, exchange charges, and service tax may be charged.

**Japanese futures fees differ for each stock index. In the table, we included the prices of the NKVI and N225 indices.

CFD fees

TradeStation Global has low CFD trading fees in general

To have a clear understanding of CFD fees we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

TradeStation Global CFD benchmark fees, for a $2,000 long position held for one week
  TradeStation Global Degiro Saxo Bank
S&P 500 index CFD fee $4.6 - $2.2
Europe 50 index CFD fee $4.0 - $2.1
Apple CFD fee $4.5 - $22.2
Vodafone CFD fee $11.8 - $21.3

TradeStation Global's stock and stock index CFD fee calculations are commission-based and have a set minimum.

TradeStation Global CFD fees
CFDs Commission Minimum
Stock CFDs
US share CFDs $0.007 per share $1.50
European share CFDs (EUR denominated) 0.075% €4.50
UK share CFDs (GBP denominated) 0.075% £4.50
CHF denominated 0.075% CHF 4.50
DKK/NOK denominated 0.075% DKK/NOK 60.00
CZK denominated 0.3% per trade fee CZK 90.00
Australian share CFDs 0.075% AUD 7.50
Hong Kong Share CFDs 0.075% HKD 18.00
Japanese Share CFDs 0.045% JPY 150.00
Singapore 0.17% SGD 3.75
Stock index CFDs
US 500 / US 30 index CFD 0.0075% $1.50
US 100 index CFD 0.015% $1.50
UK 100 index CFD 0.0075% £1.50
EUR 50 index CFD 0.0015% €1.50
GER 30 index CFD 0.0075% €1.50
France 40, Spain 35, Netherland 25, Switzerland 20 0.015% €1.50
Japan 225 index CFD 0.015% JPY 60.00
Hong Kong 50 0.015% HKD 15.00
Australia 200 0.015% AUD 1.50
Forex CFD 0.6 basis points * trade value $3.00

Non-trading fees

TradeStation Global has low non-trading fees. There is no account, inactivity or deposit fee. The first withdrawal each month is free, but subsequent withdrawals have a fee

TradeStation Global non-trading fees
  TradeStation Global Degiro Saxo Bank
Account fee No No No
Inactivity fee No No Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

TradeStation Global review
Account opening

2.8
TradeStation Global's account opening is fully digital and fast. On the negative side, the process is complicated and there is a high, $1,000 minimum deposit required in order to use TSG's own desktop platform.
Pros Cons
Fast $1,000 minimum deposit required for desktop platform
Fully digital Not user-friendly

Can you open an account?

Find out more

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.

What is the minimum deposit at TradeStation Global?

There is no minimum deposit required in order to 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 a $1,000 minimum deposit, which is 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.

TradeStation Global review - Account opening

TradeStation Global review
Deposit and withdrawal

2.5
TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies Not user-friendly
No charge for the first withdrawal each month.

Account base currencies

TradeStation Global provides a lot of account base currencies, which is great if you trade with assets in various different currencies.

TradeStation Global account base currencies
Australian Dollar British Pound Canadian Dollar Chinese Yuan
Czech Koruna Danish Krone Euro Hong Kong Dollar
Hungarian Forint Israeli Shekel Japanese Yen Mexican Peso
New Zealand Dollar Norwegian Krone Polish Zloty Russian Rouble
Singapore Dollar South African Rand Swedish Krona Swiss Franc 
US Dollar INR (only in India)    

Compared to its competitors, you can see that TradeStation Global's selection is similar to that of Saxo Bank, while Degiro offers fewer base currencies.

Base currencies at TradeStation Global vs similar brokers
  TradeStation Global Degiro Saxo Bank
Number of base currencies 22 9 26

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 don'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 bankYou can get great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

TradeStation Global charges no fees for deposits. However, deposit options are limited, as neither credit/debit cards nor electronic wallets can be used.

TradeStation Global deposit options
  TradeStation Global Degiro Saxo Bank
Bank transfer Yes Yes Yes
Credit/Debit card No No Yes
Electronic wallets No Yes No

The deposit process is not the easiest. First, you have to submit a request through 'Account Management', after which will can initiate a transaction through your bank.

A bank transfer can take several business days, while payment with a credit/debit card is instant. For us, it took 2 business days. 

TradeStation Global withdrawal fees and options

The first withdrawal each month is free of charge. All additional withdrawals have a fee.

Similarly to deposits, you can only use bank transfer for withdrawing funds. 

TradeStation Global withdrawal fees and options
  TradeStation Global Degiro Saxo Bank
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

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.

TradeStation Global withdrawal fee
Withdrawal currency Wire     BACS/GIRO/ACH/EFT/SEPA
USD 10 1
EUR 8 1
GBP 7 1
CAD 12 2
CNH 60 7
HKD 95 8
NZD, SGD 15 1
AUD 15 N/A
CHF 11 N/A
CZK 300 N/A
DKK 30 N/A
HUF 6,000 N/A
ILS 30 N/A
JPY 1,600 N/A
NOK, SEK 50 N/A
MXN 100 N/A
PLN 40 N/A
RUB 330 N/A
TRY 120 N/A
ZAR 200 N/A

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'. 

Compare to other brokers

TradeStation Global review
Web trading platform

4.3
You can use your TradeStation Global account to log in to the Interactive Brokers web trading platform. The TSG Client Portal is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
TradeStation Global platforms to choose from
Trading platform Score Available
Web 4.3 stars Yes
Mobile 3.5 stars Yes
Desktop 3.0 stars Yes

You can choose between two web trading platforms: the Client Portal and Webtrader. In this review, we tested the Client Portal, since it is more user-friendly and easier to use than Webtrader. 

The Client Portal is available in multiple languages: Dutch, English, French, German, Italian, Japanese, Russian, Simplified Chinese, Slovakian, Spanish and Traditional Chinese.

Look and feel

The Client Portal platform is particularly user-friendly and intuitive. It is easy to find every feature even if you're a beginner trader. On the negative side, it is not customizable at all.

TradeStation Global review - Web trading platform

Login and security

There are multiple ways to log in:

  1. You can use two-step authentication through SMS messaging.
  2. IB Key is a two-step authentication feature available through the mobile trading platform. If your device has a fingerprint sensor, you can also use biometric authentication for convenience.
  3. A  slightly more old-fashioned way is the Secure Login System, where you get a plastic code card.

Search functions

The search function is easy to use and works well.

TradeStation Global review - Web trading platform - Search

Placing orders

Client Portal offers many order types:

  • Limit 
  • Market 
  • Stop
  • Stop Limit
  • Limit-on-Close
  • Market-on-Close
  • Trailing Stop
  • Trailing Stop Limit

To get a better understanding of these terms, read this overview of order types.

You can also use a lot of order time limits:

  • Day
  • Good-til-Canceled (GTC)
  • Immediate or Cancel
  • Market-on-Open
  • Limit-on-Open
TradeStation Global review - Web trading platform - Order panel

Alerts and notifications

You can set alerts and notifications, but only through the built-in chat. We think that it would be better if users could set alarms when they set up their orders.

Portfolio and fee reports

Portfolio and fee reports are transparent. The portfolio tab gives a clear overview of your performance, including historical profit/loss balance and the fees you paid.

Find out more

TradeStation Global review
Mobile trading platform

3.5
You can use Interactive Brokers's IBKR Mobile as a mobile trading platform. It has a lot of functions and a useful chatbot, but its user interface could be better.
Pros Cons
Two-step (safer) login User interface is a bit complex
Good search function
Good variety of order types

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

The number of available languages is almost the same as at the web trading platform, only Slovakian is not supported.

Look and feel

The mobile trading app is handier compared to the web platform. On the other hand, its overall look and user-friendliness lag behind the competitors' mobile platforms. 

TradeStation Global review - Mobile trading platform

Login and security

You can use a two-step login, which is safer than a simple login. Furthermore, if your device has a fingerprint sensor, you can also use biometric authentication for convenience.

Search functions

The search function works well, just like at the web trading platform. 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.

TradeStation Global review - Mobile trading platform - Search

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

IBKR Mobile has the same order types as the web trading platform.

TradeStation Global review - Mobile trading platform - Order panel

Alerts

You can set alerts only via the chatbot, which is not the most intuitive method.

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.

TradeStation Global review - Mobile trading platform - Chatbot

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.

TradeStation Global review - Mobile trading platform - Chatbot charting

Find out more

TradeStation Global review
Desktop trading platform

3.0
TradeStation Global's desktop trading platform is more suited for advanced traders. It is highly customizable and you can use a lot of order types. However, the platform is not user-friendly and its installation is overly complicated.
Pros Cons
Clear fee report Not user-friendly
Good customizability (for charts, workspace) Poor search function
Good variety of order types Overly complicated installation

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. 

TradeStation Global review - Desktop trading platform

Login and security

Similarly to the web trading platform, you can set 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 function is hard to use, as each tab uses a different search feature.

TradeStation Global review - Desktop trading platform - Search

Placing orders

TradeStation Global scores very highly on placing orders. There are a lot of order types, including very sophisticated ones:

  • Limit
  • Market
  • Stop Limit
  • Stop Market

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 many order time limits you can use:

  • Good-'til-Cancelled (GTC)
  • Good-'til-Day (GTD)
  • Immediate or Cancel (IOC)
  • Fill or Kill (FOK)
  • At-the-Open (OPG)
TradeStation Global review - Desktop trading platform - Order panel

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

Due to its old and complex design, we could not find any way to download, access or print our fee reports or account statements. It is much easier to find this information on the Client Portal.

Find out more

TradeStation Global review
Markets and products

5.0
With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.

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 asset classes
  TradeStation Global Degiro Saxo Bank
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex Yes No Yes
Fund Yes Yes Yes
Bond Yes Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
CFD Yes No Yes
Crypto Yes Yes Yes

TradeStation Global has a wide selection of product types, from stocks to cryptos, with an exceptional range of ETFs and bonds. Also, there are a few more exotic products available, like warrants and structured products. Only their CFD and FX pair selection lacks behind competitors like Degiro and Saxo Bank.

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. At the time of writing this review, fractional share buying was not supported.

Other than stocks, you can choose from more than 13,000 ETFs. This is well above what most competitors offer. 

TradeStation Global stock and ETF selection
  TradeStation Global Degiro Saxo Bank
Stock markets (#) 78 30 28
ETFs (#) 13,000 5,400 3,100

Besides regular stocks, you can also trade with penny stocks

Forex

The FX pair selection at TradeStation Global is vast, with more than 100 pairs available. Only Saxo Bank provides more currency pairs.

TradeStation Global forex selection
  TradeStation Global Degiro Saxo Bank
Currency pairs (#) 105 - 182

Funds

Through TradeStation Global, you can access more than 250 fund providers, including big names like BlackRock. This selection is wider than at most competitors. 

TradeStation Global mutual fund selection
  TradeStation Global Degiro Saxo Bank
Fund providers (#) 260 64 17

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. 

TradeStation Global bond selection
  TradeStation Global Degiro Saxo Bank
Bonds (#) 60,000 649 40,000

Options

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

TradeStation Global options selection
  TradeStation Global Degiro Saxo Bank
Options markets (#) 33 12 23

Futures

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

TradeStation Global futures selection
  TradeStation Global Degiro Saxo Bank
Futures markets (#) 32 14 23

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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.

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

TradeStation Global CFD selection
  TradeStation Global Degiro Saxo Bank
Stock index CFDs (#) 13 - 29
Stock CFDs (#) 7,100 - 8,800
ETF CFDs (#) - - 675
Commodity CFDs (#) - - 19
Bond CFDs (#) - - 5
Futures CFDs (#) - - -

Cryptos

At TradeStation Global, you can trade with Bitcoin and Ethereum ETNs and Bitcoin Futures, just as at IB:

  • Bitcoin and Ethereum ETNs are traded on the Stockholm Stock Exchange and the US OTC (Pink) markets
  • Bitcoin Indices are available on the New York Stock Exchange (NYSE), and on the CME Group and Chicago Board Options Exchange (CBOE)
  • Bitcoin futures are available on the CME Group and Chicago Board Options Exchange (CBOE)

If you want to know more about crypto investing, we recommend our crypto blogpost.

TradeStation Global crypto selection
  TradeStation Global Degiro Saxo Bank
Cryptos (#) 2 4 2

TradeStation Global review
Research

4.5
TradeStation Global's research tools are advanced, with good charting capabilities. There are a wide range of technical tools, including an advanced monitoring tool (RadarScreen) and great programming tools (EasyLanguage). On the other hand, fundamental data is limited and the user-friendliness could be better.
Pros Cons
Good interactive chart Limited fundamental data
Trading ideas
Good set of analytical tools

Research can be done both on the Interactive Brokers and the TradeStation platform. In this review, we tested TradeStation's research tools.

Trading ideas

If you would like to use trading ideas, we recommend using the Interactive Brokers web or desktop trading platforms. 

On the IBKR platform, you will have access to recommendations provided by third parties. These research tools are mostly free, but there are some you have to pay for. Several prominent news sources, like Thomson ReutersMorningstar and Dow Jones, are available for free.

Fundamental data

The range of fundamental data available is limited and very hard to find due to the complexity of the platform. For example, we were able to find some information (such as foundation date and P/E ratio), but not other types of data that TradeStation Global support said is also available on the platform. For a smoother experience and more in-depth research, we recommend you use Interactive Brokers's tools, which are also available for TradeStation Global clients. 

Charting

The charting features are great: you can use over 170 technical indicators. Also, there are extra features like chart saving

On the negative side, charting is mainly suited for more advanced users. The UI is not user-friendly and some functions are hard to master. Simpler features like zoom work differently than other platforms we tested.

TradeStation Global review - Research - Charting

Charts are not available for every product. You have to buy certain data packages to be able to see movements.

News feed

The news feed is made up of news snippets, which are imported from various news sites. They are not written by TradeStation.

Look for 'Product categorization' for additional news. One drawback is that in some cases we could not find news results for major companies like Exxon Mobil or Google.

Other research tools you will enjoy

TradeStation has a great watchlist system called RadarScreen. You can customize it in almost endless ways, with more than 300 data points and checking charts. 

EasyLanguage is a great programming tool to customize or create your own technical tools, such as indicators. 

TradeStation Global review - Research - EasyLanguage

Compare research pros and cons

TradeStation Global review
Customer service

4.0
TradeStation Global's phone and email services are great, but it is not 24/7. We missed a live chat feature.
Pros Cons
Phone support No live chat
Fast response time No 24/7 support
Relevant answers

TradeStation Global has its own customer service center to handle inquiries. They have multiple departments available to address your questions, depending on the issue. You can also get in touch with the Interactive Brokers customer service department. 

You can reach TradeStation Global via:

  • phone
  • email
  • submitting a ticket on the website

During our most recent check, phone support seemed to be overwhelmed with requests. When we called, sometimes we could not reach a representative at all, although when we did, it only took 2-3 minutes. When the waiting time was over 5 minutes, we were able to leave a message. 

Email support is super fast. There were times when we received an answer within 30 minutes. Also, in one case, in response to a question we sent in an email, we received a phone call answer from a representative personally, who offered to help us with any further inquiries. The answers were helpful, and most of the time relevant for us.

TradeStation Global has also implemented a ticket support system for clients to help with their accounts, and they aim to reply to all tickets within one day.

On the negative side, we missed 24/7 availability and a live chat option. 

TradeStation Global review - Customer Service

Find out more

TradeStation Global review
Education

1.8
TradeStation Global has a limited range of educational content. Only a handful of videos and the demo account for Trader Workstation are available.
Pros Cons
Trading platform tutorial No educational videos

At TradeStation Global, not much educational content is available. You can check out a few quick tips for the desktop platform, like advanced charting tutorials and past webinars

If you use the Trader Workstation platform, you can create a demo account as well.

TradeStation Global review - Education

The is only a small range of videos available. We think the best way to learn is through a demo account, or by a step-by-step tutorial on any trading platform. We missed these features at TradeStation Global. 

Find out more

TradeStation Global review
Safety

TradeStation Global is an introducing broker of Interactive Brokers (IB), meaning that your assets and cash are held by IB. Interactive Brokers is regulated by the UK's top-tier FCA, it is listed on a stock exchange, and discloses its financials transparently.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
High level of investor protection

Is TradeStation Global regulated?

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

Is TradeStation Global safe?

To be certain if a brokerage is safe, we highly advise that you check two facts: how you are protected if something goes wrong and what the background of the broker is.

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. Therefore, customers are protected by the FSCS investor protection scheme. The FSCS has an investor protection limit of £85,000 per account, which is higher than at most European investor protection schemes.

Background

TradeStation Global was laucnhed 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: The European subsidiary of TradeStation Group Inc. It 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 at least 30 years, which means they have made it through multiple economic downturns. This is a good sign for their safety. 

Find your safe broker

TradeStation Global review
Bottom line

TradeStation Global has low trading fees, provides access to a lot of products and markets and has great customer support. The TradeStation Global desktop platform has great charting tools, plenty of indicators, highly customizable watchlists (Radar Screen) and a great programming tool (EasyLanguage).

On the other hand, the deposit and withdrawal process is not user-friendly and you can use only bank transfer. The account opening is complicated and for full account verification to use the TSG desktop trading platform, a minimum deposit of $1,000 is required. Margin rates are higher than at Interactive Brokers (IB). Lastly, the education section could be expanded with more materials, as it is quite limited.

If you want access to IB's product range and an account without inactivity fees, feel free to try TradeStation Global.

Find out more

Share

Comments

×