TradeStation Logo

TradeStation Review 2024

Written by
Adam N.
Fact checked by
Updated
2d ago
Trusted by BrokerChooser
  • Regulated by the top-tier SEC and FINRA in the US
  • Founded in 1982
  • Investor protection is $500k (securities up to $500k, cash up to $250k)
  • Clean track record: no major regulatory incidents or fines
21,203 people picked this broker at BrokerChooser in the last 6 months

Our take on TradeStation

TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body.

TradeStation has great web and mobile trading platforms, which are user-friendly and well-designed. Trading fees are average across the board, and we also liked TradeStation's research and educational tools.

On the negative side, similarly to most US brokers, TradeStation doesn't support deposits by bank card. Forex trading is not available, and customer service could be improved.

BrokerChooser gave TradeStation a 4.4/5 rating based on analyzing 600+ criteria and testing via opening a live account.

BrokerChooser score
4.4 4.4 /5
Visit broker
TradeStation is available in the United States
Pros
  • Great web and mobile trading platform
  • High level of investor protection
  • High-quality research and education tools
Cons
  • Inconvenient deposit and withdrawal
  • No forex trading
  • Mediocre customer service
“TradeStation’s focus on high-quality market data and trade executions makes them an excellent choice for the active trader. Unlike many other brokers, TradeStation prides itself on its customer service, whcih we found to be OK but not outstanding. The firm has historically focused on affluent, experienced, and very active traders, but has been working hard on broadening their appeal by offering additional services and lowering costs. The account opening process is streamlined, and you can tell exactly where you are. You can open and fund an account and start trading stocks and options the same day. The mobile app is centered on your watchlist and can be extensively customized. Options traders in particular will find a lot to like on the mobile app.”

TradeStation summary

Snapshot of key data
🗺 Country of regulationUSA
💰 US stock fee$5 per trade for non-US clients. For US clients, commission-free up to the first 10,000 shares per trade.
💰 Inactivity fee chargedYes
💰 Withdrawal fee$35
💰 Minimum deposit$0
💵 Available base currenciesUSD
💵 Conversion fee of deposits in non-base currencyOnly USD-denominated assets are available
💳 Deposit with bank cardNot available
🕖 Time to open an account1 day
🎮 Demo account providedYes
🛍️ Products offeredStock, ETF, Options, Futures
Fees
Account opening
Deposit and withdrawal
Desktop platform

For a more comprehensive, in-depth look at the broker's services and features, simply expand on the sections below.

Got Questions?
Join our community of traders and investors! Find answers or share your insights by browsing the topics in our forum below. Your voice makes a difference!

Fees

Score: 4.1/5
TradeStation has average trading fees, and you can choose from multiple fee structures. On the negative side, there's an inactivity fee and only ACH is free for withdrawals.
Pros
  • Low non-trading fees
  • Low fees for stock index options
  • Free ACH withdrawals
Cons
  • Inactivity fee
  • WIthdrawal fee for bank wire transfers
Read more

Account opening

Score: 5/5
TradeStation account opening is fully digital, user-friendly and fast. There are many account types, but USD is the only available base currency (except for futures accounts).
Pros
  • Fast
  • Fully digital
  • User-friendly
Cons
None
Read more

Deposit and withdrawal

Score: 1.4/5
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer, while the fee for wire transfer withdrawals is high.
Pros
  • No deposit fee
  • Quick deposit and withdrawal - within 3 days
  • ACH withdrawal is free
Cons
  • Credit/Debit card not available
  • High withdrawal fee
  • Only one account base currency
Read more

Web trading platform

Score: 4.3/5
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
Pros
  • Clear fee report
  • Two-step (safer) login
  • Good search function
Cons
None
Read more

Mobile trading platform

Score: 4.8/5
TradeStation's mobile platform is great. It is very user-friendly and well-designed, offering price alerts and excellent order management. However, search functions could be better.
Pros
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
Cons
  • Limited search functions
Read more

Desktop trading platform

Score: 2.3/5
TradeStation offers a desktop trading platform with many advanced features and customization options. For that reason, though, it is not very suitable for beginners.
Pros
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Price alerts
Cons
  • Not user-friendly
  • Poor search function
  • Poor design
Read more

Markets and products

Score: 2.6/5
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
Read more

Research

Score: 4.3/5
TradeStation offers great research, including detailed fundamental data and high-quality news. On the flip side, some research tools are not free.
Pros
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
Cons
  • Many add-on research tools are not free
Read more

Customer service

Score: 2.9/5
TradeStation's phone, live chat and email support are okay, but you can only contact them on weekdays.
Pros
  • Phone support
  • Live chat
Cons
  • No 24/7 support
Read more

Education

Score: 5/5
TradeStation's educational materials are great, including high-quality tools such as a demo account, educational videos and articles.
Pros
  • Demo account
  • Trading platform tutorial
  • Educational videos
Cons
None
Read more

Safety

TradeStation is overseen by top-tier US regulators, and its parent company is publicly listed, boosting transparency. However, negative balance protection is not provided.
Pros
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Financial information is publicly available
  • Parent company listed on stock exchange
Cons
  • No negative balance protection
  • Does not hold a banking license
Read more

Bottom line

TradeStation is a great US broker.
The web and mobile platforms are very user-friendly, with many great functions. TradeStation also charges low stock and ETF trading fees. On top of that, its education materials are well-structured and high quality.
On the other hand, deposit and withdrawal functions are not that convenient, as you can only use bank transfers. Among other negatives, there is no forex trading, and customer service has room for improvement.
As there is no minimum deposit, feel free to try TradeStation if you prefer trading on US markets.

Visit broker

FAQ

Read more
Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

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.

Follow us

Regional settings

×
I'd like to trade with...