The best alternatives to TradeStation are
- tastyworks - US options and stockbroker
- Interactive Brokers - International broker providing all asset classes
- SogoTrade - US-based stockbroker
- Saxo Bank - Danish investment bank
Let's see in a bit more detail how the TradeStation alternatives compare to TradeStation and each other:
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| Overall score | 4.5 | 4.7 | 4.9 | 4.2 | 4.8 |
| Fees score | 4.0 stars | 4.3 stars | 4.5 stars | 4.1 stars | 3.3 stars |
| Account opening score | 5.0 stars | 5.0 stars | 3.2 stars | 5.0 stars | 2.0 stars |
| Deposit and withdrawal score | 2.3 stars | 1.9 stars | 3.0 stars | 1.8 stars | 4.8 stars |
| Web platform score | 4.3 stars | 3.4 stars | 4.0 stars | 3.0 stars | 5.0 stars |
| Markets and products score | 2.8 stars | 3.1 stars | 5.0 stars | 2.1 stars | 5.0 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to TradeStation? There are many areas based on which TradeStation can be compared with others. When we say a given online broker is a good alternative to TradeStation we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. Answer 4 simple questions and get a list of the most relevant brokers.
TradeStation alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- tastyworks is recommended for options and futures traders focusing on us markets
- Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment
- SogoTrade is recommended for stock and options traders with a us focus who value great customer service
- Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
Important factors of finding TradeStation alternatives
So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether TradeStation or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. TradeStation is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost TradeStation alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At TradeStation this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at TradeStation, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given TradeStation alternative is a must.
Now let's dive into the details of how TradeStation and its alternatives perform in the most important areas!
TradeStation alternatives
tastyworks
tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients.
The people behind tastyworks are the same experts who built the thinkorswim trading platform, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited product selection |
| • Great educational materials | • Few deposit and withdrawal options |
| • Good research tools | • No demo account |
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers and margin rates are quite high.
| Pros | Cons |
|---|---|
| • No inactivity fee | • High margin rates for stock trading |
| • Free stock trading | • Withdrawal fee for bank (wire) transfers |
| • Low options fees |
| tastyworks | TradeStation | |
|---|---|---|
| Apple benchmark fee | $0.3 | $2.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| tastyworks | TradeStation | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in tastyworks minimum deposit, this overview will help you.
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High fee for wire withdrawals |
| • Free ACH withdrawals in the US |
| tastyworks | TradeStation | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | • Not suited for beginners |
| • Two-step (safer) authentication for certain functions |
| tastyworks | TradeStation | |
|---|---|---|
| Web platform score | 3.4 stars | 4.3 stars |
| Mobile platform score | 4.2 stars | 4.8 stars |
| Desktop platform score | 3.9 stars | 2.8 stars |
Learn more about tastyworks's web trading platform in the detailed tastyworks review.
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| tastyworks | TradeStation | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | Yes |
| Bonds | No | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastyworks | |
|---|---|
| Summary | tastyworks is a US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.3 stars |
| Recommended for | Options and futures traders focusing on US markets |
TradeStation alternatives
Interactive Brokers
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.
Interactive Brokers recently launched a new app for global stock trading: read our review of IBKR GlobalTrader.
In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.
Recommended for traders looking for broad market access and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • Understaffed customer service |
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | TradeStation | |
|---|---|---|
| Apple benchmark fee | $2.3 | $2.3 |
| Vodafone benchmark fee | $9.1 | - |
| EURUSD benchmark fee | $10.4 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types |
| Interactive Brokers | TradeStation | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal free each month |
| Interactive Brokers | TradeStation | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
| • User-friendly | • User experience could be better |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TradeStation | |
|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 4.8 stars |
| Desktop platform score | 3.8 stars | 2.8 stars |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | TradeStation | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools.
There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.5 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
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TradeStation alternatives
SogoTrade
SogoTrade is a US stockbroker that was founded in 1986. The company is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Although it is not listed on any stock exchanges and does not have a banking background, its long track record and regulation by top-tier authorities are all good signs for SogoTrade's safety.
Clients are eligible for Securities Investor Protection Corporation (SIPC) coverage, which offers protection for up to $500,000 (up to $250,000 cash) per account.
Recommended for stock and options traders with a us focus who value great customer service
| Pros | Cons |
|---|---|
| • Low trading fees | • Poor charting tools |
| • Quick and easy account opening | • US-focused product portfolio |
| • Great customer service | • $50 fee for non-US payouts |
Fees
SogoTrade has low stock, ETF and options fees, and transactions using ACH are free. On the other hand, margin rates and wire withdrawal fees for non-US customers are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High margin rates for stock trading |
| • No commission if you use limit orders | • High fee for wire withdrawal |
| SogoTrade | TradeStation | |
|---|---|---|
| Apple benchmark fee | $6.0 | $2.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at SogoTrade is fast and fully digital for both US and international citizens. There is a $25 annual fee for IRA accounts.
| Pros | Cons |
|---|---|
| • Fast | • IRA accounts cost $25/year |
| • Fully digital | |
| • No minimum deposit |
| SogoTrade | TradeStation | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in SogoTrade minimum deposit, this overview will help you.
Deposit and withdrawal
If you live in the US, transactions are free via ACH. Non-US clients on the other hand are charged $50 for wire withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Free ACH withdrawal | • Slow withdrawal |
| • High fee for wire withdrawal (non-US) |
| SogoTrade | TradeStation | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
SogoTrade's web trading platform is user-friendly, with a good search function and many order types. However, it's not customizable, has a clunky look, and lacks two-step authentication.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good search function | • No two-step (safer) login |
| • Good variety of order types | • Limited customizability (for charts, workspace) |
| SogoTrade | TradeStation | |
|---|---|---|
| Web platform score | 3.0 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 4.8 stars |
| Desktop platform score | 0.9 stars | 2.8 stars |
Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.
Markets and products
At SogoTrade, you can trade US stocks, ETFs, options and cryptos, but the offered assets cover only US markets. Some popular asset types, like futures, are not available.
| SogoTrade | TradeStation | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | Yes |
| Bonds | No | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
SogoTrade is a great broker for US stock and options trading.
Stock and ETF trading fees are low, and even zero if you use limit orders. Options fees are low as well. Account opening is user-friendly and swift. Customer support is great, providing fast and relevant answers.
On the negative side, charting tools are extremely basic on all trading platforms. The product offering is limited, e.g. you can't trade futures or non-US markets. SogoTrade also charges high wire withdrawal fees for non-US payouts ($50).
As the account opening is seamless and trading fees are low, feel free to try SogoTrade.
| SogoTrade | |
|---|---|
| Summary | SogoTrade is a US-based stockbroker, regulated by top-tier US authorities like the SEC and FINRA. It is not listed on a stock exchange and does not have a banking background. |
| Fees score | 4.1 stars |
| Recommended for | Stock and options traders with a US focus who value great customer service |
TradeStation alternatives
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK's Financial Conduct Authority (FCA).
Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Being regulated by top-tier financial authorities, and having a long track record and a banking background, are all good signs for Saxo Bank's safety.
HEADS UP: Recent issues with account opening - Saxo Bank seems to have a delay in sending you a crucial URL to start your account opening. For more info, see Saxo Bank account opening issues in the review's Account opening chapter. If you'd like to open an account regardless, click here to read about Saxo Bank alternatives.
Recommended for investors and traders looking for a great trading platform and solid research
| Pros | Cons |
|---|---|
| • Great trading platform | • High bond, options and futures fees |
| • Outstanding research | • High minimum deposit |
| • Broad product portfolio | • Lacks live chat and 24/7 availability |
Fees
Saxo Bank has overall average trading and non-trading fees, but the structure is quite mixed, with great differences between the fees for various asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • Custody fee |
| • No withdrawal fee | • High fees for options and futures |
| Saxo Bank | TradeStation | |
|---|---|---|
| Apple benchmark fee | $20.3 | $2.3 |
| Vodafone benchmark fee | $23.1 | - |
| EURUSD benchmark fee | $7.1 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Saxo's account opening is fully digital, user-friendly and available in most countries. However, the minimum deposit is high in certain countries and verification can be slow.
| Pros | Cons |
|---|---|
| • Fully digital | • Minimum deposit is high in certain countries |
| • User-friendly | • Slow account verification |
| • Available in almost every country |
| Saxo Bank | TradeStation | |
|---|---|---|
| Minimum deposit | $2,000 | $0 |
| Time to open account | >3 days | 1 day |
If you are interested more in Saxo Bank minimum deposit, this overview will help you.
Deposit and withdrawal
Saxo Bank provides multiple deposit and withdrawal options free of charge, on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available |
| • Free withdrawal | |
| • No deposit fee |
| Saxo Bank | TradeStation | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Saxo Bank's web trading platform is one of the best on the market. Easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Saxo Bank | TradeStation | |
|---|---|---|
| Web platform score | 5.0 stars | 4.3 stars |
| Mobile platform score | 5.0 stars | 4.8 stars |
| Desktop platform score | 5.0 stars | 2.8 stars |
Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds are the only area where the selection could be improved.
| Saxo Bank | TradeStation | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.
It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.
In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.
| Saxo Bank | |
|---|---|
| Summary | Saxo Bank is a Danish investment bank. It is regulated by several financial authorities globally, including the top-tier UK FCA. |
| Fees score | 3.3 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
TradeStation alternatives
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; transparently discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Inconvenient deposit and withdrawal |
| • Low trading fees | • No forex trading |
| • High-quality research and education tools | • Mediocre customer service |
Fees
TradeStation has low 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 | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Low stock and ETF fees / Free stock trading | • WIthdrawal fee for bank wire transfers |
| • Free ACH withdrawals |
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $1.0 | $2.9 | $10.0 |
| UK stock | - | - | $4.2 | - | $11.2 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
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 | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • User-friendly |
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $2,000 |
| Time to open account | 1 day | 1 day | 1-3 days | 1 day | >3 days |
Learn more about TradeStation minimum deposit here.
Deposit and withdrawal
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 | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit/withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • ACH withdrawal is free |
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
| Pros | Cons |
|---|---|
| • Clear fee report | None |
| • Two-step (safer) login | |
| • Good search function |
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 3.4 stars | 4.0 stars | 3.0 stars | 5.0 stars |
| Mobile platform score | 4.8 stars | 4.2 stars | 3.5 stars | 3.5 stars | 5.0 stars |
| Desktop platform score | 2.8 stars | 3.9 stars | 3.8 stars | 0.9 stars | 5.0 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
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.
| TradeStation | tastyworks | Interactive Brokers | SogoTrade | Saxo Bank | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | Yes | No | Yes |
| Funds | Yes | No | Yes | No | Yes |
| Bonds | Yes | No | Yes | No | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFDs | No | No | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
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.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.0 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
TradeStation alternatives
Bottom line
Based on our analysis, there are several good alternatives to TradeStation. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
| tastyworks | US options and stockbroker | Options and futures traders focusing on US markets |
| Interactive Brokers | International broker providing all asset classes | Traders looking for broad market access and a professional trading environment |
| SogoTrade | US-based stockbroker | Stock and options traders with a US focus who value great customer service |
| Saxo Bank | Danish investment bank | Investors and traders looking for a great trading platform and solid research |
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