The best alternatives to Tradestation are
- Interactive Brokers - US discount broker
- tastyworks - US options and stockbroker
- SogoTrade - US-based stockbroker
- ChoiceTrade - US-based stockbroker
Let's see in a bit more detail how the Tradestation alternatives compare to Tradestation and each other:
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Overall score | 4.4 | 4.8 | 4.5 | 4.2 | 4.1 |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Web platform score | |||||
| Markets and products score | |||||
| Visit broker | 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.
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 wanting great research tools and preferring the us markets
- Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
- tastyworks is recommended for price sensitive equity and option traders focusing on the us
- SogoTrade is recommended for stock and options traders aiming for a us-based stockbroker with great customer service
- ChoiceTrade is recommended for stock and options traders aiming for low trading fees and focusing on the us market
Important factors of finding Tradestation alternatives
So far Brokerchooser has reviewed 56 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.
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
Tradestation
4.4
4 stars
TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.
TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for traders wanting great research tools and preferring the us markets
- Great mobile trading platform
- Wide range of reserach tools
- High-quality educational tools
- Not user-friendly deposit and withdrawal
- No forex
- Bad customer service
Fees 4 stars
TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
- Low trading fees
- More fee structures you can choose from
- High non-trading fees
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | $5.2 | $9.9 | $0.0 |
| Vodafone benchmark fee | - | $17.9 | - | - | - |
| EURUSD benchmark fee | - | $23.0 | - | - | - |
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 4 stars
TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
- Fully digital account opening
- User-friendly
- Slow account opening
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Minimum deposit | $500 | $0 | $0 | $0 | $100 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | 1-3 days |
Learn more about Tradestation minimum deposit here.
Deposit and withdrawal 2 stars
TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
- No deposit fee
- Credit/Debit card not available
- Not user-friendly
- High withdrawal fee (for non-US clients $35 /tansaction)
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $35 | $0 | $45 | $50 | $60 |
Web trading platform 4 stars
TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
- User-friendly
- Good customizability (for charts, workspace)
- Good variety of order types
- No clear fee report available
- No price alerts
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score |
Learn more about Tradestation's web trading platform in the detailed Tradestation review.
Markets and products 2 stars
TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
| Tradestation | Interactive Brokers | tastyworks | SogoTrade | ChoiceTrade | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | No | Yes | No | No | No |
| Fund | Yes | Yes | No | No | No |
| Bond | No | Yes | No | No | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | No | No |
| CFD | No | Yes | No | No | No |
| Crypto | No | Yes | No | No | No |
Verdict
TradeStation is a great US broker.
The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality.
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.
Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.
| Tradestation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Traders wanting great research tools and preferring the US markets |
Tradestation alternatives
Interactive Brokers
4.8
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for traders who prefer low fees and a professional trading environment
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
Fees 4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | Tradestation | |
|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 |
| Vodafone benchmark fee | $17.9 | - |
| EURUSD benchmark fee | $23.0 | - |
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 3 stars
The account opening process is fully digital, but slow and complicated.
- Fully digital account opening
- No minimum deposit for most accounts
- Slow account opening
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | Tradestation | |
|---|---|---|
| Minimum deposit | $0 | $500 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal each month
- Credit/Debit card not available
- Slow funding and withdrawal - over 3 days
| Interactive Brokers | Tradestation | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $35 |
Web trading platform 4 stars
The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
- User-friendly
- Clear fee report
- Two-step (safer) login
- Limited customizability (for charts, workspace)
| Interactive Brokers | Tradestation | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products 5 stars
Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
| Interactive Brokers | Tradestation | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFD | Yes | No |
| Crypto | Yes | No |
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC. |
| Fees score | |
| Recommended for | Traders who prefer low fees and a professional trading environment |
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Tradestation alternatives
tastyworks
4.5
5 stars
Best for options
tastyworks is a young, upcoming US broker focusing on options trading.
The people behind tastyworks are proven experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned, established in 2017 and headquartered in Chicago.
tastyworks is considered safe as it is regulated by a top-tier regulator, the US FINRA.
Recommended for price sensitive equity and option traders focusing on the us
- Low options trading fees
- Great education materials
- Very good customer service
- Only US options, futures, and stocks
- Can be intimidating for beginners
- Trading platforms have some bugs
Fees 4 stars
tastyworks has low trading fees and average non-trading fees. Its options fees are very low as well.
- Low trading fees
- No inactivity fee
- Transparent fee structure
- Withdrawal fee
- High financing rate
| tastyworks | Tradestation | |
|---|---|---|
| Apple benchmark fee | $5.2 | $2.2 |
| 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 4 stars
tastyworks account opening is user-friendly and fully digital. You can open your account without a required minimum. On the flip side, it can be more days until your account is approved.
- Fully digital account opening
- No minimum deposit
- User-friendly
- Can take 3 business days
| tastyworks | Tradestation | |
|---|---|---|
| Minimum deposit | $0 | $500 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in tastyworks minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
tastyworks deposit and withdrawal can be improved. The account can be opened only in USD. Also, non-US citizens can only use bank transfer, and there is high withdrawal fee.
- No deposit fee
- User-friendly
- Credit/Debit card not available
- High withdrawal fee
- Only one account base currency
| tastyworks | Tradestation | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $45 | $35 |
Web trading platform 4 stars
Tastyworks web trading platform feels like entering the cockpit of a plane. It looks organized, but also complicated at first sight.
- Clear fee report
- Good search function
- Great options trading panel with embedded strategies
- Limited customizability (for charts, workspace)
- Can be intimidating for beginners
| tastyworks | Tradestation | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about tastyworks's web trading platform in the detailed tastyworks review.
Markets and products 1 stars
At tastyworks you can trade with US stocks, ETFs, options, and some futures.
| tastyworks | Tradestation | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | No | Yes |
| Bond | No | No |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFD | No | No |
| Crypto | No | No |
Verdict
tastyworks is an excellent broker for options trading. It could be a bit complicated if you want to trade stocks only.
tastyworks is a US broker, hence investor protection scheme is excellent. Options fees are very low, among the bests. Its trading platform is aimed at experienced options traders, it can be intimidating for starters.
As there is no minimum deposit, no inactivity or monthly fee, and the account open is seamless, feel free to try it.
| tastyworks | |
|---|---|
| Summary | Tastyworks is a young US options and stockbroker. It is regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Price sensitive equity and option traders focusing on the US |
Tradestation alternatives
SogoTrade
4.2
4 stars
SogoTrade is a US-based stock broker founded in 1986 and regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority.
While it is not listed on any stock exchanges and it doesn't have a bank background SogoTrade is considered safe because it has a long track record and it is regulated by top-tier regulators. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for stock and options traders aiming for a us-based stockbroker with great customer service
- Easy and fully digital account opening
- Relevant and fast customer service
- Wide range of research tools
- High non-trading fees
- Limited product portfolio
- Not user-friendly desktop trading platform
Fees 4 stars
SogoTrade has low trading fees and high non-trading fees.
- Low trading fees
- Transparent fee structure
- 100 commission-free trades at the beginning
- High non-trading fees
| SogoTrade | Tradestation | |
|---|---|---|
| Apple benchmark fee | $9.9 | $2.2 |
| 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 5 stars
Opening an account at SogoTrade is easy, fast and fully digital for both US and international citizens.
- Fully digital account opening
- No minimum deposit
- User-friendly
| SogoTrade | Tradestation | |
|---|---|---|
| Minimum deposit | $0 | $500 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in SogoTrade minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
SogoTrade offers free funding. On the other hand, you can transfer money only by bank transfer and non-US clients are charged $50, while US clients are charged $25 for bank transfer withdrawal.
- No deposit fee
- Credit/Debit card not available
- High withdrawal fee
- Only one account base currency
| SogoTrade | Tradestation | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $50 | $35 |
Web trading platform 3 stars
The SogoTrade trading platform is user-friendly, has a good search function, and offers a variety of order types. However, it's not customizable, it doesn't look nice, and doesn't have price alerts.
- Two-step (safer) login
- Good search function
- Good variety of order types
- Limited customizability (for charts, workspace)
- No price alerts
- Does not look appealing
| SogoTrade | Tradestation | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.
Markets and products 1 stars
At SogoTrade, you can trade only with US stocks, ETFs, and options.
| SogoTrade | Tradestation | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | No | Yes |
| Bond | No | No |
| Options | Yes | Yes |
| Futures | No | Yes |
| CFD | No | No |
| Crypto | No | No |
Verdict
SogoTrade is a great broker for US stock and options trading.
The account opening at SogoTrade is easy, fully digital, and takes 1-2 days. It has also great customer support which gives fast and relevant answers. Lastly, you can use a wide range of research tools, including a wide range of analytical tools.
On the negative side, SogoTrade charges $50 per year inactivity fee and high withdrawal fees for bank transfers, $50 for non-US clients and $25 for US clients. The product offer is limited, you can trade only with stock, ETF, and options. The desktop trading platform can be improved as it is not user-friendly-structured and misses essential tools, like price alerts.
As the account opening is seamless, and SogoTrade offers 100 commission-free trades for new account opens, feel free to try it.
| SogoTrade | |
|---|---|
| Summary | SogoTrade is a US based stockbroker, regulated by US top-tier regulators, the SEC and FINRA. It is not listed on any stock exchanges and does not have a banking backgorund. |
| Fees score | |
| Recommended for | Stock and options traders aiming for a US-based stockbroker with great customer service |
Tradestation alternatives
ChoiceTrade
4.1
4 stars
ChoiceTrade is a US-based stock broker founded in 2000. ChoiceTrade is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). It is also a member of SIPC. SIPC membership means that clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
While it is not listed on any stock exchanges and it doesn't have a bank background ChoiceTrade is considered safe because it has a long track record, is regulated by top-tier regulators, and discloses annual financial statements.
Recommended for stock and options traders aiming for low trading fees and focusing on the us market
- Commission-free stock trading
- Fast and easy account opening
- User-friendly mobile trading platform
- High non-trading fees
- Not user-friendly deposit and withdrawal
- Limited product portfolio
Fees 4 stars
ChoiceTrade has low trading fees, you can even trade commission-free stocks. On the flip side, the non-trading fees are high.
- Low trading fees
- Commission-free stock trading
- High non-trading fees
| ChoiceTrade | Tradestation | |
|---|---|---|
| Apple benchmark fee | $0.0 | $2.2 |
| 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 5 stars
Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international citizens.
- Fully digital account opening
- User-friendly
| ChoiceTrade | Tradestation | |
|---|---|---|
| Minimum deposit | $100 | $500 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in ChoiceTrade minimum deposit, this overview will help you.
Deposit and withdrawal 1 stars
ChoiceTrade deposit and withdrawal have a lot to improve. The credit/debit cards are not accepted, there is a high withdrawal fee and the withdrawal process is not user-friendly. As a plus, there is no deposit fee.
- No deposit fee
- Credit/Debit card not available
- High withdrawal fee
- Only one account base currency
- Not user-friendly withdrawal
| ChoiceTrade | Tradestation | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $60 | $35 |
Web trading platform 2 stars
ChoiceTrader web trading platform is not user-friendly, there is no two-step login, and the search functions are poor. As a plus, it offers a clear fee report and a great variety of order types.
- Clear fee report
- Good variety of order types
- Not user-friendly
- No two-step (safer) login
- Poor search function
| ChoiceTrade | Tradestation | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about ChoiceTrade's web trading platform in the detailed ChoiceTrade review.
Markets and products 1 stars
At ChoiceTrade, you can trade only with US stocks, ETFs, and options.
| ChoiceTrade | Tradestation | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | No | Yes |
| Bond | No | No |
| Options | Yes | Yes |
| Futures | No | Yes |
| CFD | No | No |
| Crypto | No | No |
Verdict
ChoiceTrade offers commission-free stock trading if you choose the Stock Plan A fee structure. The account opening is easy, fully digital, and takes 1-2 days. It has also a great and user-friendly mobile trading platform.
On the negative side, ChoiceTrade charges $20-30 per quarter inactivity fee and high withdrawal fees for bank transfers, $60 for non-US clients and $35 for US clients. The deposit and withdrawal are not user-friendly and you can use only bank transfer. The product offer is limited, you can trade only with stock, ETF, and options.
As ChoiceTrade has a seamless account opening and you can trade with commission-free stocks, feel free to try it.
| ChoiceTrade | |
|---|---|
| Summary | ChoiceTrade is a US stockbroker, regulated by US top-tier regulators, the SEC and FINRA. It is not listed on any stock exchanges and does not have a banking backgorund. |
| Fees score | |
| Recommended for | Stock and options traders aiming for low trading fees and focusing on the US market |
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 wanting great research tools and preferring the US markets |
| Interactive Brokers | US discount broker | Traders who prefer low fees and a professional trading environment |
| tastyworks | US options and stockbroker | Price sensitive equity and option traders focusing on the US |
| SogoTrade | US-based stockbroker | Stock and options traders aiming for a US-based stockbroker with great customer service |
| ChoiceTrade | US-based stockbroker | Stock and options traders aiming for low trading fees and focusing on the US market |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
