The best alternatives to TradeStation are
- tastytrade - US options and stockbroker
- Interactive Brokers - International broker providing all asset classes
- TD Ameritrade - US-based stockbroker
Let's see in a bit more detail how the TradeStation alternatives compare to TradeStation and each other:
Overall score
|
4.4 stars | 4.5 stars | 4.9 stars | 4.7 stars |
---|---|---|---|---|
Fees score
|
4.1 stars | 4.1 stars | 4.3 stars | 3.9 stars |
Account opening score
|
5.0 stars | 5.0 stars | 3.1 stars | 4.4 stars |
Deposit and withdrawal score
|
1.4 stars | 1.3 stars | 3.3 stars | 1.6 stars |
Web platform score
|
4.3 stars | 3.4 stars | 4.3 stars | 4.3 stars |
Markets and products score
|
2.6 stars | 3.2 stars | 5.0 stars | 3.8 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.
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
- tastytrade 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
- TD Ameritrade is recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
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!
tastytrade
Recommended for options and futures traders focusing on US markets
US stock
|
$0.0
|
$5.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1 day | 1 day |
If you are interested more in tastytrade minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$35
|
Web platform score
|
3.4 stars | 4.3 stars |
---|---|---|
Mobile platform score
|
4.2 stars | 4.8 stars |
Desktop platform score
|
3.9 stars | 2.3 stars |
Learn more about tastytrade's web trading platform in the detailed tastytrade review.
Stocks
|
Yes
|
Yes
|
---|---|---|
ETFs
|
Yes | Yes |
Forex
|
No | No |
Funds
|
No | No |
Bonds
|
No |
No
|
Options
|
Yes | Yes |
Futures
|
Yes | Yes |
CFDs
|
No | No |
Crypto
|
Yes
|
No
|
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
US stock
|
$1.0
|
$5.0
|
---|---|---|
UK stock
|
$3.8
|
-
|
German stock
|
$3.2
|
-
|
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.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No
|
No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$35
|
Web platform score
|
4.3 stars | 4.3 stars |
---|---|---|
Mobile platform score
|
4.3 stars | 4.8 stars |
Desktop platform score
|
3.8 stars | 2.3 stars |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Stocks
|
Yes |
Yes
|
---|---|---|
ETFs
|
Yes | Yes |
Forex
|
Yes | No |
Funds
|
Yes | No |
Bonds
|
Yes |
No
|
Options
|
Yes | Yes |
Futures
|
Yes | Yes |
CFDs
|
Yes | No |
Crypto
|
Yes
|
No
|
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
US stock
|
$0.0
|
$5.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1-3 days | 1 day |
If you are interested more in TD Ameritrade minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$35
|
Web platform score
|
4.3 stars | 4.3 stars |
---|---|---|
Mobile platform score
|
4.8 stars | 4.8 stars |
Desktop platform score
|
4.5 stars | 2.3 stars |
Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.
Stocks
|
Yes |
Yes
|
---|---|---|
ETFs
|
Yes | Yes |
Forex
|
Yes
|
No |
Funds
|
Yes | No |
Bonds
|
Yes |
No
|
Options
|
Yes | Yes |
Futures
|
Yes | Yes |
CFDs
|
No | No |
Crypto
|
Yes
|
No
|
TradeStation
Recommended for traders focusing on US markets and buy-and-hold investing
US stock
|
$5.0
|
$0.0
|
$1.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
$0
|
$0
|
---|---|---|---|---|
Time to open account
|
1 day | 1 day | 1-3 days | 1-3 days |
Learn more about TradeStation minimum deposit here.
Bank transfer
|
Yes | Yes | Yes | Yes |
---|---|---|---|---|
Credit/debit card
|
No | No |
No
|
No |
Electronic wallets
|
No | No | No | No |
Withdrawal fee
|
$35
|
$0
|
$0
|
$0
|
Web platform score
|
4.3 stars | 3.4 stars | 4.3 stars | 4.3 stars |
---|---|---|---|---|
Mobile platform score
|
4.8 stars | 4.2 stars | 4.3 stars | 4.8 stars |
Desktop platform score
|
2.3 stars | 3.9 stars | 3.8 stars | 4.5 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Stocks
|
Yes
|
Yes
|
Yes | Yes |
---|---|---|---|---|
ETFs
|
Yes | Yes | Yes | Yes |
Forex
|
No | No | Yes |
Yes
|
Funds
|
No | No | Yes | Yes |
Bonds
|
No
|
No | Yes | Yes |
Options
|
Yes | Yes | Yes | Yes |
Futures
|
Yes | Yes | Yes | Yes |
CFDs
|
No | No | Yes | No |
Crypto
|
No
|
Yes
|
Yes
|
Yes
|
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 intro
|
Recommended for
|
|
---|---|---|
US stockbroker | Traders focusing on US markets and buy-and-hold investing | |
US options and stockbroker | Options and futures traders focusing on US markets | |
International broker providing all asset classes | Traders looking for broad market access and a professional trading environment | |
US-based stockbroker | Investors and traders looking for solid research and a well-equipped desktop trading platform |
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