Compare Alpaca Trading vs TradeStation


Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against TradeStation!

Alpaca Trading vs TradeStation
overall rating
4.6
4.7
overall pros
  • Great API trading service
  • Free stock & ETFs
  • Fantastic charting tools
  • Great web and mobile trading platform
  • Low stock and ETF fees
  • High-quality educational tools
overall cons
  • Customer support limited to email
  • Limited deposit and withdrawal options
  • Only US stocks and ETFs available
  • Not user-friendly deposit and withdrawal
  • No forex trading
  • Okayish customer service
fees
4.9
  • Commission-Free Stock and ETF Trading
  • No inactivity fee
  • No withdrawal fee
4.3
  • Low trading fees
  • Low stock and ETF fees
  • Multiple fee structures to choose from
  • Withdrawal fee
  • Non-trading fees can be high
account opening
4.8
  • Fast
  • Fully digital
  • No minimum deposit
  • Bit complex process for integrating third-party tools
5.0
  • Fast
  • Fully digital
  • User-friendly
  • Only USD accounts (unless you trade futures)
deposit and withdrawal
1.8
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • High withdrawal fee for wire transfers
1.8
  • No deposit fee
  • Deposit and withdrawal in cryptocurrencies
  • Credit/Debit card not available
  • High fee for wire withdrawal
  • Only USD accounts (unless you trade futures)
web trading platform
3.7
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • No price alerts
  • Limited customizability
  • Limited search function
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
4.2
  • User-friendly
  • Two-step (safer) login
  • Order confirmation
  • Poor search function
  • No price alerts
  • No Touch/Face ID login
4.8
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
  • Limited search functions
desktop trading platform
  • Limited order types
2.5
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Two-step (safer) login
  • Not user-friendly
  • Poor search function
  • Poor design
markets and products
2.1
  • Stock
  • ETF
2.7
  • Stock
  • ETF
  • Fund
  • Options
  • Futures
  • Crypto
research
5.0
  • Access to highly functional API
  • Great charting tools
  • Data on asset fundamentals
  • No trading ideas
4.0
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Many add-on research tools are not free
customer service
1.9
  • Great Slack and community forums
  • Email support
  • No phone support
  • No live chat
  • Mediocre email support
2.5
  • Phone support
  • Live chat
  • No 24/7 support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
  • 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
  • No negative balance protection
  • Does not hold a banking license
recommended for Traders interested in algorithmic stock rading Traders focusing on US markets and buy-and-hold investing
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