TradeStation, a US-based stockbroker regulated by FINRA, is recognized for its user-friendly web and mobile trading platforms. While it boasts low trading fees and offers robust research and educational tools, there are notable limitations. TradeStation does not support bank card deposits and lacks forex trading options. Additionally, customer service could use improvement, as highlighted by some users.
Offering a variety of trading products across asset classes, TradeStation operates under several licenses, including those from SEC & FINRA (USA), CFTC (USA), NFA, SIPC (USA), and FCA (UK).
TradeStation’s trading platform is lauded for its customization and advanced tools, particularly suitable for active traders and algorithmic strategies. However, its complexity might deter beginners. Cost-wise, TradeStation may not be the most budget-friendly choice compared to alternative brokers, as observed by some users.
While the broker’s strength lies in its low trading fees and multiple fee structures, it’s important to note the presence of an inactivity fee and limited free withdrawal options. Only ACH withdrawals are free.
Account opening at TradeStation is straightforward and digital, although the available base currency is primarily limited to USD, except for futures accounts.