The online trading marketplace has become much more sophisticated in the last decade. Average and casual traders are finding it easier and more accessible to buy, sell and trade to build their portfolio. But with the meteoric rise in online trading platforms, the industry has suffered from congestion.
This results in unsatisfactory platforms garnering a userbase and creating negative views from traders. One platform that has not suffered from this, is TradeStation. Well known in the industry, TradeStation is one of the leading platforms in online trading of all types of shares and assets, and for good reason.
We’ll be breaking down everything to know about the company and the pros and cons in our TradeStation review. But it’s important to have a brief understanding of online trading.
What Is Online Trading?
In simple terms, online trading refers to buying and selling securities online, rather than through a broker. Online trading has allowed individuals to take responsibility for overbuilding their portfolios. Online platforms have allowed individuals and casual traders to also break into the day trading industry.
Day trading consists of traders buying and selling securities in a short time span in an attempt to profit from movements in the price. Online trading has allowed individuals to net profit from investing in small spurts when done right.
So when looking at TradeStation reviews, we wanted to consider what the everyday user will be using this platform for. Day trading likely will be part of it. That said, let’s break down TradeStation and what it has to offer.
TradeStation Review – About the Company
Their parent company, TradeStation Group, was founded in 1982 under the name Omega Research. Founded by brothers William and Rafael Cruz, they were seeking out ways to optimize and automate their own trading strategies.
TradeStation Review – Breaking Down the Platform
TradeStation gives a professional set of tools and resources to help individual traders get the most out of their platform. Users will find a selection of different trading options and tools and allows users to trade a wide range of securities, including:
- Stocks – Trading on TradeStation is commission-free with stocks and is made easy with their trading technology.
- ETFs – TradeStation hosts over 2,000 commission-free ETFs.
- Options – TradeStation has an assortment of tools to leverage options. It also offers a bunch of resources to learn about different options.
- Futures – A variety of futures can be found on TradeStation, such as indices, euros, bonds, gold, and more.
- Crypto – Access to hot cryptocurrencies, such as Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and more.
- IPOs – Find information and news on up-and-coming companies before they hit the market.
- Mutual Funds – Ease of access to over 2,000 mutual funds that will help diversify your portfolio.
What Makes TradeStation Different?
Of course, all of these securities can be found on various other platforms. So what truly makes TradeStation different from its competitors? Many would say it’s the tools that TradeStation offers. Outside of being an online trading platform, TradeStation has a variety of tools to give its users an extra edge. Just a few of these tools that are at TradeStation user’s disposal are:
TradeStation’s premier platform, simply named “Desktop 10”. What makes their desktop platform so powerful is the host of tools that are at hand. These include dynamic market-scanning and customizable charting. Also, reliable trade execution, an order management system, and fully automated strategy trading. Key features from the desktop platform include:
- RadarScreen – Monitors and ranks up to 1,000 symbols in real-time.
- EasyLanguage – Simplified programming language designed to easily plot out your strategies.
- Strategy Back-Testing – Test, optimize, and automate trade strategies using historical market data.
- Matrix – Simple and fast order-entry tool and tracking system to allow you to make fast decisions when you need to.
- And much more.
Trade easily on a browser, so no need for installing software.
Trade on the go, and from all of your devices. No missing out on trading, no matter where you are.
Best for futures traders, FuturesPlus is available to trade options on futures.
Test your strategies before you even make a trade. Using historical data, this system allows you to perfect your strategy before implementing it.
All the tools you need to trade crypto, with powerful analysis tools and the ability to earn interest on eligible crypto assets.
TradeStation Review – Who Is TradeStation Suited Towards?
While it’s apparent that TradeStation is a leader in their industry, it’s important to consider who TradeStation is best suited for. With the plethora of tools and variety of securities, it’s reasonable to say that TradeStation might not be suitable for brand new investors and traders. Because TradeStation has so many tools and platforms available, it could be overwhelming for someone who is just looking to understand the basics, and needs a simple platform to start.
But for everyone else, TradeStation is a premier platform that can seemingly do it all. Their tools are top-notch, their options are limitless and their commission fees are definitely competitive. The only place we think TradeStation may fall short is with mutual fund commission structures and the inactivity fee. But this won’t apply to most traders anyways.
Check out some of our other posts on trading, including this one on crypto trading platforms!
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