TradeStation: The King Kong of Investing Platforms
Review
Updated
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TradeStation is one of the most trader-oriented online brokers, and therefore most of its investment offerings, educational resources, customer support, and trading platform features were designed with this in mind. It's not perfect -- investors who want to simply buy and sell stocks for long-term investments, or who want an easy-to-navigate platform might be better off looking elsewhere. But if you aim to be an active investor, or want to learn how to trade futures or options, TradeStation could be worth a closer look.
On TradeStation's Secure Website.
A discount broker that's designed for active traders and cost-sensitive investors. You can often spend less than with other platforms.
$0 stock trades
$0
New accounts with qualifying assets earn $50 to $5,000 using code FOOLAFYJ
On TradeStation's Secure Website.
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Managing your finances under one roof | $0 for stocks,¹ $0 for options contracts⁴ |
Learn More for SoFi Active Investing
On SoFi Active Investing's Secure Website. |
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low fees on stocks, ETFs, crypto, and options | $0 for stocks, ETFs, and options |
Learn More for Robinhood
On Robinhood's Secure Website. |
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low mutual fund fees. | $0 per trade |
Learn More for J.P. Morgan Self-Directed Investing
On J.P. Morgan Self-Directed Investing's Secure Website. |
TradeStation is a platform designed for active investors, and as such, it offers several types of investments and derivative securities. It does offer some accounts, specifically IRAs, that are most often used by long-term investors, so you can keep your trading and retirement accounts at the same broker.
TradeStation used to offer cryptocurrency trading. It launched the TradeStation crypto platform in November 2019, but made the decision to discontinue operations in Feruary 2024 due to the uncertain regulatory environment.
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We'd rank TradeStation towards the middle of the pack for commissions and fees. It isn't a particularly cheap broker, but its pricing is quite reasonable for such a full-featured brokerage platform.
| Reason | Cost |
|---|---|
| Stocks & ETFs | $0 |
| Options | $0 + $0.60 per contract |
| Futures | $0 + $1.50 per contract |
| Mutual funds | $14.95 per trade |
| Account transfer fee | $125 |
| Account maintenance fee | $0 ($35 per year for IRAs) |
Like many of its peers, TradeStation uses a tiered margin interest rate structure that depends on the customer's outstanding margin balance.
| Margin Balance | Margin Interest Rate |
|---|---|
| Under $50,000 | 13.5% |
| $50,000 - $499,999 | 12.5% |
| $500,000 or more | Negotiable |
TradeStation is designed with active investors and traders in mind, and therefore many of its educational resources are intended to teach the basics of trading and how to use the TradeStation platform.
It might not be the best choice if you're looking to learn things like the fundamentals of creating a retirement portfolio, conducting fundamental analysis, or other long-term investing concepts. It also doesn't offer access to third-party stock research reports, as this is a tool that is more commonly used by long-term investors, not traders.
As the company's name implies, TradeStation's key strength is its trading platforms. However, TradeStation doesn't offer a basic, easy-to-use interface to buy and sell stocks, so it might not be the best fit for beginners.
The company was initially formed as a technical analysis software provider, and that remains a key focus of the business today. It offers several ways to invest, including a web-based trading platform, a high-powered desktop platform, and a mobile app for trading on the go.
Even the web trading platform, which is the most basic of the three, offers powerful charting tools, advanced order entry capabilities, personalized views, and up-to-date market data and news.
The TradeStation desktop platform is the flagship interface and offers a feature-packed trading experience. Users can program their own automated trading strategies, conduct sophisticated options analysis, and much more.
It does offer a simulation (play money) mode, so you can test drive the platform before you decide to open an account.
TheTradeStation mobile app is one of the most sophisticated mobile trading platforms in the industry, offering many of the same charting and analysis features of the highly rated desktop platform. Like the web and desktop platforms, TradeStation's mobile app isn't the easiest to navigate, especially for newer investors, so if you're simply looking for a place to occasionally buy and sell stocks on the go, TradeStation might not be the ideal platform for you.
The TradeStation app has strong ratings, including a 4.5 out of 5-star rating based on over 17,000 reviews in the App Store and a 3.6 out of 5-star rating in the Play Store.
TradeStation's customer service has mixed reviews, with a 2.4 out of 5-star rating on Trustpilot. When it comes to getting in touch with TradeStation, its customer support hours are more limited than some of its competitors, and it doesn't have branches.
There are several ways for TradeStation users to contact customer service:
As a highly sophisticated trading platform, TradeStation uses several technologies to help keep accounts safe and secure. Its websites and apps use encrypted communications, advanced hardware and software firewalls, and more, and the company has strict policies when it comes to customer privacy and sending customer alerts when a change is made to an account.
TradeStation's history dates all the way back to 1982 and was initially designed to allow investors to develop and back-test their own trading strategies. It was purely a market software company and became a brokerage for the first time in 2001. Today it is a subsidiary of Japan-based brokerage firm parent company Monex Group.
Keep reading about TradeStation on these pages:
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SoFi Disclosure: INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).
J.P Morgan Disclosure
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
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