Are you hoping to get in on the action that is so appealing to the investors worldwide that they are rushing to their broker companies? Are you finding it a bit difficult and challenging to find the most suitable one, too? Worry not, because this is what this TradeStation review is for.
TradeStation was established back in 1982 with the goal of bringing something new and exciting into the trading landscape. Flash forward to today, TradeStation has had quite an eventful 2019 - their team has introduced better pricing and unique operations that make the structure innovative with a winning formula. What’s even more important - the company was actually able to acquire two smaller companies and bring them into the family. The educational website YouCanTrade is now a part of TradeStation, and it is now the best possible solution as far as the educational waters go. The second big name that comes from TradeStation is the crypto brokerage named TradeStation Crypto Inc. This is a separate subsidiary of the company that specializes solely in trading digital currencies, which are fast becoming some of the most interesting and appealing tradeable assets known to date.
TradeStation is based in sunny Florida, from where it is on a fast track of overlooking the entire US trading market. And that is not an easy job to do - considering how strict this market is when it comes to regulatory guidelines. Regardless, the company seems to be working just fine - they even created their own pricing plan that is fully licenced and able to offer the best for the clients who wish to trade futures and options. As a result, TradeStation is one of the most competitive broker companies today, with many years of experience up its sleeve. What else does this company have to offer to you?
Platform and Execution SCORE: 61%
The TradeStation trading platform was historically designed for the trading professionals and very active traders who know their way around and are not afraid to lead the way when it comes to this type of investing. However, this is starting to prove as a downside - considering that there are many beginning traders who want to join in on the action as well. And with platforms like this - that just may seem like an impossible task.
TradeStation has thus decided to create many different solutions for its clients, no matter what their trading background or proficiency is. As a result, now you have several choices when it comes to a trading platform mode - and not just the desktop and mobile! The platform type that the company is particularly proud of is called Simulated trading. This is the ultimate way to earn some additional knowledge and skills without putting any real money on the line. It is a great thing to have - and not a lot of companies do so. They would rather just let the clients go in the action alone and not equipt enough. As a result, the mistakes are made quite often, and they could have been easily avoided otherwise.
The platform at TradeStation is perfect when it comes to loading, there is almost zero downtime. Also, it is rich with many trading and analytic tools that can serve you well in a time of crisis, or when you are just looking to get some extra help to make a smart trading decision. The very special trading tool that the company has recently introduced is called the Portfolio Maestro - it is an analytic feature that helps you optimize your trading strategies so they can fit your trading goals and dreams perfectly.
Withdrawal Speed SCORE: 35%
When it comes to funding your account, the most important feature that the majority of users are setting their minds to is safety. TradeStation aims at providing this on all levels, no matter if you wish to make a deposit or a withdrawal. Also, the company has made a massive change in its pricing policy back in 2019, which was able to significantly cut a lot of the unnecessary costs and make trading more affordable to all market participants.
It should be noted that TradeStation does not charge commissions on equity options and penny stocks up to 10.000, which is a great deal. Also, the covered call trade for over 500 shares is only $3.00, which is really a bargain. When it comes to cryptocurrency fees, they can range from 0.50% for the transactions up to $100.000, while the commission for a higher stake of up to 1 million comes at only 0.125%.
And while all of this sounds nice (if you are able to make a difference between one pricing term and the other), we are still not sure how fast is the TradeStation team able to process these transactions. We weren’t able to find that information anywhere on their website, which is a real shame. This way, the clients cannot know how long do they have to wait for their trading journey to begin. This is definitely something that the TradeStation team should improve as soon as possible. After all, there are so many different possibilities to use in the process of funding, so you should make it count. Do not settle for one or the other until you find the perfect one. Speed, safety or a variety of assets - what is your top choice?
Support and Assistance SCORE: 17%
The customer support team at TradeStation seems particularly eager to help, or at least that is only applicable at a first glance. However, the reality is much different, much to our disappointment. Their support agents are not even available 24/7, which makes it impossible to make any type of a smooth transition in your trading adventure. Then, the main tool which you can use to contact them is the telephone number, which is quite old-fashioned.
There are also chat boxes which you can refer to in hopes of reaching an agent available. We haven’t had much luck so far with them, which is strange. This should be the most functioning communication tool, which connects you to an agent in a matter of seconds. However, this does not seem to be the case here. Also, there are several email addresses available which you can use to try and contact their team, but we wouldn’t hold our breaths for a fast reply.
This is quite a big downside for the entire company, especially the one that claims to be so innovative and fast-forward. And while we were astonished at first with its advanced solutions and amazing tools, we are now starting to second guess if this is the right place to direct your funds to in hopes of creating a lasting profit on the trading market.
Education and Tools SCORE: 28%
Since acquiring the highly anticipated YouCanTrade platform, the TradeStation company does not provide educational services directly anymore. This, however, makes things a bit complicated, considering that you will have to redirected to a completely different page if you want to learn something new. This is quite a hassle, especially if you want to make your trading journey as efficient as possible.
When you visit the website, you will be met with a whole variety of courses that are personalized and aimed specifically to your advancement of the trading skills that you already have, as well acquiring some new ones. Also, there are 2 different platforms here that are specifically designed for your educational needs - the “Crypto Untapped” and the “Traddictiv”. The first one was established just this year, and is focused solely on helping you discover many advantages and features that are attached to trading digital currencies. On the other hand, the “Traddictiv” learning platform is led by a team of skillful coaches with lots of experience, who will make sure to guide you on your trading path until a successful finish. How does that sound? So far so good if you ask us!
However, when we wanted to visit the TradeStation’s learning webpage, we were disappointed to see that it is under construction. That’s right - there are no educational tools or other assets to help you learn about reading. It seems like YouCanTrade is the only option.
As a result of this remodeling, the articles and other market news available at the TradeStation Knowledge Center are over a couple of months old. This is highly confusing, not to mention misleading to the clients, especially the ones who are just starting out. If you ask us, the only satisfying option that we found here is the Trading simulator we mentioned above, which you can find in the Trading Center. With it, you can simulate and go through actual experiences and obstacles on the market, so when the time comes you are ready to shoot for the stars.