TradeStation Review 2022: Is A Scam Broker?

TradeStation

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

Tradestation is an innovative broker that makes traders believe in the financial market and the trades. It empowers the traders or clients to claim their financial edge and be a step ahead in the market. The online services of the Tradestation broker are open for both novice and professionals.

The broker has technology, brokerage services, education, is committed, and helps in unlocking the potential of traders. 

The best investors can expect from the brokerage services is what could be called the Tradestation. With the article, readers will get into the broker’s services, their tools, and what they have to do to make it to the edge of financial services. 

The manifesto of the broker details the values and beliefs of the broker. Traders can go through it on their website, www.tradestation.com, and learn more about them for better investments and know how they can make the most out of their potential to trade. So, let’s begin the Tradestation journey of financial investing. 

Pros and Cons

A regulated broker with so much to offer for a better trade makes it top-notch itself. But as we have all heard somewhere or other that all good things come with flaws. That’s what happened with the Tradestation broker; they are unique and supper for investing with but have a few drawbacks. Below are they mentioned for a quick review: 

Pros:

  • High-quality trading platforms 
  • Advanced research 
  • Commission-free trading 
  • Technological tools 
  • Active trader community 
  • Low trading fees 
  • Educational hub 
  • Multiple fee structures 
  • Regulated broker 

Cons: 

  • Free trading requires TS to select 
  • Transaction fee for mutual funds 

Tradestation Is A Scam Broker? Check Its Regulation?

The award-winning broker is working under the TradeStation Group, Inc., providing brokerage services globally. The broker was initially founded in 1982 in the US with the regulation of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). 

Moreover, it has a long trade record making it safe for investing with disclosure of the trade details. Hence, the Tradestation is a legit broker and not a scam for investing as it could be trusted. 

Tradestation Trading Account Types?

The tailored accounts of Tradestation are for its clients serving all the needs of the trading journey. Traders can find the right account that serves their requirements. There are a variety of account types with Tradestation for having a suitable trade. Traders can choose the one and begin investing in the market. 

Individual and Joint Accounts

The most frequently used and popular account of Tradestation is individual and joint accounts. The individual is the personal brokerage account with the traders who want to be the sole owner of the account. Whereas the joint account with the right of survivorship is provided the facility of two account owners. In case of any misfortune like the death of one, then the remaining owner of the account takes over. The trader gets all the rights of the account. 

Next are the joint tenants in a common account, where there are two or three account owners. The account owners have a specified percentage of account share. In case of passing of one account holder, the share of his is transferred to his/her beneficiaries. Thus, it is different from the joint survivorship account. 

Last is the custodial account; these are for minors and have the facility of a guardian to manage it on its owner’s behalf. The account has the limitation of no crypto accounts. 

Retirement Account

The account is for retired persons; they can take control of their investments with the self-directed IRA. An account to accomplish the retirement goals, the account provides an all-in-one solution for managing the trade. Traders have the option to invest in cryptos, stocks, and options with the benefit of tax. 

Retired traders can have stock investments with commission-free trading, zero custody fees for cryptos, and zero commission for the options contracts. Moreover, they have the choice of selecting the account. There are the following accounts available with Tradestation: 

  • Traditional IRA
  • Roth IRA
  • Rollover 

Entity Accounts

There are a variety of entity accounts that could be used for trading online with Tradestation. We’ll be learning about the accounts one by one, so let’s begin: 

Trust

The trust account is a legal entity account which is created by the grantor having the administration of the trustee(s). The account is opened with an assignment of a beneficiary and is sign proofed on a written document called the trust agreement. The trusts are ruled by state laws, and the accounts usually are in the name of the trust. 

Corporation

The corporation account is the corporate trading account with the ownership of a corporation. The trading account is managed by an officer which is appointed by the corporation. A fully legal account with articles and certificates in the name of the corporation. These are also governed by state laws. 

General Partnership 

A partnership account that is managed by the general partners. The account is listed with the full name of the partnership firm with the written agreement in the name of the partners. It has several partners and is ruled by state laws. So, the number of partners depends on the rules of the state. 

Limited Partnership 

The account of a limited partnership has one or more than that general partner; they manage the account and other partnership affairs for easy trading. It may include one or more limited partners with passive interest. The account is duly registered in the full name of the partnership with written documents and agreements. This is also governed by state laws. 

Limited Liability Company 

The LLC is the account that has the membership of managers and passive members. There is the ratio of one or two managers, and the other begins the passive members or the limited partners. The account is properly assigned and written agreement in the full and legal name of the limited liability company. In addition, it is ruled by state laws. 

Sole Proprietorship

An individual account is termed the sole proprietorship account. It is run under the business name. It does not have any entity associated with the sole proprietorship. The business is totally owned by the individual with the account in the name of the individual.

How To Open an Account? With Tradestation

The account opening with Tradestation is completely digital, and traders can easily open the account. However, the account opening for the US brokers is regulatory. The account opening takes one or two business days for getting approval and getting the access. Below are the steps for the process: 

The first step of account opening is selecting the trading account. Traders can go with the one that suits their needs as Tradestation has a number of brokerage trading accounts. Traders moreover have personal managers to assist them with the trading. 

The second step is entering the personal information like name, address, email address, contact number, documents, etc., for verification by the broker. It is necessary that traders provide original information for using the trading account; otherwise, they may get rejected for account access. 

The third step is employment information; this step requires employment position, income, and employer name. This also is for verification purposes. 

The fourth step is financial information and the experience that the trader or client holds in the market. Traders have to answer questions online to help the broker analyze the knowledge, and it may be necessary to estimate the net worth or annual income of the trader. 

The fifth step is verification, where the broker checks the identity proofs, address, license, etc. 

The last step is to deposit the funds and begin trading as the account has been created once the trader is verified. 

Tradestation Trading Platform Types?

The trading platforms of the Tradestation are reliable and powerful for advanced trade, making traders confident. The broker has 30 years of experience in the field of trading and has the best support tools for easy investing and market prediction. Traders can use the following with the broker: 

  • Real-time market data 
  • Order execution technology
  • Access to multiple assets 
  • Reliable trading systems 
  • Desktop 10 
  • Web Trading 
  • Mobile Apps 

Desktop 10

Desktop 10 is the trading platform of Tradestation, which helps in making the trade more market-friendly. It is all about the speed and flexibility of active traders. Thus, a trader is able to enter the market with confidence, get help for a successful trade, have charts and patterns, get faster market opportunities, and have the most wonderful trade experience.

Traders can benefit from using the technology with the following: 

  • Advanced trading platform: This helps the traders to design, test, optimize, monitor, and automate their custom trading strategies. 
  • Order management 
  • Dynamic market scanning tools 
  • Customizable charts 
  • Reliable trade execution 
  • Speedy trades 
  • Radar screen 
  • Easy language 
  • Strategy backtesting 
  • Matrix 
  • TradingApps and TradingApp Store
  • OptionStation Pro 
  • Simulated Trading Mode 

Web Trading

TradeStation Web Trading is the browser that could be accessed with different devices like Mac or PC web. Traders with this get to know the news, monitor the market, place their trades and do a lot more stuff. This is a powerful trading platform of the broker with the following features: 

  • Real-time data 
  • One-click trade 
  • Regular market monitoring 
  • Updated news 
  • Trade executions 
  • Placing orders 
  • Flexible to use 
  • Fast and efficient 
  • Streaming market data 

Mobile Apps

The mobile application of the broker makes it usable globally and every time of the day. All the trading in the hands of the investors or clients isn’t that fantastic. Traders can get their data synced, trade online, monitor easily, check market positions, have opportunities at hand. 

The Tradestation application is next level as traders can have the advantages just sitting at home or anywhere: 

  • Core features of Hot Lists, Quotes, and The Matrix
  • Simple and user-friendly 
  • Easily paired 
  • Gives market access 
  • Powerful tool 
  • Customizable 
  • Has charts and patterns 

Tradestation Trading Instruments?

The Tradestation is amazing for investments as it has the given below trading instruments/products: 

  • Stocks 
  • ETFs 
  • IPO Trading Platform 
  • Options 
  • Futures 
  • Futures Options 
  • Crypto 
  • Mutual Funds 
  • Bonds

Tradestation Commission and Spreads

Commission on the trading with the Tradestation broker is zero with low transaction fees. However, there may be some charges on certain trading like the service fees, inactivity fees, etc. Therefore, traders can get into the insights of the broker and get all the details. The broker has disclosed full information for transparent services. 

Spreads are the charges of the broker based on the instrument; spreads may be low or tight depending on the instrument and the market quotes. Traders can analyze these with the trading platforms’ help. 

Leverage

The leverage is the loan offered by the broker for opening at a high market position. Traders can use it as per their requirement; however, they should avoid more use of it due to the risk involved. The stocks mostly have a 25% margin rate and overnight chargers of 50%. It has equity margin interest rates as low as 3.5 percent, so it becomes easy to buy them in the market. 

Tradestation Deposit and Withdrawal Process?

The traders can transfer their funds into the trading account and withdraw them simply with the use of a bank account and smart transfer techniques like wire transfers and electronic transfers. 

The broker has no limit for the deposit or withdrawal; however, the withdrawal process may take some time due to verification. The broker checks the withdrawal application, verifies it with the account details of the broker, and this may take 2 business days. 

The trader has the following for deposit and withdrawal: 

  • Bank accounts 
  • Bank wire transfers 
  • E-wallets 
  • Credit/debit cards 

Education and Research Support

Education and research are the necessity of the traders and clients in the path of successful trade experience. Therefore, Tradestation provides education material for making the traders aware of the market and updated with all the trade knowledge. Here is the educational material of the broker: 

  • New to Trading 
  • Learn to Trade 
  • Using Tradestation 
  • Frequently Asked Questions
  • Market Insights 
  • Trading app Store 
  • Support Forum 

Research is the basic step of the trade as without deep research; traders cannot invest in the market. They can use the trading tools for this purpose, such as the price data of history, indicators, strategies, etc. 

Customer Support 

The customer support of Tradestation is professional. They have various options in the contact us tab to help their clients. Traders can check with the get answers now, find it fast, do it yourself having all the information. With this, traders can: 

  • Chat with team 
  • Browse FAQ’s 
  • Take help of virtual assistant 
  • Fill the support forums 
  • Available Monday to Friday 
  • Timings are 8 am to 5 pm 
  • Email address is available online for different queries like sales, live chat, and institutional 
  • There are contact numbers as well for connecting 

Final Verdict

The Tradestation broker has the best trading services with the trading accounts that are made in consideration of all the clients of the market. In addition, there is commission-free trading, low transaction fees, trading platforms, various trade instruments, customer support, etc. Thus, a reliable and advanced broker with potential market opportunities. 

However, traders should check with the brokers before investing as they might find the trading instrument or not, and the services that they require should also be available. 

In my opinion, you can easily trade with the most popular and common trading platform MetaTrader 4 (MT4) which is offered by a reputed brokerage firm Investby.

FAQ’s 

How to reach the customer support of Tradestation?

A trader can easily connect with the team with the following services in hand: 

  • Live chat 
  • Contact through phone 
  • Email 
  • Support forum
  • FAQ’s 

What are trade instruments available with Tradestation?

The broker has the following trading instruments: 

  • Stocks 
  • ETFs 
  • IPO Trading Platform 
  • Options 
  • Futures 
  • Futures Options 
  • Crypto 
  • Mutual Funds 
  • Bonds

Is TradeStation safe for Trading?

TradeStation is highly unsafe because it has no registration and license numbers. Moreover, you cannot know which regulatory authority is looking after its activities.

Does TradeStation have any good features?

No, it has none. Perhaps, you feel like quitting it after registering.

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