TradeStation provides online foreign exchange trading (FX), CFD trading, and other related services. It was founded by the United Kingdom in 1999, and has its headquarters in London, Europe’s financial center.Platform is called a derivatives platform. This means that it focuses on trading derivatives, or “CFDs”. A derivative is a financial instrument that is priced according to the value of an asset (normally, stocks, bonds, commodities, etc.). In the world of cryptocurrency, derivatives derive their values from specific cryptocurrency prices.This review is focused on TradeStation’s cryptocurrency offering.
Crypto CFD Contracts Supported
TradeStation Crypto provides CFDs on cryptocurrencies including Bitcoin, Ethereum Litecoin, and Bitcoin Cash. You can easily switch between asset classes. For example, you can go from options to crypto and vice versa.
US-investors
a tadala, we’ve received confirmation that US investors are allowed to trade at TradeStation Crypto. Investors in the US should form their own opinions on this matter, since state regulations could also hinder their cryptocurrency trading.
Mobile Support
The majority of crypto traders believe that desktop trading offers the best conditions. Computers have a larger screen. On bigger screens, traders can view more information. It will be easier to view the trading chart. Not all crypto CFD traders require desktops to trade. Some traders prefer to trade crypto CFDs via their mobile phones. You may be one of these traders. If so, you will be pleased to know that TradeStation Crypto can also run on mobile devices.
TradeStation Crypto Trading View
Different exchanges have different views on trading. There is no such thing as “this is the best overview”. It is up to you to decide which trading view suits you best. The views all have one thing in common: they show an order book (or at least a part of it), a chart with the price of the CFD-contract chosen, and the order history. They also usually have buy- and sell boxes. Try to look at the trading views before you decide on an exchange to see if it suits you.This is an example of a trading view on TradeStation. It is the “Day Trader” interface.
Daytrader Crypto Trading View on TradeStation
Only you can decide whether the trading view above is right for you. There are many ways to customize the trading view according to your preferences.
TradeStation has its advantages
OptionsStation Pro
This highly regarded tool will allow you to evaluate any option positions, or possible strategies. OptionsStation Pro allows you to visualize the profit and loss of a trading strategy. You can also set up trades for multi-leg options quickly and easily. TradeStation desktop trading platform integrates the tool for easy use. This tool is included in the broker’s platform TS SELECT at no extra cost.
Portfolio Maestro
This tool can be used to optimize a portfolio for any combination of holdings. It provides portfolio-level reports on your performance. Portfolio Maestro can help you minimize your portfolio’s risk and reduce the downside. The broker’s desktop trading platform is also equipped with this feature. The broker’s TS Select platform offers this feature at no extra cost.
Trading commissions
TradeStation’s simplified pricing plan gives clients access to low-cost commissions, multiple platforms for trading and real-time information.TS Select: This broker offers $0 commissions on stock and ETF trading, which puts it in line with major competitors such as Fidelity and Charles Schwab. However, it does not offer all of their benefits (see below). This plan allows you to trade options for $0.60 per contract and access all of the broker’s tools such as OptionsStation PRO and Portfolio Maestro via TradeStation’s desktop platform. No account minimum is required.TradeStation’s commissions are competitive on ETF and stock trades, as well as the options commissions. These commissions are the best of the online brokers that offer full service. The industry standard for options is $0.65 per option contract. TradeStation, therefore, beats the industry standard by $0.05 per contract.
Trading Platforms
TradeStation provides two platforms, one for desktops and another web-based. This puts the power of the broker at the forefront.Desktop platform is the most popular and provides a fully customizable environment that will appeal to professionals. Traders have the option to use charting indicators that are already built in by the broker or to create their own. You can also create your own indicators. The platform has more than 180 technical, fundamental and other indicators. You can also backtest your strategy using decades of historical data. There are endless possibilities. The web-based platform has all the functionality of desktop, but is easier to use for investors who are less experienced. This platform offers streaming real-time quotations, one-click execution of trades, dozens technical studies, historical data, streaming data, watchlists, and more.The broker also offers a mobile app called TradeStation Mobile, which allows you to view charts and technical indicators from desktop platforms. You can monitor a watchlist with streaming quotes and place trades among other features. You can also see up-to-the minute data on detailed options pricing and create trade alerts for technical factors you are watching.
Tradable securities
TradeStation offers the full range of securities you would expect from a broker that caters to advanced traders. Investors can also swap futures contracts or futures options in addition to the standard offerings of mutual funds, ETFs, stocks and bonds. Only forex is missing, which is a rare asset class. TradeStation offers cryptocurrency trading as well (see below).
Cryptocurrency Trading
TradeStation, unlike many brokers, offers direct cryptocurrency trades. This allows traders to buy or sell Bitcoin, Bitcoin Cash Ethereum, Litecoin USD Coin, and a few other coins. The pricing on crypto trades are better than other sites. Commissions start at 0.6 percent and drop to 0.025 percent if you have more than $10,000,000 in crypto trading volume over a 30-day period.You can trade or withdraw your assets at any time, without incurring penalties. The broker offers its own trading platform, which includes features such as one-click order entries, charts, multiple market pricing, and more.TradeStation will allow IRAs the option to trade cryptocurrency in late 2021. Clients will be able to trade high-risk products in their retirement account if they choose.
Cons: TradeStation can improve in certain areas
Mutual Funds and Fees
The broker offers more than 50 different fund families. These include some of the most popular and largest such as Vanguard and Blackrock. The list of funds available is a bit thin. There are only 2,000 options, compared to over 10,000 offered by other brokers. TradeStation includes many top fund companies so you will still find what you are looking for.TradeStation charges $14.95 for the purchase and sale of a mutual fund. This is a far cry from other brokers who offer literally thousands without any transaction fees. Fidelity, Vanguard, and other large brokers offer thousands of mutual funds that are free from transaction fees. TradeStation does not suit mutual fund investors.
No fractional shares
TradeStation doesn’t support fractional shares for either dividend reinvestment or purchases. It may not matter to active traders, who will find TradeStation a good partner. But beginning investors are unlikely to find this a desirable characteristic in a broker.
Account Fees
TradeStation charges a variety of account fees that can be costly.Brokers charge $50 per year for inactivity if you haven’t traded at least five times within the last 12 months, or if your average equity balance is less than $2,000 each month. This fee is easy to avoid. However, some major brokers have completely eliminated the inactivity fee.Brokers charge $35 per year for all IRA accounts.Terminating an IRA costs $50.Bankrate found that the cost of an outgoing account transfer is $125. This is the highest price among all brokers.The annual crypto admin fee is $100Investors may not be faced with these fees very often, but they will find them annoying when they do. Virtually no other broker charges an annual IRA or inactivity fee. Fidelity and Interactive Brokers do not even charge for transferring your account.
