Investing is not a thing for men in suits held with strict times and formality anymore. With the introduction of online investing, almost anyone with adequate internet connection, a gadget for the application, and enough budget and investing skills can get a lot for their money. Nowadays, investing is a great way to ensure that you get the most of your money especially if you have long term goals and enough patience and dedication to make your money grow. TradeStation is one of the most popular platforms for this. This article will thoroughly review its latest changes, features, and performance.
The service was founded in 1982 and has always dealt with online securities and brokerage. Its headquarters is located in Florida and it has offices present in Costa Rica, New York, Chicago, and other states. Currently, it is acquired by the Monex Group which is one of Japan’s top brokerage firms. TradeStation has always been known as one of the more complicated platforms which primarily cater to trading experts and professionals. With its latest updates, though, it is now trying to cater to investment beginners who want to dip their toes in the complicated world of online investing.
TradeStation has an uptime of 99% which shows very high reliability. With them, users only need to go through six steps before starting an account that is fully funded. Within the same day, they can already start trading equities. With them, users can access the service through their browsers with the TradeStation 10 platform, through a mobile application, and the FuturesPlus platform. These are designed in a very modern interface that is easy to navigate through. It was also well-coded, with the website being fast to browse through regularly. You can connect to more than 80 application such as Yahoo Finance and VectorVest for you to be aided through the whole process.
The application uses a unique trade ticked called Matrix which smartly adapts to whatever asset class you are planning to trade. It is intuitive through the whole process. The application has a lot of available tools upon launching including a Twitter feed, video guides, workspaces, and economic calendars. This can also be customized to follow your specific process as some may prefer researching deeply first before trading. They offer connectivity to up to 40 options and equities. Setting up your watchlists is also very easy.
The TradeStation mobile app is also easy to use. Upon launching, you can see multiple watchlists that can be vital for your trading plan. Charts and data sheets can be easily opened and closed. Users can also customize this to add more trading tools. The main trading process can also be done with just a couple of clicks.
The service offers a lot of indicators that can help test out strategies based on historical data. Notifications can also be easily seen by users in order to advise them on their next moves.
Education and research is another great strength of the application. They have a lot of available articles and video tutorials to teach you about the trading process. They also include a lot of real-time updates about trading trends and events to help you in planning your trading tactics. They also have a wiki where trading terminologies are thoroughly defined. Lastly, they have a discussion forum where people can chat with other traders in order to get advice about market trends and strategies.
The service also allows cryptocurrency trading for currencies such as Ethereum, Bitcoin Cash, and Bitcoin. They offer a low fee of 0.3% every trade of the accounts.
There are only a couple of downsides with the service. First, users may encounter a lot of additional fees especially for their funding, need for additional outlays, and subscriptions. They even have an inactivity fee if you are not able to maintain a balance of $2000.
A downside to having a lot of features available, too, is the confusion that may arise from newer users who are just starting to use the service.
In the end, TradeStation reviewed very well compared to others and is a very solid choice for trading. It has a lot of guides for beginners and useful features for expert ones. This comes in a very good interface.
- Contains a lot of features
- Friendly for newer users
- Hassle-free trading process
- Has a lot of additional fees