Trading applications simplify the whole process of buying, selling, and analyzing stocks. This is an important tool nowadays as the market is ever changing. Having all the tools to view this and control your assets can help you greatly as time is money. Looking for the best platform for your stocks that contains all of these can greatly help you. One of the most famous platforms is TradeStation. This article is a quick review of Tradestations different features, tools, and more.
TradeStation is a platform that formerly has a reputation for being mostly for professional and experienced traders who want access to complicated features. Nowadays, it is broadening its horizons to make it more accessible and capable of serving new users. This can be seen through its countless guides and tutorials available on their website. They also have made a community called YouCanTrade that guides users through brokerage of cryptocurrencies which has lately been a sought-for commodity. The company’s parent company is Monex Group from Japan. Through their platform, you can manage ETFs, IPOs, Cryptos, and more.
Tradestation is mainly dedicated towards having more speed and convenience for users while still being able to have complete features. With this, you can have more confidence because of having more access to newer updates. The application can help you find opportunities quickly because of real-time updates and guides that are based on market trends and algorithms.
The application is also filled with a lot of applications that can help users.
One of these is RadarScreen that lets you see the latest trading opportunities. It looks through multiple symbols and technical indicators for this. The Radar Screen takes time to learn but can definitely help a lot once you are fully familiar with it. This uses the EasyLanguage which is the technical coding used by the service for designing indicators which can guide your trading strategies. It uses a mix of English phrases and technical terms.
The application also has the Strategy Back Testing. This can be used to guide your trading tactics by showing you historical data that lets you see trends. It is good to consult this first before creating your decision.
The Matrix is a collection of tools for trading that is also called the “Swiss Army Knife”. It mixes an order-tracking system, market depth window, and a click and drag system for your orders.
They also have a lot of different applications available through the TradingApps and its store. Here, you can have access to a lot of different apps, some which are free, which are made by independent developers. These apps are all helpful for your trading process.
They also have the OptionStation Pro that removes all the guessing that some may do before trading. With this, users can have multiple visual option chains that can help them see the condition of the market which can guide your strategy’s probability.
Lastly, the application allows you to stimulate the whole process with the use of demo trades. These are based on carefully studied market data. This ensures that people can get an idea on what would happen to their money before risking it by actually investing.
The mobile application packs the same power as the desktop application. This allows users to have more convenience when it comes to trading. Included in its different features are Hot Lists, the Matrix, Quotes, and more. It gives access to different trading options, positions, and crypto.
The application allows you to get instant streaming quotes. With them, you can have a custom list of different symbols that you can use to simplify the whole trading process. Different information such as options, futures, stocks, and more can be seen in a single screen view.
The application allows multiple trade and analysis options. You are given a lot of options that help you to create and customize your strategies. You can view additional information among strikes and expirations.
As mentioned above, it allows you to use the Matrix which gives in-depth information about price depth, liquidity, and more. This can all be managed with a couple of taps.
Being in a mobile interface, it can instantly notify users about any updates. You can customize the specific info that will be notified to you such as the volume, net change, and more.
As can be seen, the mobile application is packed with a lot of features that gives you absolute control over the whole trading process. Users can manage their stocks no matter where they are and with maximum convenience and ease.
Assets and offerings included
TradeStation offers a lot of available assets. One of the best parts about it is that they allow trading cryptocurrencies which have lately been the trend among many users. With them, you can trade assets such as stocks, bonds, cryptocurrencies, mutual funds, futures, multi-leg options, and more. However, they are limited as they do not have robo-advisories, fractional share trading, and forex trading.
As mentioned in the introduction, the application has lately been trying to cater even to more amateur users. This can be seen easily with the countless guides available through the different features of the application. They also have specific forums for this. They also have available videos and FAQs in their websites to guide users.
Even with all the tools that they have put to make it more amateur friendly, TradeStation still has one of the highest pricing plans. These can be seen with high prices for their contracts, fees for trading, and more. The only good part is that they do not charge you for your online equities.
TradeStation is still one of the best applications for trading. This can be seen with its countless guides and available tools for you to properly analyze the market before risking your money first. They also offer very good applications available for your desktop and mobile phone.
TradeStation is a very good choice application for users both for those who are still new and industry experts. It contains a lot of tools for analyzing market data for you to be guided before investing. They have a lot of variety in terms of assets and now include cryptocurrencies. However, they still have large fees which might discourage some.
· Has a lot of features for analyzing the market
· Allows you to analyze historical data and algorithm for trading
· Countless guides and tools for guiding newer users
· Has a very intuitive interface for both computer and mobile interface
· Still has expensive fees