Best Reviewed
Online Brokers
- Best online broker overall Fidelity *Est. $7
- Best discount broker TradeKing *Est. $4
- Best for active traders ThinkOrSwim *Est. $9
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- Excellent research tools
- Direct-access trading
- Fully customizable trading platform
- Active online community
- Software-based only
- Costlier than most
- Learning curve
TradeStation is a good choice for those who want the latest technology. The software-based trading platform provides minute-by-minute quotes and executes market orders in a split second, according to Barron's. Customers who don't make a certain number of trades per month pay $99.95 monthly to use the software platform. The account minimum is $5,000 for nonday traders. If you want a less expensive broker with sophisticated trading technology, thinkorswim may be a better choice, reviewers say.
TradeStation is not as extensively reviewed as some other online brokers. However, reviews can be found in Barron's and the publication Technical Analysis of Stocks & Commodities.
Our Sources
1. Barron's
TradeStation is ranked fourth among 22 in this year's survey of online brokers. The review terms it "The go-to broker for those who develop their own trading systems." However, reviewer Theresa W. Carey says, "It's a lot of technology, and not for the casual trader."
Review: Newest Trading Play: Screen Savings, Theresa W. Carey, March 10, 2010
2. Technical Analysis of Stocks & Commodities MagazineDetails/Subscribe
Subscribers to the magazine Technical Analysis of Stocks & Commodities give TradeStation a number of Readers' Choice awards for 2010. Those accolades include best trading system for stocks, futures and options, and best institutional, professional, and online analytical platforms.
Review: 2010 Readers' Choice Awards, Editors of Technical Analysis of Stocks & Commodities, 2010
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