TradeStation is a good choice for those who trade frequently and 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. An active online social network adds to TradeStation's appeal. 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, Interactive Brokers (*Est. $0.005 per share) may be a better choice, reviewers say.
TradeStation is not as extensively reviewed as some other online brokers. However, we did find a thorough review from Barron's, and the publication Technical Analysis of Stocks & Commodities lists this broker as the winner of a few 2011 Readers' Choice Awards.
TradeStation is ranked fourth among 27 in this year's survey of online brokers. It is named the best online broker for frequent traders and among the top brokers for international traders. However, reviewer Theresa W. Carey says that it is "clearly not … a broker who is catering to the uninitiated."
Review: Cut the Cord, Theresa W. Carey, March 12, 2012
2. Technical Analysis of Stocks & Commodities Magazine
Subscribers to the magazine Technical Analysis of Stocks & Commodities vote TradeStation the first runner-up for best stock brokerage, best futures brokerage and best forex (foreign currency trading) brokerage. TradeStation also wins awards for best institutional, professional, and online analytical platforms.
Review: 2011 Readers' Choice Awards, Editors of Technical Analysis of Stocks & Commodities, 2011