TradeStation

February 2009. For those who want the latest technology, TradeStation offers it. The software-based trading platform (TradeStation doesn't have a browser-based interface) provides minute-by-minute quotes, automatically updated charts, and executes market orders in a split second, according to the editors at Barron's. There is no browser-based access to accounts, and customers who don't make a certain number of equities, futures, options, and forex (foreign exchange) trades per month pay $99.95 each month to use the software platform. Investors may pay either flat-fee or share-based commissions. Per-share commissions range from $1 for 100 shares to $8 for 1,000 shares, while flat-fee costs range from $9.99 each for up to nine trades per month to $6.99 for 30 or more trades per month. The account minimum is $5,000 for non-day traders. If you want a less expensive broker that offers sophisticated technology, Interactive Brokers, according to reviewers, may be a better choice for you.

Some of our reviewers exclude TradeStation this year, since it is geared toward active traders. Barron's, one of our top reviewers, does review TradeStation, and the Technical Analysis of Stocks and Commodities Reader's Choice Awards include this broker as well.