TradeStation Review 2024

Autor

Revisor

Last update: 10 months ago

Our veredict

TradeStation offers a robust platform that caters to both new and seasoned cryptocurrency traders, yet it exhibits some noteworthy limitations. With its advanced technical analysis tools, seamless integration between desktop and mobile platforms, and round-the-clock trading capabilities, TradeStation presents an appealing choice for traders interested in the major cryptocurrencies like Bitcoin and Ethereum. Its educational resources, particularly the TradeStation Master Class, provide valuable insights into crypto trading strategies and technical analysis, which can be a significant advantage for traders looking to deepen their market understanding.

However, TradeStation’s cryptocurrency offerings are relatively limited when compared to other platforms that offer a broader range of altcoins. This limitation might deter those looking to diversify beyond the most commonly traded cryptocurrencies. Additionally, the platform’s fee structure, including inactivity and transfer fees, could be a drawback for casual investors who are not actively trading. The lack of negative balance protection is another potential concern, adding a layer of risk for traders in volatile market conditions. Overall, while TradeStation is equipped with excellent educational and trading tools, it is best suited for traders who focus on the major cryptocurrencies and who appreciate a rich set of analytical tools at the cost of a more complex fee structure.

Pros

Cons

4,6

Threenvest Score

Fees

Low 4,2/5

Regulated

FINRA, SEC

With the confidence of Threenvest

Year Founded: Established in 1982, TradeStation has a long track record of stability and innovation in the brokerage industry.

Security Methods: TradeStation employs robust security measures, including two-factor authentication and encryption, to protect user data and assets.

Regulation and Licensing: TradeStation is regulated by top-tier US authorities such as the SEC and FINRA, ensuring compliance with strict financial standards.

Reputation and Reviews: TradeStation has consistently received positive reviews from users and industry experts for its advanced trading tools and comprehensive platform.

Transparency: As a subsidiary of Monex Group, a publicly listed company, TradeStation maintains a high level of transparency by regularly publishing financial statements and complying with rigorous disclosure requirements.

Best Crypto Brokers

Why can you trust Threenvest?

At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About TradeStation

Why Choose TradeStation?

TradeStation is an excellent choice for cryptocurrency trading due to its robust platform and comprehensive tools. The platform provides access to a limited but essential selection of cryptocurrencies, including Bitcoin, Ethereum, and USD Coin. This makes it ideal for traders looking to invest in major digital assets within a highly secure and regulated environment.

One of the standout features of TradeStation Crypto is its advanced trading tools and resources. Users can leverage sophisticated analysis tools, customizable charts, and the ability to develop and test trading strategies using TradeStation’s proprietary EasyLanguage. These features are particularly beneficial for experienced traders who require advanced functionality and precise control over their trading activities.

Moreover, TradeStation’s strong regulatory framework and security measures ensure a safe trading environment. The platform is overseen by top-tier regulators like the SEC and FINRA, which adds an extra layer of trust and reliability. For traders prioritizing security, advanced tools, and a streamlined trading experience, TradeStation Crypto is a compelling option.

Where it falls short

Firstly, TradeStation only offers trading for a few cryptocurrencies, namely Bitcoin, Ethereum, and USD Coin. This restricted range might not satisfy traders looking to diversify their portfolios with a broader selection of digital assets. To improve this, TradeStation could expand its crypto offerings to include a wider variety of altcoins, meeting the growing demand from users interested in emerging and diverse cryptocurrencies.

Secondly, the withdrawal process at TradeStation is cumbersome and expensive. For instance, wire transfer withdrawals cost $35 for non-US clients and $25 for US clients, which can add up quickly for frequent traders. Additionally, the platform does not support withdrawals via popular methods such as credit/debit cards or e-wallets. To address this, TradeStation could reduce its withdrawal fees and introduce more flexible and cost-effective withdrawal options, enhancing the overall user experience and satisfaction.

Features	Explanation
Minimum Trade	TradeStation allows for low minimum trades, making it accessible for beginners.
Trading and Transaction Fees	Fees are higher than some competitors, especially for withdrawals.
Number of Cryptocurrencies	Only offers Bitcoin, Ethereum, and USD Coin.
Crypto-to-Crypto Trading Pairs	Limited to major coins, restricting diversification opportunities.
Website Transparency	TradeStation provides clear and detailed information about its services and fees.
Credit/Debit Card
Storage Offering	Utilizes secure storage solutions with BitGo for crypto assets.
Staking and Rewards	No staking or rewards programs available.
Mobile App and Desktop	Both platforms are user-friendly and feature-rich, but the mobile app has fewer features.
Customer Service	Customer service is decent but has room for improvement in response times and support quality.
Deposit and Withdraw	Limited methods and high fees for withdrawals, making it less user-friendly.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in the crypto market, I find TradeStation to be a solid platform for those who prioritize security and advanced trading tools. While its cryptocurrency offerings are limited to Bitcoin, Ethereum, and USD Coin, the platform excels in providing a highly regulated environment and robust trading features. TradeStation’s user-friendly interface and comprehensive educational resources make it a suitable choice for both seasoned traders and those looking to gain deeper insights into crypto trading. However, the high withdrawal fees and limited deposit options are areas that could be improved to enhance the overall user experience.

Fees

TradeStation charges competitive fees for cryptocurrency trading, though there are some costs to be aware of. Trading commissions are based on a tiered structure, starting at 0.30% per trade for monthly volumes up to $100,000 and decreasing to 0.20% for volumes above $1 million. This makes TradeStation suitable for both small and large traders. Additionally, there is a spread markup, which is the difference between the bid and ask prices, typically ranging from 0.5% to 1%. The platform also charges an inactivity fee of $50 if there is no trading activity for 12 months, and wire transfer withdrawal fees are $25 for US clients and $35 for international clients. These fees can add up, especially for infrequent traders. Despite these costs, TradeStation’s comprehensive tools and security measures can justify the expenses for those who prioritize advanced trading capabilities and regulatory compliance.

Pros

Advanced Trading Tools: TradeStation offers sophisticated charting capabilities, technical analysis tools, and customizable trading strategies, ideal for experienced traders.
Strong Security Measures: The platform employs advanced encryption, two-factor authentication, and multi-signature wallets, ensuring the safety of user assets.
Regulatory Compliance: Regulated by top-tier authorities such as the SEC and FINRA, providing a secure and trustworthy trading environment.

Cons

Product selection

TradeStation offers a robust suite of services and products that cater to both experienced traders and those new to the crypto market. At the heart of its offerings is TradeStation Crypto, a dedicated platform for trading major cryptocurrencies like Bitcoin, Ethereum, and USD Coin. This platform is integrated seamlessly with TradeStation’s other trading services, allowing users to manage their crypto and traditional assets in one place. TradeStation’s crypto trading platform is renowned for its advanced features, including customizable charts, sophisticated analysis tools, and the ability to develop and test trading strategies using EasyLanguage. These tools empower traders to make informed decisions and optimize their trading strategies. Additionally, TradeStation provides extensive educational resources, including webinars, tutorials, and market analysis, which are invaluable for both novice and seasoned traders. Beyond cryptocurrency trading, TradeStation offers access to a wide range of financial instruments, including stocks, options, futures, and ETFs. This comprehensive product lineup allows traders to diversify their portfolios and take advantage of various market opportunities. The platform supports margin trading and offers competitive pricing, making it a versatile choice for traders with different investment strategies. In terms of security, TradeStation employs state-of-the-art measures, including multi-signature wallets and custodial services provided by BitGo, ensuring the safety of digital assets. The platform also complies with rigorous regulatory standards, adding an extra layer of trust and reliability. Overall, TradeStation provides a powerful and secure environment for trading cryptocurrencies and other financial assets, supported by advanced tools and comprehensive educational resources.

Pros

Advanced Trading Tools: Offers sophisticated charting and analysis features for experienced traders.
Extensive Educational Resources: Provides a wealth of tutorials, webinars, and guides to support traders at all levels.
Integration with Other Asset Classes: Allows trading of stocks, options, and futures alongside cryptocurrencies, offering a versatile trading experience.

Cons

Read more about product selection in TradeStation

Account opening

Opening an account with TradeStation is a smooth and fully digital process designed to be user-friendly and efficient. Prospective users begin by visiting the TradeStation website and selecting the ‘Open an Account’ option. The platform guides you through selecting your account type, whether individual, joint, IRA, or corporate, and entering your personal and financial information. The next steps involve providing employment details, trading experience, and verifying your identity by uploading necessary documents like a photo ID and proof of residence. The entire process typically takes 1-2 business days for account approval, allowing new users to start trading relatively quickly. Once your account is approved, funding it is straightforward with various deposit options, including bank transfers, ACH transfers for US clients, and wire transfers. The platform’s intuitive interface ensures that even those new to trading can navigate the setup process with ease. TradeStation also offers extensive educational resources and tutorials to help users get acquainted with its features and tools. However, it’s worth noting that non-US clients may experience a more extended verification process, potentially delaying account activation. Additionally, some account types, such as margin and day-trading accounts, require higher minimum deposits, which might not be suitable for all traders. Despite these minor drawbacks, TradeStation’s account opening process is designed to be comprehensive and user-friendly, catering to both novice and experienced traders.

Pros

Fully Digital Process: The entire account opening process is online, making it convenient and efficient.
Fast Approval: Accounts are typically approved within 1-2 business days, allowing users to start trading quickly.
User-Friendly Interface: The platform guides users through each step, ensuring a smooth and intuitive experience.

Cons

Read more about account opening in TradeStation

Security

TradeStation provides a highly secure trading environment, backed by stringent regulatory oversight and advanced security measures. As a platform regulated by the SEC and FINRA, TradeStation adheres to rigorous financial and operational standards, ensuring a high level of protection for investors. The platform employs state-of-the-art security protocols, including advanced encryption, two-factor authentication, and continuous account monitoring for suspicious activity. Additionally, TradeStation uses multi-signature wallets provided by BitGo for the secure storage of cryptocurrencies, further enhancing the safety of user assets. However, TradeStation does not hold a banking license, which may be a concern for users seeking the additional financial protections typically offered by licensed banks. While the platform offers negative balance protection, which ensures that users cannot lose more than their account balance, it also charges relatively high fees for wire transfer withdrawals. Despite these drawbacks, TradeStation’s strong regulatory framework, robust security measures, and long-standing market presence make it a trustworthy choice for traders prioritizing security and compliance in their cryptocurrency trading activities.

Pros

Regulated by SEC and FINRA: TradeStation operates under the oversight of top-tier regulatory authorities, ensuring a high level of security and compliance.
Advanced Encryption and Security Protocols: The platform employs robust encryption methods and security measures, including two-factor authentication, to protect user data and assets.
Negative Balance Protection: TradeStation offers negative balance protection, ensuring that users cannot lose more than their account balance, which is crucial in volatile markets.

Cons

Read more about security in TradeStation

Customer service

TradeStation offers a variety of customer service options designed to assist both novice and experienced traders. Users can reach out through multiple channels, including live chat, phone support, and email, ensuring flexibility and convenience. Live chat and phone support are available during business hours, and email support typically responds within 24 hours, providing detailed and comprehensive answers to user inquiries. The platform also boasts extensive educational resources, such as webinars, tutorials, and guides, which can help users resolve issues independently and enhance their trading knowledge. However, customer feedback on TradeStation’s support services is mixed. While many users appreciate the detailed responses and the availability of multiple support channels, some have reported slower response times and inconsistent support quality, particularly during peak periods. Additionally, high withdrawal fees and a limited selection of cryptocurrencies are common points of criticism. Despite these drawbacks, TradeStation remains a strong choice for traders who value advanced tools, regulatory compliance, and comprehensive educational resources. By improving response times and expanding its range of supported cryptocurrencies, TradeStation could further enhance its customer service experience.

Pros

Multiple Support Channels: TradeStation offers various ways to get support, including live chat, phone, and email, ensuring users can choose their preferred method of communication.
Detailed and Comprehensive Email Responses: Email support typically provides thorough and detailed answers to user inquiries, helping to resolve complex issues.
Educational Resources: The platform offers extensive educational materials, including tutorials, webinars, and guides, which can help users troubleshoot issues on their own.

Cons

Read more about customer service in TradeStation

Is TradeStation Right for You?

Threenvest score

4,6

Fees

Low 4,2/5

Regulated

FINRA, SEC

Available cryptocurrencies

11 (CFDs)

On the crypto broker website

Threenvest score

4,8

Fees

Low 4,7/5

Regulated

FCA, KNF

Available cryptocurrencies

9 (CFDs)

Naga

Threenvest score

4,7

Fees

Regulated

CySEC

Available cryptocurrencies

7 (CFDs)

Available cryptocurrencies and countries available

TradeStation offers access to cryptocurrency trading, but the selection is limited to only 11 coins. The main cryptocurrencies available are Bitcoin, Ethereum, and USDC. While this platform might not be the best choice for those looking to trade a wide variety of cryptocurrencies, it can be suitable for investors who want to include a few popular cryptos in their portfolio alongside other investments. Unfortunately, some major cryptocurrencies are not available on TradeStation, which could be a limitation for those seeking more diverse crypto trading options. The principal countries where TradeStation is available include the United States and other countries not under stringent financial restrictions. However, TradeStation does not operate in several countries with financial restrictions, such as North Korea, Sudan, Iran, and others typically excluded from financial markets.

Main cryptocurrencies available

Most Important Cryptocurrencies Available at TradeStation (2024)

Bitcoin
Ethereum
USDC
Bitcoin Cash
Litecoin
Ripple (XRP)
Stellar (XLM)
EOS
Cardano (ADA)
Chainlink (LINK)
Polkadot (DOT)
Dogecoin (DOGE)
Uniswap (UNI)
Solana (SOL)
VeChain (VET)
Algorand (ALGO)
Aave (AAVE)
Compound (COMP)
Maker (MKR)
SushiSwap (SUSHI)

Main countries where you can open an account

Countries Where You Can Open an Account on TradeStation (2024)

United States
Canada
United Kingdom
Germany
Australia
Japan
Singapore
Hong Kong
France
Italy
Spain
Netherlands
Switzerland
Sweden
Norway
Denmark

FAQs

1. Can I trade cryptocurrencies on TradeStation?

Yes, TradeStation offers trading for several major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC). This provides a secure and regulated environment for crypto trading alongside other financial instruments.

2. What are the fees for trading cryptocurrencies on TradeStation?

TradeStation uses a tiered fee structure based on trading volume. For monthly volumes up to $100,000, the trading fee is 0.30% per trade. As trading volumes increase, fees decrease to as low as 0.20% for volumes over $1 million. There are also spread markups and potential withdrawal fees to consider.

3. Is TradeStation available in my country?

TradeStation is available in many countries, including the United States, Canada, most of the European Union, Australia, and Japan. However, it is not available to residents of North Korea, Iran, Syria, Sudan, Myanmar (Burma), and Cuba due to regulatory restrictions.

4. How secure is TradeStation for cryptocurrency trading?

TradeStation employs advanced security measures, including encryption, two-factor authentication, and secure storage with multi-signature wallets provided by BitGo. Additionally, it is regulated by top-tier authorities such as the SEC and FINRA, ensuring a high level of protection for users.

5. What methods can I use to deposit and withdraw funds on TradeStation?

TradeStation supports various deposit methods, including bank transfers, ACH transfers (for US clients), and wire transfers. Withdrawals can be made via ACH transfers (free for US clients) and wire transfers, which have associated fees ($25 for US clients and $35 for international clients).

6. What cryptocurrencies can I trade on TradeStation?

As of early 2024, TradeStation offers trading for approximately 11 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP), among others.

7. How do I open an account with TradeStation?

Opening an account with TradeStation is straightforward and fully digital. You need to visit the TradeStation website, select the type of account you want to open, provide your personal and financial information, verify your identity by uploading the necessary documents, and fund your account using the available methods. The process typically takes 1-2 business days.

Final opinion on TradeStation

TradeStation stands out as a comprehensive and secure platform for cryptocurrency trading, offering a range of features that cater to both novice and experienced traders. With its robust regulatory framework, advanced security measures, and sophisticated trading tools, TradeStation provides a reliable environment for managing digital assets. The integration of cryptocurrencies with other financial instruments like stocks, options, and futures sets it apart from many crypto-only exchanges, giving users the flexibility to diversify their portfolios within a single platform. Furthermore, the educational resources available on TradeStation are extensive, ensuring that traders have the necessary knowledge and support to navigate the complex world of crypto trading.

However, TradeStation is not without its drawbacks. The limited selection of cryptocurrencies, currently around 11, may be a disadvantage for traders looking for more variety in their digital asset investments. Additionally, the platform’s withdrawal fees, particularly for wire transfers, are relatively high compared to other exchanges. Despite these limitations, TradeStation’s strengths in security, regulatory compliance, and advanced trading capabilities make it a strong contender in the crypto exchange market. At Threenvest, we recognize TradeStation as a valuable platform for those who prioritize security and comprehensive trading tools, while also noting that it could improve by expanding its crypto offerings and reducing transaction fees.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.