TradeStation Review 2018 [Good Broker, Good Tools]

Is TradeStation REALLY so good? Read the Latest 2018 Review covering Analytics, Charts, Pricing, Fundamentals & Indicators & some surprises

Recommended for full broker integration, trading off charts and frequent traders.  A great price point of FREE for brokerage clients.

TradeStation is a leading brokerage house with excellent execution and low commissions but did you know they have great software also.  Joint winner in the review TradeStation offers enough in its software and broker integration to stand tall with the other vendors.

Recommended SoftwareTradeStation – Review Score 82%

TradeStation Review

 

Pricing & Software – 10/10

With a price point of Free for Brokerage clients and awards from Barrons for the software, TradeStation is a force to be reckoned with.  Excellent customer service, good training, and global market data coverage warrant the highest rating in this category.

TradeStation offers their entire software – TradeStation Analytics for free if you are a brokerage client.  If you only want the software, it will cost $249 per month for end of day data and $349 for real-time intraday data.

These “software only” costs are high because TradeStation wants you to be a brokerage client.  But why not use them as your broker, their super low rates are excellent.

TradeStation has global data coverage and runs on all platforms and covers all vehicles except bonds.  Add to this great customer service and you have an excellent all-round package.

Trade Management – 10/10TradeStation SW

TradeStation again scores 10 / 10 especially if you choose them as your broker, but they do integrate with other brokers if you go for the software only option.

A super slick implementation allows extremely quick execution and opens up the potential for automated system execution.

Fundamental Scanning & Screening – 9/10

TradeStation offers an excellent array of choice and flexibility in market screening and filtering, but not just on volume but a host of fundamentals, including exotic data such as commitments of traders, insider traders and even number of company employees.

You can literally screen on anything you think will get you an edge in the market.   You also get what they call radar screen which is really fast with integrated alerting.

TradeStation Video – A Fun Approach to Trading

News & Social – 7/10

TradeStation has real-time news which is an excellent service but only fails to score top marks here because it does not provide market commentary or a chat community.  But do you really need that?  Some people do, its a factor to consider.

TradeStation offers TradeStation University and a huge wealth of online videos to help you master their trading platform.  They also have a morning briefing which you can tune into online and their selection of professional analysts will give an opinion on the market action and potential strategies.

Technical Analysis 9/10

With over 145 different technical indicators TradeStation packs a big punch in the technical analysis space.  The charts could be a little more intuitive to use which is why it does not score a perfect 10.TradeStation - Find Out More

Stock Systems & Back Testing – 9/10

TradeStation has also cultivated a systems and strategies marketplace called the “Strategy Network” where you can purchase stock market systems from an ecosystem of vendors or even contract someone to develop your system for you in the “Easy Language” code.

No perfect 10 in this round as you will need to learn code to develop your own system.

Ease of Use 18/20

TradeStation is easy to use, but extremely powerful also.  It is probably due to a face-lift to make it more intuitive to use, but none the less a good score of 8/10 is warranted.

You can get an example of how easy to use TradeStation is by watching this Video Training Session.

Essentials of TradeStation

TradeStation was ranked Best by Barrons:

  • Best for Frequent Traders
  • Best for International Traders
  • Best Trading Experience and Technology

TradeStation Services Data Sheet

VendorTradeStation
Pricing & Software
Monthly End of Day$249 or Free For Clients
Monthly Real Time$349 or Free for Clients
Customer Service & EducationExcellent
PC
For MAC
Tablets Smartpones
Market Data CoverageGlobal
Data SpeedExcellent
Stocks
ETF
Mutual Funds
Options
Futures
Forex
Pricing & Software Score10
Trade Management
Broker Integration Stocks
Broker Integration Options
Place Trades from Charts
Live Position P&L
P&L Analysis
Trade Management Score10
Fundamental Scanning & Screening
Real Time Scanning & Filtering
Fundamentals Scanning
Watch Lists with Fundamentals
Fundamental Screening Score9
Technical Analysis
Charts
Multiple Charts Per Desktop
Bar Line HLC Candlestick
Point & Figure
Indicators
Bollinger Bands
Directional Movement
MACD
Momentum
Money Flow
Moving Averages
Parabolic SAR
Rate of Change
Relative Strength / RSI
Stochastics
Volume
Total Number of Indicators145
Drawing Tools
Fibonacci Retracement
Fibonacci Time
Fibonacci Fan
Trend Lines
Text Overlay
Pitchfork
Gann Fan
Technical Analysis Score9
News & Social
News Feed
Real-Time News Feed
News Score5
Systems & Backtesting
System Marketplace
Create Customizable Systems
Back Testing Point & Click
Back Testing Programmatic
Robotic Trading (new)
Systems & Back-Testing Score9
Setup & Usability
SW Setup10
Ease of Use Score8
Usability Points18/20

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REVIEW OVERVIEW
Pricing & Software
Trade Management
Company Fundamentals Screening Integration
News Services & Social Integration
Technical Analysis – Charts, Indicators & Drawing Tools
Stock Systems, Backtesting & Robotic Trading (Automation)
Ease of Use
Previous article3 Critical Insights to Stock Price Moves
Next articleTop 10 Rules for using Stock Chart Indicators Effectively.
Barry D. Moore is a Certified Market Analyst with the International Federation of Technical Analysts with over 20 years of Investing experience, Author & Leading Investment Blogger. Previous lives include holding key executive roles in Strategic I.T. & Business Model Development for Silicon Valley Global Corporations. Learn more about why Liberated Stock Trader was Founded or send Barry a message

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