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4 alternatives to TradeStation

If you’re searching for a platform similar to TradeStation, here are some brokers to consider.

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Kimberly Ellis

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TradeStation is an online brokerage service that offers a professional-level trading experience with powerful trading technology. But its high minimum activity requirements, $150 account service fee and $50 inactivity fee may turn you off. Here are four alternatives that may be a better fit.

TradeStation alternatives

Interactive Brokers

Interactive Brokers

4.7 / 5 ★★★★★

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Interactive Brokers has an impressive lineup of advanced charting tools, including international trading info and real-time scans. Its research tools are customizable and fully equipped with hundreds of indicators. It also offers access to global markets, including major exchanges in Japan, India, Germany and Australia. The TradeStation platform currently only runs on a Mac through a Windows emulator. A big factor that makes Interactive Brokers a solid alternative to TradeStation is its desktop platform for Mac OSX designed to operate seamlessly without jumping through hoops. But you'll need a net worth of at least $20,000 to qualify for an Interactive Brokers account.
Account typesBrokerage, IRA, Custodial, Joint brokerage, Trust
Annual fee$0 per year
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures, Forex, Treasury Bills

Robinhood

Robinhood

4.6 / 5 ★★★★★

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Robinhood is a free, no-frills trading platform that lets you trade stocks, options, ETFs and crypto without commissions or fees. You won't find any account minimums, inactivity fees or annual fees. The app has a simple design and an intuitive interface, making it a good option for rookie investors. Unlike TradeStation, Robinhood doesn't offer in-depth research tools such as stock screeners or options analysis. But you can upgrade to Robinhood Gold for $5 a month to access premium features, including professional research from Morningstar and Level II market data, so you can still make informed decisions on a user-friendly platform.
Account typesBrokerage, IRA, Margin
Annual fee$0 per year
Available asset typesStocks, Options, ETFs, Cryptocurrency

E*TRADE

E*TRADE from Morgan Stanley

4.3 / 5 ★★★★★

E*TRADE is a well-known trading platform with a wealth of professional trading tools. Access free streaming market data, live market commentary and stock screeners. You can also identify trading opportunities for your watch list using over 100 technical studies and more than 30 drawing tools. But where E*TRADE shines is its mutual funds selection totaling over 9,000, including over 4,400 no-load, no-transaction-fee mutual funds. Unlike TradeStation, E*TRADE also offers low-fee banking services that are fully integrated with your E*TRADE investment account. You can view both your investing and savings account in one place and earn competitive interest rates, so your money is always working.
Account typesBrokerage, IRA, Education (529), Custodial, Joint brokerage
Annual fee$0 per year
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, CDs, Futures

Webull

Webull

4.7 / 5 ★★★★★

Webull is a discount brokerage firm with a powerful mobile app and zero commission fees. Although Webull has fewer technical indicators and drawing tools than TradeStation, day traders pay less for Level II advanced data than TradeStation. For example, Webull charges $1.99 per month to access Level 2 Nasdaq TotalView, whereas TradeStation's Nasdaq TotalView costs $17 per month for nonprofessionals ($153 for professionals) on top of its required $25 monthly market data package. Webull traders also enjoy increased buying power with competitive margin interest rates. For instance, Webull charges 6.99% for balances up to $25,000, compared to TradeStation's 9.5%. Both platforms require a minimum of $2,000 to qualify for a margin account.
Account typesBrokerage, IRA
Annual fee$0 per month
Available asset typesStocks, Options, ETFs, Cryptocurrency

Pros and cons of TradeStation

Here’s what makes TradeStation a unique trading platform and a few things to consider before signing up.

Pros

  • Award-winning analytic tools
  • Extensive educational resources
  • Active trader community
  • Commission-free trades for active military, veterans and first responders

Cons

  • Difficult learning curve
  • Requires a $500 minimum deposit for cash accounts and $2,000 minimum for margin
  • Inactivity fees and account service fees unless you meet minimum activity requirements

How to transfer your brokerage account

TradeStation uses the Automated Customer Account Transfer Service (ACATS) to transfer cash and securities electronically. So if you’re breaking up with TradeStation, you should expect to pay $125 to move your funds and close your current one. Steps include:

  1. Completing a transfer form with your new broker.
  2. Your current broker processes the transfer.
  3. Your old broker moves the funds to your new broker within six business days.

Note: You may not be able to transfer your old broker’s proprietary funds.

Compare trading platforms

1 - 10 of 10
Product USFST Finder Score Available asset types Stock trade fee Minimum deposit Cash sweep APY Signup bonus
Tastytrade
Tastytrade logo
Finder score
8.8 Great
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
$0
$0
N/A
Get $50-$5,000
Go to siteView details
Robinhood
Robinhood logo
Finder score
9 Excellent
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.5%
Get a free stock
Go to siteView details
SoFi Invest®
SoFi Wealth Management logo
Finder score
8.2 Great
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.02%
Get up to $1,000 in stock
Go to siteView details
OPTO
OPTO logo
Finder score
6.2 Standard
Stocks, ETFs
$0
$0
N/A
Earn up to $300
Go to siteView details
eToro
eToro logo
Finder score
8 Great
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.9%
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
Go to siteView details
Public.com
Public logo
Finder score
8.6 Great
Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Treasury Bills, High-yield cash account
$0
$0
4.35%
Get up to $10,000 and transfer fees covered
Go to siteView details
Stash
Stash Investments LLC logo
Finder score
7.4 Great
Stocks, ETFs
$0
$0
0.1%
Get $10 when you sign up and deposit $5
Go to siteView details
Wealthfront
Wealthfront logo
Finder score
9 Excellent
Stocks, ETFs
$0
$500
5%
Get $50
Go to siteView details
Zacks Trade
Zacks Trade logo
Finder score
7.6 Great
Stocks, Bonds, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Get up to $500
Go to siteView details
M1 Finance
M1 Finance logo
Finder score
8.2 Great
Stocks, ETFs, Cryptocurrency
$0
$100
4.00%
N/A
Go to siteView details
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What is the Finder Score?

The Finder Score crunches 147 key metrics we collected directly from 18+ brokers and assessed each provider’s performance based on nine different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the best brokerage accounts.

We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

Read the full Finder Score breakdown

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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Kimberly Ellis is a personal finance writer at Finder, specializing in banking and financial literacy. After teaching in public and private schools, Kimberly zeroed in on personal financial education to help families and kids develop lifelong money skills. She hails from New York City, graduating summa cum laude from Queens College with a BA in elementary education and mathematics, as well as a New York State teaching certificate. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick. See full bio

Kimberly's expertise
Kimberly has written 79 Finder guides across topics including:
  • Kids' banking
  • Financial literacy for kids
  • K–12 education
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