Today we are going to be taking a look at TradeStation, a tech-heavy platform that is probably not for beginners. But while this program may leave inexperienced traders scratching their heads it could very well be the perfect option for the seasoned professional that is very serious about their work.
It features a comprehensive interface, competitive technology, and a socially conscious component that other platforms would do well to imitate. Let’s find out if all of these excellent features make TradeStation a good option for you as we now take an in-depth look at its pros and cons!
Things You Will Like
- Comprehensive: With the desktop application you are going to get all of the information that you could possibly hope for in a program of this nature. The expansive list of tools and resources is designed to fit the needs and strategies of any trader or professional investor.
- Competitive: TradeStation leads the industry in historical trade data, and also features 270 impressive indicators that give users all of the information they could ever hope for.
If you like to utilize a lot of data you really aren’t going to find a program that is better than TradeStation.
- TradeStation Salutes: Last year, TradeStation launched a program that is designed to help support active military personnel. The program is called TradeStation Salutes, and it offers free stocks, ETFs, and options trades to active duty members of the military. Veterans will also enjoy freedom from minimum basic fees, as well as free real-time data.
With all the scams and falsely advertised promises that are out there, it is natural to be a little bit skeptical of something like this but this program is the real deal and I personally think that it is a nice touch.
Hopefully in the near future, other platforms will follow TradeStation’s lead and adopt similar programs.
Things You Might Not Like
- It’s a Little…Much: Features and utilities certainly are not a bad thing but the sheer comprehensiveness of this platform makes it difficult to master. Even after logging many, many hours on this program you are most likely not going to feel as though you have completely mastered it.
Now, this is something of a bittersweet fault. Most users are probably going to prefer a comprehensive program to a barebones alternative. One of the side effects of having a lot of features is struggling to understand them all.
- Platform Design Could Use an Update: It’s been a little while since this program’s format has had the benefit of an update which I think would be a nice touch. As I just mentioned this platform is not quite as easy to use as we would hope it to be, and a platform update could help that.
Like I said, this platform probably isn’t going to be for the user that is just starting out in Forex trading. That said, all of the intricacies of the features that make this program a struggle for the freshman trader are also what makes it a great opportunity for those with a little bit of experience.
If you are currently shopping around for a platform I would recommend at least giving TradeStation a try. With a range of fees that remains in line with industry standards (around five dollars per trade) it won’t set you back much to experiment a little bit. In fact, there isn’t even a continuous subscription fee if your account is able to meet the minimum activity requirements.
If you are looking for an advanced platform that is perfect for the serious trader, look no further than TradeStation.