Hi guys! I am looking for the best broker platform. I know there are many platforms around Make some research I found those 2 platforms with the best reviews and ratings. Can you provide me your thoughts on these? TradeStation.com charge a platform fee of $99, does it worthwhile? Regards, Pedro
Despite the broker surveys that are published, there really is no such thing as the "best broker platform". Each has strengths and weaknesses and you need to match their strengths to your specific needs to find the best broker for you. So you need to consider what's important for you. For example: charting and analysis tools, options, automated trading, spreads, equities vs futures, etc. Lots to consider.
I go for finding a broker you are happy with when it comes to money, and a third party vendor for all the bells and whistles. that way when your trading changes and your need for bells and whistles changes you can cancel which is easy, and you don't have to switch brokers which is hard.
Thanks for the response. I am confused about why TradeStation charges a platform fee and Interactive Broker not, is there a huge difference between the 2 platforms?
If TS charges $99/M as above, the yearly 12*99=1.2K makes 60K for your entire life of 50 years. So, if they charge upfront 20K one time, I can sign the platform. I will be happy since I made 40K IN ONE DAY.
TS is a platform and/or broker for amateurs. I suggest IB, plus a professional DOM like Button Trader and a charting package like Sierra, NT, or Multicharts; that is, if you are serious about your trading.
For the personal chart, better to program myself, in the weekend. If you borrow something like Bollinger chart, no more improvement of skill in the future.
They are both fine. The difference in cost is because TradeStation is more powerful if you write your own custom strategies and indicators. You can also get the monthly fee waived by trading certain number of shares and/or futures contracts. Also it is completely free if you only trade forex.