Tradestation as my new broker?

Discussion in 'Retail Brokers' started by innovest_11, Nov 16, 2011.

  1. - The commission at $7,8, or $10,

    - And no autoliquidation problem

    - and does not clear thru Penson

    Before I use Tradestation, any comments on this broker? pls post, thanks
  2. If you don't trade enough during the month you get hit with a $99.95 account service fee.

    No free market data, you pay for every type of market data.

    Margin rate of 7.75% is outright robbery.

    No thanks, I'll take IB and autoliquidation (I've never been autoliquidated at IB).

  3. - I think min 5000 shares per month to avoid the $99 fee, guess i can hit it within 1 day
    - i just need real time nyse n nasdaq data, so only $2 per month
    - margin rate i think is about the same as other broker, except IB is very low

    Autoliquidation - i never get hit by it too, but it somehow limit me from buying more, sometime i would like to carry overnight, but got limit by it
  4. Just read that Tradestation clears thru JPM, so should be quite safe:

    "To the extent TradeStation Securities clears its securities brokerage transactions through J.P. Morgan Clearing Corp. (which, currently, it does only for institutional accounts), we understand that J.P. Morgan Clearing Corp. has obtained excess securities insurance that should, while no assurances can be given, provide protection for any loss of securities and/or cash in excess of the primary SIPC protection."
  5. Read that again. Only institutional accounts are cleared through J.P. Morgan Clearing Corp.

    For regular accounts TradeStation is self clearing. " For securities brokerage accounts the custody and clearing of and for which are handled by TradeStation Securities"

    Want to have some fun? Try to find a current financial statement for TradeStation.
  6. U right, only for instituational acc

    It is now owned by Monex group, japan company

    At least not clearing thru Penson :)

  7. kathycl


    I have used them for several years but stopped now. They always gave me 1 tick more slippage than IB on stop loss orders.
    Also their platform could not keep up when there were big movement in the market.
    I don't know if they have improved it.

    Charts are great and so is the backtest opportunities.
  8. luisHK


    Any other feedback on the above points ? does that sound right ? Also is there any point to ask them to match IB's rates ?