TradeStation Broker Interest Rate?

Discussion in 'Retail Brokers' started by Sanjuro, Dec 14, 2005.

  1. Sanjuro


    Anyone that has an account with TradeStation. What is the Interest Rate they pay on your equity in account?

  2. Toonces


    I'm getting 1.125%. I wonder if I have my money set up in the wrong type of fund?
  3. Surdo


    They do not pay ANYTHING on the first 10K!

    If you are not using the Cash, you can flip it in to a money market mutual fund. If you need the cash for BP, you are stuck with the 1.125% rip off rate.

    FDRXX Yields 3.83%!
  4. Sanjuro


    I just found it on this page also. 1.125% interest.

    I get 3.75% on my 100k at IB.

    The difference is:

    90k * .02625 = 2362.5 year
    Almost 200 a month.

    Minus well use that 200 extra interest just to pay for a subscription. The main advantage I can see is for the automated trading using TS.

    And IB still has lower commissions.

    I really want to try TS to backtest and implement some of my strategies but I'm reluctant.
  5. ww_nyc


    Just realized that TradeStation does not pay interest for futures account. I only have a futures account with them.

    So basically TS can take the interest earned by clients money for themselves? That does not sound reasonable. Are they allowed to do that? Is there any regulation that governs this?
  6. It's a scam. Since no one complains, they get away with it.

    Let 5000 accounts threaten to cancel for TS stealing thier money, and we'll see what happens.
  7. Surdo


    Nobody stops you from buying a 4.33% T Bill as a Performance Bond in your future's account.
  8. ib has the best interest rate around for excess funds. mbtradings 3.25%
  9. ww_nyc


    But at TS, futures account, equity account and Forex account are seperate accounts, not like IB as combined account. I don't know if one can buy T Bill in a TS futures account.

    Anyone has experience with doing this at TS?
  10. Surdo


    Call the trading desk and tell them you want a 3 or 6 month.
    #10     Dec 14, 2005