Tradestation credit interest rate

Discussion in 'Retail Brokers' started by detective, May 18, 2006.

  1. Tradestation credit interest rate on balances over $10,000 is 1.125%!

    That's highway robbery!! To compare, IB pays 4.55% (LIBOR-0.50%) over $10,000.

    On a balance of $100,000, thats $3,082 LESS interest that you get paid by Tradestation than IB. So for daytraders, who end the day flat, that $3,082 that you are losing per year for every $100,000 that you have.

    On top of that, Tradestation charges $99.95/month for its software, a lot of other brokers don't. Plus higher commissions than most other active trading retail firms.

    Can anyone tell me the benefit to being with Tradestation over other brokers?
     
  2. Same reason Starbucks is so successful, folks like to overpay if they think they are getting something 'special'
     
  3. you got to be nuts to go with tradestaion over ib. i have accounts with both. i opened a 5k futures account with tradestaion just to get there graphs and quotes for $24 a month(exhange fee's only) by doing 10 futures trades a month. as far as a broker i like ib much better and ib's stock rates kill tradestaion. i'm amazed tradestaion are anyone else can still charge 1 cent a share for the first 500 shares. that's over twice as expensive as ib. i'd never leave much money with a b roker that pays below 3.5% today. thats damm robbery. think about a day trader trading 200k shares a month with 100k account. ins tead of 1 cent a share he's really paying 2 cent with ts after you take out the interest he's not getting
     
  4. mktman

    mktman

    stock:

    Are you an equities player or just futures?
    If equities what kind of software broker setup are you using?

    thx.
     
  5. mktman

    mktman

    detective:

    You have a link to that rate info on IB website? Cant find t.

    thx
     
  6. def

    def Sponsor

  7. it would be nice to see TS offer real interest. i was reading recently on their forum about the difficulties and inconsistencies involved in having tbills purchased for a TS account, and am considering a bulk reallocation out of TS to keep that money working without any fuss.
     
  8. mktman

    mktman

    To where?
    Im considering the same
     
  9. IB to scale up on eq trading, or maybe a cash mm account like Emigrant or ING. I haven't used Treasury direct, but considering it. There are probably vastly better solutions, but admittedly I've always neglected the cash side of things until recently
     
  10. #10     May 19, 2006