Here is the official information --------------------------------------------------------------------------- http://biz.yahoo.com/prnews/050720/flw002.html?.v=19 Client Account Assets Average assets per account (Equities) $87,100 Average assets per account (Futures) $19,300 As was the case with DARTs, TradeStation's other account metrics were far superior to those of its larger online brokerage firm competitors. TradeStation's annualized trades per account and annualized revenue per account were both many times higher than those produced by Ameritrade and E*Trade. While the average TradeStation account traded over 500 times per year, or over 42 times per month, the average Ameritrade account traded about 9.5 times per year, or .79 times per month, and the average E*Trade account traded about 6.7 times per year, or .56 times per month. TradeStation's average assets per equities account of $87,100 was three to four times higher than the average assets per account of Ameritrade (approximately $21,000) and E*Trade (approximately $28,000)(1). TradeStation To Eliminate Monthly Platform Fees For Very Active Traders To further increase its appeal to very active traders, starting September 1st TradeStation will be significantly lowering the trade activity thresholds it uses to waive its $99.95 monthly platform fee. Currently, TradeStation charges the platform fee each month to brokerage customers unless the customer trades that month at least 250,000 shares, 2,500 equity option contracts, 500 futures round-turns, or 500 forex round-turn lots. Beginning September 1st, the platform fee will be waived for any month the customer trades at least 25,000 shares, 100 equity option contracts, 50 futures round- turns, or 25 forex round-turn lots. The effect of this initiative is estimated to be a $185,000 per month reduction to the company's net income (assuming no offsetting benefits), and its anticipated effects have been incorporated in the company's Business Outlook estimates announced today. "This strategic initiative is based on our belief that there is a sizeable, highly-valuable group of very active traders who would be trading with us except only for their hesitancy to commit to $100 a month in platform fees," said Bill Cruz, Co-Chairman and Co-CEO of TradeStation Group. "We think that substantially lowering the thresholds at which these fees are waived will open the door to increased account growth within this highly- valuable group."
They need to go free across the board for clients. The same with Cyber Pro. IB has a much better model.
Does not appear to be on the web site yet. Here is the e-mail: July 20, 2005 Dear Valued Client: Great news. As always, we value your business and, as a result, are very pleased to announce that, effective September 1, 2005, we have reduced by over 90% the thresholds at which your monthly platform fees for TradeStation and RadarScreen will be waived. Effective September 1, 2005, accounts meeting any of the following criteria in the preceding month will not be charged a monthly base platform fee for TradeStation or RadarScreen (if applicable) in the current month: § Equity, options, futures or forex accounts with a balance of $1 million or more on the last day of the previous calendar month § Equity accounts executing 25,000 (reduced from 250,000) or more shares in the previous calendar month; or § Options accounts executing 100 (reduced from 2,500) or more contracts in the previous calendar month; or § Futures accounts executing 50 (reduced from 500) or more round-turn E-Mini Futures contracts, or 100 or more round-turn Security Futures contracts, in the previous calendar month; or § Forex accounts executing 25 (reduced from 500) or more round-turn lots in the previous calendar month Please note that, for your convenience, these savings will be automatically applied to your platform billing, beginning with your September statement. There is no need for you to do anything to enjoy this savings. If you have any questions or comments regarding this change, please contact Brokerage Client Services at (800) 871-3577. Sincerely yours, Joseph Nikolson, President and COO TradeStation Securities, Inc. Member NASD, NYSE, SIPC & NFA
For you maybe, but to me TS is a much better deal. I won't say they are the greatest or that hype, but so far customer service has been much quicker for me at TS than it ever was at IB, and I haven't had a phone conversation with anyone who had an attitude, but no answer like I had with IB. I have a couple friends who do the new min share requirement swing trading, but never had real time charts because they didn't want to pay up. There response to the email I forwarded to them was they are going to move a protion of their money and at least give it a try now. They may not stick with it, but I think its the effect TS is looking for.
Speaking of commissions, supposing one pays IB bundled, TS is usually slightly more expensive for US futures, with a notable exception of NYMEX e-miNYs. EUREX is a lot more expensive with TS, making it really too expensive for active traders.
Technically you can via the RCG paltform and it is expensive, and I would imagine at some point TS will have them through their platform, but I haven't been trading Eurex so no impact on me.
Trademaven, J-trader, open e cry, gensis laser,...more can can be linked to Tradestation 8 directly or through APIs like Tradebolt,....for Eurox trading (feed by owndata2), if you are not scalper. p.s I have never used owndata 2