Stocks 1.2 cent per share (includes all ECN fees). E-Mini futures $3.99 per side. TradeStation 6 just $99.95 per month and waived for very active traders. I just got this info from www.tradestation.com Looks like IB has some serious competition.
Here's the full url: http://www.tradestation.com./fees/default.shtm And, frankly, this looks downright awesome. I suspect we will see a rippling effect from this that spreads throughout the industry.
Does anyone have experience with TradeStations's customer service in times of system/network problems and you need to liquidate your positions as fast as possible? Do they actually have competent brokers answering the phones or are they as bad as Interactive Brokers in this regard?
Not to rain on anyone's parade, but Tradestation's stock TRAD s hovering just over $1, and thus far they have not been able to reduce their cash burn rate or turn a profit as a brokerage. If I recall correctly, they are a clearing member so if they go belly up customer funds might be in jeopardy. Do your own due dilligence. Might not be an issue for stock traders with SIPC but futures traders have to worry about such things. http://quote.bloomberg.com/analytics/bquote.cgi?version=markets99.cfg&view=extmult&ticker=trad That being said it looks like the Cruz brothers have finally realized that brokerage is a commodity business if they want to get new accounts. This looks like the best deal TRAD has offered to date.
Check out http://www.tradestation.com/brokerageservices/default.shtm In particular, "TradeStation Securities clears all its custody and clearing issues associated with equity brokerage transactions through Bear, Stearns Securities Corp." So if TradeStation goes under, your equity positions will be untouched by TradeStation. You won't lose your equity, but there probably will be some time delay before you have access to them again. Non-equity securities of course are a different story since there's no SIPC insurance. The same page says "Custody of your futures funds are held by Refco, LLC, a diversified financial services organization" So I'd be more worried if Refco goes under, rather than TradeStation. -- ITZ
just wondering.. if tradestation is in good shape. Don't know if their new strategy is working well for them...
I think it is simply the best commission structure anyone can have. From beginners who only trade a few 100 shares at a time, the cost is futile and for pros it is simply unbeatable. In both cases the break even is the best in the industry. Execution is also amazing. p.s. I trade for myself and have no affiliation to PointDirex
Excuse me Mr.-activetrader-one-post-Tradestation-maggot, Since when did offering 1.2 cents per share to IB's 1 cent per share mean serious competition? That 0.2 cent differential would be a huge difference in profitablility. Surely you would know, as that you are an "activetraderfor". Obviously Tradestation has lowered themselves to this guerrilla marketing.