TradeStation Global is a combined product of TradeStation and Interactive Brokers (IB) that is designed for clients residing outside the EU. The firm offers brokerage services. In its initial stages, the company was focused towards building a team of experienced, affluent and active traders. However, as the company has evolved with time, goals have shifted from building a team to expanding its reach by offering lower prices and including new services.
TradeStation Global simplifies the trading process by providing technical analysis and building a statistical model of the different trading strategies that are applicable. TradeStation itself has been moving towards focusing more on providing better educational platforms which can assist the learning process of novice traders. There are some drawbacks of opting for TradeStation Global as it doesn’t offer a wide range of channels to choose from when it comes to making money transactions and the industry approved MetaTrader 4 and MetaTrader 5 platforms are not compatible with TradeStation Global.
TRADESTATION GLOBAL OVERVIEW:
- Is regulated by top-tier regulatory bodies
- Multiple trading platforms
- All activities are transparent, thus ensuring higher credibility
- Excellent customer support staff
COMPANY PROFILETRADESTATION GLOBAL:
As mentioned above, TradeStation Global is a combination of IB and TradeStation. The firm is located in UK and the Financial Conduct Authority (FCA) are responsible for ensuring that the firm operates within legal limits and is in compliance with the trading laws. Since FCA itself is a top-tier regulatory body, we can safely conclude that TradeStation Global can be considered as secure.
The services of TradeStation Global are extended throughout the world with the exception of clients living in the EU and EEA. Since it’s a product of a collaboration between Interactive Brokers and TradeStation, it is natural that some of its features will be similar to those of IB and TradeStation. For instance, the account opening process, depositing and withdrawing of money and the products that are available are exactly similar to Interactive Brokers.
To facilitate its clients, the company allows clients to trade through the desktop platforms of either Interactive Brokers or TradeStation. However, the firm is completely responsible on its own for creating educational tools and providing customer support as well as charging fees from clients.
TRADESTATION GLOBAL REGULATIONS:
Based in the UK, the Financial Conduct Authority (FCA) monitors all regulatory functions of the firm. TradeStation Global has been registered under the number 445531, which was issued by the FCA itself and has an office in the UK. The Financial Industry Regulation Authority (FINRA) also intervenes in the regulations of the firm and keeps a check on how the firm is operating.
In order to enhance security for the clients, the Securities Investor Protection Corporation (SIPC) scheme is also involved which protects the client’s capital in instances where the broker fails to meet the obligations set by the client.
TRADESTATION GLOBAL TRADING PLATFORMS:
TradeStation Global offers three different platforms for its clients to choose from, each of which has several features that can prove to be very beneficial in the trading journey of the client.
1. DESKTOP PLATFORM:
TradeStation Global’s desktop platform has received tremendous ratings over the years and has gained popularity. It gives you the complete trading experience while ensuring smooth activity. The desktop trading platform consists of advanced tools that assist in designing, testing, optimizing and monitoring different trading strategies while allowing you to add a touch of uniqueness through its customization option.
This platform also makes use of some very dynamic tools that help in scanning and analyzing the market. This platform ensures fast and reliable execution of trading activities and is capable of handling advanced orders.
2. WEB TRADING PLATFORM:
This is one of the most convenient platforms for clients as it doesn’t not require proper installation of the software. The only thing necessary for using the web trading platform is an internet connection and you will be granted access to TradeStation Global. The ease of access does not undermine the credibility or the power of the platform, the web trading platform is one of the most powerful and easy to use platforms.
The platform is available in a variety of languages; however, the customizable features are not as great as those offered in the desktop platform. Clients using this platform can link their trading activity to TradeStation Global’s mobile apps through the cloud and continue their trading activity on the go.
3. MOBILE APPLICATIONS:
Last but not the least, TradeStation Global has developed its mobile applications to allow clients to continue with their trading activity regardless of where they are. The app has received one of the highest ratings in both, Play Store and Appstore.
The mobile allows clients to trade stocks and cryptocurrencies and also informs them about their position. The app has some of the core features built into its design which include Hot Lists, Quotes and Matrix. Through its analytical power, the app allows clients to comprehend the financial markets and generate in-depth analysis. Clients are allowed to browse through their trading options and spreads and monitor the market depth.
One additional feature of the mobile apps is that its issues notifications to its clients every time there is a change in the market. The app also allows for tracking of orders, positions and balances and the various charts and indicators available make the analyzing process more efficient.
TRADESTATION GLOBAL DEMO ACCOUNT
TradeStation Global does offer a demo account to help in training clients before they enter into the real trading world. This demo account allows them to practice trading in a risk-free environment. This demo account uses a trading simulator to incorporate as much reality in the experience as possible. This simulator allows clients to devise and test trading strategies without risking their capital.
With the demo account, clients are granted access to historical databases of the financial markets that can help traders in understanding trends and making informed decisions based on future predictions. Once the client feels comfortable with the ins and outs of trading, they can switch to a live account.
TradeStation Global – Open Trading Account
TRADESTATION GLOBAL DEPOSITS AND WITHDRAWALS:
Unlike its competitors, TradeStation Global only allows for deposits and withdrawals to be carried out through bank transfer. This is a major drawback for the firm, in addition to the withdrawal fee that is charged after the first withdrawal.
ACCOUNT CURRENCIES SUPPORTED BY TRADESTATION GLOBAL:
TradeStation Global supports a total of 22 base currencies.
TRADESTATION GLOBAL FEES AND COMISSION:
TradeStation Global has relatively low trading fees when it comes to ETFs and stocks, however if a client is planning to trade in mutual funds, the charges will be very high.
1. TRADING FEE:
TradeStation Global charges a very low amount of trading fee that differs across the different asset classes. If a client is trading US Stock, the firm charges a minimum of 0.007 per share and a minimum of $1.5 USD per order. If the client chooses EUR/USD currency pair, they will be charged a minimum of $2 per trade and the spreads will start from 0.6 pips. If trading is carried out in EUR, a minimum of 1.75 will be charged, for CHF the minimum charges are 2.25, 2.50 for USD and 1.5 for GBP. ETF also has a low trading fee.
The firm’s trading charges are not ideal for clients looking to trade mutual funds as the firm has higher prices than its competitors. For every trade activity, clients are expected to pay a trading fee of $25.
2. NON-TRADING FEE:
Similar to its trading fee, the firm charges a low non-trading fee. Opening an account or depositing money into your account does not require any fees. However, when it comes to withdrawals, the firm allows clients to make the first withdrawal free of cost but charges are included in future withdrawals once the client continues.
3. INACTIVITY FEE:
Falling in line with the firm’s low-cost policy, TradeStation Global charges a total of $50 for an entire year. This fee is waived off in instances where the account is meeting the requirements for minimum activity.
- Stable platform with very little downtime
- Charting and analytical tools are very comprehensive and customizable
- Extensive portfolio
- Low ETF and stock fees
- Excellent customer service
- Deposits and withdrawals are only limited to bank transfer
- Educational resources are limited and not sufficient
- Complicated process of opening an account
- Multiple pricing choices that aren’t easy to comprehend
- No international trading available.
CONCLUSION: SHOULD YOU TRADE WITH TRADESTATION GLOBAL?
If you’re an experienced and technical-minded trader, TradeStation Global is the ideal choice for you. The firm has made multiple efforts to build a platform that suits the needs of mainstream and new traders, however there hasn’t been much success.
As a firm, TradeStation Global, charges low stock and ETF fees and makes a wide variety of financial markets available for its clients. The firm’s excellent customer support staff is present to help in assisting in issues that might hinder trading activities. If we talk about the platforms that TradeStation Global has to offer, we can conclude that their desktop platform consists of some very comprehensive charting tools and indicators alongside the live watchlist that can be customized.
However, the firm does have its downsides too. Their transaction process is not ideal for a great user experience and clients can only deposit and withdraw funds through bank transfer. In addition to the difficulty of making transactions, the account opening process is also very tedious and complicated and requires a minimum deposit of US $1,000 which is a big amount.
TRADESTATION GLOBAL FREQUENTLY ASKED QUESTIONS:
1. How long does it take for an account to open?
During normal business days, an account takes a maximum of three days.
2. Is there a platform fee?
TradeStation Global does not charge any platform fee.
3. What is the minimum deposit required to activate an account?
Clients are required to make a deposit of at least US $1,000.
4. Does TradeStation Global have their own mobile app?
In order to make trading more convenient, TradeStation Global developed and launched its app that is available for both, iOS and android users.