TradeStation was established in the early 1980s and provides both casual and experienced traders with the tools they will need in order to be successful. It is a brokerage company as well as a platform developer that is operated by the MonexGroup. This company is based over in Japan and is overseen by the FSA (Financial Services Agency) but TradeStation itself has its headquarters in Florida, USA.
TradeStation has been designed to be an open-end platform which is customizable and developed depending on the requirements of a broker. It provides access to all the major financial markets across the world. It has been considered by many as a leader in terms of trading technology, with a robust desktop platform that is award-winning in the industry. There is also a web-based option. In 2016, TradeStation’s Forex accounts were moved over to OANDA but were still promised the top technology that they were used to as well as the continuation of a Forex broker that puts them first.
Many large brokers have adopted TradeStation thanks to its customizable open-ended platform that is built with EasyLanguage programming. Additionally, TradeStation brokers have exclusive mobile access with their trade accounts.
TradeStation Forex Brokers List
MAS, JFSA, DIFC
Advantages of Tradestation
As mentioned, the desktop Tradestation platform is excellent for active trading. The web version complements this well and is easy to use. The mobile TradeStation platform is also full of features. The tools are considered to be very professional by traders and include indicators, different charting options as well as data that goes back for over 48 years.
Disadvantages of Tradestation
There have been a few problems for traders in the past due to frequent crashes as well as trade orders being incorrect. There may also be the appearance of ghost orders on accounts. The CFTC (The Commodity Futures Trading Commission) has recently fined TradeStation for the errors across their platforms. Thankfully, this has had the effect that the company is working towards fixing its glitches. TradeStation also doesn’t come cheap as the fees can be higher than some Forex broker platforms.
TradeStation’s high level of tech is what attracts the Forex traders. It is easy to use as well as providing lots of market tools that are both professional and well-functioning. They do charge fees that are higher than some brokerages but essentially this is considered rather like a business expense by some traders.