Tradestation review
Tradestation is coming along as one of the better financial service providers. It was founded in 1982, but only started becoming the trading service we know today in 2006. It started evolving into its current form after it was acquired by the giant conglomerate Monex Group in 2011.
Today, it’s a well-respected investment platform that offers straight-forward stock and crypto trading services with layers of complexity built into the back end. It’s a clever business strategy that caters to both new investors and avid traders alike.
If you’re interested in opening an account with Tradestation, then here are a few things you should know.
What is back end complexity?
As mentioned in the introduction and something we should clarify, is Tradestation’s back end complexity. Take the seemingly simple services like buying and selling of bonds and other fixed income assets.
The company explains bonds in a very simple and easy-to-understand way and offers a fairly simple platform to allow you to buy them. If that’s all you wanted to do, then great. But you may want a more nuanced analysis and the ability to research the bonds you’re potentially buying.
If you use their various advanced research tools, you’ll see a level of research, analysis, and AI-powered insights that allows you to holistically see your profile from a bird’s eye view, incorporating your other investments into the mix in order to create a complete picture of your portfolio. This allows you to understand the diversity of your investments and create a balanced investment strategy.
Things get a little further complicated when you look at their more dynamic trading services. You can use customizable charts, market scanning tools, and automate your trading so that you never lose out even if you are away from your phone or computer.
Additionally, they have advanced order management along with fast and reliable trade execution. Again, on the surface Tradestation may look like a simple way to buy stocks or invest, but underneath that simplicity is a world of complexity that can be used to further and improve your investment portfolio.
Getting started with Tradestation
If Tradestation sounds like an investment platform suitable for you, I would recommend checking for any current promotions or sign-up bonuses and not opening an account directly. Many stock trading platforms offer a nice bonus to encourage you to try out their services.
Like their competitors, Tradestation offers great sign-up bonuses, so check what’s available before you begin the application process. However, be sure you’re eligible for the offer and pay attention to the promotion’s terms and conditions. Most users who didn’t receive their welcome bonus offer can be attributable to not completing the promotion requirements.
If you’re not interested in just stocks, the good news is that Tradestation has moved into cryptocurrency recently. This is now reflected in their sign-up bonuses as a number of them offer free cryptocurrency.
Who is Tradestation for?
Tradestation is best for advanced traders, who like to use market and technical analysis to inform them of their buying and selling decisions. This is obvious from the number of tools, features, and analytic options that the platform offers.
But don’t make the mistake of thinking that this excludes newer or long-term traders. For newer investors, their website and mobile app is very beginner-friendly, with an intuitive design that helps a newbie catch on quickly. For long-term traders, the minimal fees and free services make it an ideal place to buy-and-hold.
As mentioned earlier in the review, the system starts with simplicity, and if you don’t want to do hours of research with their tools, then you don’t have to. The old idea that newer traders or less technical traders should find less sophisticated platforms is plain silly. Tradestation offers their users to start simple and stay simple, or delve into deep analysis as much as you’d like.
Are there any downsides?
Some online articles claim that Tradestation has a steep learning curve and that it’s too sophisticated for some traders, but those articles are just looking for ways to fill up article word counts.
The fact is that they’re suitable for everybody, whether you want investing to be simple or complex. The only downside is that its customer support may take a while when you need help, but that’s being nitpicky.
Tradestation offers a good range of offerings, the app is smooth, and trading works well. And because they offer some really nice bonuses for new customers, it’s hard not to give them a try.
