Profile of TradeStation Securities
TradeStation Securities (known as TradeStation) is a popular day trading brokerage. TradeStation is based in the US and the UK, and they will accept traders from other countries. TradeStation is a direct access brokerage, and offers access to exchanges in the US, and to some exchanges in Europe, but not the rest of the world. TradeStation allows trading of their markets via a single interface also known as TradeStation. TradeStation is an Internet oriented brokerage, and many account management tasks can be done via their trading software or their web site.
Opening an Account
A US account with TradeStation can be opened completely via their web site, but a European account can only be opened via the telephone. The minimum initial equity deposit needs to be at least $5000, and can only be processed via a wire transfer, a US dollar check, or a transfer from another brokerage. Once an account is opened, there is a delay for the initial deposit to clear, but afterwards trading should be able to commence.
TradeStation claims to have some of the lowest commissions, and this appears to be true (especially when compared with traditional brokerages). TradeStation's market data fees are comparable to other day trading brokerages, except that there is an additional market data fee for European markets. TradeStation's standard platform fee is $99.95 per month, but this is waived for accounts that make at least ten futures trades per month.
TradeStation provides trading software called TradeStation. TradeStation is full featured trading software, but will only run on recent Windows systems. TradeStation provides an API (application programming interface), and supports both custom indicators, and other programs (such as charting or order entry software). The API uses a proprietary programming language called Easy Language, but Easy Language supports external DLLs (Dynamic Link Libraries), so it can be interfaced with standard programming languages, such as C/C++.