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TradeStation vs Cobra Trading 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is TradeStation better than Cobra Trading? After scoring brokers in nine separate categories for our 2019 review, TradeStation (71.75%) is better than Cobra Trading (49.66%). TradeStation is a discount brokerage offering low-cost stock, ETF, options, and futures trades through two excellent trading platforms. While research is limited, TradeStation does offer free streaming real-time data and charges no monthly platform fee for its base flat-fee trading accounts.

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Overall Rating

Feature TradeStation Cobra Trading
Overall 3.5 2.5
TradeStation Review Cobra Trading Review

Trading Fees

Feature TradeStation Cobra Trading
Minimum Deposit $500.00 $30,000.00
Stock Trade Fee (per trade) $5.00 N/A
ETF Trade Fee $5.00 N/A
Options Base Fee $5.00 N/A
Options Per Contract Fee $0.50 $0.50
Mutual Fund Trade Fee $14.95 $25.00
Broker Assisted Trades Fee $50.00 $0.00
Commissions & Fees 3.5 3
Winner check_circle

Margin Rates

Feature TradeStation
Open Account
Cobra Trading
Open Account
Under $24,999.99 9.25% 5.25%
$25,000.00 to $49,999.99 9.25% 5.25%
$50,000.00 to $99,999.99 8.50% 5.25%
$100,000.00 to $249,999.99 8.50% 5.25%
$250,000.00 to $499,999.99 8.50% 5.25%
$500,000.00 to $999,999.99 5.25% 5.25%
Above $1,000,000.00 5.25% 5.25%
Commissions & Fees 3.5 3
Winner check_circle

Account Fees

Feature TradeStation Cobra Trading
IRA Annual Fee $35.00 $35.00
IRA Closure Fee $50.00 $95.00
Returned ACH Fee $25.00 $25.00
Returned Wire Fee $25.00 $25.00
Stock Certificate Processing Fee $150.00 N/A
Stock Certificate Delivery Fee $15.00 N/A
Paper Statement Fee $1.00 $2.00
Paper Confirmation Fee $1.00 $3.00
Domestic Wire Fee $25.00 $20.00
International Wire Fee $35.00 $50.00
Commissions & Fees 3.5 3

Investment Options

Feature TradeStation Cobra Trading
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes Yes
Forex Trading
No Yes
Commission-Free ETFs 0 0
Mutual Funds (No Load)
887 0
Mutual Funds (Total)
4357 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
No No
Offering of Investments 4 3
Winner check_circle

Order Types

Feature TradeStation Cobra Trading
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4 3
Winner check_circle

Trading Platforms

Feature TradeStation Cobra Trading
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
335 30
Two-Factor Authentication Login
Yes No
Heat Mapping
No No
Platforms & Tools 4.5 3
Winner check_circle

Charting Features

Feature TradeStation Cobra Trading
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
282 36
Charting - Drawing Tools
23 9
Charting - Historical Trades
Yes No
Charting - Corporate Events
No No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
12 8
Charting - Custom Studies
Yes No
Platforms & Tools 4.5 3
Winner check_circle

Day Trading

Feature TradeStation Cobra Trading
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
Yes Yes
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
Yes Yes
Client Liquidity Rebates
Yes Yes
Winner check_circle

Mobile Trading Apps

Feature TradeStation Cobra Trading
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Winner check_circle

Mobile App Features

Feature TradeStation Cobra Trading
Watch List Syncing
Yes No
Stock Alerts - Basic Fields
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
Yes No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4.5 3
Winner check_circle

Research Overview

Feature TradeStation Cobra Trading
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
No No
Screener - Stocks
Yes No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
No No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
No No
Research 1.5 1
Winner check_circle

Stock Research

Feature TradeStation Cobra Trading
Stock Research - Reports
0 0
Stock Research - Earnings
No No
Stock Research - Insiders
No No
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No No
Stock Research - Social
No No
Stock Research - Balance Sheet
No No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1.5 1
Winner check_circle

ETF Research

Feature TradeStation Cobra Trading
ETFs - Strategy Overview
No No
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
No No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 1.5 1
Winner check_circle

Mutual Fund Research

Feature TradeStation Cobra Trading
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 1.5 1
Winner check_circle

Options Trading

Feature TradeStation Cobra Trading
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
32 17
Option Chains - Greeks
5 0
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 4.5 3
Winner check_circle

Beginners

Feature TradeStation Cobra Trading
Has Education - Stocks
Yes No
Has Education - ETFs
No No
Has Education - Options
Yes No
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
30 0
Webinars (Archived)
Yes No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 3 0.5
Winner check_circle

Banking

Feature TradeStation Cobra Trading
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5
Winner check_circle

Overall

Feature TradeStation Cobra Trading
TradeStation Review Cobra Trading Review
Overall 3.5 2.5
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Cobra Trading vs TradeStation to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. TradeStation, with its regular stock trades costing $5, is more expensive than Cobra Trading's rate of $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $5 (TradeStation) and $N/A (Cobra Trading). Option contracts at both of the brokerages are the same at $0.50 each. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. TradeStation provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Cobra Trading provides clients access to Stock Trading, Options Trading, Forex Trading and Futures Trading. As far as mutual funds go, TradeStation boasts an offering of 4357 mutual funds compared to Cobra Trading's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Cobra Trading alongside TradeStation offer virtual trading. For mobile trading, Cobra Trading offer clients access to an iPhone App and Android App while TradeStation has an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Banking is not popular with Cobra Trading and TradeStation as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall, between Cobra Trading and TradeStation, TradeStation is the winner.

Cobra Trading Review
TradeStation Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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