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TradeStation vs TD Ameritrade 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is TradeStation better than TD Ameritrade? After testing 18 of the best online brokers, our analysis finds that TradeStation (82.0%) is better than TD Ameritrade (N/A). TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

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  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxPublic.com
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSoFi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

Compare

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Overall Rating TradeStation TD Ameritrade
Overall 4/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading Apps 4.5/5 Stars 5/5 Stars
Research 3/5 Stars 5/5 Stars
Customer Service 3.5/5 Stars 4.5/5 Stars
Education 3.5/5 Stars 5/5 Stars
Ease Of Use 3.5/5 Stars 5/5 Stars
Winner check_circle
Review TradeStation Review TD Ameritrade Review
Broker Screenshots TradeStation TD Ameritrade
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees TradeStation TD Ameritrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 $6.95
Mutual Fund Trade Fee $14.95 Varies
Options (Per Contract) $0.60 $0.65
Futures (Per Contract) $1.50 $2.25
Broker Assisted Trade Fee $25 $25
Margin Rates TradeStation TD Ameritrade
Margin Rate Under $25,000 13.5% 14.75% info
Margin Rate $25,000 to $49,999.99 13.5% 14.25%
Margin Rate $50,000 to $99,999.99 12.5% 13.25%
Margin Rate $100,000 to $249,999.99 12.5% 13%
Margin Rate $250,000 to $499,999.99 12.5% 12.75%
Margin Rate $500,000 to $999,999.99 8% info Varies info
Margin Rate Above $1,000,000 8% info Varies info
Account Fees TradeStation TD Ameritrade
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $0.00
Account Transfer Out (Partial) info $125.00 $0.00
Account Transfer Out (Full) info $125.00 $75.00
Options Exercise Fee $14.95 $0.00
Options Assignment Fee $5.95 $0.00
Investment Options TradeStation TD Ameritrade
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes Yes
Forex Trading info No Yes
Crypto Trading info Yes No
Crypto Trading - Total Coins info 11 0
Mutual Funds (No Load) info 800 3698
Mutual Funds (Total) info 4000 5876
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types TradeStation TD Ameritrade
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners TradeStation TD Ameritrade
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Education (Retirement) info No Yes
Retirement Calculator info No Yes
Investor Dictionary info No Yes
Paper Trading info Yes Yes
Videos info Yes Yes
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info No Yes
Interactive Learning - Quizzes info No Yes
Stock Trading Apps TradeStation TD Ameritrade
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features TradeStation TD Ameritrade
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No Yes
Videos on Demand info No Yes
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Watch Lists - Total Fields info 341 514
Stock App Charting TradeStation TD Ameritrade
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info No Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 45 400
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info No Yes
Trading Platforms TradeStation TD Ameritrade
Active Trading Platform info TradeStation 10 thinkorswim
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info No Yes
Web Trading Platform info Yes Yes
Paper Trading info Yes Yes
Trade Journal info No Yes
Watch Lists - Total Fields info 341 514
Stock Chart Features TradeStation TD Ameritrade
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 294 429
Charting - Drawing Tools info 23 24
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 12 9
Charting - Custom Studies info Yes Yes
Day Trading TradeStation TD Ameritrade
Streaming Time & Sales info Yes Yes
Streaming TV info No Yes
Direct Market Routing - Stocks info Yes Yes
Ladder Trading info Yes Yes
Trade Hot Keys info Yes Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes Yes
Short Locator info Yes No
Order Liquidity Rebates info Yes No
Research Overview TradeStation TD Ameritrade
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info No Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info No Yes
Screener - Stocks info Yes Yes
Screener - ETFs info No Yes
Screener - Mutual Funds info No Yes
Screener - Bonds info No Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research TradeStation TD Ameritrade
Stock Research - PDF Reports info 0 6
Stock Research - Earnings info No Yes
Stock Research - Insiders info No Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info No Yes
ETF Research TradeStation TD Ameritrade
ETFs - Strategy Overview info No Yes
ETF Fund Facts - Inception Date info No Yes
ETF Fund Facts - Expense Ratio info No Yes
ETF Fund Facts - Net Assets info No Yes
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No Yes
ETFs - Sector Exposure info No Yes
ETFs - Risk Analysis info No Yes
ETFs - Ratings info No Yes
ETFs - Morningstar StyleMap info No Yes
ETFs - PDF Reports info No Yes
Mutual Fund Research TradeStation TD Ameritrade
Mutual Funds - Strategy Overview info No Yes
Mutual Funds - Performance Chart info No Yes
Mutual Funds - Performance Analysis info No Yes
Mutual Funds - Prospectus info No Yes
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info No Yes
Mutual Funds - Top 10 Holdings info No Yes
Mutual Funds - Asset Allocation info No Yes
Mutual Funds - Sector Allocation info No Yes
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No Yes
Options Trading TradeStation TD Ameritrade
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 29 35
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info Yes Yes
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes Yes
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking TradeStation TD Ameritrade
Bank (Member FDIC) info No No
Checking Accounts info No Yes
Savings Accounts info No No
Credit Cards info No Yes
Debit Cards info No Yes
Mortgage Loans info No No
Customer Service TradeStation TD Ameritrade
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No Yes
Overall TradeStation TD Ameritrade
Overall 4/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading Apps 4.5/5 Stars 5/5 Stars
Research 3/5 Stars 5/5 Stars
Education 3.5/5 Stars 5/5 Stars
Ease Of Use 3.5/5 Stars 5/5 Stars
Winner check_circle
Review TradeStation Review TD Ameritrade Review
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TradeStation vs TD Ameritrade Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare TradeStation vs TD Ameritrade.

Is TradeStation or TD Ameritrade better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that TradeStation offers more comprehensive new investor education for beginning investors than TD Ameritrade. TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options), while TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about TradeStation vs TD Ameritrade pricing?

TradeStation and TD Ameritrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TD Ameritrade, costing $0.65 per contract versus $0.60 per contract at TradeStation. For futures, TD Ameritrade charges $2.25 per contract and TradeStation charges $1.50 per contract. For a deeper dive, see our best brokers for free stock trading guide.

Does TradeStation or TD Ameritrade offer a wider range of investment options?

Looking at a full range of investment options, including order types and international trading, our research has found that TradeStation offers a more comprehensive offering than TD Ameritrade. TradeStation ranks #5 out of 18 brokers for our Investment Options category, while TD Ameritrade ranks #N/A.

TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading, while TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services. Neither have Fractional Shares Looking at Mutual Funds, TradeStation trails TD Ameritrade in its offering of no transaction fee (NTF) mutual funds, with TD Ameritrade offering 3610 and TradeStation offering 0.

Do TradeStation and TD Ameritrade offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither TradeStation and TD Ameritrade offer crypto trading.

Which trading platform is better: TradeStation or TD Ameritrade?

To compare the day trading platforms of TradeStation and TD Ameritrade, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, TradeStation offers a better experience.

Does TradeStation or TD Ameritrade offer a better stock trading app?

After testing 25 features across the stock trading apps of TradeStation and TD Ameritrade, we found TradeStation to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. TradeStation ranks #8 out of 18 brokers, while TD Ameritrade ranks #N/A.

TradeStation Trading App Gallery

TD Ameritrade Trading App Gallery

Which broker is better for researching stocks?

For research, TradeStation offers superior market research than TD Ameritrade. TradeStation ranks #10 and TD Ameritrade ranks #N/A.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do TradeStation and TD Ameritrade compare in terms of minimum deposit required?

TradeStation requires a minimum deposit of $0.00, while TD Ameritrade requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

TradeStation charges 13.5% for accounts under $25,000 while TD Ameritrade charges a margin rate of 14.75%. The industry average of the 18 brokers we track is 9%.

Does TradeStation offer fractional shares? Does TD Ameritrade?

Fractional shares are not offered by either broker. Our research has found that 39% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with TradeStation or TD Ameritrade?

Both TradeStation and TD Ameritrade allow you to trade penny stocks. TradeStation charges $0.00 per trade while TD Ameritrade charges $6.95. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. neither of these are offered by TradeStation while TD Ameritrade offers Checking Accounts, Debit Cards and Credit Cards. Neither have Savings Accounts and Mortgage Loans.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

TradeStation was rated 7th out of 13 brokers, with an overall score of 7.98 out of 10.

TD Ameritrade was rated 1st out of 14 brokers, with an overall score of 9.3 out of 10.

Is TradeStation good?

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

In the 2024 StockBrokers.com Annual Awards, TradeStation placed among Best in Class for Day Trading, Futures Trading, Investment Options, and Penny Stock Trading.

Is TD Ameritrade good?

TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service, making it one of our top overall brokers in 2023. Note, however, that TD Ameritrade was acquired in 2020 by Charles Schwab and TD Ameritrade client accounts are currently being migrated in batches to Schwab, which has retained the standout thinkorswim platform.

In the 2023 StockBrokers.com Annual Review, TD Ameritrade was rated No. 1 for Platforms & Tools, Mobile Trading Apps, Ease of Use, Beginners, and Customer Service. It also ranked among Best in Class for Commissions & Fees, Research, Investment Options, Education, Active Trading and Overall. TD Ameritrade also won two StockBrokers.com Industry Awards: No. 1 for Phone Support and Trader App.

TradeStation vs TD Ameritrade Winner

Overall winner: TradeStation

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