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TD Ameritrade vs TradeStation 2021

Is TD Ameritrade better than TradeStation? After testing 11 of the best online brokers over three months, TD Ameritrade (100%) is better than TradeStation (76.56%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service. This outstanding all-around experience makes TD Ameritrade our top overall broker in 2021.


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Overall Rating

Feature TD Ameritrade TradeStation
Overall 5 4
Commissions & Fees 4.5 4.5
Offering of Investments 5 4.5
Platforms & Tools 5 5
Mobile Trading 5 4
Research 5 2
Education 5 3
Ease of Use 5 4.5
TD Ameritrade Review TradeStation Review
Winner check_circle

Trading Fees

Feature TD Ameritrade TradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $49.99 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.50
Futures (Per Contract) $2.25 $1.50
Broker Assisted Trades Fee $44.99 $50.00

Margin Rates

Feature TD Ameritrade TradeStation
Under $24,999.99 9.50% 9.50%
$25,000.00 to $49,999.99 9.00% 9.50%
$50,000.00 to $99,999.99 8.00% 8.75%
$100,000.00 to $249,999.99 7.75% 8.75%
$250,000.00 to $499,999.99 7.50% 8.75%
$500,000.00 to $999,999.99 N/A 5.50%
Above $1,000,000.00 N/A 5.50%

Account Fees

Feature TD Ameritrade TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $50.00
Account Transfer Out (Partial) $0.00 $125.00
Account Transfer Out (Full) $75.00 $125.00
Returned ACH Fee $25.00 $25.00
Returned Wire Fee $25.00 $25.00
Stock Certificate Processing Fee $0.00 $150.00
Stock Certificate Delivery Fee $500.00 $15.00
Paper Statement Fee $0.00 $1.00
Paper Confirmation Fee $0.00 $1.00
Domestic Wire Fee $25.00 $25.00
International Wire Fee $25.00 $35.00

Investment Options

Feature TD Ameritrade TradeStation
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes Yes
Forex Trading
Yes No
Crypto Trading No Yes
Mutual Funds (No Load)
8097 887
Mutual Funds (Total)
12330 4357
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes No
International Trading
Yes No
AI Assistant Bot
Yes No

Order Types

Feature TD Ameritrade TradeStation
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 Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes Yes

Trading Platforms

Feature TD Ameritrade TradeStation
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
Yes No
Heat Mapping
Yes No
Watch Lists - Total Fields
514 335

Charting Features

Feature TD Ameritrade TradeStation
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
489 290
Charting - Drawing Tools
22 23
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Trade Ideas - Technical Analysis
Yes Yes
Charting - Study Customizations
9 12
Charting - Custom Studies
Yes Yes

Day Trading

Feature TD Ameritrade TradeStation
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes 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 Yes
Short Locator
No Yes
Order Liquidity Rebates
No Yes

Mobile Trading Apps

Feature TD Ameritrade TradeStation
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes Yes
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
Yes No
Touch / Face ID
Yes Yes
Mobile Trading 5 4

Mobile App Features

Feature TD Ameritrade TradeStation
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes Yes
Charting - Study Customizations
Yes Yes
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
Yes No
Mobile Trading 5 4

Research Overview

Feature TD Ameritrade TradeStation
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes Yes
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No

Stock Research

Feature TD Ameritrade TradeStation
Stock Research - Reports
7 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature TD Ameritrade TradeStation
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No

Mutual Fund Research

Feature TD Ameritrade TradeStation
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No

Options Trading

Feature TD Ameritrade TradeStation
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
35 32
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes

Beginners

Feature TD Ameritrade TradeStation
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
Yes Yes
Videos
Yes Yes
Webinars (Monthly Avg)
500 10
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No

Banking

Feature TD Ameritrade TradeStation
Retail Locations
261 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
Yes No

Overall

Feature TD Ameritrade TradeStation
Overall 5 4
Commissions & Fees 4.5 4.5
Offering of Investments 5 4.5
Platforms & Tools 5 5
Mobile Trading 5 4
Research 5 2
Education 5 3
Ease of Use 5 4.5
TD Ameritrade Review TradeStation Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare TD Ameritrade vs TradeStation.

Is TD Ameritrade or TradeStation better for beginners?
TD Ameritrade is better for beginner investors than TradeStation. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about TD Ameritrade vs TradeStation pricing?
TD Ameritrade and TradeStation have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at TD Ameritrade, costing $0.65 versus $0.50 at TradeStation. For a complete commissions summary, see our best discount brokers guide.

Does TD Ameritrade or TradeStation offer a wider range of investment options?
TD Ameritrade offers a more diverse selection of investment options than TradeStation. TD Ameritrade offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Forex Trading, Advisor Services and International Trading. Looking at Mutual Funds, TD Ameritrade offers its clients access to 12330 different mutual funds while TradeStation has 4357 available funds, a difference of 7,973.

Which trading platform is better: TD Ameritrade or TradeStation?
To compare the trading platforms of both TD Ameritrade and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found TD Ameritrade to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Checking Accounts, Debit Cards and Credit Cards at TD Ameritrade while customers at TradeStation can have none of these.

Overall winner: TD Ameritrade

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All pricing data was obtained from a published web site as of 01/19/2021 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.

TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

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