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TD Ameritrade vs TradeStation 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is TD Ameritrade better than TradeStation? After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than TradeStation (78.24%). 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 one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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Overall RatingTD AmeritradeTradeStation
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4.5/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review TD Ameritrade Review TradeStation Review
Trading FeesTD AmeritradeTradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $6.95 $0.00
Mutual Fund Trade Fee Varies $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.60
Futures (Per Contract) $2.25 $1.50
Broker Assisted Trade Fee $25 $0
Margin RatesTD AmeritradeTradeStation
Margin Rate Under $25,000 12.50% 11.00%
Margin Rate $25,000 to $49,999.99 12.00% 11.00%
Margin Rate $50,000 to $99,999.99 11.00% 10.00%
Margin Rate $100,000 to $249,999.99 10.75% 10.00%
Margin Rate $250,000 to $499,999.99 10.50% 10.00%
Margin Rate $500,000 to $999,999.99 Varies 5.50%
Margin Rate Above $1,000,000 Varies 5.50%
Account FeesTD AmeritradeTradeStation
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
Options Exercise Fee $0.00 $14.95
Options Assignment Fee $0.00 $5.95
Investment OptionsTD AmeritradeTradeStation
Stock Trading Yes Yes
Margin 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
Crypto Trading - Total Coins 0 11
Mutual Funds (No Load) 3698 800
Mutual Funds (Total) 5876 4000
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesTD AmeritradeTradeStation
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersTD AmeritradeTradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes No
Paper Trading Yes Yes
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes No
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsTD AmeritradeTradeStation
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App FeaturesTD AmeritradeTradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 514 335
Stock App ChartingTD AmeritradeTradeStation
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 400 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading PlatformsTD AmeritradeTradeStation
Active Trading Platform thinkorswim TradeStation 10
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes Yes
Trade Journal Yes No
Watch Lists - Total Fields 514 335
Stock Chart FeaturesTD AmeritradeTradeStation
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 429 290
Charting - Drawing Tools 24 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 9 12
Charting - Custom Studies Yes Yes
Day TradingTD AmeritradeTradeStation
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes Yes
Ladder Trading Yes Yes
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv Yes Yes
Short Locator No Yes
Order Liquidity Rebates No Yes
Research OverviewTD AmeritradeTradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchTD AmeritradeTradeStation
Stock Research - PDF Reports 6 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchTD AmeritradeTradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings No No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchTD AmeritradeTradeStation
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings 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
Options TradingTD AmeritradeTradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
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 - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingTD AmeritradeTradeStation
Bank (Member FDIC) No No
Checking Accounts Yes No
Savings Accounts No No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans No No
Customer ServiceTD AmeritradeTradeStation
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallTD AmeritradeTradeStation
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review TD Ameritrade Review TradeStation Review
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TD Ameritrade vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare TD Ameritrade vs TradeStation.

Is TD Ameritrade or TradeStation better for beginners?

TD Ameritrade offers more comprehensive new investor education for beginner investors than TradeStation. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about TD Ameritrade vs TradeStation pricing?

TD Ameritrade and TradeStation 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 a complete commissions summary, see our best brokers for free stock trading guide.

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

TD Ameritrade offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, 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.

Which trading platform is better: TD Ameritrade or TradeStation?

To compare the trading platforms of 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. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while TradeStation offers neither of these, neither have Savings Accounts and Mortgage Loans.

Is TD Ameritrade good?

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 one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.

TD Ameritrade vs TradeStation Winner

Overall winner: TD Ameritrade

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