tradestation-global-review

TradeStation Global Review 2023

  • 9.6

TradeStation Global review summary

If you’re from outside the EU/US and looking for a safe broker with an outstanding product selection and low stock/ETF fees, TradeStation Global is well worth a look. TradeStation Global is a joint product of TradeStation International and Interactive Brokers (IBKR), two great brokers, sharing IBKR’s exceptional product range but offering its own fee structure and web/desktop platforms. Opening an account requires some patience, but no minimum deposit is required in most scenarios, and once you’re inside you can enjoy an easy-to-use web trading platform and unrivaled market coverage across all asset types.

There’s no need to worry about safety when trading with TradeStation Global, as your cash and assets will be held by IBKR, one of the world’s biggest and oldest online brokerages. Both TradeStation International and IBKR are overseen by top-notch regulators including the UK’s FCA.

TradeStation Global pros and cons

ProsCons
Low stock and ETF fees Only bank transfer allowed for deposit and withdrawal
Wide range of products Complicated account opening
Fast customer service Limited education materials

Interactive Brokers main highlights​

🗺️ Country of regulationUK
💰 Trading fees classLow
💰 Inactivity fee chargedNo
💰 Withdrawal fee amount$0
💰 Minimum deposit$0
🕖 Time to open an account1 days
💳 Deposit with bank cardNot available
👛 Depositing with electronic walletNot available
💱 Number of base currencies supported23
🎮 Demo account providedYes
🛍️ Products offeredStock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants

To read much more details about the broker’s services and features, expand on the sections below.

Our overall Interactive Brokers rating
  • 9.6

  • Fees
    8.2
  • Account opening
    8
  • Deposit and withdrawal
    7
  • WEB Trading platform
    7.6
  • Mobile trading platform
    7
  • Desktop trading platform
    6.6
  • Markets and products
    10
  • Research
    8.6
  • Customer service
    9
  • Education
    5
TradeStation Global review

Fees

TradeStation Global has low trading fees, especially for stocks and ETFs. There’s no inactivity fee and the first withdrawal each month is free. However, mutual fund fees are high.

ProsCons
Low trading fees High fund fees
Low None-trading fees 
  
TradeStation Global fees snapshot
AssetsFee levelFee terms
US stockLow$0.01 per share, min. $1.5
EURUSDLow0.6 bps*trade value; min $2 per trade
Mutual fundhigh$25 per trade
Inactivity feeLowNo inactivity fee

How we ranked fees

We ranked TradeStation Global’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of TradeStation Global for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared TradeStation Global’s fees with those of two similar brokers we selected, Saxo Bank and Swissquote. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of TradeStation Global alternatives.

To have a clear overview of TradeStation Global, let’s start with the trading fees.

TradeStation Global trading fees

TradeStation Global trading fees are low.

Stock fees and ETF fees

TradeStation Global has generally low stock and ETF commissions.

The stock trading fee at Interactive Brokers is volume-based: it’s calculated either per share or as a percentage of the trade value, with a minimum and maximum. ETF fees are the same as stock fees.

It’s also great that Interactive Brokers provides fractional shares trading for US and European stocks and ETFs.

TradeStation Global stock and ETF commission of a $2,000 trade
TradeStation Global Saxo Bank Swissquote
US stock $1.5 $10.0 $25.0
UK stock $2.0 $9.0 $28.3
German stock $2.4 $9.9 $29.7

TradeStation Global charges fees mostly as a percentage of the traded volume. For US and Canadian stocks, however, the commission is based on the number of shares traded.

TradeStation Global stock fees
MarketCommissionMinimum
North America  
US0.15 basis point of the trade value$1.50
Canada0.10 basis point of the trade value$1.25
Europe  
UK0.12% of the trade value£1.8
Belgium, France, Germany, Italy, Netherlands, Portugal0.12% of the trade value£1.8
Switzerland0.12% of the trade valueCHF 2.25
Austria0.12% of the trade value€6
Norway, Sweden0.075% of the trade valueNOK/SEK 15
Asia-Pacific  
Australia0.12% of the trade valueAUD 7.5
Hong Kong0.12% of the trade valueHKD 20
Japan0.75% of the trade valueJPY 120
Singapore0.12% of the trade valueSGD 3.75
India0.18% of the trade valueNo minimum

If you prefer stock trading on a margin, you should check TradeStation Global’s margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

TradeStation Global margin rates are high.

TradeStation Global annual margin rates
 TradeStation GlobalSaxo BankSwissquote
USD margin rate8.3%7.3%
GBP margin rate7.5%6.4%
EUR margin rate5.8%4.9%

Forex fees

TradeStation Global forex fees are low.

To get a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

TradeStation Global forex benchmark fee of a $20,000 30:1 long position held for one week
 TradeStation GlobalSaxo BankSwissquote

$14.7

$14.6

$15.0
GBPUSD benchmark fee
$10.7

$8.8

$9.9
AUDUSD benchmark fee
$8.4

$10.0

 

$11.5

EURCHF benchmark fee
$4.7

$1.4

$1.4
EURGBP benchmark fee
$12.6

$12.0

$11.4

The forex fees are comprised of commissions, which are calculated as 0.006% of the trade volume, with a minimum charge of $2.

Fund fees

TradeStation Global’s fund fees are high. We calculated the fees for US mutual funds.

TradeStation Global commission for a $2,000 fund purchase
 TradeStation GlobalSaxo BankSwissquote
Mutual fund$25.0$0.0$9.0

Bond fees

TradeStation Global has generally low bond fees.

TradeStation Global commission of a $10,000 government bond trade
 TradeStation GlobalSaxo BankSwissquote
US Treasury bond$7.5$79.2$75.0
EU government bond$15.0$79.2$49.5

The bond commissions are volume-tiered, with a minimum fee.

TradeStation Global bond commission
 CommissionMinimum
US corporate0.15% of trade value$1.5
US Treasury0.03% of trade value$7.5
US Municipal0.15% of trade valueNo minimum
EU bonds0.15% of trade value€3

Options fees

TradeStation Global’s options fees are high versus the overall market, but still much lower than what Saxo or Swissquote charges.

TradeStation Global stock index options commission of 10 contracts
 TradeStation GlobalSaxo BankSwissquote
US stock index options$15.0$30.0$19.9
UK stock index options$17.0$28.3
German stock index options$14.9$39.6$9.9

Futures fees

TradeStation Global futures fees are low.

TradeStation Global stock index options commission of 10 contracts
 TradeStation GlobalSaxo BankSwissquote
US micro e-mini stock index futures$5.0$40.0$19.9
UK stock index futures$10.7$33.9
German e-mini stock index futures$13.4$39.6$9.9

The options fees are volume-based, i.e. based on the number of contracts. 

TradeStation Global bond commission
MarketCommissionNo minimum
North America – all options  
US Smart routed$1.50 / contractNo minimum
US Direct routed$2.00 / contractNo minimum
CanadaCAD 1.90 / contractNo minimum
Mexico (AMXL)MXN 50.00 / contractNo minimum
European stock options  
EUR denominated€1.50 / contractNo minimum
GBP denominated£1.50 / contractNo minimum
CHF denominatedCHF 1.50 / contractNo minimum
SEK denominated0.525% of trade value + external feesSEK 15
Asia-Pacific – index options  
AustraliaStock options: AUD 3.00 / contract
Stock index options: AUD 0.45 / contract
No minimum
Hong KongStock options: 0.30% of the option value (+ HKD 3.00 per contract exchange fee)
Stock index options: HKD 45.00 / contract
HKD 25.00 minimum for stock options
No minimum for stock index options
IndiaStock options: INR 45.00 per board lot
Stock index options: INR 22.50 per board lot
No minimum
JapanStock options: JPY 135.00 / contract
N225 index options: 0.018% of the option value
No minimum for stock options
JPY 150.00 minimum for stock index options
SingaporeSGD-denominated stock options: SGD 7.50 / contract
NIFTY: $4.25 / contract
No minimum
South Korea0.30% of the option valueKRW 1,500

Futures fees

TradeStation Global’s futures fees are low.

TradeStation Global stock index futures commission of 10 contracts
 TradeStation GlobalSaxo BankSwissquote
US micro e-mini stock index futures$5.0$40.0$19.9
UK stock index futures$10.7$33.9
German e-mini stock index futures$13.4$39.6$9.9

Similarly to options, you pay commissions based on the number of contracts you trade.

TradeStation Global futures fees
FuturesCommission
North America 
US$1.7 / contract
US micro e-mini$0.50 / contract
Global FX e-mini$0.75 / contract
Canada$1.35 / contract
Europe 
USD denominated$1.55 / contract
EUR denominated€1.35 / contract
GBP denominated£0.95 / contract
CAD denominatedCAD 1.85 / contract
CHF denominatedCHF 2.10 / contract
SEK denominatedSEK 15 / contract
NOK denominatedNOK 15 / contract
Asia-Pacific 
Australia (SPI Minis) AUD 1.10 / contract
India0.018 % of trade volume*
Japan (NKVI, N225, N225M Fut)**JPY 420/42 / contract
AUD denominatedAUD 5.30 / contract
HKD denominatedHKD 12.75 / contract
SGD denominatedSGD 3.35 / contract
CNH denominatedCNH 8.25 / contract

*Extra fees, like securities transaction tax, exchange charges, and service tax may be charged.

**Japanese futures fees differ for each stock index. In the table, we included the prices of the NKVI and N225 indices.

CFD fees

TradeStation Global has average CFD trading fees. 

To have a clear understanding of CFD fees we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

TradeStation Global CFD benchmark fees, for a $2,000 long position held for one week
 TradeStation GlobalSaxo BankSwissquote
S&P 500 index CFD fee$4.3$3.1$10.2
Europe 50 index CFD fee$5.1
$3.0
$6.1
Apple CFD fee$5.3$23.1
Vodafone CFD fee$12.7$21.1

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

TradeStation Global’s stock and stock index CFD fee calculations are commission-based and have a set minimum.

TradeStation Global CFD fees
CFDs Commission Minimum
Stock CFDs
US share CFDs $0.007 per share $1.50
European share CFDs (EUR denominated) 0.075% €4.50
UK share CFDs (GBP denominated) 0.075% £4.50
CHF denominated 0.075% CHF 4.50
DKK/NOK denominated 0.075% DKK/NOK 60.00
CZK denominated 0.3% per trade fee CZK 90.00
Australian share CFDs 0.075% AUD 7.50
Hong Kong Share CFDs 0.075% HKD 18.00
Japanese Share CFDs 0.045% JPY 150.00
Singapore 0.17% SGD 3.75
Stock index CFDs
US 500 / US 30 index CFD 0.0075% $1.50
US 100 index CFD 0.015% $1.50
UK 100 index CFD 0.0075% £1.50
EUR 50 index CFD 0.0015% €1.50
GER 30 index CFD 0.0075% €1.50
France 40, Spain 35, Netherland 25, Switzerland 20 0.015% €1.50
Japan 225 index CFD 0.015% JPY 60.00
Hong Kong 50 0.015% HKD 15.00
Australia 200 0.015% AUD 1.50
Forex CFD 0.6 basis points * trade value $3.00

Non-trading fees

TradeStation Global has low non-trading fees. There is no account, inactivity or deposit fee. The first withdrawal each month is free, but subsequent withdrawals have a fee. 

TradeStation Global non-trading fees
 TradeStation GlobalSaxo BankSwissquote
Account feeNoNoNo
Inactivity feeNoYesNo
Deposit fee$0$0$0
Withdrawal fee$0$0$10
TradeStation Global review

Account opening

TradeStation Global’s account opening is fully digital and fast, but the process is complicated, and there’s a high $1,000 minimum deposit required in order to use TSG’s own desktop platform.

ProsCons
Fast $1,000 minimum deposit required for desktop platform
Fully digital Not user-friendly
  

TradeStation Global is available in many countries globally. However, some notable countries where TSG is not available are the US, Canada, Australia, Singapore, Hong Kong and Japan. After Brexit, TSG can’t accept new clients from the EU and the EEA. Existing EU clients were migrated to IB Ireland’s platform.

What is the minimum deposit at TradeStation Global?

There is no minimum deposit required in order to use TradeStation Global’s web-based Client Portal or the Interactive Brokers desktop platform. The broker requires $0 minimum deposit, however, in order to trade on TradeStation Global’s own desktop platform, the broker requires $1000, which is higher than at many other brokers.which is higher than at many other brokers.

Account types

You can choose from many account types, including individual and corporate accounts.

The account types offered include IRA and UGMA/UTA account types. This is quite confusing, because such account types would only be available to US residents, who cannot use TradeStation Global.

How to open your account

The account opening process is fully digital but complicated. After your online registration, the account verification took a day, which is fast.

First, you have to go through a 5-step registration process which takes roughly an hour. We did not experience any bugs, but the steps can be quite complicated for less-experienced traders.

The steps of registration are the following:

  1. Register your email, then create a username and password.
  2. Fill out the form with your personal details, then choose a base currency for your account.
  3. Complete the survey on your trading expertise.
  4. Accept the general disclosures.
  5. Verify your identity with your passport / personal ID card / driver’s license and your residency with a bank statement / utility bill / driver’s license / credit card statement.

After the successful registration, you can access the Interactive Brokers platforms. TradeStation’s own desktop trading platform software will only unlock after a successful deposit of at least $1,000. We think it would be better if a client could test the TradeStation platform with a demo option, without a deposit.

TradeStation Global review – Account opening

Interactive Brokers review – Account opening – Infographic

Our best alternatives to TradeStation Global are:

The highest ranking competitors are:

  1. Saxo Bank full review
  2. Swissquote full review
  3. CapTrader full review
  4. Interactive Brokers full review
TradeStation Global review

Deposit and withdrawal

TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.

ProsCons
No deposit fee  Credit/Debit card not available
Several account base currencies 
No charge for the first withdrawal each month. 

Account base currencies

TradeStation Global provides a lot of account base currencies, which is great if you trade with assets in various different currencies.

TradeStation Global account base currencies
Australian DollarBritish PoundCanadian DollarChinese Yuan
Czech KorunaDanish KroneEuroHong Kong Dollar
Hungarian ForintIsraeli ShekelJapanese YenMexican Peso
New Zealand DollarNorwegian KronePolish ZlotyRussian Rouble
Singapore DollarSouth African RandSwedish KronaSwiss Franc 
US DollarINR (only in India)Korean Won 

Compared to its competitors, you can see that TradeStation Global’s selection is similar to that of Saxo Bank ad Swissquote.

Base currencies at TradeStation Global vs similar brokers
 TradeStation GlobalSaxo BankSwissquote
Number of base currencies232622

This selection is average compared to competing brokers.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

TradeStation Global charges no fees for deposits. However, deposit options are limited, as neither credit/debit cards nor electronic wallets can be used.

TradeStation Global deposit options
 TradeStation GlobalSaxo BankSwissquote
Bank transferYesYesYes
Credit/debit cardNoYesYes
Electronic walletsNoNoNo

The deposit process is as follows: first, you have to submit a request through ‘Account Management’, after which you can initiate a transaction through your bank.

A bank transfer can take several business days, while payment with a credit/debit card is instant. For us, a bank transfer took a few hours only.

You can only deposit money from accounts that are in your name.

TradeStation Global withdrawal fees and options

The first withdrawal each month is free of charge. All additional withdrawals have a fee.

Similar to deposits, you can only use a bank transfer for withdrawing funds. 

TradeStation Global withdrawal fees and options
 TradeStation GlobalSaxo BankSwissquote
Bank transferYesYesYes
Credit/debit cardNoNoNo
Electronic walletsNoNoNo
Withdrawal fee$0$0$10

The fee for additional withdrawals after the first free one depends on the currency and the type of bank transfer method you use for withdrawal.

TradeStation Global withdrawal fee
Withdrawal currencyWireBACS/GIRO/ACH/EFT/SEPA
USD*101
EUR81
GBP71
CAD122
CNH607
HKD958
NZD, SGD151
AUD15N/A
CHF11N/A
CZK300N/A
DKK30N/A
HUF6,000N/A
ILS30N/A
JPY1,600N/A
NOK, SEK50N/A
MXN100N/A
PLN40N/A
RUB330N/A
TRY120N/A
ZAR200N/A

How long does it take to withdraw money from TradeStation Global? In our test, the bank transfer withdrawal took 1 business day. You can only withdraw money to accounts in your name.

How do you withdraw money from TradeStation Global?

  • First, log in to the Client Portal then click on ‘Transfer & Pay’ and ‘Transfer funds’.
  • Select the account you want to use for the transaction.
  • At the top of the page, click on the ‘Withdraw Funds’ tab. 
  • Select the currency of your withdrawal, then the withdrawal method.
  • Fill out the required information.
  • Submit your withdrawal request. 
  • You can see the status of your request in ‘View Transaction History’. 
TradeStation Global review

Web trading platform

You can use your TradeStation Global account to log in to the Interactive Brokers web trading platform. The TSG Client Portal is simple and easy to use even for beginners.

ProsCons
 User-friendly  User experience could be better
Clear fee report 
Two-step (safer) login 
TradeStation Global platforms to choose from
Trading platformScoreAvailable
Web
3.8
stars
Yes
Mobile
3.5
stars
Yes
Desktop
3.3
stars
Yes

You can choose between two web trading platforms: the Client Portal and Webtrader. In this review, we tested the Client Portal, since it is more user-friendly and easier to use than Webtrader. 

The Client Portal is available in multiple languages: Dutch, English, French, German, Italian, Japanese, Russian, Simplified Chinese, Slovakian, Spanish and Traditional Chinese.

Look and feel

The Client Portal platform is particularly user-friendly and intuitive. It is easy to find every feature even if you’re a beginner trader.

However, from time to time, there are some annoying technical glitches. For example, if you have a large number of positions, there are often problems displaying them in sorted order (e.g. from A to Z) while you are scrolling.

TradeStation Global review – Web trading platform

Login and security

For the 2 factor authorization, use the IBKR Mobile Authentication (IB Key), which requires a fingerprint or PIN, depending on the hardware capabilities of your phone. Until the IB key is set up, you will receive an SMS message each time you log in.

Search functions

The search function is easy to use and works well.

All you have to do is type in the name of the asset you are looking for, and you can see a list of exchanges and products. The search field is on the right side in the top menu bar.

TradeStation Global review – Web trading platform – Search

Placing orders

Client Portal offers many order types:

  • Limit 
  • Market 
  • Stop
  • Stop Limit
  • Limit-on-Close
  • Market-on-Close
  • Trailing Stop
  • Trailing Stop Limit

To get a better understanding of these terms, read this overview of order types.

You can also use a lot of order time limits:

  • Day
  • Good-til-Canceled (GTC)
  • Immediate or Cancel
  • Market-on-Open
  • Limit-on-Open

TradeStation Global review – Web trading platform – Order panel

Alerts and notifications

You can set price alerts using the bell icon.

Portfolio and fee reports

Portfolio and fee reports are transparent. The portfolio tab gives a clear overview of your performance, including historical profit/loss balance and the fees you paid.

TradeStation Global review

Mobile trading platform

You can use Interactive Brokers’s IBKR Mobile as a mobile trading platform. It has a lot of functions and a useful chatbot, but its user interface could be better.

ProsCons
Two-step (safer) login Minor technical glitches
Good variety of order types 
Price alerts 

IBKR Mobile is available both for iOS and Android. In this review, we tested it on Android.

The number of available languages is almost the same as at the web trading platform, only Slovakian is not supported.

Look and feel

The mobile trading app is much like the web platform. Its overall look and user-friendliness lag behind competitors’ mobile platforms.

There are some annoying glitches. For example, when we received a bulletin in our inbox informing us of margin requirement changes, we could see half of the text and could not resize the window or scroll.

TradeStation Global review – Mobile trading platform

Login and security

You can use a two-step login, which is safer than a simple login. Furthermore, if your device has a fingerprint sensor, you can also use biometric authentication for convenience.

Search functions

The search function works well, just like at the web trading platform. You can access the search button easily from any menu.

When you type in the asset you are looking for, the app lists all asset types. For example, if you search for Apple, you can choose between Apple stock, futures, options, warrants, as well as CFDs.

TradeStation Global review – Mobile trading platform – Search

After you have selected the product are you interested in, you will be greeted by an information and trading window, which shows:

  • Asset market information 
  • An interactive chart with technical indicators
  • Related news
  • Some fundamental data
  • Summary of the latest analyst report
  • The buy and sell buttons that transfer you to the order panel.

Placing Orders

IBKR Mobile has the same order types as the web trading platform.

TradeStation Global review – Mobile trading platform – Order panel

Alerts

You can set price alerts using the bell icon.

Special feature – Chatbot

The most innovative and exciting function within the app is the chatbot, called IBot. You can use the chatbot to execute or close an order, or to get basic info quickly.

TradeStation Global review – Mobile trading platform – Chatbot

The chatbot understands basic commands, such as “apple price” or “buy 1 apple share”. In addition, you can also search for company fundamentals, like dividend yields or PE ratios. Some of the functions, like displaying a chart, are also available via the chatbot.

TradeStation Global review – Mobile trading platform – Chatbot charting

TradeStation Global review

Desktop trading platform

TradeStation Global’s desktop trading platform is more suited for advanced traders. It’s highly customizable and offers many order types, but it’s not user-friendly and installation is complicated.

ProsCons
 Clear fee report Not user-friendly
Good customizability (for charts, workspace) Poor search function
Good variety of order types Overly complicated installation

TradeStation Global provides two desktop trading platforms:

  • TradeStation’s own desktop platform
  • Interactive Brokers’s Trader Workstation (TWS).

In this review, we tested TradeStation’s own platform, which is only available in EnglishTradeStation Global users can only use TradeStation 9.5 while regular TradeStation users can use the new 10th edition. For this review, we tested the older version.

Installation

After you completed the depositing process successfully, you will get an email that includes the desktop platform credentials and a brief guide on how to install TradeStation. During our test, it took a day for us to receive our credentials after the deposit. 

The steps of installation:

  1. Download IBKR’s Trader Workstation.
  2. Log in to Trader Workstation using the Secure Login System, a two-step authentication.
  3. Open ‘Global Configuration’, then click on ‘API Settings’.
  4. Apply a specific set of settings including special ports.
  5. Click on ‘Apply’, then exit TWS. Relaunch TWS, leave it running in the background, then launch TradeStation and use the credentials from the email TradeStation sent you.

The whole setup process was overly complicated and not user-friendly. We think that an everyday user would find this method difficult and time-consuming.

Look and feel

TradeStation Global’s desktop trading platform suits daily traders and professional traders. It is easy to customize and offers a wide range of tools.

If you are a first-timer or long-term investor, you will likely struggle to use its features. It is not intuitive and has an outdated design. 

TradeStation Global review – Desktop trading platform

Login and security

Similarly to the web trading platform, you can set a two-step login. Before you launch TradeStation, you have to open IBKR’s Trader Workstation first, which requires SMS authentication.

Search functions

The search function is hard to use, as each tab uses a different search feature.

TradeStation Global review – Desktop trading platform – Search

Placing orders

TradeStation Global scores very highly on placing orders. There are a lot of order types, including very sophisticated ones:

  • Limit
  • Market
  • Stop Limit
  • Stop Market

Advanced order types are available for certain products. These include Order Sends Over (OSO) or One-Cancels-the-Other (OCO). You can find these settings at the top of the window, in the toolbar next to ‘Symbol’.

It’s also a great feature that you can select the order routing, i.e. whether you choose the best execution or select the exchange you want to place your order on.

There are many order time limits you can use:

  • Good-’til-Cancelled (GTC)
  • Good-’til-Day (GTD)
  • Immediate or Cancel (IOC)
  • Fill or Kill (FOK)
  • At-the-Open (OPG)

TradeStation Global review – Desktop trading platform – Order panel

Alerts and notifications

You can set alerts and notifications on the desktop trading platform, you just have to right-click on the chart on your Workstation.

Portfolio and fee reports

Due to its old and complex design, we could not find any way to download, access or print our fee reports or account statements. It is much easier to find this information on the Client Portal.

TradeStation Global review

Markets and products

With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.

With TradeStation Global, you are trading through Interactive Brokers’s trading services, which is a great thing as IB offers one of the widest range of available markets and products among online brokers.

This selection is great compared to competing brokers. Both Saxo Bank and Swissquote offer fewer stock markets to trade on.

TradeStation Global asset classes
 TradeStation GlobalSaxo BankSwissquote
StocksYesYesYes
ETFsYesYesYes
ForexYesYesYes
FundsYesYesYes
BondsYesYesYes
OptionsYesYesYes
FuturesYesYesYes
CFDsYesYesYes
CryptoYesYesYes

TradeStation Global has a wide selection of product types, from stocks to cryptos, with an exceptional range of ETFs and bonds. Also, there are a few more exotic products available, like warrants and structured products. Only their CFD and FX pair selection lacks behind competitors like Saxo Bank.

Stocks and ETFs

TradeStation Global grants you access to more stock markets than its competitors, including notable exchanges like the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE). Smaller exchanges like the Polish or Mexican markets are also available.

Other than stocks, you can choose from more than 13,000 ETFs. This is well above what most competitors offer. 

TradeStation Global stock and ETF selection
 Interactive BrokersSaxo BankDEGIRO
Stock markets (#)835060
ETFs (#)13,0006,40020,000

Forex

The FX pair selection at TradeStation Global is vast, with more than 100 pairs available, however, Saxo offers more pairs to trade.

TradeStation Global forex selection
 TradeStation GlobalSaxo BankSwissquote
Currency pairs (#)10519080

This selection is average compared to competing brokers.

Funds

Through TradeStation Global, you can access more than 400 fund providers, including big names like BlackRock. This selection is wider than at most competitors. 

TradeStation Global mutual fund selection
 TradeStation GlobalSaxo BankSwissquote
Fund providers (#)40017340

This selection is great compared to competing brokers. Both Saxo Bank and Swissquote make fewer fund providers available.

Bonds

TradeStation Global has access to an exceptionally wide range of bonds. This includes both government and corporate bonds, but excludes municipal bonds: the latter is only available for US residents. The bond selection is broader than at competitor brokers. 

TradeStation Global bond selection
 Interactive BrokersSaxo BankDEGIRO
Bonds (#)1,065,0004,50053,400

This selection is great compared to competing brokers. Both Saxo Bank and Swissquote list fewer bonds.

Options

The range of options markets is also extremely good. Bigger and smaller markets are all included, like the Chicago Board Options Exchange (CBOE) and the Mexican Derivates Exchange (MEXDER). 

TradeStation Global options selection
 TradeStation GlobalSaxo BankSwissquote
Options markets (#)34206

This selection is great compared to competing brokers. Both Saxo Bank and Swissquote offer fewer option markets to trade on.

Futures

Through TradeStation Global, you can access a vast selection of futures products and markets. Both major and minor markets are available. 

TradeStation Global futures selection
 TradeStation GlobalSaxo BankSwissquote
Futures markets (#)32286

This selection is great compared to competing brokers. Both Saxo Bank and Swissquote offer fewer futures markets to trade on.

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Compared to competitors, TradeStation Global has an average range of CFDs.

TradeStation Global CFD selection
 TradeStation GlobalSaxo BankSwissquote
Stock index CFDs (#)132026
Stock CFDs (#)7,1007,800300
ETF CFDs (#)1,100
Commodity CFDs (#)2012
Bond CFDs (#)83
Futures CFDs (#)

Cryptos

At TradeStation Global, you can trade with Bitcoin and Ethereum ETNs and Bitcoin Futures, just as at IB:

  • Bitcoin and Ethereum ETNs are traded on the Stockholm Stock Exchange and the US OTC (Pink) markets
  • Bitcoin Indices are available on the New York Stock Exchange (NYSE), and on the CME Group and Chicago Board Options Exchange (CBOE)
  • Bitcoin futures are available on the CME Group and Chicago Board Options Exchange (CBOE)

If you want to know more about crypto investing, we recommend our crypto blogpost.

TradeStation Global crypto selection
 TradeStation GlobalSaxo BankSwissquote
Cryptos (#)4335

This selection is average compared to competing brokers.

Note that the FCA has banned the sale of crypto-derivatives to UK retail consumers since 6 January 2021.

TradeStation Global review

Research

TradeStation Global’s research tools are advanced, with good charting capabilities and many technical tools. However, fundamental data is limited and user-friendliness could be better.

ProsCons
Good interactive chart Limited fundamental data
Trading ideas 
Good set of analytical tools 

Research can be done both on the Interactive Brokers and the TradeStation platform. In this review, we tested TradeStation’s research tools.

Trading ideas

If you would like to use trading ideas, we recommend using the Interactive Brokers web or desktop trading platforms. 

On the IBKR platform, you will have access to recommendations provided by third parties. These research tools are mostly free, but there are some you have to pay for. Several prominent news sources, like Thomson ReutersMorningstar and Dow Jones, are available for free.

Fundamental data

The range of fundamental data available is limited and very hard to find due to the complexity of the platform. For example, we were able to find some information (such as foundation date and P/E ratio), but not other types of data that TradeStation Global support said is also available on the platform. For a smoother experience and more in-depth research, we recommend you use Interactive Brokers’s tools, which are also available for TradeStation Global clients. 

Charting

The charting features are great: you can use over 170 technical indicators. Also, there are extra features like chart saving

On the negative side, charting is mainly suited for more advanced users. The UI is not user-friendly and some functions are hard to master. Simpler features like zoom work differently than other platforms we tested.

TradeStation Global review – Research – Charting

Charts are not available for every product. You have to buy certain data packages to be able to see movements.

News feed

The news feed is made up of news snippets, which are imported from various news sites. They are not written by TradeStation.

Look for ‘Product categorization‘ for additional news. One drawback is that in some cases we could not find news results for major companies like Exxon Mobil or Google.

Other research tools you will enjoy

TradeStation has a great watchlist system called RadarScreen. You can customize it in almost endless ways, with more than 300 data points and checking charts. 

EasyLanguage is a great programming tool to customize or create your own technical tools, such as indicators. 

TradeStation Global review – Research – EasyLanguage

TradeStation Global review

Customer service

TradeStation Global’s phone and email services are great, but it is not 24/7. We missed a live chat feature.

ProsCons
 Phone support No live chat
Fast response time No 24/7 support
Relevant answers 

TradeStation Global has its own customer service center to handle inquiries. When we tested, response time was much faster at TSG compared to Interactive Brokers’s own customer service.

You can reach TradeStation Global via:

  • phone
  • email
  • submitting a ticket on the website

During our most recent check, phone support seemed to be overwhelmed with requests. When we called, sometimes we could not reach a representative at all, although when we did, it only took 2-3 minutes. When the waiting time was over 5 minutes, we were able to leave a message. 

Email support is super fast. There were times when we received an answer within 30 minutes. Also, in one case, in response to a question we sent in an email, we received a phone call answer from a representative personally, who offered to help us with any further inquiries. The answers were helpful, and most of the time relevant for us.

TradeStation Global has also implemented a ticket support system for clients to help with their accounts, and they aim to reply to all tickets within one day.

On the negative side, we missed 24/7 availability and a live chat option. 

TradeStation Global review – Customer Service

TradeStation Global review

Education

TradeStation Global has a limited range of educational content. Only a handful of videos and the demo account for Trader Workstation are available.

ProsCons
Trading platform tutorial No educational videos
  
  

At TradeStation Global, not much educational content is available. You can check out a few quick tips for the desktop platform, like advanced charting tutorials and past webinars

If you use the Trader Workstation platform, you can create a demo account as well.

TradeStation Global review – Education

The is only a small range of videos available. We think the best way to learn is through a demo account, or by a step-by-step tutorial on any trading platform. We missed these features at TradeStation Global.

TradeStation Global review

Safety

TradeStation Global acts an introducing broker of Interactive Brokers (IB), meaning that your assets and cash are held by IB. Interactive Brokers is regulated by the UK’s top-tier FCA, it is listed on a stock exchange, and discloses its financials transparently.

ProsCons
 Majority of clients belong to a top-tier financial authority Does not hold a banking license
High level of investor protection 
  

Is TradeStation Global regulated?

TradeStation Global is a combined product offered by Interactive Brokers and TradeStation International.  Both Interactive Brokers and TradeStation International are regulated by the UK’s Financial Conduct Authority (FCA). 

Is TradeStation Global safe?

To be certain if a brokerage is safe, we highly advise that you check two facts: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

TradeStation Global is an introducing broker of Interactive Brokers UK (IBUK). This means that your cash and assets are held with IBUK.

IBUK is regulated and authorized by the UK’s FCA. The protection amount also depends on what you are trading with:

  • If you trade with forex, CFDs, non-US stock index options or futures, you are protected by the FCA, up to £85,000. 
  • If you trade with stocks, bonds, funds or US stock index options, you are protected by the US investor protection, i.e. $500,000, with a cash limit of $250,000.

Background

TradeStation Global was launched in 2018 as a combined product of Interactive Brokers and TradeStation International. See the review summary at the top of this page for details on what services you get from IB and TradeStation.

  • TradeStation International is based in the UK and was established in 2004, while TradeStation itself was founded in 1982.
  • Interactive Brokers: Provides the brokerage service and is active since 1978.

Both companies have been around for 30+ years, which means they have made it through multiple economic downturns. This is a good sign for their safety. 

Note that TradeStation Global no longer accepts new clients from the EU.

Existing EU clients of TradeStation Global were migrated from Interactive Brokers UK (IBUK) to Interactive Brokers Ireland Limited (IBIE) in January 2021 and are subject to the following fees:

– trading fees: the fee schedule of Interactive Brokers Ireland will apply, not TradeStation Global’s fees

– a monthly subscription fee of $15 from March 2021 unless they opt out but that would mean they no longer have access to TradeStation’s own desktop platform and are subject to Interactive Brokers’s inactivity fees.

TradeStation Global review

Bottom line

TradeStation Global has low stock/ETF fees, provides access to a lot of products and markets and has great customer support. The TradeStation Global desktop platform has great charting tools, plenty of indicators, highly customizable watchlists (Radar Screen) and a great programming tool (EasyLanguage).

On the other hand, the deposit and withdrawal process is not user-friendly and you can use only bank transfer. The account opening is complicated, and for full account verification to use the TSG desktop trading platform, a minimum deposit of $1,000 is required.

If you want access to IB’s product range and an account with a slightly different fee structure, feel free to try TradeStation Global.

TradeStation Global review

FAQ

We recommend TradeStation Global for traders and investors looking for low fees and a wide selection of products.

Below you can find links to all aspects of TradeStation Global in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our TradeStation Global fees article.

What about the minimum deposit?

Our ultimate guide to the TradeStation Global minimum deposit is updated regularly.

How to start your TradeStation Global account?

Look no further than our evaluation of the TradeStation Global account opening.

How’s their trading app?

Here’s our expert view after checking the TradeStation Global trading app.

Is the quality of customer service satisfactory?

All you need to know about the TradeStation Global customer service.

Legit or scam?

Is TradeStation Global legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether TradeStation Global is really free.

Is this broker good for beginners?

We checked it in Is TradeStation Global good for beginners.

Should you buy your silver bullets on TradeStation Global?

Research for silver bugs in the Silver buy on TradeStation Global guide

I want to trade options, are they available at TradeStation Global?

We explored the topic in Can you trade options on TradeStation Global?

What is the minimum account balance at TradeStation Global?

Check out the current account balance requirements at TradeStation Global in our What is the minimum account balance at TradeStation Global article.

Looking for commission and fees data for TradeStation Global?

We collected them in TradeStation Global commission and fees.

How do you withdraw money from TradeStation Global?

We tested it and collected the options and costs in How to withdraw money on TradeStation Global.

TradeStation Global stock and ETF commission of a $2,000 trade
 Interactive BrokersSaxo BankDEGIRO
US stock$1.0$10.0$1.2
UK stock$3.4$11.2$3.9
German stock$3.0$12.0$5.9
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