PROS / Futures and forex investments are offered through this service.
CONS / Broker-assisted trades costs more than with the other broker services we reviewed.
VERDICT / TradeStation can help you analyze market trends and guide you through the process of investing.
TradeStation’s stock analysis software offers powerful tools needed for investing on your own. These include a customizable platform with live quote streams, watchlists, alerts, charts, graphs and reports, including volatility reports. Risk evaluators and option strategies let you determine possible loss or profits before you place a trade. TradeStation has automated trading so you can set your parameters and let the platform do the rest.
Although TradeStation is considered free stock market technical analysis software, you should be aware that you'll be charged a $50 fee if your balance dips below $2,000 or you haven't made at least five trades in 12 months.
The normal fees are $5 per stock or option trade and an additional $0.50 per options contract. Broker-assisted stock trades cost you $50, which is the highest assisted fee for any stock market analysis software we reviewed. Also, the minimum investment you must deposit into your account is $5,000 – also the highest – while some of the best stock analysis software choices have no minimum.
In addition to stocks and options, TradeStation lets you trade mutual funds, bonds and ETFs. It also has futures and allows you to trade foreign currency, or forex. However, it doesn't provide access to foreign stock markets, nor does it give you technical analysis of international stock trends.
All of the research and stock analysis tools available through the customizable platform can also be accessed with the TradeStation mobile app. This means you can trade stocks and options, monitor your orders or stock positions, and research investment opportunities while you are away from your computer. Mobile access is available for both Android and iOS platforms.
If you need a little help understanding how investments work or how to best optimize your portfolio, TradeStation has a lot of educational material in the form of articles, video tutorials, webinars and live events. It also has a FAQs section available on its website. Email, telephone and live chat are also all available; however, these are only open during regular business hours and not 24/7.
Although TradeStation is an expensive choice if you need broker-assisted trades and the minimum investment is the highest in our lineup, this free stock market analysis software is a good choice, especially if you're interested in futures and forex trading. TradeStation also has all the research and trade tools you need to invest while at your desk or on the go with the mobile app.