TradeStation vs. TD Ameritrade
TradeStation and TD Ameritrade are two well-known US-based brokers with many similarities. While both offer traders quality research and competitive proprietary trading platforms supporting algorithmic trading solutions, TD Ameritrade presents beginner traders with better educational material.
Cryptocurrency traders may find the TradeStation TSCrypto trading platform of interest. It features one-click order entries, analysis tools, a cross-market liquidity indicator, and advanced order routing/execution.
Algorithmic traders can connect sophisticated trading solutions to TradeStation and TD Ameritrade, but the former also maintains its TradingApp Store. It allows traders free and paid-for upgrades, helping them expand on the core version of the TradeStation trading platform. TD Ameritrade counters with the well-known thinkorswim trading platform, filled with competitive trading tools and an active community.
We have conducted an in-depth review of TradeStation and TD Ameritrade to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- TradeStation vs. TD Ameritrade - Verdict
Features and Platforms
| Features & Platforms | Tradestation (visit site) | TD Ameritrade (visit site) |
 |  | |
| Headquarter: | US | US |
Established : | 1982 | 1971 |
Retail Loss Rate: | Undisclosed | Undisclosed |
Regulation: | ||
Minimum Deposit: | $0 | $0 |
Demo Account: | ||
Managed Account: | ||
Islamic Account: | ||
Inactivity Fee | ||
Deposit Fee: | ||
Withdrawal Fee | Third-Party | Third-Party |
Funding Methods: | 3 | 3 |
MT4: | ||
MT5: | ||
cTrader: | ||
Proprietary Platform: | ||
Automated Trading: | ||
Social / Copy Trading: | ||
MT4/MT5 Add-ons: | ||
Guaranteed Stop Loss: | ||
Negative Balance Protection: | ||
Bonuses and Promotions: | ||
Unique Feature One: | High-quality trade execution | Choice of trading platforms |
Unique Feature Two: | Massive historical database | Brick-and-mortar broker |
Broker Offers: |
Noteworthy:
TradeStation pays up to 6% annual interest on eligible cryptocurrency assets. TD Ameritrade became the leader in the US for self-directed investors and traders following its 2020 acquisition by Charles Schwab.
Available Markets
| Available Markets | TradeStation | TD Ameritrade |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Index CFDs: | ||
Equity CFDs: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Mobile Alerts: | ||
Maximum Retail Leverage: | 1:50 | 1:50 |
Maximum Pro Leverage: | 1:50 | 1:50 |
TradeStation does not offer Forex currency pairs, but traders get access to a few currency futures. Neither broker has CFDs, which are illegal in the US, but offer index futures and thousands of direct equities. Both brokers maintain a well-balanced asset selection, but TD Ameritrade presents a broader selection.
Typical Spreads and Fees
| Typical Spreads & Fees | TradeStation | TD Ameritrade |
Minimum Raw Spreads: | Not applicable | Undisclosed |
Minimum Standard Spreads: | Not applicable | Undisclosed |
Minimum Commission for Forex: | Not applicable | Commission-free |
Commission for CFDs/DMA: | $5 - $14.95/trade | $6.95/trade |
Commission Rebates: | ||
Execution Type: | Market Maker | Market Maker |
TradeStation notes commission-free trading, but this only applies to select US assets under the TradeStation TS Select account. Other fees range between $0.60 and $14.95, plus an additional $10.00 for equity traders with a TS Go account. TD Ameritrade follows a similar offer, with costs between $0.65 and $6.95 but high swap rates.
Security and Trust
TradeStation
| Country of the Regulator | Name of the Regulator | License Number |
US | US Securities and Exchange Commission (SEC) | Undisclosed |
TD Ameritrade
| Country of the Regulator | Name of the Regulator | License Number |
US | US Securities and Exchange Commission (SEC) | Undisclosed |
The ultimate regulator of TradeStation and TD Ameritrade is the US Securities and Exchange Commission (SEC). Both are also members of the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization with SEC oversight. The Securities Investor Protection Corporation (SIPC) protects clients up to $500,000 per net equity or $250,000 for cash claims at TradeStation and TD Ameritrade alike.
TradeStation vs TD Ameritrade – Verdict
TradeStation
| Pros | Cons |
| Competitive proprietary trading platform and Trading App Store | Limited deposit and withdrawal options |
| Quality market research and education for beginner traders | Higher overall trading costs |
| Secure and trustworthy trading environment | |
| 6% annual interest on eligible cryptocurrency assets |
TD Ameritrade
| Pros | Cons |
| Excellent asset selection across multiple sectors | Limited deposit and withdrawal options |
| Superior trading environment and brick-and-mortar financial planning | Higher overall trading costs |
| Competitive trading platforms with support for algorithmic/API trading | |
| High-quality research and educational tools |
TradeStation and TD Ameritrade offer many similarities, but the latter takes an overall lead. Traders at TD Ameritrade have access to a better list of assets, more in-depth educational tools, and easier accessible customer service. It also presents brick-and-mortar financial planning. TradeStation caters primarily to short-term traders and is better for cryptocurrency trading. Both are part of publicly listed companies and maintain a secure, trustworthy trading environment.
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