ETrade vs. Tradestation – A Detailed Comparison
Discover our detailed comparison of ETrade and Tradestation to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for ETrade and Tradestation across the internet and compiled it all in this article.
Overview of ETrade
Founded in 1982, ETRADE was one of the first companies to offer electronic trading to individual investors, making it easier for the general public to participate in the stock market without the need for traditional face-to-face transactions with brokers. ETrade offers competitive pricing for derivative trading and offers a trading platform for charting and analysis.
✓ Good research tools
✓ User-friendly app
✓ Great customer support
ETrade is Best For
ETrade is best for long-term investors and active traders alike, but it is just okay compared to other platforms. If you are a long-term investor, ETrade is great, but it doesn’t offer as much flexibility with fractional shares. It is also not the broker of choice for active traders, since much better platforms like tastytrade and thinkorswim are available.
Overview of Tradestation
TradeStation is a brokerage firm that caters to active traders and very serious investors who demand a comprehensive platform with advanced trading features and analytical tools. While TradeStation is a solid brokerage, options traders must be aware of the abnormally high exercise fees.
✓ Backtesting tools
✓ Integrate with TradingView
✓ Best for active traders
Tradestation is Best For
TradeStation is best suited for traders who need a sophisticated trading environment. Its platform might be overwhelming for beginners but is highly appreciated by experienced traders for its depth, flexibility, and range of professional-grade tools.
Key Characteristics of ETrade and Tradestation
| Platform | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| ETrade | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Bonds | Power ETrade Platform | Real-time data with funded account | No premium features |
| Tradestation | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Forex | Downloadable and web trading platforms | Real-time data with funded account | No premium features |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| ETrade | Yes, no fees in most cases | Yes | SIPC/FDIC Insured | Yes |
| Tradestation | No | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | ETrade | Tradestation |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | $0.65 per contract | $0.60 per contract |
| Futures Commission | $1.50 per contract | $1.50 per contract, $0.50 micro |
| Futures Options Commission | Must call to activate futures options | $1.50 per contract |
| Option Exercise Fee | None | $14.95 fee at expiration, early exercise is $1.50 per contract with $5,95 minimum |
ETrade vs Tradestation – Bottom Line
Choosing between ETrade and Tradestation depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
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