Pros
• Wide array of investment options
• No account minimum and no annual management fees
• Robust offering of platforms and trading tools
Cons
• Sophistication could be excessive for the beginner and hands-off investor
TradeStation offers a professional-level trading platform with an individual retirement account (IRA) option for the advanced investor. From stocks, ETFs, mutual funds, options trading, futures, cryptocurrency, and bonds, TradeStation offers investment options that will appeal to a wide variety of investors, especially those who prioritize diversification. TradeStation’s platform includes access to heavy-duty tools, including data feeds, charts, and more.
TradeStation doesn’t charge an annual account management fee for their self-direct IRA. They also offer $0 online trades for stocks and exchange-traded funds (ETFs). Access to their web trading, desktop platform, and mobile apps is also free, along with real-time market data.
Some other provider accounts, like a Fidelity Go robo-advisor account, charge an annual management fee, making TradeStation a competitive option if you’re looking to avoid such fees.
TradeStation’s wide range of investment options appeals to advanced and active traders. Clients can choose investment options ranging from stocks, ETFs, mutual funds, options trading, futures, cryptocurrency, and bonds. TradeStation also offers a 0.15% interest rate on uninvested cash for accounts with more than $100,000.
Start your 401(k) rollover to a TradeStation IRA in minutes.
TradeStation offers live access to support via phone and chat Monday Through Friday from 8 a.m. to 5 p.m. Eastern time. You can also reach support by email 24/7. Some of the larger providers, like Charles Schwab, offer 24/7 phone support, although TradeStation’s availability is still in line with other providers.
Additionally, TradeStation’s mobile app offers a customer support contact option. TradeStation’s iOS app ranks competitively against other providers with an average rating of 4.5 stars, however, the Android App receives a lower rating of 3.6 at the time of this article.
Phone Number: 800-822-0512
Phone Hours: Monday through Friday: 8:00 am – 5:00 pm ET
Fax: 954-652-7599
Email Address: Contact through the website
Support Center: https://www.tradestation.com/faqs/
If you’re interested in setting up a TradeStation account, they offer a wide range of account types, including taxable brokerage online trading accounts and more. For the purposes of this review, we’ll focus on TradeStation IRA account offerings.
Traditional IRAs allow you to contribute pre-tax money to your retirement funds, which reduces your taxable compensation (and thus earns you a deduction) in the year the contributions are made. Investment earnings grow tax-deferred, and retirement withdrawals are taxed as regular income.
Roth IRAs work in the opposite way to traditional IRAs: They’re funded with after-tax money, which means you won’t get a deduction in the short term, but your contributions see tax-free growth potential and, provided all the rules are followed, can be withdrawn tax-free come retirement time, as well.
SEP IRAs are specifically designed for small business owners as well as independent contractors and allow such individuals to maximize their retirement contributions (or their employees’) by increasing the total annual contribution limit.
TradeStation offers a SIMPLE IRA, which stands for Savings Incentive Match Plan for Employees. These IRA account types are retirement plans typically offered by small businesses or available to self-employed individuals. Employers may choose to make matching contributions to the employee’s account.
TradeStation also provides a rollover IRA that’s perfect for catching the funds from your old 401(k). Not sure how to do a 401(k) rollover? Capitalize is here to help!
TradeStation offers a few heavy-duty trading platforms that stand out amongst IRA providers, including a desktop, web trading, mobile app, and futures trading platform. The platforms connect directly to stock, options, and futures market centers to deliver a high degree and speed of execution. Additionally, TradeStation’s tools source from a massive database and offer options to customize your experience.
TradeStation is a serious platform with a strong history for the advanced investor. If you’re looking for access to a robust set of data feeds and tools, along with perks like no account minimums or annual management fees, TradeStation may be a great provider for your new IRA.
If you’re looking to fund your new TradeStation IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) rollover in just a few minutes.
