When it comes to accessing these services, you have the same three options for TradeStation and thinkorswim: desktop, web and mobile. It does not currently support cryptocurrency trading, though. Thinkorswim also offers the same standard range of financial products but also foreign exchange.
In addition to these typical offers, you can also choose to invest in futures, cryptocurrency and initial public offerings (IPOs). TradeStation lets investors trade in most mainstream financial products, like equities, exchange-traded funds (ETFs), options, futures and mutual funds. Lower rates are offered after $500k, though you have to may a call to learn them. By contrast, thinkorswim’s range from 7.50% to 9.50%. TradeStation’s vary between 3.50% and 9.50% the more you leverage, the lower the interest rate. Their highest margin rates are comparable. It’s important to note that thinkorswim has foreign currency and exchange, or forex, whereas TradeStation does not thinkorswim bases its forex trades on the bid/ask spread between countries, and foreign stock trading comes with a $6.95 trading fee. TradeStation users may be subject to an annual $50 inactivity fee, although this can be avoided if you maintain the minimum activity. Unlike TradeStation, there is no account fee. Options cost $0.65 per contract, while futures can cost up to $5 per trade. So costs can run up for individuals on the TS GO plan.įor its part, thinkorswim only has one price model with the same zero-commission stock and ETF rule. The desktop version has all of TradeStation’s investment tools. There is also a $1.40 surcharge for futures trades per contract. If you use the TradeStation desktop interface on the TS GO plan, you can expect to pay a $10 fee for each equity and option trade. TS SELECT has a $2,000 account minimum but isn’t subject to the same surcharges TS GO is to use TradeStation’s desktop platform. Both accounts have the same pricing for futures options at $1.50. In contrast, TS SELECT charges $0.60 per options contract and $1.50 for futures per contract. Options are $0.50 per contract, and futures are $0.85 per contract.
TS GO is targeted at retail investors and comes with slightly leaner pricing than its counterpart. Both charge $0 to trade equities and ETFs, like thinkorswim, but vary when it comes to futures, options, minimum balances and other certain fees. TradeStation has two price models thanks to the account types it offers: TradeStation Go (TS GO) and TradeStation Select (TS SELECT). After that, the two have somewhat comparable pricing, with some select fees that apply to one or the other. Both have dropped the fees brokerages used to include and now offer them at zero-commission. TradeStation and thinkorswim are like many online brokers these days in terms of their stock ETF costs. And although it does not have the same range of investment options as TradeStation, it still offers foreign exchange which the other doesn’t. It offers simulated trading (paper trading) that can help beginners adjust. However, thinkorswim may be the kinder of the two. Newcomers may struggle with the learning curve both services pose. Both online brokerage’s desktop interfaces have multiple data and investing tools that can either help or hurt an investor’s experience. TradeStation and thinkorswim show this through their desktop platforms.
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