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No software fees for new Tradestation account!


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No software fees for new Tradestation account!

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  #1 (permalink)
 iq200 
Surrey, UK
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Broker: Kinetick, InteractiveBrokers
Trading: Equities, Futures
 
Posts: 304 since Jun 2010
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I thought I'd bring it to attention of people on this site that I got an email today saying Tradestation will no longer be charging software fees for brokerage accounts. This is a game changer but I suspect it also has to do with the fact that people have been leaving Tradestation.

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  #2 (permalink)
 1ALG 
MADRID+SPAIN
 
Experience: Intermediate
Platform: Tradestation, Metatrader,
Trading: CURRENCY FUTURES
 
Posts: 2 since Jun 2017
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I did receive same message today too.

Tradestation is a nice Platform but downside is that to be able to use it you are glued to their broker, whereas with other tols such us Multicharts or Ninja there is some more leeway in that regard.

PS: This is my first post here so have my warmest hellow to al of you from the center of the Peninsula

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  #3 (permalink)
 iq200 
Surrey, UK
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Broker: Kinetick, InteractiveBrokers
Trading: Equities, Futures
 
Posts: 304 since Jun 2010
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If you love Tradestation then http://traderssoft.com/wp/ts/ is for you. They have sw that lets you use IB with Tradestation.


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  #4 (permalink)
 hobbys11 
eindhoven, the Netherlands
 
Experience: Intermediate
Platform: TTP,/Ninja, Multi, python
Broker: IB, cqg
Trading: dax, ES, CL, AEX
 
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iq200 View Post
I thought I'd bring it to attention of people on this site that I got an email today saying Tradestation will no longer be charging software fees for brokerage accounts. This is a game changer but I suspect it also has to do with the fact that people have been leaving Tradestation.


Account Service Fee is still $99.95 per month for a futures account (information on the website)

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  #5 (permalink)
jason284454
Mannheim, Germany
 
 
Posts: 4 since May 2012
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hobbys11 View Post
Account Service Fee is still $99.95 per month for a futures account (information on the website)

If you happen to be a Veteran of the Armed Forces they waive that fee. Im not sure how long they have had this promo around but I wished I had found it sooner.

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  #6 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
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jason284454 View Post
If you happen to be a Veteran of the Armed Forces they waive that fee. Im not sure how long they have had this promo around but I wished I had found it sooner.

That's big news TS users, it is one of the better platforms for automated trading and their charts are probably the best available. Account fee will be waived if you meet their minimums for one of their tradeable markets

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  #7 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
Broker: Tradestation, IB
Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
Thanks: 17 given, 11 received

For futures account,

No software fees
Free premium tools
Free real-time data


This is a game change, I am going to open an account with them soon. BTW, anyone know what is the difference between futures platform and futures + platform?

Futures+ Platform (for futures options trades)

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  #8 (permalink)
 hobbys11 
eindhoven, the Netherlands
 
Experience: Intermediate
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ericgong View Post
For futures account,

No software fees
Free premium tools
Free real-time data


This is a game change, I am going to open an account with them soon. BTW, anyone know what is the difference between futures platform and futures + platform?

Futures+ Platform (for futures options trades)

no game change, still 99,95 montly account service fee of minimum activity required (the don't call it software fee anymore but still the same)

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  #9 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
Broker: Tradestation, IB
Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
Thanks: 17 given, 11 received


hobbys11 View Post
no game change, still 99,95 montly account service fee of minimum activity required (the don't call it software fee anymore but still the same)


There is no 99.95 monthly account fee. I cannot find it any where on their website.

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  #10 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
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I'll call my TradeStation guy on Monday and get the details straight

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  #11 (permalink)
 amoeba 
Sydney, NSW, Australia
 
Experience: Intermediate
Platform: Sierra Chart, Python, C#
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This was my correspondence with one of their reps;


Just reading through that application agreement, on page 12 there is a monthly minimum activity requirement and/or a 99.95 cost, is that still in effect?

Quoting 
That fee no longer applies to "per trade" equities or "single tier" futures accounts.


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  #12 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
Broker: Tradestation, IB
Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
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amoeba View Post
This was my correspondence with one of their reps;


Just reading through that application agreement, on page 12 there is a monthly minimum activity requirement and/or a 99.95 cost, is that still in effect?

That is my understanding too, that the 99.95/month fee is not applicable to the 1.5/contract/side futures account.

Here is what I found:


Pricing Disclosure
An annual fee of $50 will apply to all Single Tier $1.50 per contract, per side futures accounts that fail to maintain an average end-of-month equity balance of at least $2,000 or place at least five (5) trades in the preceding 12 months. No overnight fee will apply to futures accounts on the single-tier pricing plan.

Single tier accounts opened on or after August 1, 2017, or previously established futures account holders who elect to switch commission plans, will receive TradeStation, RadarScreen®, OptionStation Pro®, Portfolio Maestro®, foreign exchange (forex) and Reuters Fundamental data and Benzinga news free of charge. Qualified non-professional subscribers will also receive CME, CBOT, COMEX and NYMEX real-time Globex and E-mini Level 1 and Market Depth data free of charge. If you currently have opened, or intend to open: (1) an equities account under per-share, unbundled, different terms or promotions, or any other plan prior to 3/3/17; or (2) a futures account under any other plan except the single tier $1.50 per contract plan, per side, a monthly $99.95 account service fee will apply to accounts that fail to maintain an end-of-month equity balance of at least $100,000, trade at least 5,000 shares or trade at least 50 options contracts or 10 round-turn futures or futures options contracts in the preceding month.

Tiered future commission plan is primarily designed for use by active individual, institutional and professional futures traders. A monthly $99.95 account service fee will apply to accounts that fail to maintain an end-of-month equity balance of at least $100,000, or trade 10 round-turn futures or futures options contracts in the preceding month. An overnight fee of $0.10 will be applied per net open futures contract on a per settlement date basis for futures accounts on the tiered pricing plan.



https://www.tradestation.com:443/pricing/futures-pricing-disclosures/


Tradestation really changed a lot in this few months if this is true.

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  #13 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
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Looks right, not sure if I should switch my account since I have an existing account on hold I stopped using a while back

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  #14 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
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Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
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planetmoto View Post
Looks right, not sure if I should switch my account since I have an existing account on hold I stopped using a while back

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I will open a new account with them shortly. I think it is pretty good now as you get free data (only level 1) with market depth (now becomes free, the data package #1 are free but the explanation underneath is misleading).

Prices available to non-professional single tier futures accounts on the published $1.50 per contract plan, per side. Other non-professional commission plans are subject to the following monthly real-time market data fees: Globex Value Bundle $20.00/month, CBOT Data Package #1 $5.00/month, CBOT Data Package #2 $6.00/month, CME Data Package #1 $5.00/month, COMEX Data Package #1 $5.00/month, COMEX Data Package #2 $6.00/month, NYMEX Data Package #1 $5.00/month, NYMEX Data Package #2 $6.00/month.


BTW, do you know if I can trade Forex in the futures account?

Thanks

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 kevinkdog   is a Vendor
 
 
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ericgong View Post
I will open a new account with them shortly. I think it is pretty good now as you get free data (only level 1) with market depth (now becomes free, the data package #1 are free but the explanation underneath is misleading).

Prices available to non-professional single tier futures accounts on the published $1.50 per contract plan, per side. Other non-professional commission plans are subject to the following monthly real-time market data fees: Globex Value Bundle $20.00/month, CBOT Data Package #1 $5.00/month, CBOT Data Package #2 $6.00/month, CME Data Package #1 $5.00/month, COMEX Data Package #1 $5.00/month, COMEX Data Package #2 $6.00/month, NYMEX Data Package #1 $5.00/month, NYMEX Data Package #2 $6.00/month.


BTW, do you know if I can trade Forex in the futures account?

Thanks

Tradestation does not offer Forex trading anymore. Also, if you are in Ottawa, you should be able to open account. Canadians not in Ontario cannot...

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  #16 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
Broker: Tradestation, IB
Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
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If I fund my futures account in CAD dollar, will it be converted to USD? if not, when I trade, will the gain or loss remain in USD like when I trade in IB?

Thanks,

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  #17 (permalink)
drm7
Virginia
 
 
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ericgong View Post
If I fund my futures account in CAD dollar, will it be converted to USD? if not, when I trade, will the gain or loss remain in USD like when I trade in IB?

Thanks,

I can't speak directly for Tradestation, but when I traded non-USD denominated futures at Interactive Brokers (Hong Kong Index), my funds were converted to HKD, and stayed in HKD until I converted it back to USD.

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  #18 (permalink)
drm7
Virginia
 
 
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drm7 View Post
I can't speak directly for Tradestation, but when I traded non-USD denominated futures at Interactive Brokers (Hong Kong Index), my funds were converted to HKD, and stayed in HKD until I converted it back to USD.

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Oops! I guess I should read your entire question. I see that you are already an IB customer.

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  #19 (permalink)
 davedog 
columbia, sc
 
Experience: Beginner
Platform: tradestation
Trading: futures
 
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looks like platform and data fees have gone away, but per round trip fees are higher. For the ES it would be $1.50 + 1.18

+ 0.01 per side or $5.38 round trip. For CL $1.50 + 1.50 + 0.01 per side or $6.02 roundtrip.

Is this correct?

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  #20 (permalink)
Robot
Dubai, United Arab Emirates
 
 
Posts: 23 since Mar 2017
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iq200 View Post
I thought I'd bring it to attention of people on this site that I got an email today saying Tradestation will no longer be charging software fees for brokerage accounts. This is a game changer but I suspect it also has to do with the fact that people have been leaving Tradestation.

Hi. I don't think there is an official data on customers leaving or entering Tradestation! If you have, please share it with us bcoz I'm a tradestation customer and I'm enjoying their service till now. There are very few "technical" issues about their NEW LOOK platform and they are keep updating, solving issues and developing it to provide better service for reliable customers.
Looking for others feedback, please?
Best wishes
https://futures.io/images/smilies/ammo/crazy_pilot.gif

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  #21 (permalink)
 maddie 
Philadelphia, pennsylvania
 
Experience: Beginner
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Under the new promotion data for level1 Nynex/Globex/Comex are free as long as you maintain a $2000 balance or place 5 trades a year or you get charged a $50 annual inactivity fee.

i was looking into account also..above is from account rep

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  #22 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
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maddie View Post
Under the new promotion data for level1 Nynex/Globex/Comex are free as long as you maintain a $2000 balance or place 5 trades a year or you get charged a $50 annual inactivity fee.

i was looking into account also..above is from account rep

Just curious, How long does this free data stay? will it be grandfather or if they change them later, will we be charged for data fee or other whatever account service fee?

I emailed them but no one reply me yet.

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  #23 (permalink)
Robot
Dubai, United Arab Emirates
 
 
Posts: 23 since Mar 2017
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ericgong View Post
Just curious, How long does this free data stay? will it be grandfather or if they change them later, will we be charged for data fee or other whatever account service fee?

I emailed them but no one reply me yet.

Hi. They are doing business. They made the offer to make you; as a business partner/ customer; satisfied and stay with them. If they are not benefiting from the customer, why they would "love" to keep him!!
If the customer didn't like their offer at any point, he's free to leave them for someone else!
Multicharts is also one of my favorite platform. I love it. However, you need to "synchronize" their platform with your brokerage platform/ system. Otherwise, you'll need to pay for the live data when their offer expired (Assuming you have live data offer)!!

If you need a platform just to learn, then you don't need a live data! More options are available for EOD End Of Day Data.

Good luck.

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  #24 (permalink)
 hobbys11 
eindhoven, the Netherlands
 
Experience: Intermediate
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ericgong View Post
Just curious, How long does this free data stay? will it be grandfather or if they change them later, will we be charged for data fee or other whatever account service fee?

I emailed them but no one reply me yet.

have you got an answer?

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  #25 (permalink)
 ericgong 
Ottawa
 
Experience: Intermediate
Platform: Tradestation, TWS
Broker: Tradestation, IB
Trading: MES, MNQ, RTY, etc
 
Posts: 23 since Oct 2016
Thanks: 17 given, 11 received


hobbys11 View Post
have you got an answer?

Free as long as account open.

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  #26 (permalink)
 Skidboot 
Houston, TX
 
 
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ericgong View Post
There is no 99.95 monthly account fee. I cannot find it any where on their website.

https://www.tradestation.com:443/pricing/other-rates-and-fees/


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  #27 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
Trading: forex
 
Posts: 103 since Apr 2013
Thanks: 49 given, 76 received



Okay so they have two tiers and you can switch back and forth I recommend people don't free platform and see if it meets your needs with what's included account services is happy to walk you through the difference of sticking to the old plans per share or switching to the new free platform. Either way it's TS taking a direct shot at IB, TOS and Ninja to steal back old clients or bring new ones on board. Win for for all of us users, imo TS has the best data and charting and automated strategy testing in the industry can't go wrong my other platforms are Sierra through InfinityAT and TOS now for options I'm testing TastyWorks, the creators of TOS new brokerage and platform

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  #28 (permalink)
 icog 
Sofia Bulgaria
 
Experience: Intermediate
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Broker: TradeStation
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Posts: 194 since Oct 2016
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Hi,
I started the account opening procedure, but there is something in their agreement that is really annoying for me:

(5) The funds you deposit with a futures commission merchant are not held by the futures commission merchant in a separate account for your individual benefit. Futures commission merchants commingle the funds received from customers in one or more accounts and you may be exposed to losses incurred by other customers if the futures commission merchant does not have sufficient capital to cover such other customers’ trading losses.

Is it the same with all brokers? How does it come that i will be responsible for somebody else's loses?

As for the fees - the offer is still available, you pay nothing if you trade more then 10 contracts monthly. Software, data (even level2) is free of charge.

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  #29 (permalink)
 iq200 
Surrey, UK
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Broker: Kinetick, InteractiveBrokers
Trading: Equities, Futures
 
Posts: 304 since Jun 2010
Thanks: 117 given, 194 received

Equities capital held by a brokerage or by its banks is protected by law up to a limit - I think 50k. Futures capital as I understand is not as futures are considered 100% speculative. I believe this is the same for most if not all futures brokers. There might be minor changes in the way your capital is treated/held from broker to broker but potentially it is at risk at any broker. You just need to do your research and make sure you sign up with a reputable broker.


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  #30 (permalink)
Robot
Dubai, United Arab Emirates
 
 
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Hello. The clause mentioned is part of CFTC requirements and is not by Tradestation "sole" requirement but you'll find it also by other brokers too.
This is "cut and past" from CFTC to be acknowledge by all members. In case you have doubts about Tradestation compliance, please contact them and if you are not convinced with their response, you may also contact CFTC on the same regard. Please keep all members updated with your case.

(((The Commission adopted Sec. Sec. 1.20 through 1.30, and Sec. 1.32, to implement section 4d(a)(2) of the Act, and adopted part 22 to implement section 4d(f) of the Act. The purpose of these regulations is to safeguard funds deposited by futures customers and Cleared Swaps Customers, respectively.

Regulation 1.20 requires each FCM and DCO to separately account for and to segregate from its own proprietary funds all money, securities, or other property deposited by futures customers for trading on designated contract markets. In addition, all futures customer funds must be separately accounted for, and may not be commingled with the money, securities or property of an FCM or of any other person, or be used to secure or guarantee the trades, contracts or commodity options, or to secure or extend the credit, of any person other than the one for whom the same are held. Regulation 1.20 also provides that an FCM or DCO may deposit futures customer funds only with a bank or trust company, and for FCMs only, a DCO or another FCM. The funds must be deposited under an account name that clearly identifies the funds as belonging to the futures customers of the FCM or DCO and further shows that the funds are segregated as required by section 4d(a)(2) of the Act and Commission regulations. FCMs and DCOs also are required to obtain a written acknowledgment from a depository stating that the depository was informed that the funds deposited are customer funds being held in accordance with the Act.

FCMs and DCOs also are restricted in their use of futures customer funds. Regulation 1.22 prohibits an FCM from using, or permitting the use of, the

[[Page 68508]]

futures customer funds of one futures customer to purchase, margin, or settle the trades, contracts, or commodity options of, or to secure or extend the credit of, any person other than such futures customer. In addition, Sec. 1.22 provides that futures customer funds may not be used to carry trades or positions of the same futures customer other than in commodities or commodity options traded through the facilities of a contract market.
Under Sec. 1.20, an FCM or DCO may, however, for convenience, commingle and hold funds deposited as margin by multiple futures customers in the same account or accounts with one of the recognized depositories. An FCM or DCO also may invest futures customer funds in certain permitted investments under Sec. 1.25.)))

Ref : 78 FR 68506


icog View Post
Hi,
I started the account opening procedure, but there is something in their agreement that is really annoying for me:

(5) The funds you deposit with a futures commission merchant are not held by the futures commission merchant in a separate account for your individual benefit. Futures commission merchants commingle the funds received from customers in one or more accounts and you may be exposed to losses incurred by other customers if the futures commission merchant does not have sufficient capital to cover such other customers’ trading losses.

Is it the same with all brokers? How does it come that i will be responsible for somebody else's loses?

As for the fees - the offer is still available, you pay nothing if you trade more then 10 contracts monthly. Software, data (even level2) is free of charge.


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  #31 (permalink)
 alucko33 
New York, NY US
 
Experience: Beginner
Platform: Ninje Trader, Tradestation
Trading: oil
 
Posts: 11 since May 2013
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I use Tradestation and there is no platform fee. Absolutely none, as long as i do 1 or 2 round trip trades/week. But I do about 15 or more/week. With Tradestation, I like the luxury of pulling stocks charts like google, ibm, microsoft and goldman sachs that dictate which direction my emini trade to go.

And if you think Tradestation sucks, try NT 7 or 8 for 1 day and experience the nagging and the freezes..

Although a bit user unfriendly, i think sierra charts with order flow and volume profile right out of the box is more stable and better than all of them. (just my opinon)

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  #32 (permalink)
 mrphr 
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alucko33 View Post
I use Tradestation and there is no platform fee. Absolutely none, as long as i do 1 or 2 round trip trades/week. But I do about 15 or more/week. With Tradestation, I like the luxury of pulling stocks charts like google, ibm, microsoft and goldman sachs that dictate which direction my emini trade to go.

And if you think Tradestation sucks, try NT 7 or 8 for 1 day and experience the nagging and the freezes..

Although a bit user unfriendly, i think sierra charts with order flow and volume profile right out of the box is more stable and better than all of them. (just my opinon)

Yeah if your account is not Single Tier $1.50 per contract then to waive platform fees you need to trade 10 round-turn futures or 5000 shares traded etc... I rarely paid platform fees but have changed to Single Tier $1.50 as of today.

Exactly I had I lot of bad experiences and problems with NT7, TS is far from being perfect but IMO it is much better than NT. [Maybe NT make more sense this days with NT 8 Brokerage but I will never go back to it].

I also agree in respect of SC, at the moment I am using MC for execution as I have a lifetime license, but I am thinking of switching to SC as I really like it and I am also waiting for them to add support to other OS such as Linux hopefully.

And TS is trying to catch up now they changed their web site, their logo, their fees etc... And they are working on TS 10 so maybe it will be more stable and they will include volume and market profile and order flow and some other tools.

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  #33 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
Platform: Tradestation/ Interactive
Broker: Interactive Brokers/ Tradestation
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Tradestation international has partnered up with interactive brokers UK.

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  #34 (permalink)
 mrphr 
London
 
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Leatherneck View Post
Tradestation international has partnered up with interactive brokers UK.

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@Leatherneck are you using TS with IB, if so how does it work? Because as far as I know you can not use TS data? So what is the point of using IB on TS, as IB is well known for many data issues and they do not offer access to data the same way TS does.

On the top of that I do not think you can trade all the financials derivatives such as CFDs with TS/IB.

Please can you or anybody using TS/IB share your experiences and correct me if I am wrong?

Also there is another thread here about that as well:

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  #35 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
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It's not available for us or Japanese citizens

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  #36 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
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TradeStation International and Interactive Brokers UK Create Global Trading Account

By*Donna Fuscaldo*| January 17, 2018 — 1:36 PM EST

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TradeStation*International, the London-based unit of TradeStation Group, announced a partnership with*Interactive Brokers*UK, a unit of Interactive Brokers Group, to roll out the TradeStation Global platform, which enables brokerage customers to trade in markets around the world.

Under terms of the deal, which were disclosed in a press release, TradeStation Global will combine TradeStation's trading analysis platform – which includes market monitoring, charting*and ranking tools –*with Interactive Brokers'*multicurrency global account, execution, clearing and settlement services. Qualified clients will be able to access market data and trade stocks, exchange-traded funds, futures (including bitcoin futures where available), forex, CFDs and bonds in more than 100 markets around the globe, including Europe, Scandinavia, the U.S. and Asia-Pacific. Customers of TradeStation Global will be able to fund their accounts in different currencies and trade assets in multiple currencies – all from one account.

[Check out Investopedia's*Ally Invest review*to learn more about this low-cost broker with powerful charting tools.]

"We are excited about the opportunities our clients will now have to trade global markets using the cutting-edge power of the TradeStation platform as connected to Interactive Brokers'*global execution capabilities," Rustam Lam, CEO of TradeStation International, said in prepared remarks. "We believe this will be a great combination for eligible active traders and institutions looking to make the most of their trading ideas and opportunities on a global scale."

The partnership with Interactive Brokers UK isn't the only improvement*TradeStation has been making in recent weeks to help customers with their trading needs. In December, the company updated its mobile app for iOS, enabling investors to place trades even quicker. According to a description posted by TradeStation, with the upgrade, customers are able to send and manage orders through its updated Matrix tool and save time by creating customized order defaults for each trade they make. There's also quicker order entry thanks to the ability to bypass the order confirmation dialog as well as support for Apple's iPhone X.



Read more:*TradeStation International and Interactive Brokers UK Create Global Trading Account | Investopedia*https://www.investopedia.com/news/tradestation-international-and-interactive-brokers-uk-team-create-global-trading-account/
Follow us:*Investopedia on Facebook

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  #37 (permalink)
 mrphr 
London
 
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@Leatherneck thanks for the info, I see well I am neither American or Japanese.

I am going to contact TS and IB to know the exact details on how this works.

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  #38 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
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I'm a us citizen. I have a account with both. I would much rather have the repackaged white label deal.

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  #39 (permalink)
 platon 
Sweden
 
Experience: Intermediate
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Yes now you can intergrate IB TWS with Tradestation. But it is only for residents outside US and Japan.
Market data is from IB not TS.
https://www.tradestation-international.com/global/
Video (german speaking)

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  #40 (permalink)
 mrphr 
London
 
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platon View Post
Yes now you can intergrate IB TWS with Tradestation. But it is only for residents outside US and Japan.
Market data is from IB not TS.
https://www.tradestation-international.com/global/
Video (german speaking)

If the market data is really from IB and not from TS, well then good luck with that!

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  #41 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
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If you are using the value package then yes. But if you subscribe to the exchange directly then it's just as good if not better. Just my perspective

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  #42 (permalink)
 hobbys11 
eindhoven, the Netherlands
 
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mrphr View Post
If the market data is really from IB and not from TS, well then good luck with that!

If so, why using TS anyway? You are better off using IB and Multicharts.

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  #43 (permalink)
ult1m0
Frankfurt, Germany
 
 
Posts: 5 since Aug 2018
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Hey there,

I'm new to futures except several free trial accounts.
Now it's time for the next step and open a live account. Therefore I try to hold the costs low and the TradeStation offer seems perfect for me and my few roundturns.
My approach is in the chart via Volume Profile (daily and range) and Footprint(delta).

Can someone answer my open questions before I deposit money?

- TradeStation is providing their own Data feed.

On Optimusfutures.com there is:
"TradeStation's superior data accuracy is maintained by using automated filtering mechanisms to catch three primary sources - as a first layer of defense, erroneous data is caught in real-time by our automated filtering mechanisms. As a second layer of defense, data is corrected in real-time by the financial exchanges themselves. And as a third layer of defense, data is manually maintained in-house by using an expert team of market data professionals.

Does this mean it's IB-like filtered? Thus not useful?

- The Real-Time Data is free for non-professionals.
But what is "Real-Time Floor-Traded Level 1 Data"? This costs e.g. for the CME Globex additionally 125$ and is only delayed in the free package.

greetings!

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  #44 (permalink)
 xplorer 
Site Moderator
London UK
 
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Broker: S5
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ult1m0 View Post
Hey there,

I'm new to futures except several free trial accounts.
Now it's time for the next step and open a live account. Therefore I try to hold the costs low and the TradeStation offer seems perfect for me and my few roundturns.
My approach is in the chart via Volume Profile (daily and range) and Footprint(delta).

Can someone answer my open questions before I deposit money?

- TradeStation is providing their own Data feed.

On Optimusfutures.com there is:
"TradeStation's superior data accuracy is maintained by using automated filtering mechanisms to catch three primary sources - as a first layer of defense, erroneous data is caught in real-time by our automated filtering mechanisms. As a second layer of defense, data is corrected in real-time by the financial exchanges themselves. And as a third layer of defense, data is manually maintained in-house by using an expert team of market data professionals.

Does this mean it's IB-like filtered? Thus not useful?

- The Real-Time Data is free for non-professionals.
But what is "Real-Time Floor-Traded Level 1 Data"? This costs e.g. for the CME Globex additionally 125$ and is only delayed in the free package.

greetings!

Hi ult1m0

@mattz is likely the best person to address your questions. He is probably going to pick this up in the next couple of days and provide you with an answer.

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  #45 (permalink)
ElectricSavant
Maricopa, AZ.
 
 
Posts: 24 since Sep 2018
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Please do not forget to report back to this thread. Thanks!


planetmoto View Post
I'll call my TradeStation guy on Monday and get the details straight

Sent using the futures.io mobile app


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  #46 (permalink)
 icog 
Sofia Bulgaria
 
Experience: Intermediate
Platform: TradeStation
Broker: TradeStation
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ult1m0 View Post
Hey there,

I'm new to futures except several free trial accounts.
Now it's time for the next step and open a live account. Therefore I try to hold the costs low and the TradeStation offer seems perfect for me and my few roundturns.
My approach is in the chart via Volume Profile (daily and range) and Footprint(delta).

Can someone answer my open questions before I deposit money?

- TradeStation is providing their own Data feed.

On Optimusfutures.com there is:
"TradeStation's superior data accuracy is maintained by using automated filtering mechanisms to catch three primary sources - as a first layer of defense, erroneous data is caught in real-time by our automated filtering mechanisms. As a second layer of defense, data is corrected in real-time by the financial exchanges themselves. And as a third layer of defense, data is manually maintained in-house by using an expert team of market data professionals.

Does this mean it's IB-like filtered? Thus not useful?

- The Real-Time Data is free for non-professionals.
But what is "Real-Time Floor-Traded Level 1 Data"? This costs e.g. for the CME Globex additionally 125$ and is only delayed in the free package.

greetings!

In the client side of the TS platform you have a option to receive all or just some of the price updates. I dont see difference in the data received when i change that option but i dont care about it as i am not one of these high frequency traders that rely on countless very precise indicators. For charting it works very good, with both time and volume based charts.

In the "CME value bundle" you will have for free level 1 and 2 data from the electronically traded contracts. The "Floor traded level 1 data" is the data from the pit. Hope i am right!

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  #47 (permalink)
 paps 
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
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Is a misnomer. Both ts n nt are amazing

However both have total different characteristics. With ts of course u have full mrkt view n amazing set of long development which u won't find in any retail platform. Who says u cannot to hft or quant work on ts....it's a different thing if someone says I need python etc for work...else there is enough quant and systematic work being done on ts. It's a different view of looking.

Fees r on both platforms negligible if one is Trading.

I use nt for deep dive of...ts for deep dive mrkt of...ts for any other work. For what it's worth my 2cs

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  #48 (permalink)
ult1m0
Frankfurt, Germany
 
 
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icog View Post
In the client side of the TS platform you have a option to receive all or just some of the price updates. I dont see difference in the data received when i change that option but i dont care about it as i am not one of these high frequency traders that rely on countless very precise indicators. For charting it works very good, with both time and volume based charts.

In the "CME value bundle" you will have for free level 1 and 2 data from the electronically traded contracts. The "Floor traded level 1 data" is the data from the pit. Hope i am right!

Thank you for your input.
I think it's very interesting that you, as a trader yourself, can impact the quality of your data.
What does it say when the ruler is on "high"?

I don't think the pit is meant by "floor-traded level 1 data", since in my unterstanding there is no mentionable pit trading in 2018 which would justify the price cost increase from 0$ to 125$.

@mattz : What is your point of view on the two questionable topics (data quality, real-time data packages)?

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  #49 (permalink)
 mattz   is a Vendor
 
 
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ult1m0 View Post
Thank you for your input.
I think it's very interesting that you, as a trader yourself, can impact the quality of your data.
What does it say when the ruler is on "high"?

I don't think the pit is meant by "floor-traded level 1 data", since in my unterstanding there is no mentionable pit trading in 2018 which would justify the price cost increase from 0$ to 125$.

@mattz : What is your point of view on the two questionable topics (data quality, real-time data packages)?


First, you need to look for stability. That is the priority. You are looking for a data feed with a historical data that has proven to be up and running during pick hours.

Second, you are looking for data that provides you with the information you need. Some traders need Top of Book, and that is enough, while some require full depth of the DOM to get more visibility. If you are using a specific platform for execution, you MUST (in our opinion) receive real-time data. Real-time data allows you to see not only quotes but P&L in real time of each position and your equity. This is important for risk management.

As far as the accuracy of your data to the tick, well that depends on whether you use this data or not. Over the years I have learned to respect those who need to know precise price levels, backfill ticks, etc. If someone uses this data to build a better method, then they should have uncompromising standards. Those who do not need it, well...they just do not need it. They make decisions based on filtered market data, and the frequency of their trading is low along with longer holding periods where the data quality is not a priority. For them "close enough" is "good enough".

Finally, I respect the fact that data, external historical data along with the different exchnages costs have additional costs. But, you should choose the variables you need for your method and not try to build a methodology backward. In other words, select a process you have the technical skills to utilize and then see what data quality and information you need.

I hope this helps.

Matt Z
Optimus Futures

There is a substantial risk of loss inf utures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #50 (permalink)
ult1m0
Frankfurt, Germany
 
 
Posts: 5 since Aug 2018
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Thank you!
Since this didn't clear up my doupts on the TS offer, i'm not buying on that aggressive selling

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  #51 (permalink)
 mattz   is a Vendor
 
 
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ult1m0 View Post
Thank you!
Since this didn't clear up my doupts on the TS offer, i'm not buying on that aggressive selling

We work with TS as well, and we have members use them. I am not sure who has been "aggressive" with you, but we would help if you want us to. PM me if necessary.

Kind regards,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #52 (permalink)
ult1m0
Frankfurt, Germany
 
 
Posts: 5 since Aug 2018
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No one was aggressive with me. This was probably false phrasing by me.
I refered to "No Software Fees · Free Market Data · Free Premium Tools" on their website with that.

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  #53 (permalink)
 icog 
Sofia Bulgaria
 
Experience: Intermediate
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ult1m0 View Post
Thank you for your input.
I think it's very interesting that you, as a trader yourself, can impact the quality of your data.
What does it say when the ruler is on "high"?

That is not "agresive selling". Most of the platforms available require payment for the platform itself, then for the datafeed. Those are monthly expenses that may put additional preasure on any young trader. With TS you can add money to your account and trade whenever you want. They will be there, waiting for you, without any additional expenses. Its up to you.

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  #54 (permalink)
ult1m0
Frankfurt, Germany
 
 
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As it seems, those additional costs are required to have the exact unfiltered data.
In my case this is mandatory to stick to the trading plan of logical causalities. Thus the psychological pressure 'to trade because of expenditures' is equalized.

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  #55 (permalink)
 icog 
Sofia Bulgaria
 
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Search the forum for that subject. There are at least 2 threads.

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  #56 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
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ult1m0 View Post
As it seems, those additional costs are required to have the exact unfiltered data.

Just so we are all on the same, I believe that the "filtered" data is actually "coalesced" data. What this means is that if there are fifty single lot trades at the same price within microseconds, it gets reported as one fifty lot trade and not fifty one lot trades. Assuming that is the case, I'd be surprised if this makes a difference to anybody using TS. Note that this is a feature of the CME data feed and not a TS quirk. Also this is not the same as some "other" equity brokererage firms whose filtered feed may not include every trade.

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  #57 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
Platform: Tradestation/ Interactive
Broker: Interactive Brokers/ Tradestation
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Posts: 59 since Jan 2017
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I'm not trying to sound stupid but do you guys think tradestation is hurting or might be slowly going out of business with all the drastic changes in the last year or two.

Sent using the futures.io mobile app

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  #58 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
Platform: Tradestation/ Interactive
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Posts: 59 since Jan 2017
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I'm with IB and tradestation, but believe it or not I prefer TS. But I feel like the ship maybe sinking. Is it safe to go all in with TS

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  #59 (permalink)
 kevinkdog   is a Vendor
 
 
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Leatherneck View Post
I'm with IB and tradestation, but believe it or not I prefer TS. But I feel like the ship maybe sinking. Is it safe to go all in with TS

Sent using the futures.io mobile app


Why do you think the ship is sinking? My sense is this is another promotion idea. They have done quite a few over the years...

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  #60 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
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Leatherneck View Post
I'm not trying to sound stupid but do you guys think tradestation is hurting or might be slowly going out of business with all the drastic changes in the last year or two.


Leatherneck View Post
I'm with IB and tradestation, but believe it or not I prefer TS. But I feel like the ship maybe sinking. Is it safe to go all in with TS

In case you don't know I'm a career full time trader and in my 'trading business' I use TT. I clarify that to make it clear where I am coming from. I am also though trying my hand at systematic trading and have a Tradestation Account. EasyLanguage is an amazingly easy thing to program in. Tradestation is an amazingly easy platform to use. Personally though I think it's very buggy with some very questionable issues and I would not be prepared to trade anything like the volume or risk that I put through TT through it. Having said that, from the evaluation I have done, it's the best option out there for systematic trading. So as much as I would love to change a long list of things about Tradestation I'm curious why do you think it's a sinking ship? (Should probably have checked CFTC Broker Segregated Funds Reports before asking that - but it's late)

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  #61 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
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kevinkdog View Post
Why do you think the ship is sinking? My sense is this is another promotion idea. They have done quite a few over the years...

Kevin you type quicker than me!

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  #62 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 4,040 since Dec 2013
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Or maybe I just waffled too much!

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  #63 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 4,040 since Dec 2013
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kevinkdog View Post
Why do you think the ship is sinking? My sense is this is another promotion idea. They have done quite a few over the years...

Oh and by the way, this guy, is a 10+ year full time trader whose primary platform is TS. Just in case that's relevant to conversation.

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  #64 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 4,040 since Dec 2013
Thanks: 3,343 given, 7,983 received

Maybe I should stop talking and have another drink!
(but not tea!)

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  #65 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
Platform: Tradestation/ Interactive
Broker: Interactive Brokers/ Tradestation
Trading: Emini ES
 
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Posts: 59 since Jan 2017
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I love the platform. To me the promotions seem like it might be out of desperation that's all. I can't see how someone can deposit 500 bucks and have access to something like that without paying anything.

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  #66 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
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I just needed to hear from some ts vets that's all

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  #67 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 2,986 since Jul 2012
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Leatherneck View Post
I just needed to hear from some ts vets that's all

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But at the same time, having a backup plan for both the brokerage part and the platform part is always a prudent thing...

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  #68 (permalink)
 icog 
Sofia Bulgaria
 
Experience: Intermediate
Platform: TradeStation
Broker: TradeStation
Trading: Everything
 
Posts: 194 since Oct 2016
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Leatherneck View Post
I love the platform. To me the promotions seem like it might be out of desperation that's all. I can't see how someone can deposit 500 bucks and have access to something like that without paying anything.

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500 ot 5000?

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  #69 (permalink)
 Leatherneck 
Minneapolis Minnesota
 
Experience: Beginner
Platform: Tradestation/ Interactive
Broker: Interactive Brokers/ Tradestation
Trading: Emini ES
 
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Posts: 59 since Jan 2017
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500 for equities, 5000 for futures accounts

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  #70 (permalink)
beakercgn
Frankfurt, Germany
 
 
Posts: 3 since Nov 2019
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Is anyone form outside the US using the tradestation international offer to use tradestation with an interactive brokers (uk) account? I´m still new to the futures game and working my way through Kevins book, but therefore i need data and a plattform feasible for backtesting. (Already been trading stocks and cfd for some time on my IB account.)
My goal is to created automated strategies trading Index and Commodity Futures (minis and micros first).
I would like to know if there are any problems in using the historical data IB provides and if it is enough data that they offer. I would like to use 15 Min in the beginning to get out of the market over night (to keep the risk small).

would love to hear if anybody has any experience on this setup or remarks!

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  #71 (permalink)
 andby 
Norwich, UK
 
Experience: Intermediate
Platform: Multiple:research&executi
Broker: Started with Stage5/OEC ... multiple
Trading: Anything found profitable goes ...
 
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iq200 View Post
I thought I'd bring it to attention of people on this site that I got an email today saying Tradestation will no longer be charging software fees for brokerage accounts. This is a game changer but I suspect it also has to do with the fact that people have been leaving Tradestation.

No wonder ... their data/broker connection quality/stability dropped so much in last 3 years.

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beakercgn
Frankfurt, Germany
 
 
Posts: 3 since Nov 2019
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@andby are you getting your market data from tradestation or interactive brokers?
Asking because the only option for non-US citizrens seems to be the tradestation international Account with interactive brokers...or am i missing here sonething

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  #73 (permalink)
Tom1978
Houston Texas
 
 
Posts: 14 since Dec 2019
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beakercgn View Post
@andby are you getting your market data from tradestation or interactive brokers?
Asking because the only option for non-US citizrens seems to be the tradestation international Account with interactive brokers...or am i missing here sonething

Hi / Gutentag,

A trader friend of mine lives in Europe.
He started using Tradestation 5 years ago. In the beginning he paid 99.95 USD per month for the platform.
Now he only pays about 20 USD per month for the real time data from TS.

Tom

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