Luisa Rollenhagen is a writer and editor who lives in Berlin.
Online brokerages and self-directed trading platforms are increasingly popular with investors who want to avoid high fees and commissions. While “traditional” brokerages and financial advisors are still a go-to resource among traders who want white-glove service, self-directed trading makes holding and trading stocks way more accessible for the average person—especially since some traditional brokerages require very high account minimums. Several online brokers don’t require any at all.
Tradestation is one such online brokerage and trading platform. However, it’s not currently available in Canada.
What is Tradestation? and is it available in Canada?
Tradestation is an online trading platform and brokerage that allows access to all major U.S. exchanges and market centers. It also offers users plenty of options as to how and what they wish to trade: You can choose to trade stocks, options, ETFs, crypto, futures, mutual funds, and more. If you wish, you can also open a retirement account with Tradestation.
The platform offers two pricing plans, TS Go and TS Select, which both offer commission-free trading, although TS Select requires a $2,000 minimum deposit.Buy and sell thousands of stocks and funds with just a few taps, all commission-free. Get started with Wealthsimple Trade.
Tradestation also offers users several tools for maximum customization and usage, including a mobile app-based platform, simulated trading for novice traders who want to practice a bit before putting down a big chunk of cash, and a web API for tech-saavy users who want even more customization options by being able to program automated trades, back-test data, and analyze performance.
Tradestation actually used to be available in Canada, but unfortunately that’s not the case any longer and Tradestation is not accessible to Canadians.
Other commission-free trading platforms in Canada
The good news is that when it comes to low-fee, commission-free trading platforms, Canadians have a lot of great alternatives at their disposal. We might be a bit biased, but we think that Wealthsimple Trade is a great option for both novice and experienced traders looking for commission-free trading. Best of all, there’s no account minimum, no paperwork and you can choose to open a TFSA, RRSP, or a personal investment account. Get started with just a few taps in our mobile app.
Wealthsimple is anything but a fly-by-night startup; it’s received $265 million in investment from some of the world’s largest financial institutions in Canada and Europe. Our brokerage Canadian ShareOwner Investments Inc., which operates Wealthsimple Trade, is a member of the Canadian Investor Protection Fund (CIPF). CIPF is a program that insures all accounts up to one million dollars against member firms bankruptcy.
Wealthsimple Trade currently supports stocks and ETFs trading on the following exchanges:
Toronto Stock Exchange (TSX)
TSX Venture Exchange (TSXV)
New York Stock Exchange (NYSE)
Curious to check it out? Sign up for Wealthsimple Trade.
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