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TradeStation for trading forex?

  • #1
  • First Post: Edited Jan 28, 2013 9:36pm Nov 19, 2010 11:33am | Edited Jan 28, 2013 9:36pm
No commissions, no platform fees, with new chart-based trading.

Does not offer MetaTrader 4,
http://www.forexfactory.com/showthre...19#post5514219

Non-Dealing Desk and Straight-Through-Processing (STP),
http://i.imgur.com/on9YT.png
  • #2
  • Nov 19, 2010 6:07pm Nov 19, 2010 6:07pm
Quoting bstay2
Does anyone have a live forex account with TradeStation? I have been using the forex simulator quotes/charts since I already had an equities/options account with them. But I have been hearing bad things about their partnership with Gain Capital (as clearing and counterparty). Does anyone still use TradeStation for live trading?
Hi bstay2,

Platform its self is great! but there's monthly fee to access it, depending on the broker you use and their requirement it could be anything from $100 to $250 a month, so do some homework on that.

Link below is a thread with more information.

http://www.elitetrader.com/vb/showth...6&pagenumber=1

good trading......

>Apoca<
  • #3
  • Nov 19, 2010 6:19pm Nov 19, 2010 6:19pm
There is an alternative to Tradestation.

It is called multicharts http://www.multicharts.com/ I am using this software everyday for charting and it's bettter than TS. Its easylanguage is 99.99% compatible with TS's easylanguage. Supported forex brokers are MBT, FXCM, Interactive Brokers and Dukascopy (through FIX API).

It has some advantages over TS, eg.:
a) it uses multicores and hyperthreading for optimization (it was originally intended to be a platform solely for algo traders)
b) a lot better and more precise trendlines,
c) more chart types and resolutions.

It has also some disadvantages over TS:
a) no manual orders (this feature is to be however added in two weeks time),
b) worse multi-monitor support

I advise you to check a 30-day trial.
  • #4
  • Nov 19, 2010 6:23pm Nov 19, 2010 6:23pm
Quoting Karl_Vosp
There is an alternative to Tradestation.

It is called multicharts http://www.multicharts.com/ I am using this software everyday for charting and it's bettter than TS. Its easylanguage is 99.99% compatible with TS's easylanguage. Supported forex brokers are MBT, FXCM, Interactive Brokers and Dukascopy (through FIX API).

It has some advantages over TS, eg. it uses multicores and hyperthreading for optimization (it was originally intended to be a platform solely for algo traders). It has also some disadvantages over TS: no manual...
Hi Karl,

Thanks for posting that. I use ninja trader at the moment but I have never been 100% happy with them, can't complain to much as I use the free version. I am looking at alternatives.

I will take a look!

cheers,

** Just looked,

seems the lifetime is the best option in terms of cost.............. another one out there, that's worth a look is amibroker
  • #5
  • Nov 19, 2010 6:36pm Nov 19, 2010 6:36pm
There is going to be a new MC beta released soon (with DOM). I suggest you download a demo version once it is released.

Since you use ninja here is a video that might be of interest to you: comparison between ninja and MC http://vimeo.com/10369963
  • #6
  • Nov 19, 2010 7:02pm Nov 19, 2010 7:02pm
Quoting &gt;Apocalypto&lt;
Hi bstay2,
Platform its self is great! but there's monthly fee to access it, depending on the broker you use and their requirement it could be anything from $100 to $250 a month, so do some homework on that.
Link below is a thread with more information.
http://www.elitetrader.com/vb/showth...6&pagenumber=1
good trading......
>Apoca<
Things have changed alot since 2006 and now the $99.95/mth platform fee is waived if I met the volume criteria (I have equities account with them). I'm wondering if forex traders also use them for their cash account (not just simulator mode), http://www.tradestation.com/popups/fees/Forex8-3.html
  • #7
  • Nov 20, 2010 2:38am Nov 20, 2010 2:38am
Quoting bstay2
Things have changed alot since 2006 and now the $99.95/mth platform fee is waived if I met the volume criteria (I have equities account with them). I'm wondering if forex traders also use them for their cash account (not just simulator mode), http://www.tradestation.com/popups/fees/Forex8-3.html
lol i see your point!!!! sorry my bad on not checking the date on that thread.

good to see its gotten cheaper as that's what kept me off em.
  • #8
  • Jan 10, 2011 11:25pm Jan 10, 2011 11:25pm
the new TradeStation Forex Inc will start early Feb 2011. no longer clearing through Gain Capital.
http://www.tradestation.com/html_mai...forex2011.html
  • #9
  • Jan 18, 2011 6:10pm Jan 18, 2011 6:10pm
Hi all..

I receive an a e-mail telling after february 4, 2011 FXCM will charged $50 in inactive account..

......
  • #10
  • Jan 18, 2011 11:31pm Jan 18, 2011 11:31pm
Quoting bstay2
the new TradeStation Forex Inc will start early Feb 2011. no longer clearing through Gain Capital.
http://www.tradestation.com/html_mai...forex2011.html
This is welcome news. I was never comfortable with the Gain aspect of TradeStation.
  • #11
  • Jan 22, 2011 8:31pm Jan 22, 2011 8:31pm
Quoting Karl_Vosp
......

It has also some disadvantages over TS:
a) no manual orders (this feature is to be however added in two weeks time),
b) worse multi-monitor support

I advise you to check a 30-day trial.
I thought that with MulitCharts, you can open up separate windows (workstations), each with tabs and then just place the windows wherever you want.

Quoting bstay2
Things have changed alot since 2006 and now the $99.95/mth platform fee is waived if I met the volume criteria (I have equities account with them). I'm wondering if forex traders also use them for their cash account (not just simulator mode), http://www.tradestation.com/popups/fees/Forex8-3.html

It's been like that for a while now. I think for futures, it's 10 round-turn trades per statement cycle. Honestly, I'm surprised TradeStation is still in business. They were so slow to adapt a lot of charting features and even their list of available markets were limited for futures. Their forex spreads were not great. For the little bit of time I dealt with them, I was not impressed with customer service. I didn't see any advantage to being with them, other than maybe trading the minimum to keep their platform around to test strategies and get a free datafeed (they do have some of the largest historical datafeeds).

edit: here is a link to their commissions: http://www.tradestation.com/brokerage/commissions.shtm

MC must have really forced them to adapt. They run laps around tradestation 8. I know one guy who bought MC back when it was $99. He bought 10 licenses because he saw the potential. I bought one when it was $399.
Measure trends automatically with zero lag
  • #12
  • Jan 22, 2011 8:59pm Jan 22, 2011 8:59pm
Quoting ybfjax
MC must have really forced them to adapt. They run laps around tradestation 8. I know one guy who bought MC back when it was $99. He bought 10 licenses because he saw the potential. I bought one when it was $399.
If you run MultiCharts, then what forex broker do you use to place the orders? I'm more interested as it applies to spot forex. TradeStation is both charting software and broker (although Forex is a separate account number from equities or futures), and I can run OCO/OSO conditional orders directly with the account.
  • #13
  • Jan 23, 2011 1:34am Jan 23, 2011 1:34am
Quoting bstay2
If you run MultiCharts, then what forex broker do you use to place the orders? I'm more interested as it applies to spot forex. TradeStation is both charting software and broker (although Forex is a separate account number from equities or futures), and I can run OCO/OSO conditional orders directly with the account.
I don't run multicharts now for charting. I helped them test with OEC api (OpenECry). That was about 3 or 4 years ago. That was the last time I used it for trading. I looked at the platform again about a year ago as I was considering MBT or OEC for forex, and could simultaneously watch futures. But OEC requires a separate forex account. And they clear via Gain. Maybe that has changed, but as of about 6 months ago, it was still Gain.

It depends on the broker API. Typically, whatever is allowed on the proprietary platform should be allowed via API. And the API usually allows more options.

Brokers like MBT and OEC, which already have a futures background, will usually have OCO/OSO Market on close, and other more sophisicated "if,then" limit/market orders. If the broker does not support these natively, then MC could simulate these orders. Alternatively, you can program the simulation of these orders in the Expert Advisor automation script. Similar to how MT4 does not have trade on the chart functionality, but there is a company that programmed scripts that allowed one-click order placement, automatic TP/SL, OCO, etc. Although it is good to have the ability to place OCO orders natively with the broker API, there are reasons to hold these orders on the client side only.

I have NOT traded forex using MC as my charting package. I'm focused on automating via MT4, and then I may port the strategies over to MC at a later date.
Measure trends automatically with zero lag
  • #14
  • Jan 23, 2011 12:17pm Jan 23, 2011 12:17pm
Quoting ybfjax
I thought that with MulitCharts, you can open up separate windows (workstations), each with tabs and then just place the windows wherever you want.
In TS you can do much more as far as multi-monitor set-ups go.
  • #15
  • Jan 27, 2011 8:54am Jan 27, 2011 8:54am
Are there any rebate on the subscription fee for tradestation if somebody reach a certain volume?
  • #16
  • Jan 27, 2011 12:46pm Jan 27, 2011 12:46pm
The TradeStation document quoted several posts above says:

Quote
TradeStation Forex, Inc. will offer commission-free forex trading
...and this is going to allow odd-lot trading from 10K upwards (ie a Mini equivalent), with no commission (ie they make it from the spread I guess like most other 'retail spot FX' accounts).

This sounds like TS setting up themselves as making their own market rather than relying on Gain Capital to do it - anyone know if that's what's happening, and what's your opinion?

Max
  • #17
  • Jan 27, 2011 4:13pm Jan 27, 2011 4:13pm
Quoting Rfbfx
Are there any rebate on the subscription fee for tradestation if somebody reach a certain volume?
Yes, the platform fees are waived each month if you meet the volume criteria,
Accounts having the following trading activity or more in the preceding month:

  1. Futures: 10 round-turn futures or futures option contracts -or- 50 round-turn single stock
  2. Equities: 5,000 shares
  3. Equity & Index Options: 50 contracts
  4. Forex: 10 round-turn lots or 100 round-turn mini lots

  • #18
  • Jan 28, 2011 9:06pm Jan 28, 2011 9:06pm
Quoting maxr
The TradeStation document quoted several posts above says:
...and this is going to allow odd-lot trading from 10K upwards (ie a Mini equivalent), with no commission (ie they make it from the spread I guess like most other 'retail spot FX' accounts).
This sounds like TS setting up themselves as making their own market rather than relying on Gain Capital to do it - anyone know if that's what's happening, and what's your opinion?
Max
It's explained very clearly in that client message. Read that link again.
  • #19
  • Jan 29, 2011 1:43pm Jan 29, 2011 1:43pm
I really like Tradestation's charts. I'd just really like to be able to access them on my iPad. But they don't do Apple.

Will check out Multicharts.
  • #20
  • Feb 15, 2011 5:41pm Feb 15, 2011 5:41pm
moving customer accounts from Gain Capital to the new subsidiary TSF.
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