These days, the most well-know online brokers are built on the knowledge of algorithms and computer science. There is not a lot of room for humans anymore. Most money in the world is moved around and managed by computer software, that compiles and analyzes data from around the world much more quickly than any other group of traders or human minds could do.
TradeStation, a leading online broker, was founded by two Cuban brothers who caught the trading bug in their late teens. They started a futures trading account together and began to gather data for charts that they could use to test out strategies before employing them in the real world. They build their first database of strategies without formal knowledge of coding or computer science, so they designed their own proprietary language that is still in use today.
Aspiring brokers can use TradeStation today to get a taste of what day trading is really like. But the platform is really meant for sophisticated traders. Because veteran traders founded the company and designed the platform, the company holds itself out as a destination for expert traders. They allow expert traders to back-test strategies, using historical data that the company has built over their years in existence.
The commision structure is quite high for casual investors and novice traders. But the product is best for expert traders and active traders with a lot of experience in the markets. The interface is designed for experience traders. Beginner traders have a chance to work with a less complicated platform if they try to work with TradeStation.
The company also works with institutional investors that have big operations, creating custom trading solutions for them. So the knowledge of the whole investing landscape is baked into the DNA of the company. That helps inform the culture and helps create a better product for traders and investors.
The company offers a number of options for how users can access their network. There is a mobile trading platform, a web browser platform and a desktop trading platform for users to utilize.
One of the most effective parts of TradeStation platform is the excellent research arm. With all the historical data, there is a wealth of information so that traders can perform almost any type of research they can think of. The company also offers educational tools to help teach users how to use their platform. It hosts live events where speakers talk about trends in the market and how they are changing.
For all the beginning traders out there, it probably does not make sense to start working with TradeStation. There are other lower cost platforms out there that can help you acclimate to the industry and provide a much less intense learning curve. Start with Ameritrade or Etrade when you first get into day trading. Once you learn your way around you can work your way up to TradeStation, but starting off in the big leagues might be detrimental to your career. What you need is a healthy stint in the minors to get you off to the right start.