TradeStation Announces TSgo and Commission-Free Trading

October 4, 2019 | Alternative Investments

The online platform will charge less than TDAmeritrade on a per-contract basis for options

TradeStation, the online broker-dealer, has joined in the zero-commission trading frenzy.

The company will begin offering commission-free trading to customers who use its web and mobile platforms for exchange-listed stocks, options and exchange-traded funds (ETFs).  It will still charge $0.50 per options contract without a commission charge. The company has branded its commission-free trading on its web and mobile platforms as TSgo.

Tradestation Group president John Bartleman offered a statement on Thursday:  “Whether through education or by offering traders a community, we are committed to making trading mainstream and less daunting by empowering all people – regardless of experience, age and financial status – with the knowledge and resources to help them develop their financial futures. By offering commission-free trading to our customers on our web and mobile platforms, we’re breaking down yet another wall to help traders access the markets.”

“Our goal is to inspire the next generation of traders to jump into the markets,” he continued, “with the comfort of working with a trusted and established player that has been in the retail trader space since 2001.”

TradeStation Joins the Discount Broker Commission Cuts

TradeStation is the latest online discount broker to cut commissions to the bone.

Earlier this week, TD Ameritrade, E*Trade, and Charles Schwab announced similar initiatives to cut costs. Users of these platforms now face no commissions on trading stocks, ETFs and options. They will still pay per-contract fees on options trades.

Zero-commission trading has arrived decades after Schwab broke from the traditional trading business in the 1970s to revolutionize the industry.

With a big chunk of revenue disappearing from future balance sheets, these firms need to make up the difference.

Nir Kaissar at Investment News believes that low-interest rates were actually a bigger challenge for these brokers.

Meanwhile, their desire to be as close to the customer has pushed them deep into the advisory business. That makes financial advisers the logical target – and likely victims – of price competition.

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