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Watch the full video here: How to Day Trade using Trade Station (Platform Demo & Honest Review)

If you’re on the hunt for a reliable trading platform, you’ve probably heard of TradeStation. In this review, I’m going to walk you through my experience using TradeStation’s desktop platform, show you how I set it up for my day trading strategy, and break down where it shines—and where it falls short.

I’ve been day trading for more than 20 years and have used just about every platform out there. This isn’t a paid review or some affiliate pitch. It’s an honest look at whether TradeStation makes the cut for active traders.

Getting Started With TradeStation

Before diving into TradeStation’s deeper features, I had to get the platform installed, configured, and ready to go—and it didn’t go entirely as planned.

Smooth Installation, Quick Setup

Installing TradeStation’s desktop software was straightforward, and switching between simulated and live trading was seamless. I always recommend new traders start in a simulator, and TradeStation makes that easy.

The Data Access Hiccup

But I ran into a hiccup right away:

  • When I logged in, I got the error: “Data request failed. Account not enabled for this data.”
  • On other platforms like Interactive Brokers, there’s usually a clickable fix right on the screen. TradeStation? Nope.
  • I had to dig through the dashboard just to find where to enable Level 2 market data manually.

The good news? It only cost me $11/month. It shouldn’t be this complicated. The process was way more clunky than it needed to be.

Layout, Features, and Design

Once I got in, the interface looked pretty clean. TradeStation gives you the basics: Level 2, time and sales, order entry windows, and position management. But I like to personalize my space—and thankfully, you can.

Here’s what I tweaked:

  • Removed the blue gradient background on Level 2 (which, honestly, was an insult to my eyes)

  • Set up window linking so that typing a symbol updates all linked modules.
  • Copied and pasted window settings to duplicate setups quickly.
  • Even changed fonts (yes, you can use Papyrus if you’re feeling dramatic).

Compared to platforms like Lightspeed or DAS Trader, TradeStation’s layout customizability holds its own. It’s not perfect, but it’s functional.

Order Execution Speed and Price Improvement

When you’re day trading, execution speed isn’t optional—it’s everything. Fortunately, TradeStation held up well under pressure.

Fast Executions, Even With Live Orders

My test orders on Ford were nearly instant—“Buy” and “Sell” happened in a blink. You can see how fast that goes in and out. I mean, that is a really fast execution. Not quite Lightspeed fast, but for a commission-free platform? It’s impressive.

TradeStation clocks in with an average execution speed of 0.44 seconds, which puts it ahead of most commission-free brokers and just a touch behind Fidelity.

How It Stacks Up Against Other Platforms

When I ran the same test across other brokers:

  • Lightspeed came out on top. It was noticeably faster, especially when placing larger orders.
  • Fidelity, on the other hand, was painfully slow. The delay was enough to make a real difference in volatile moments.

Price Improvement That Actually Helps

One big plus: TradeStation reported $10.6 million in price improvement in Q3 2024. That’s a solid figure if you’re routing through their smart order system—especially for a platform that offers commission-free trading.

Hotkeys and Order Routing

Setting up hotkeys in TradeStation is a bit clunky. They call them “shortcuts” and split them between “Hotkeys” and “Macros.” It took me a minute to figure out where to create what.

Here’s how I built mine:

  • A buy hotkey to purchase 100 shares at the ask + $0.05.
  • A sell hotkey to unload the full position at the bid – $0.05.

It works. But here’s the problem: you can’t set a hotkey to sell a percentage of your position.

That’s a huge issue for me.

  • On Lightspeed, Webull, DAS Trader? You can sell half, a quarter, 33%, whatever.
  • On TradeStation? You’re stuck selling fixed share sizes or your full position.

Also:

  • Commission-free trades use smart routing.
  • Direct routing costs extra. I paid $0.50 to direct route 100 shares.

What’s Missing From TradeStation?

Even with all the good, there are a couple of key features that TradeStation just doesn’t deliver—and for some traders, that’s a dealbreaker.

No Halt Level or Resumption Data

There are two features I consider essential for fast-paced trading—and TradeStation lacks both:

  • Halt levels: I couldn’t see at what price a stock would trigger a halt.
  • Resumption quotes: Once halted, there were no preview quotes showing where trading might resume.

If you trade volatile stocks or rely on circuit breaker halts, this could be a serious issue. For more casual traders, maybe not so much.

Charting Limitations

I also ran into some annoyances with the charting tools:

  • Zooming in and out felt clunky.
  • Dragging across the time axis didn’t behave the way I’m used to.

These are small things—but if you’re used to platforms like DAS or Lightspeed, the lack of flexibility might throw you off.

Final Verdict: Is TradeStation Good for Day Trading?

I would trade real money on TradeStation without hesitation—it’s fast, reliable, and has a solid feature set. But would I choose it over platforms like Lightspeed or Webull? Probably not.

Here’s my final score: 6.5/10

What I liked:

  • Fast execution speed
  • Clean, customizable layout
  • Smart vs. direct routing options
  • Paper trading access

What held it back:

  • No hotkeys for selling a percentage of your position
  • No halt/resume data
  • Large orders felt slightly slower to fill

If they added percentage-based exits and halt level visibility, I’d bump it to a 7.5 easily—or just give me percentage-based exits and halt data.

Conclusion

TradeStation isn’t perfect, but it’s better than a lot of what’s out there. If you’re starting with a small or medium-sized account, this platform can get the job done. But if you need the fastest fills and advanced hotkey flexibility? You might want to look elsewhere.

Still, I’ll say this: TradeStation has come a long way, and it’s a solid choice for traders who want speed, custom layouts, and the ability to paper trade without friction.

Want to learn how to make the most of platforms like TradeStation? At Warrior Trading, I teach real strategies based on real trades—whether you’re just getting started or looking to fine-tune your edge.