TradeStation 8 vs Interactive Brokers

[CrazyKiwi]

Hi everyone,

I've been using Interactive Brokers as my broker and eSignal for my charting. I now want to trade Options and am thinking about using TradeStation 8 as it includes Options analysis software.

How does TradeStation compare to eSignal as far as charting goes? As far as I can tell from the TradeStation website TradeStation does pretty much everything that eSignal and IB do in one combined package and at a cheaper cost than eSignal. The commision costs seem the same as IB to.

Can anyone give me reasons why I shouldn't switch to TradeStation for a complete Charting, Brokerage and Options Analysis platform as opposed to using eSignal+IB?

Thanks
Pete

 

[ZDO]

CrazyKiwi,

Having been a TS user since it came out and only having limited exposures to IB and eSig - I'm obviously biased. TS fits my needs, but not necessarily everyones'. That said, I can recommend the TS platform for 'analysis' and the features and functionality for options is very good. I also recommend that you not put all your funds into TS account(s) - ie keep other account(s) open.

Getting up to speed with charting and indicators is fairly straightforward. Community Support is usually great, but only if you post the troubled code and ask clear, specific questions. Learning curve for sophisticated programming is steep for most.

Call them and see if they will give you a 30 day trial to see if it actually fits you.
Come back if you have specific questions.

hth,

zdo

 

[CrazyKiwi]

Thanks ZDO.

One last question, why do you not suggest putting all my money into a TS accounts?

 

[ZDO]

CrazyKiwi,

Mostly a personal bias against having all funds in one account regardless.
I have favorite brokers for different instruments.
TS platform is my favorite for some e-minis, financials (US, TY, etc.), and currency futures.
Would not use the brokerage side for 'pit' futures or for trading individual stocks.
It's been so long since I bought or sold premium that I don't know who I would use. Most likely I would try TS first while I shopped for the best options broker for me.

zdo

 

[bdholmes]

With IB you can have a universal pound stirling account and can trade instruments all over the world. With TS you have to have a US dollar account (so will incur conversion costs and are at the mercy of a fluctuating exchange rate) and can only trade US instruments. Although TS has competitive commissions, it's admin fees (such as the charge for withdrawing money from your trading account) are far greater than IBs.

I like the look of the TS8 software, but I can't justify the cost relative to my IB account.

 

[def]

Hi everyone,

I've been using Interactive Brokers as my broker and eSignal for my charting. I now want to trade Options and am thinking about using TradeStation 8 as it includes Options analysis software.

How does TradeStation compare to eSignal as far as charting goes? As far as I can tell from the TradeStation website TradeStation does pretty much everything that eSignal and IB do in one combined package and at a cheaper cost than eSignal. The commision costs seem the same as IB to.

Can anyone give me reasons why I shouldn't switch to TradeStation for a complete Charting, Brokerage and Options Analysis platform as opposed to using eSignal+IB?

Thanks
Pete

IB's SMART routing for options is possibly the best in the business. IB's routing also automatically seeks to leg spreads between the exchanges and takes the execution risk - i.e. you won't receive one leg of a spread. Overall the combination of IB+eSignal is cheaper and should provide better executions and thus better prices.