I didn't see Tradestation mentioned that much in here and figured Id chime in on the platform as it's what I am currently using. Been using TS for over a year. Part of the reason is that they have a special program for military and first responders. Basically, everything is almost free. Including all the futures data like ICE etc. They also dropped the futures contracts to 0.45 cents for that program. However, I will leave that special program out in my review below.
The execution has been great. The majority of my limits placed at midprice get filled with price improvements. For example, I rolled a Short Put IWM that was quoted 2.08 and they filled me 1.93. These extra profits add up.
If you have a plan and don't need the options graphs. The web-platform and mobile app are really solid. You can easily select your strikes and build your spread manually without using the set strategy options.
Just web-platform and mobile app you can get a slightly cheaper commission. If you go the full platform route, slightly higher but competitive.
The full platform comes with lots of scanners and that includes scanning options. For example large volume outside of the average and ranked etc. I'm no expert here as I just use the Anchor Trades as I don't need scanning.
OptionStation Pro comes with the full platform. It's a nice tool and reminds me a lot of TOS. You can build your graphs with it. I'm sure it's not as powerful as TOS. I don't have much experience with TOS so can't comment.
Note: TS/Web platform/mobile app quotes options PnL on last trade price. OptionStation pro will quote at MID price.
PROS:
The applications and platforms are really good. Easy to put on spreads on the mobile app or even roll your options.
Currently, real time market data is free. Including futures
Tradingview is linked with Tradestation. Once you log in it activates the futures data to realtime.
Execution is great.
Never once have I had uptime issues. Always been able to log in. I think their site mentioned the 99% uptime.
CONS:
Support has really slowed since COVID started. I think they went to a telework status. You can always reach the trade desk, but customer support may have some wait times. TS likes the account representative approach. It's nice I can just email mine directly and they see things get done. I think depending on priority I can get responses quickly or a day later.
I don't think they offer portfolio margining. I never asked as I am just not at that point.
Accounts are segregated between products. Equity/options is one account number, Futures is another etc. You'll have to xfer funds between the accounts in the back office. No fee for that, but it's not instant either.
Assignment / exercise cost is $14.95. That one surprised me when I let some get assigned at expiration. Early assignment is 1.50 per contract (5.95 min)
Hope that helps anyone whose curious about TS. Cheers