TradeStation Canada is Not Available, Here Are Some Alternatives

| January 30, 2022
✓ Verified by Vishesh Raisinghani

Unfortunately, Tradestation is not available in Canada at this time and there has been no mention of their expansion to Canada.

Alternatives to TradeStation for Canadians

Luckily, there are several alternatives to TradeStation in Canada.

These options all offer a range of comparable options in terms of pricing structure and availability of research tools.

Below are some of the best alternatives

Interactive Brokers

Summary

Interactive Brokers is a brokerage platform that allows active traders to benefit from low fees and a variety of different account types.

Pros

  • Wide range of investment products
  • Low commissions, especially for high-frequency traders

Cons

  • Hard for beginners to navigate user friendly mobile and web platform
Questrade

Summary

Questrade is one of the most popular trading platforms in Canada. With a wide range of research and learning tools available, Questrade has something for both beginner and experienced investors alike.

Pros

  • Large selection of account types to choose from
  • User-friendly mobile and web application

Cons

  • Minimum of $1,000 in account to begin trading
TD Direct Investing

Summary

TD Direct Investing is a great option for customers looking to stick with a bank-owned brokerage. TD Direct Investing offers a pretty good platform that even advanced traders can use.

Pros

  • Large catalog of research tools (scanners, charts, etc.) for analysis.
  • Good customer support

Cons

  • Higher commissions compared to competitors

Don’t Forget!

Always pay attention to the fine print. Commission fee structures can be complicated, so ensure you review the details.

TradeStation open on mobile phone on desk beside laptop

Interactive Brokers

Interactive Brokers is a great option for more advanced traders, offering great deals for high-frequency trading.

Interactive Brokers is amongst the best platforms for those looking for a range of account-type options.

This opens up the platform to a variety of different traders who have different investment goals.

From saving to retirement to starting a family office, the ability to open just about any registered or non-registered account opens up the platform to a wide range of users.

As mentioned, high-frequency traders will be able to take advantage of their tiered pricing structure.

This structure offers lower commissions for higher volumes of shares traded monthly.

For newer investors, IBKR Lite provides access to a simpler version of the platform without the confusion of all the advanced tools.

Unfortunately, IBKR Lite is not yet available in Canada.

Questrade

Questrade is one of the oldest and most respected names in Canada.

Founded in 1999, the platform has grown rapidly over the years and now manages over $30 billion in assets across all customer accounts.

The platform is consistently voted one of the best in Canada.

Headquartered in Toronto, this Canadian company offers a wide range of assets that can be bought and sold on the platform.

Aside from regular stocks and ETFs, traders also have access to mutual funds, options and precious metals amongst other security types.

In terms of account types, Questrade offers a variety of options to cater to the needs of Canadians.

RRSPs and TFSAs are both available on the platform, giving traders options between different registered accounts to meet different financial goals.

The pricing structure is very similar to some of the other major brokerage platforms in Canada.

Stocks can be bought and sold for 1 cent per share, with a minimum of $4.95 to a maximum of $9.95.

Questrade also offers free purchasing of ETFs, but charges $4.95 to $9.95 for selling these instruments.

The company also has fixed and variable pricing plans, giving active traders even better deals when trading in high volume.

TD Direct Investing

TD Direct Investing is a great option for those looking for a bank-owned brokerage option.

While commissions are high, the brokerage platform offers a number of analysis tools that are similar to the offerings of TradeStation.

This makes the platform a good option for advanced traders looking for more control over their portfolio.

The web and mobile applications are well integrated with each other and have both received mostly positive reviews.

The platform is also well known for good customer support, and agents are generally easy to get a hold of via telephone.

Has TradeStation Announced Expansion to Canada?

TradeStation was available to Canadians several years ago.

The company offered services in Canada until they exited the market in 2010.

Since then, there have been no announcements on upcoming plans to re-enter the Canadian market.

What is TradeStation?

TradeStation is a financial services company headquartered in Florida that was founded in 1982.

Originally known as Omega Research, the firm offered tools to clients that allowed them to conduct technical analysis.

Eventually, the company released a trading platform in 1991 which has grown into an international brand over the last few decades.

The company caters to active traders by offering a range of technical analysis tools and a fully customizable trading platform.

Frequently Asked Questions

  • Is TradeStation available for non-US residents?
  • Is TradeStation available in Canada?

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